WorldStage newsonline– Mr Kenneth Erikume, a Tax Partner with PricewaterhouseCoopers (PwC) Nigeria, has advised businesses to take proactive steps in adapting to Nigeria’s newly signed tax law, effective Jan. 1, 2026.
Erikume gave the advice during the Nigerian-British Chamber of Commerce (NBCC) Members’ Day 2025 on Wednesday in Lagos.
On June 26, 2025, President Bola Tinubu signed four tax reform bills into law, which are expected to become effective from Jan. 1, 2026.
These laws are expected to consolidate and close gaps within existing tax system, enhance equity and digitise tax processes, harmonise tax administration across tiers of government and improve ease of doing business.
Erikume highlighted the far-reaching implications of the reforms on corporate structures, governance, and operations.
He said the tax reforms would affect many parts of businesses’ operating model from group and legal entity structure to people, process and technology of the business value chain.
“The tax reforms elevate tax issues to the boardroom.
“These can no longer be left to a tax manager alone,” he said.
The tax expert advised businesses to inform, sensitise management and empower people within organisations on the models of the new tax laws.
Erikume said organisations must provide detailed and holistic impact assessment on business, beneficial owners and reframe their tax strategies, setting an opportunity pool and risk register.
He urged them to operationalise and implement tax governance, function and management framework, technology and communication with key stakeholders.
The tax expert added that businesses must stay updated and manage changes that accompanied the new tax law development.
According to him, PwC can help by facilitating workshops, awareness programmes and preparing a holistic impact assessment with clear action plans for businesses.
“PwC can also deliver a group tax strategy and opportunity pool for businesses and risk register, enhance tax governance, management and function optimisation.
“We can also prepare total tax contribution reports, tax ruling requests, financial reporting and disclosures and provide continuous insight on key developments,” he said.
In his remarks, the President, NBCC, Mr Ray Atelly, said that the NBCC members’ day event provided businesses with the opportunity to interact more closely.
He said the event would increase trade volume between its members and Nigerian and British businesses.
