The Federal Government of Nigeria has officially published the country’s new tax reform laws in the national gazette, following President Bola Tinubu’s assent to the legislation on June 26, 2025.
The publication formalises a comprehensive overhaul of Nigeria’s fiscal framework.

The announcement was made in a statement on Wednesday by Kamorudeen Yusuf, Personal Assistant on Special Duties to the President, via his X account.

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

According to the government, the reforms introduce significant changes to taxation, revenue collection, and tax administration in Nigeria. Small businesses with an annual turnover of below ₦100 million and assets of below ₦250 million are exempt from corporate tax.

The corporate tax rate for larger firms may be reduced from 30 per cent to 25 per cent at the discretion of the President. The reforms also set top-up tax thresholds at ₦50 billion for local firms and €750 million for multinational companies.

In addition, the legislation provides a 5 per cent annual tax credit for eligible projects in priority sectors, particularly agriculture. Companies transacting in foreign currencies are now permitted to pay taxes in naira at official exchange rates.

Yusuf clarified the implementation schedule for the new laws, stating that the Nigeria Tax Act and the Nigeria Tax Administration Act will take effect from January 1, 2026.

The Nigeria Revenue Service Act and the Joint Revenue Board Act became 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,” Yusuf said.

The Federal Government said the gazetting of the laws provides a legal basis for the operationalisation of the reforms and sets out the regulatory framework for both local and multinational taxpayers in Nigeria.