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.

This was revealed in a statement signed by the Personal Assistant on Special Duties to the President, Kamorudeen Yusuf, on Wednesday.

Signed into law by President Bola Tinubu on June 26, 2025, the reforms establish a new foundation for taxation, administration, and revenue collection.

The four legislations are: Nigeria Tax Act (NTA), 2025, Nigeria Tax Administration Act (NTAA), 2025, Nigeria Revenue Service (Establishment) Act (NRSEA), 2025, and the Joint Revenue Board (Establishment) Act (JRBEA), 2025.

“Small businesses with turnover under N100m and assets below N250m are exempted from corporate tax.

“Corporate tax rate for large firms may be cut from 30% to 25% at the President’s discretion. “Top-up tax thresholds: N50bn (local firms) and €750m (multinationals).

“5% annual tax credit introduced for eligible priority-sector projects.

“Companies transacting in foreign currency may now pay taxes in naira at official exchange rates.”

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

The statement noted that while the implementation timeline for the NTA & NTAA takes effect on January 1, 2026, NRSEA & JRBEA will be effective from June 26, 2025.

“These reforms aim to simplify Nigeria’s tax system, support small businesses, attract investment, and strengthen fiscal stability, aligning with President Tinubu’s Renewed Hope Agenda to diversify revenue away from oil,” the statement added. (Channels TV)