Introduction

On June 26, 2025, President Bola Ahmed Tinubu signed into law four transformative pieces of tax legislation;
i. The Nigeria Tax Act (NTA), 2025
ii. The Nigeria Tax Administration Act (NTAA), 2025
iii. The Nigeria Revenue Service Act (NRSA), 2025
iv. The Joint Revenue Board Act (JRBA), 2025

Together, these statutes represent a sweeping overhaul of Nigeria’s tax landscape. For the first time in decades, there is a unified legislative intent to modernize, simplify, and enforce tax compliance in a way that reflects global standards. Businesses, investors, professionals, and individuals alike must understand the far-reaching implications of these changes and pieces of legislation, both to remain compliant and to take advantage of new opportunities.

This article provides a comprehensive, yet digestible, breakdown of the major reforms and what they mean for your business and operations in Nigeria. 

1. Establishment of the Nigeria Revenue Service: Section 3 of the NTAA establishes the Nigeria Revenue Service (NRS) as the central body responsible for administering and enforcing company tax matters in Nigeria. 

2. Consolidation and Harmonization of Tax Laws: The Nigeria Tax Act (NTA), 2025, consolidates over 20 tax-related laws. These include: 

a. Capital Gains Tax Act 

b. The Casino Act

c. Companies Income Tax Act

d. Deep offshore and Inland Basin Production Sharing Contracts Act

e. Industrial Development (Income Tax Relief) Act

f. Income Tax (Authorized Communications) Act

g. Personal Income Tax Act

h. Stamp Duties Act

i. Value Added Tax Act

j. Venture Capital (Incentives) Act to amend the Nigeria Export Processing Zones Act

k. Oil and Gas Free Trade Zone Act

l. National Information Technology Development Agency Act

m. Petroleum Industry Act

n. Tertiary Education Trust Fund (Establishment, etc.) Act

o. National Agency for Science and Engineering Infrastructure Act

p . Customs, Excise Tariffs, etc. (Consolidation) Act…