Nigerian Tax Reform Acts 2025 Will Strengthen Economy — NTPIC Chairman
By The People’s Voice Nigeria News
The Chairman of the National Tax Policy Implementation Committee (NTPIC), Joseph Tegbe, has highlighted the benefits of the Nigerian Tax Reform Acts 2025, describing the legislation as a major step towards building a resilient and sustainable economy.
Tegbe stated this in an article published in several national newspapers, where he explained that the new tax laws represent a comprehensive overhaul of Nigeria’s fiscal framework, designed to create a modern, efficient and transparent tax system capable of supporting long-term economic growth and national development.
According to him, the reforms are anchored on four key pillars: reconnecting the economy to the state, standardising and modernising fiscal administration, promoting predictability, and rebalancing the fiscal social contract between the government and citizens.
“By broadening the tax net, simplifying rules and strengthening administration, we are creating a more predictable fiscal environment that supports businesses and households,” Tegbe said.
He noted that the reforms were informed by global best practices, citing examples from countries such as South Korea, Singapore and Rwanda, where well-structured tax reforms have contributed to economic expansion and improved living standards.
“These countries have demonstrated that with the right policies, institutions and leadership, it is possible to transform an economy and improve the welfare of citizens,” he added.
Tegbe, who also serves as Director-General of the Nigeria-China Strategic Partnership (NCSP), explained that the Tax Reform Acts place strong emphasis on protecting low-income earners and small businesses. He said individuals earning up to N800,000 annually would be exempt from personal income tax, while zero-rated Value Added Tax (VAT) items have been expanded to cover critical sectors such as healthcare, education and agriculture.
“By reducing the tax burden on low-income earners and small businesses, the reforms aim to preserve livelihoods, encourage formal sector participation and allow enterprises to grow organically,” he said.
The NTPIC chairman also disclosed that the Acts promote digitalisation and technology-driven tax administration, including the introduction of e-invoicing to improve compliance, transparency and efficiency, while reducing administrative bottlenecks.
He stressed that the success of the reforms would depend largely on effective implementation and sustained engagement with stakeholders to ensure broad understanding and compliance.
According to Tegbe, the implementation of the Tax Reform Acts 2025 is expected to stabilise Nigeria’s fiscal environment, support local production, protect critical sectors, modernise tax administration in line with global standards, and improve the country’s ease of doing business.
He added that the reforms would also help attract foreign investment, stimulate job creation and unlock new opportunities for businesses and entrepreneurs across the economy.
