Nigeria’s landmark set of new tax reform laws has been officially published in the government’s Official Gazette, a crucial final step that gives them full legal effect and paves the way for their implementation.
The publication, confirmed last night, means the four new Tax Acts are now legally binding and enforceable.
According to government officials, publication in the Official Gazette is the stage where new laws, having passed through parliament and received presidential assent, become official. The Gazette is the government’s authoritative medium for recording laws, making them accessible to the public, businesses, and institutions.
A government statement explained: “The publication of the tax reform laws in the Official Gazette means they are now legally binding, and ready for enforcement.” It added that this step “provides formal recognition, ensures public access, and in many cases, sets the effective date for implementation.”
The new framework of tax legislation was enacted on June 26, 2025, and comprises four separate laws. These are the Nigeria Tax Act, 2025 (NTA); the Nigeria Tax Administration Act, 2025 (NTAA); the Nigeria Revenue Service (Establishment) Act, 2025 (NRSEA); and the Joint Revenue Board (Establishment) Act, 2025 (JRBEA).
A statement by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, outlined some of the key provisions that will bring significant changes. Among the most notable is a high exemption threshold for small companies, which will now be taxed at zero per cent. Under the NTAA, a small company is defined as one with an annual turnover not exceeding N100 million and total fixed assets below N250 million.
The reforms also introduce a lower corporate tax rate for large companies, allowing a reduction from 30 percent to 25 percent. This reduction will take effect once a commencement date is set by presidential order, based on the advice of the National Economic Council (NEC).
Other measures include high thresholds for a top-up tax, which set an exemption at N50 billion revenue for local firms and 750 million Euro equivalent for multinational corporations. To encourage economic development, a five per cent annual tax credit has been introduced for eligible investments in priority sectors.
In a significant move for businesses dealing in foreign currency, the government explained that taxpayers involved in such transactions “will now have the option of paying their taxes in naira, using the prevailing official exchange rate.”
The laws will come into effect in a phased approach. The NTA and NTAA are scheduled to take effect on January 1, 2026. This delay is intended to ensure the readiness of revenue institutions ahead of full implementation next year. The NRSEA and JRBEA, which establish the new revenue bodies, came into effect from June 26 of this year.
The government emphasised that publishing the laws in the official record also serves a vital public function. The statement noted that it helps “to prevent disputes by ensuring that everyone can access the official wording of the laws rather than relying on summaries or second-hand reports.”
In line with this commitment to public access, the Federal Government has made digital copies of the new tax laws available for anyone to download.
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