The Federal Government has announced that Nigeria’s new tax regime will take effect from January 1, 2026, following President Bola Ahmed Tinubu’s signing of four key tax reform laws on June 26, 2025.
The new laws — the Nigeria Tax Act (NTA), Nigeria Tax Administration Act (NTAA), Nigeria Revenue Service (Establishment) Act (NRSEA), and Joint Revenue Board (Establishment) Act (JRBEA) — aim to boost business growth and improve citizens’ purchasing power, according to Finance Minister Wale Edun.
Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, said the laws include 50 exemptions and reliefs for low-income earners, average taxpayers, and small businesses.
Key VAT Exemptions and 0% Rate Items
Basic food items, rent, education, and healthcare services
Pharmaceuticals, agricultural inputs, and equipment
Baby products, sanitary towels, disability aids
Electric vehicles and components
Shared passenger transport and humanitarian supplies
Small companies (under ₦100m turnover)
Stamp Duty Exemptions
Electronic transfers below ₦10,000
Salary and intra-bank transfers
Transfers of government securities, stocks, and shares
Meanwhile, the government has invited Nigerians to nominate content creators helping to spread accurate information about the tax reforms. The top 20 nominees will receive special training to educate the public. Nominations close November 9, 2025, via forms.gle/15kyv1ffx7tzTL.
