The Federal Government has commenced a six-week review of Nigeria’s 2025 tax reforms to address implementation challenges, clarify ambiguous provisions and respond to unintended consequences that have emerged since the new laws took effect.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday in Abuja while inaugurating the Technical Subcommittee on Fiscal Policy and Tax Reforms.

The review will examine key areas of the tax regime, including Value Added Tax thresholds, withholding tax, capital gains treatment and multiple taxation. Its recommendations are expected to contribute to the proposed Finance Bill 2027.

Oyedele, who is also Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, said implementation of the new laws had revealed areas requiring clarification, refinement and further reforms.

He stressed that the exercise was not intended to reverse the 2025 reforms but to preserve their fundamental principles while responding to lessons from implementation and changing economic conditions.

The Nigeria Tax Act 2025, Nigeria Tax Administration Act 2025, Nigeria Revenue Service (Establishment) Act 2025 and Joint Revenue Board (Establishment) Act 2025 came into full effect on January 1, 2026.

The minister said 134 submissions had been received from across Nigeria’s geopolitical zones following the government’s call for public input. Key proposals included simplifying VAT thresholds, withholding tax and capital gains provisions, tackling multiple taxation and improving coordination among revenue authorities.

Stakeholders also called for greater digitalisation and data sharing to reduce repeated requests for information already held by government agencies, alongside stronger taxpayer protections, faster refunds and safeguards for small businesses.

Oyedele said the review would also cover fiscal policy and management, public financial management, debt, transparency, capital markets and cross-border capital flows.

He directed the subcommittee to complete its assignment within six weeks. The panel will also review the 2024 Deduction of Tax at Source Regulations and prepare revised withholding tax regulations.

The committee is chaired by the Permanent Secretary of the Federal Ministry of Finance, with the Chairman of the Tax Advisory Committee serving as co-chair. Representatives of key government institutions, business organisations and professional bodies are members of the panel.