FIRS to launch new tax reform initiative

FIRS has announced that it will officially launch the Nigeria Tax Reform Acts on Monday, November 10, 2025, during a Strategic Stakeholder Engagement Session themed “Impact of the New Tax Laws.” 

Author By:Ernest nzor

November 7th, 2025

The session will bring together senior government officials, policymakers, tax experts, development partners, civil society and the private sector to review how the new tax laws will operate and what their wider implications are. 

According to FIRS’ Director of Taxpayer Services, Dr. Lovette Ononuga, the aim is to strengthen public understanding of the reforms and promote collaboration among stakeholders for effective implementation. 

Part of the reforms will include simplifying the tax structure, reducing overlapping/duplicate taxes, improving clarity for taxpayers, and building a “simpler, fairer, and more efficient tax system” aligned with Nigeria’s development goals. 

The new laws have been signalled to come into effect from 1 January 2026. 

For individuals and small businesses, the reforms include various exemptions and reliefs. For example: for personal income tax, individuals earning up to certain thresholds may be exempt; for companies, small companies with turnover ≤ N100 million may pay 0% CIT under certain conditions. 

For the tax administration side: greater emphasis on digitalisation, transparency, reducing compliance burdens, and improving the revenue-to-GDP ratio. 

For taxpayers: one message is that it’s not just about more taxes, but about better structures and removing ambiguity in obligations. Ononuga said the reforms aim to eliminate frustrations in tax payments and eliminate unfair charges by unauthorised local entities. 

If you are an individual taxpayer: check whether you are eligible for the new reliefs/exemptions (depending on income level, etc).

If you run a business: you’ll want to stay informed about the new frameworks (especially if you’re a “small company” under the new definition) so you don’t miss out on reliefs or face unexpected compliance burdens.

Stakeholder engagement means that voices (business, civil society) may have opportunity to input or at least understand how the changes will play out so keep an eye on the virtual participation links and any consultation materials.

Because the effective date is 1 Jan 2026, you still have time to prepare, but it means you shouldn’t wait until last minute.