The Federal Government has gazetted Nigeria’s sweeping tax reform laws, marking the most significant overhaul of the country’s fiscal framework in decades.
In a statement on Wednesday, Kamorudeen Yusuf, Personal Assistant on Special Duties to President Bola Tinubu, confirmed the publication.
President Tinubu signed the four reform bills into law on 26 June 2025. They include:
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Nigeria Tax Act (NTA), 2025
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Nigeria Tax Administration Act (NTAA), 2025
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Nigeria Revenue Service (Establishment) Act (NRSEA), 2025
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Joint Revenue Board (Establishment) Act (JRBEA), 2025
Key provisions include:
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Exemption from corporate tax for small businesses with turnover below ₦100m and assets under ₦250m.
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Discretionary reduction of corporate tax for large firms from 30% to 25%.
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Top-up tax thresholds set at ₦50bn for local firms and €750m for multinationals.
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A 5% annual tax credit for eligible priority-sector projects.
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Option for companies transacting in foreign currency to pay taxes in naira at official exchange rates.
The NTA and NTAA will take effect from 1 January 2026, while the NRSEA and JRBEA became operational from 26 June 2025.
According to Yusuf, the reforms are designed to simplify taxation, support small enterprises, attract investment, and enhance fiscal stability, in line with Tinubu’s Renewed Hope Agenda to diversify revenue beyond oil.
FG Publishes Nigeria’s New Tax Reform Laws in Gazette
The Federal Government has officially published Nigeria’s new tax reform laws in the government gazette, marking a historic overhaul of the country’s fiscal framework. Signed into law by President Bola Ahmed Tinubu on June… pic.twitter.com/GoBsBDD1yl
— Kamorudeen Olawale Yusuf (Kamosky) (@KamorYusuf) September 10, 2025