The Federal Government has disclosed plans to introduce tax exemption cards for small businesses and informal operators under Nigeria’s ongoing tax reform

This comes as part of efforts to shield low-income earners from multiple taxes and levies, according to Nairameteics.

This was revealed by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, while speaking on a Channels Television programme on Wednesday.

He explained that the reform is intentionally structured to move Nigeria’s tax system away from what he described as a regressive model that places a heavier burden on the most vulnerable.

Oyedele added that opposition to the reforms has largely been driven by misinformation and manipulation, despite the fact that low-income earners and small businesses stand to benefit the most.

Oyedele argued that given the government’s limited enforcement capacity, tax efforts should focus on high-yield taxpayers rather than low-income Nigerians.

He cited data from the Nigeria Deposit Insurance Corporation, noting that about 98 percent of bank account holders in Nigeria have less than ₦500,000 in their accounts.

“Those are the people fighting the reform,” he said.

He added that many wealthy individuals who earn substantial incomes often quietly stir public opposition as a way to evade paying taxes.

According to him, some content creators earning as much as $10,000 a month oppose the reforms while portraying the debate as if ordinary Nigerians’ bank accounts will be arbitrarily debited.

Oyedele dismissed these claims, emphasising that the tax reforms do not give the government the power to automatically debit bank accounts.