The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) Youth Entrepreneurs has called on the Federal Government to reinvest proceeds from the newly introduced tax reforms into critical infrastructure to support small and medium-sized businesses across the country.
The call comes amid plans by the Federal Government to commence implementation of the Nigeria Tax Act and the Tax Administration Act from January 1, 2026, despite ongoing debates surrounding alleged alterations to the gazetted versions of the laws.
Speaking at the Ondo City Entrepreneurs’ Dinner organised by NACCIMA Youth Entrepreneurs in collaboration with the Ondo Kingdom Chamber of Commerce, Industry, Mines and Agriculture, the President of NACCIMA in Ondo State, Pastor Henry Adesaoye, said the tax reforms could ease pressure on businesses if implementation is transparent and revenue utilisation is visible.
Adesaoye noted that the reforms, introduced under the Bola Tinubu administration, were designed to reduce the tax burden on low- and middle-income earners while creating a fairer system for businesses, particularly micro, small and medium enterprises (MSMEs).
According to him, MSMEs operating in Nigeria’s largely informal economy stand to benefit from a tax framework that reduces multiple taxation, blocks revenue leakages, and expands the tax net without stifling growth.
“The reform aims to ensure that low- and middle-income earners pay less, while high-income earners contribute their fair share. However, government must earn public trust by investing tax revenue in infrastructure that directly improves productivity and business operations,” Adesaoye said.
He added that reliable infrastructure such as roads, power supply and digital connectivity would lower operating costs for MSMEs, improve competitiveness, and strengthen economic growth.
Adesaoye dismissed concerns that the new tax laws would hurt small businesses, insisting that the reforms were structured to protect MSMEs while promoting transparency and accountability in public finance.
Beyond tax policy, he said the entrepreneurs’ dinner was organised to provide a platform for young business owners to exchange ideas, build networks and gain practical insights for business sustainability.
“Young entrepreneurs must understand their competitive advantage, build trust with consumers and develop strong relationships. Experience-sharing is critical for business growth,” he said.
Also speaking, the Coordinator of the Ondo Kingdom Chamber of Commerce, Mr. Sam Adegbola, said the association was intensifying efforts to support youth-led enterprises through capacity building and access to opportunities.
He disclosed plans to host a business summit for young entrepreneurs in July 2026, aimed at connecting youths to investment and enterprise opportunities within Ondo Kingdom.
Adegbola added that the association currently operates a free agricultural training farm for youths interested in crop and animal farming, noting that about 65 beneficiaries had been trained as of October 2025, with plans to scale up in 2026.
The group reaffirmed its commitment to advocating policies that improve the operating environment for MSMEs and align local business needs with national economic reforms.
