New tax law “most comprehensive reform” in history- ​FCT-IRS boss

By Stanley Onyekwere

​The Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service (FCT-IRS), Michael Ango, has described Nigeria’s recently enacted tax law as the most significant fiscal overhaul in the nation’s history.
​Speaking at the BusinessDay Tax Reform Conference 2026 in Abuja, Ango emphasized that the new regime is designed to create a more equitable system by shifting the financial burden away from the poor and toward the wealthy.
​The conference, themed “Navigating the New Tax Regime: What It Means for Your Wallet,” provided a platform for Ango to break down the impact of the changes: ​
Wealth Redistribution:
The new law provides significant tax relief for low-income earners while increasing the obligations of high-net-worth individuals. And the reforms, spearheaded by the Taiwo Oyedele-led Presidential Tax Reform Committee, aim to simplify the tax structure for better compliance.
​Ango noted that taxation remains the most stable revenue source compared to the volatility of other sectors, such as oil.
​​THe FCT-IRS boss, who served on the reform committee himself, praised President Bola Ahmed Tinubu for his “tenacity” and for involving private-sector experts in the drafting process.
He also lauded the establishment of the National Tax Policy Implementation Committee (NTPIC) as a vital move for long-term fiscal health.
​Also, the FCT-IRS boss credited FCT Minister Nyesom Wike for the visible infrastructure boom across the territory’s city centers and satellite towns, noting that such developments are fueled directly by tax contributions.
​In a final call to action, Ango reminded residents that the deadline for filing tax returns is March 31, 2026.
​“Taxation is not punitive. The money from tax collection is used for public infrastructure.
“We urge all taxable individuals and organizations to remain compliant to ensure the continued growth of our services,” Ango stated.