Have you heard people talking about one “new tax law” that will make life hard for market people?
Calm down first, it’s not as scary as it sounds. The truth is, this law can actually help you if you understand it well. But if you ignore it or listen to street rumors, you might fall into trouble you could’ve easily avoided.
So before you shout “government don come again!”, let’s break it down in plain, everyday English, no big grammar, no confusion.
What’s This New Tax Law All About?
The government recently introduced a new tax system to make more Nigerians contribute fairly, not just big companies, but small business owners too.
That means people like:
- Mama Sade who sells pepper at Bodija Market
- Musa the vulcanizer by the roadside
- Chinedu the phone repair guy in Alaba
- Or Funke the fashion designer in Surulere
If you earn money from your work, even in a small way, you might now be part of this new “tax family.”
But don’t panic, the goal isn’t to punish you. It’s to make things fair, formalize your hustle and even open doors for small businesses to benefit from government programs.
How This Law Affects the Average Market Man or Woman?
Let’s say Mama Bose sells tomatoes and pepper in Alagbole Market and makes around ₦15,000 profit a week.
Under the new system, she may need to pay a small fixed amount, like:
- ₦3,000 per year (through a Presumptive Tax System), or
- A small daily or weekly fee collected officially by local tax officers
This isn’t about taking your money unfairly, it’s about making sure everyone contributes a little so government services (like roads, waste collection and security) can reach every trader.
How to Stay Informed and Avoid Fake Collectors
Now, this part is important because many traders may lose money to fake “tax men.”
Here’s how to stay smart:
- Ask for ID: Real tax collectors carry official identification and issue receipts immediately.
- Keep all receipts: Even if you can’t read them, keep them safe!
- Ask your market association leaders: They usually have the right information from the government.
- Attend sensitization meetings: The National Orientation Agency (NOA) is already working with states to explain this law to traders in simple language.
For Our Uneducated Market People, No Need to Fear
If you can’t read or write well, don’t worry. There are simple ways to protect yourself:
- Join your market union: They’ll help you know who and how to pay.
- Ask questions before paying anyone: Don’t be shy to say: “Abeg, who send you?”
- Go in groups: Two or three traders together are harder to deceive than one person alone.
- Listen to radio programs or NOA town meetings: They often explain these things in Pidgin, Yoruba, Hausa, or Igbo.
Why This Law Might Actually Help You
When you pay the correct small tax, your business becomes visible, meaning you can benefit from government loans, grants, and support for small traders.
Think about it:
How can the government help you if they don’t even know you exist?
Paying your fair share makes your hustle official.
Final Word
Dear market man or woman, this new tax law isn’t your enemy, ignorance is.
If you understand it, you’ll pay less stress and avoid fake collectors.
The government, through the National Orientation Agency, must keep spreading the word, not in English alone, but in the languages of our markets and motor parks.
As Mama Bose wisely said:
“If dem teach us well, we go pay small small, no wahala.”
So learn small, ask plenty questions and always keep your receipt.
Because in this new system, knowledge is your best protection.
