2026 Outlook: Tax Reform Update and Trading Investment Plan Communication
Dear Valued Clients and Esteemed Investors,
We extend our sincere appreciation to you for your continued trust, cooperation, and partnership with Akinyele Oluwale & Co. Your confidence and commitment remain fundamental to our ability to serve you effectively across our tax advisory and trading investment plan engagements.
Tax Reform Update
We commend our clients for their consistent fulfillment of tax obligations and their contribution to Nigeria’s socio-economic development during the last fiscal year. Your compliance—whether as corporate entities or individual taxpayers—plays a critical role in national growth, infrastructure development, and public service delivery.
As we transition into 2026, Nigeria’s ongoing Tax Reform agenda is aimed at building a fairer, simpler, and more growth-oriented tax system. Key developments include enhanced tax administration through expanded digital platforms, the transition from FIRS to the Nigeria Revenue Service (NRS), reduced compliance burdens, and improved taxpayer services. Importantly, the reforms prioritize broadening the tax base rather than increasing tax rates, encouraging voluntary compliance, and strengthening transparency and accountability in tax revenue utilization.
Corporate taxpayers continue to benefit from reforms that support ease of doing business, clearer regulatory guidance, and incentives for investment and job creation. Individual taxpayers equally benefit from improved taxpayer identification systems, balanced enforcement mechanisms, and increased taxpayer education and awareness.
We remain fully committed to keeping you informed, compliant, and strategically positioned under the evolving tax landscape.
Trading Investment Plan Update
Reflecting on the 2025 financial year, we sincerely appreciate your patience, trust, and confidence in our investment operations. The year presented significant global and local market challenges that impacted financial markets broadly. These conditions contributed to the delayed and, in some instances, failed payouts experienced during the period.
We wish to clearly reaffirm that these setbacks were driven by market conditions and not by any lack of commitment, integrity, or operational diligence on our part.
Looking ahead to 2026, we remain firmly focused on stabilizing operations and addressing outstanding payout obligations. Strategic measures are already being implemented to mitigate market risks, strengthen performance, and enhance resilience. We are confident that these steps will support improved outcomes in the near term.
We deeply value your partnership and remain committed to transparency, accountability, and sustainable long-term growth.
Thank you for your continued support as we move forward together.
Yours faithfully,
Akinyele Oluwale & Co.
Analysts from the financial powerhouse JPMorgan have indicated that the lackluster jobs report for August serves as a sign of a slowdown in the US economy.
In a recent analysis, Seth Carlson, a member of the editorial team at the firm’s wealth management division, along with Vinny Amaru, a global investment strategist, reference the latest Bureau of Labor Statistics (BLS) report. This report revealed that nonfarm payrolls increased by only 22,000 jobs in August, significantly below the anticipated 75,000.
Additionally, the unemployment rate rose from 4.2% to 4.3% last month, as reported by the BLS.
Carlson and Amaru observed that major stock indices fell following the report, suggesting that the market's response indicated “tempered near-term investor optimism, as the economy shows signs of slowing.”
“Our strategists believe that the recent jobs data should keep the Fed on course to lower interest rates at its upcoming September meeting, likely by 25 basis points as hiring continues to decelerate. This would mark the Fed’s first interest rate cut since December 2024.
Although the disappointing payroll numbers indicate that an economic slowdown is in progress, our strategists still consider a recession to be unlikely.”
The CME FedWatch Tool, which calculates probabilities based on the 30-day Fed Funds futures prices, suggests there is a 93% likelihood that the Fed will reduce the federal funds target rate by 25 basis points at the FOMC meeting scheduled for later this month.
