Financial Q&A: Your Questions Answered

What are the new PAYE tax rates effective 2026?

Under the Nigeria Tax Act 2025, which officially took effect on January 1, 2026, the PAYE (Pay-As-You-Earn) system has undergone its most significant overhaul in decades. The new law introduces a more progressive structure that eliminates the old "Consolidated Relief Allowance" (CRA) and replaces it with a higher tax-free threshold and a specific Rent Relief.