Oyedele and Wike Meet to Refine FCT Taxation Policy

By Emma Ujah, Abuja Bureau Chief

The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, and his Federal Capital Territory (FCT) counterpart, Barr. Nyesom Wike, met to refine the tax administration in the FCT.

Mr. Oyedele described the meeting as a “productive bilateral meeting” and said that the two ministers also reviewed plans to harmonise tax administration within the FCT.

The harmonisation, he said, would eliminate “multiple taxation while optimising revenue generation in line with the new tax reform law, to accelerate development across the Territory.”

The Finance Minister noted that the meeting “centred on strengthening collaboration to advance the FCT’s infrastructure renewal agenda, with particular commendation for the FCT Minister’s focus on completing previously abandoned projects to unlock value for residents.”

Last week, Mr. Oyedele issued the General Guidelines for the implementation of the Tax Acts 2025, outlining the transition from the repealed tax laws to the new tax framework effective from January 1, 2026.

The Guidelines direct taxpayers, tax practitioners, revenue authorities and other stakeholders on how to address issues arising from the old regime to the new framework.

Under the Guidelines, the Tax Acts 2025 – comprising the Nigeria Revenue Service (Establishment) Act, the Nigeria Tax Act, the Nigeria Tax Administration Act, and the Joint Revenue Board (Establishment) Act – apply from their respective commencement dates as enacted. In particular, the Nigeria Tax Act, 2025, takes effect on January 1, 2026.

Tax liabilities, assessments, audits, investigations, disputes and enforcement actions relating to periods before that date will be treated under the repealed tax laws.

Tax returns for accounting periods ending before January 1, 2026, will be filed under the previous tax laws, while returns for periods ending from January 1, 2026, onward will be administered under the new tax framework.

The document also covers the treatment of income taxes, transaction taxes, development levies, tax incentives, exemptions, record‑keeping obligations and transactions that span both the old and new tax regimes.

Existing tax incentives and exemptions granted under the repealed laws will remain in place until their expiration dates. New applications and pending requests, however, will be considered under the provisions of the Tax Acts 2025.

The Guidelines aim to promote uniform implementation and support effective administration across the Nigeria Revenue Service, State Internal Revenue Services, the FCT Internal Revenue Service, Local Government Revenue Committees, tax practitioners and taxpayers nationwide.

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