Nigeria’s New Tax Laws: Technical and Industry Insights

The economic trajectory of any nation is inextricably linked to the robustness, efficiency, and equity of its tax system. For too long, Nigeria, Africa’s most populous nation, had grappled with a tax framework characterised by fragmentation, obsolescence, and ineffectiveness as a tool for fiscal interventions. Many of Nigeria’s tax laws, having been enacted decades ago, had failed to adequately address the complexities of a rapidly evolving global economy with the rise of the digital age and the growing interconnectedness of businesses.

It is against this backdrop that the recent assent by the Nigerian President of four landmark tax reform bills signals a pivotal moment for the Nigerian fiscal landscape. These landmark legislations have effectively overhauled Nigeria’s tax framework with the repeal of twelve principal and/or subsidiary tax legislations and the amendment of fifteen others.

Nigeria’s recent economic struggles and the urgent need to recalibrate the levers of economic growth underpins my view that there has never been a more opportune time for such a comprehensive overhaul.

This Deloitte publication arrives at a crucial juncture, serving as an indispensable guide to understanding the profound implications of these four transformative tax legislations. It is designed to equip businesses, individuals, investors, analysts, and the citizens at large with the knowledge necessary to navigate the changes, appreciate their significance, and position strategically for the times ahead. Our collective ability to understand, adapt to, and leverage these reforms will be paramount to our successes and, by extension, Nigeria’s economic restoration.

The four new tax legislations are:

The Nigeria Tax Act 2025 – which aims to provide a unified fiscal legislation governing taxation in Nigeria.

The Nigeria Tax Administration Act 2025 - which aims to provide a concise legal framework for the fair, consistent and efficient administration of all tax laws in Nigeria;

The Nigeria Revenue Service (Establishment) Act 2025 - which repeals the Federal Inland Revenue Service Establishment Act, No. 13, 2007 and establishes the Nigeria Revenue Service to assess, collect, and account for revenue accruable to the Federal Government of Nigeria; and

The Joint Revenue Board (Establishment) Act 2025 - which seeks to establish the Joint Revenue Board, the Tax Appeal Tribunal, and the Office of the Tax Ombud, for the harmonisation, coordination and settlement of disputes arising from revenue administration in Nigeria.

Together, these four tax legislations (hereinafter referred to as “the New Tax Acts”), represent not just an incremental adjustment but a fundamental re-imagining of Nigeria’s tax system, aligning it closer to global best practices, while meticulously considering her unique economic realities and developmental aspirations. 

As you delve into subsequent chapters of this publication, you will find a detailed exposition of each legislation, dissecting their provisions, implications, and potential impacts on taxpayers and across various sectors. 

While this publication provides useful insights on the New Tax Acts, a tailored professional advice is required for business decisions. Do reach out to our subject matter specialists and industry leaders for impact assessment and transition guidance for your business and investment decisions.