With a business climate plagued by archaic laws, a multiplicity of taxes, duplication of tax authorities, and a high corporate burden, among other issues, Nigeria’s fiscal environment has been largely unconducive over the years. The redundancy of Nigeria’s tax climate has, more or less, stifled economic growth and made the appetite for investment almost non-existent.
In response, the President Bola Tinubu-led administration has introduced a new tax regime that is not only people-centered but also aimed at modernization, efficiency, economic growth, and inclusivity. Although this framework will become operational in 2026, it seeks not only to rid the system of these anomalies but also to ensure compliance, leverage technological innovations, and align with global best practices. This paper will focus on these reforms as provided in the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
These landmark laws were extensively examined in our latest article titled:
“Reforming Nigeria’s Fiscal Landscape: A Deep Dive into the New Tax and Revenue Laws.”