Speaker Abbas Tajudeen has ordered the circulation of the four Tax Reform Acts of 2025, after lawmakers raised alarms about inconsistent versions of the laws circulating in the private sector.
The National Assembly aims to provide a single, authoritative reference for the overhaul of the fiscal system of Nigeria in decades, by releasing the CTCs, which include the signature of the president and assent pages.
The reforms, signed into law in June 2025, were designed to modernize a fragmented tax system. However, Dawn Herald reported that the rollout was nearly derailed by a gazetting controversy where unauthorized versions of the text were allegedly used by consultants.
The House of Assembly has now set up an Ad-Hoc Committee to investigate how these fake versions entered circulation.
The National Assembly is an institution built on records… There is no ambiguity about what constitutes the law – Speaker Abbas Tajudeen
The released documents cover the Nigeria Tax Act, Tax Administration Act, National Revenue Service Establishment Act, and the Joint Revenue Board Establishment Act.
The laws replace the FIRS with the Nigeria Revenue Service (NRS), granting it powers to deploy Electronic Fiscal Systems for real-time tax monitoring.
Small companies, that turnover below ₦50m, are officially exempted from Companies Income Tax, while individuals earning under ₦800,000 annually are also carved out of the tax net.
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