The Federal Government said that all tax incentives, waivers and exemptions granted under previous tax laws will remain valid until they expire.
Nigeria had introduced a new tax regime with the passage of four new tax laws. On 26 June 2025, President Bola Ahmed Tinubu signed the four (4) Tax Reform Bills into law. These laws include the Nigeria Tax Act (NTA), The Nigeria Tax Administration Act (NTAA), The Nigeria Revenue Service Act (NRSA) and the Joint Revenue Board Act (JRBA), collectively referred to as “the Acts” hereafter). The Acts comprehensively overhaul the Nigerian tax landscape to drive economic growth, increase revenue generation, improve the business environment and enhance effective tax administration across the different levels of government.
The Ministry of Finance made the clarification in the General Guidelines released on Thursday, 18 June 2026 in Abuja.
The guidelines are meant to support the implementation of the Tax Acts 2025, which came into effect on January 1, 2026.
According to the Ministry of Finance, while existing incentives will continue to run their course, any fresh applications or requests that are still awaiting approval will now be processed in line with the provisions of the new tax laws.
The guidelines were issued to help taxpayers, tax consultants, revenue agencies and other stakeholders understand how matters arising under the old tax system will be handled as the country moves to the new framework.
The government explained that tax obligations, assessments, audits, investigations, disputes and enforcement actions relating to periods before January 1, 2026, will continue to be governed by the repealed tax laws. This means that issues connected to transactions and tax periods before the commencement date will not be affected by the new legislation.
Also, companies and individuals whose accounting periods ended before January 1, 2026, are expected to submit their tax returns under the former tax laws. However, returns due from January 1, 2026, onward will be administered under the new tax framework.
The document also provides guidance on a wide range of matters, including income taxes, transaction taxes, development levies, tax incentives, exemptions, record-keeping requirements and transactions that cut across both the old and new tax systems.
Under the new arrangement, the Tax Acts 2025 consist of the Nigeria Revenue Service (Establishment) Act, the Nigeria Tax Act, the Nigeria Tax Administration Act and the Joint Revenue Board (Establishment) Act. The government stated that each law takes effect from the commencement date specified in the legislation, with the Nigeria Tax Act becoming operational from January 1, 2026.
Speaking on the release of the guidelines, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the document was designed to address issues that may arise during the transition period and to ensure that the new tax laws are not applied to past transactions or obligations.
According to him, the Tax Acts 2025 represent a major step in the government’s efforts to modernise Nigeria’s tax system.
“The Guidelines provide a framework for managing transitional issues while ensuring that the new laws are not applied retrospectively,” he said.
Oyedele added that the document clearly explains how existing obligations, ongoing tax matters and future transactions will be treated under the new legal framework.
He noted that the guidelines are built around three major principles: “clarity, fairness and administrative certainty.”
The minister said the aim is to ensure that tax authorities across the country apply the new laws in a consistent manner. He explained that the document is expected to support smooth administration by the Nigeria Revenue Service, state tax authorities, the Federal Capital Territory Internal Revenue Service, local government revenue bodies, tax practitioners and taxpayers nationwide.
The Federal Government said the transition guidelines form part of broader efforts to create a tax system that is transparent, efficient and easier to administer. It added that the reforms are intended to improve revenue collection, encourage voluntary compliance by taxpayers, support economic growth and make Nigeria a more attractive destination for investment.
