The Young African Leadership Initiative Regional Leadership Centre (YALI RLC) South West Nigeria Alumni concluded its 2025 community service programme on Friday, December 26, 2025, with a virtual community education session titled “Understanding the New Nigerian Tax Law.”
In his welcome remarks, host Mr. Babs Afonrinwo stressed the need for Nigerians to obtain more details about recent changes to the tax laws.
National President Dr. Peter Ajanson appreciated the region and its members for the timely discourse.
He affirmed his eagerness to learn from the expert facilitator, Mr. Omotayo Ojuse, a business development consultant, CEO of ILISS Consulting, and Chairman of the Board of Trustees of the YALI RLC Alumni Association.
Mr. Ojuse spent over two hours dissecting the new tax laws, addressing misconceptions, listing 50 categories exempted from tax, and explaining the benefits of the reforms.
Mr. Ojuse emphasised that the new tax law was designed to ease the burden on low-income earners, minimum-wage earners, and small businesses.
“Nigeria’s New Tax Laws Designed to Protect Low-Income Earners and Small Businesses” – Ojuse
He explained that while most people would pay less tax, more individuals would now be included in the wider tax net. This includes influencers, vloggers, and others earning income from foreign platforms.
He then listed the 50 exemptions and clarified several misconceptions about the law.
Key Exemptions
Among the exemptions highlighted were:
- Value Added Tax (VAT) – 0% or exempt for food items
- Rent – exempt
- Education services and materials – 0% VAT
- Health and medical services
- Pharmaceutical products – 0% VAT
- Small companies (≤ ₦100m turnover) exempt from charging VAT
- Diesel, petrol, and solar power equipment – VAT suspended or exempt
- Refund of VAT on assets and overheads used to produce VATable or 0% VAT goods and services
- Agricultural inputs – fertilizers, seeds, seedlings, feeds, and live animals
- Purchase, lease, or hire of equipment for agricultural purposes
- Disability aids – hearing aids, wheelchairs, braille materials
- Transport – shared passenger road transport (non-charter)
- Electric vehicles and parts – exempt
- Humanitarian supplies – exempt
- Baby products
- Sanitary towels, pads, or tampons
- Land and buildings
- PAYE for minimum wage earners
- Pensions
- Capital gains
- Company Income Tax (CIT) exemptions for small companies with turnover under ₦100 million, eligible startups, and agricultural companies for up to five years
Clarifications and Audience Engagement
Mr. Ojuse also addressed misconceptions, including claims that the government would withdraw funds directly from citizens’ bank accounts. He clarified that such claims were untrue.
The audience, comprising young people, pensioners, and students, was highly engaged. Multiple questions on misconceptions were asked and satisfactorily answered.
The session lasted a little over two hours and was moderated by MLS Onaoluwa Abimbola, Director of Publicity and Communication.
The Coordinator thanked members who attended the December community hangout at Finnih Park, Kofo Abayomi, off Opebi Link Road, Lagos.
He encouraged members to continue the spirit of fellowship during the festive period with the hashtag #VisitYourYALINeighbour.
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