BusinessNewsNigeriaFG Gazettes Landmark Tax Reform Laws Ahead of 2026 Take-Off

The Federal Government has formally gazetted Nigeria’s new tax reform laws. Implementation is scheduled to commence on 1 January 2026.

The reforms consist of four interlinked statutes: 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).

This was announced by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, via a social media post late Monday.

“Nigeria’s tax reform laws have been published in the official gazette,” he wrote.

Oyedele went ahead to state the key provisions of the new tax laws. These are as follows;

1. High exemption threshold for small companies: Zero per cent tax for a small company, defined under the NTAA as having an annual turnover not exceeding ₦100m with a total fixed assets less than ₦250 million.
2. Lower corporate tax rate for large companies: Provisions to enable the reduction of tax rate from 30 per cent to 25 per cent for large companies effective from a date as may be determined in an Order by the President on the advice of the National Economic Council.
3. High thresholds for top-up tax: Exemption threshold of ₦50 billion revenue for local firms and €750 million equivalents for multinationals.
4. Economic development initiative: Tax credit at the rate of five per cent per annum for eligible priority sector investments.
5. Payment of taxes in Naira: Option to pay taxes on foreign currency transactions in Naira at the prevailing exchange rate in the official foreign exchange market.

The NTA and NTAA will take effect on 1 January 2026. The NRSEA and JRBEA took effect earlier, on 26 June 2025, to prepare institutional structures ahead of full implementation next year.

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By Ezinwanne Onwuka (Senior Reporter)

Ezinwanne Onwuka, senior staff reporter and columnist with WAP is a Nigerian-based writer and content developer. She holds a Bachelor of Arts degree in Philosophy from the prestigious University of Nigeria, Nsukka. Her interests include reading, writing, researching and graphic designing.

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