Nigeria 2026: Major Reforms Nigerians Should Watch

After months of announcements, debates, and preparation in 2025, several big reforms are scheduled to take effect, some from January 1, 2026. For households, these changes may show up in everyday things like bank transfers, cash withdrawals, and the cost of doing business. 

For SMEs, the biggest impact will likely be around tax compliance, bank charges, access to credit, and how government enforcement is applied. 

For investors, 2026 will be closely watched because of banking recapitalisation moves and the general direction of fiscal and economic management.

1) New Tax Rules Begin January 1, 2026

The biggest shift starts on January 1, 2026, when key parts of the new tax framework are scheduled to take effect. Government officials say the reforms are meant to simplify tax administration, reduce loopholes, improve compliance, and make the system clearer for individuals and businesses.

One change many Nigerians will notice is the stamp duty framework for transfers. From January 1, 2026, a ₦50 stamp duty will apply to electronic transfers of ₦10,000 and above, and the sender will pay the charge.

Transfers below ₦10,000 are expected to remain exempt, and banks are expected to show this charge separately from normal transfer fees.

2) Cash Withdrawal Limits Tighten From January 1, 2026

Another major change is stricter cash withdrawal limits aimed at reducing cash-based risks and strengthening the push toward digital payments.

From January 1, 2026, individuals will face a weekly cash withdrawal limit, while businesses will also have a separate higher weekly limit.

Withdrawals above approved thresholds may attract extra charges. For many Nigerians, especially traders and cash-heavy businesses, this could change how they plan daily sales, pay suppliers, and move money.

3) Bank Recapitalisation Deadline Falls in 2026

The banking sector is also set for a major shake-up. Nigeria’s bank recapitalisation programme has a key deadline in 2026, with banks expected to meet new capital requirements by the end of the first quarter. This could lead to more capital raising, stronger competition for deposits, and, in some cases, mergers or acquisitions, depending on how banks choose to comply.

For customers, recapitalisation can affect loan pricing, credit access, fees, and how aggressive banks become in pushing products and hitting targets.

4) 2026 Budget Direction and Stronger Revenue Push

The 2026 federal budget is positioned as a high-spending plan, with significant allocations toward security and continued spending on infrastructure, education, and health. Economists say what will matter most is execution, how quickly funds are released, how transparently projects are awarded, and whether contractors are paid on time.

At the same time, Nigerians and businesses should expect stronger revenue drive from government agencies. Even without new tax rates, enforcement can increase through audits, compliance checks, levies, and stricter monitoring.

5) Energy and Public Finance Moves to Watch

In the energy space, two big themes are expected to carry into 2026: efforts to improve financial clarity around national oil revenues and a stronger focus on gas infrastructure that supports power supply and industrial activity.