Nigeria Don Publish New Tax Law, Small Biz Go Dey Enjoy!

Abuja, Nigeria – The federal government don finally publish new tax reform laws wey go change the way we dey pay tax for this country. E start from January 1, 2026, but make we gist wetin dey happen. Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, drop the bombshell for X on Monday, say dem don official announce Nigeria Tax Act, 2025 (NTA), Nigeria Tax Administration Act, 2025 (NTAA), Nigeria Revenue Service (Establishment) Act, 2025 (NRSEA), and the Joint Revenue Board (Establishment) Act, 2025 (JRBEA).

Omo, if you be small business wey dey make less than N100 million turnover and you get assets below N250 million, na you go smile pass because you go dey exempted from corporate tax. E sweet no be small! For the big boys wey get large companies, dem go reduce the corporate tax rate from 30% to 25%. Dem say President go fit decide when this one go start, as dey don package am nicely for national economic council’s table.

But una no fit forget say dem get some high thresholds for top-up tax wey go dey apply: Na N50 billion for local firms and €750 million for foreign multinationals. Plus, dem don introduce tax credit of 5% per annum wey go dey support priority sector investments. Na wah, e be like say money for pocket go dey enter small small! E mean say dem dey open gate for investors wey wan come cash in on Nigeria market.

For those wey dey do business for abroad or dey transact in foreign currency, you fit now pay your tax in Naira using the latest exchange rate for the official FX market. No more wahala, na straight to the point! So, the NTA and NTAA go commence on January 1, 2026, while the NRSEA and JRBEA don start since June 26, 2025, to prepare the ground for full implementation.

Waiting be the aim of all these new laws? According to Oyedele, na to make Nigeria tax system easy, support small businesses, attract investment, and strengthen fiscal stability. Dem wan make sure say our economy no dey rely too much on oil alone, and this one dey align with President Bola Tinubu’s Renewed Hope Agenda.

So, my people, wetin you sabi about this new tax law? Abeg, put your mind for how you go benefit from am. Make we dey hope say wahala no go dey for implementation and everybody go dey follow the rules join body.