The Nigerian Affiliation of Chambers of Commerce, Trade, Mines and Agriculture (NACCIMA) Youth Entrepreneurs has known as on the Federal Authorities to reinvest proceeds from the newly launched tax reforms into vital infrastructure to assist small and medium-sized companies throughout the nation.
The decision comes amid plans by the Federal Authorities to start implementation of the Nigeria Tax Act and the Tax Administration Act from January 1, 2026, regardless of ongoing debates surrounding alleged alterations to the gazetted variations of the legal guidelines.
Talking on the Ondo Metropolis Entrepreneurs’ Dinner organised by NACCIMA Youth Entrepreneurs in collaboration with the Ondo Kingdom Chamber of Commerce, Trade, Mines and Agriculture, the President of NACCIMA in Ondo State, Pastor Henry Adesaoye, mentioned the tax reforms may ease strain on companies if implementation is clear and income utilisation is seen.
Adesaoye famous that the reforms, launched below the Bola Tinubu administration, had been designed to cut back the tax burden on low- and middle-income earners whereas making a fairer system for companies, significantly micro, small and medium enterprises (MSMEs).
In accordance with him, MSMEs working in Nigeria’s largely casual economic system stand to learn from a tax framework that reduces a number of taxation, blocks income leakages, and expands the tax web with out stifling progress.
“The reform goals to make sure that low- and middle-income earners pay much less, whereas high-income earners contribute their fair proportion. Nonetheless, authorities should earn public belief by investing tax income in infrastructure that immediately improves productiveness and enterprise operations,” Adesaoye mentioned.
He added that dependable infrastructure corresponding to roads, energy provide and digital connectivity would decrease working prices for MSMEs, enhance competitiveness, and strengthen financial progress.
Adesaoye dismissed considerations that the brand new tax legal guidelines would damage small companies, insisting that the reforms had been structured to guard MSMEs whereas selling transparency and accountability in public finance.
Past tax coverage, he mentioned the entrepreneurs’ dinner was organised to offer a platform for younger enterprise homeowners to trade concepts, construct networks and acquire sensible insights for enterprise sustainability.
“Younger entrepreneurs should perceive their aggressive benefit, construct belief with shoppers and develop robust relationships. Expertise-sharing is vital for enterprise progress,” he mentioned.
Additionally talking, the Coordinator of the Ondo Kingdom Chamber of Commerce, Mr. Sam Adegbola, mentioned the affiliation was intensifying efforts to assist youth-led enterprises by way of capability constructing and entry to alternatives.
He disclosed plans to host a enterprise summit for younger entrepreneurs in July 2026, aimed toward connecting youths to funding and enterprise alternatives inside Ondo Kingdom.
Adegbola added that the affiliation presently operates a free agricultural coaching farm for teens all in favour of crop and animal farming, noting that about 65 beneficiaries had been skilled as of October 2025, with plans to scale up in 2026.
The group reaffirmed its dedication to advocating insurance policies that enhance the working atmosphere for MSMEs and align native enterprise wants with nationwide financial reforms.
Submit Views: 8
