The Executive Chairman of the Akwa Ibom State Internal Revenue Service (AKIRS), Okon Okon, has said that the state’s proposed tax reform bills will provide significant relief for low-income earners, promote the growth of small and medium-scale enterprises (SMEs), and stimulate overall economic development.
Okon made the remarks during a public hearing on three executive bills currently before the Akwa Ibom State House of Assembly: the Akwa Ibom State Revenue Service and Administration Bill 2025; the Akwa Ibom State Taxes and Levies Bill 2025; and the Akwa Ibom State Betting and Lottery Regulatory Agency Bill 2025.
He explained that the bills are designed to reform the state’s tax system by eliminating multiple taxation, harmonising tax administration, and improving ease of doing business. According to him, the proposed laws will also put an end to roadblocks used for revenue collection and introduce uniform tax rates and administration across the federation.
Okon, who is also a member of the Presidential Committee on Fiscal Policy and Tax Reforms, listed other benefits of the bills to include property tax reform, harmonisation of daily ticket collections, elimination of nuisance taxes, and the removal of minimum tax obligations on businesses operating at a loss.
He added that the reforms provide exemptions and reductions in personal income tax for low-income earners, as well as zero Value Added Tax (VAT) on essential items and services such as food, transportation, healthcare, education, and rent.
According to him, the tax reforms have already brought positive changes for taxpayers. He noted that about 46 different taxes previously imposed by state and local governments have been harmonised into nine taxes nationwide under the proposed framework.
“Low-income earners — those earning ₦800,000 and below annually — are now completely exempted from personal income tax. This is a significant improvement from the previous threshold of ₦300,000,” Okon said.
The public hearing was organised by the House Committee on Finance and Appropriation, chaired by Dr Itorobong Etim. The Speaker of the House, Udeme Otong, was represented at the event by the Deputy Speaker, KufreAbasi Edidem.
Other dignitaries in attendance included the Deputy Chairman of the committee, Asuquo Udo; the Commissioner for Finance, Emem Bob; the Commissioner for Budget and Economic Planning, Dr Linus Nkan; the Commissioner for Transportation, Dr Anthony Luke; the Chairman of the Nigeria Labour Congress (NLC) in the state, Comrade Sunny James; as well as representatives of civil society organisations, the Chartered Institute of Taxation of Nigeria (CITN), and the Institute of Chartered Accountants of Nigeria (ICAN).