ABUJA, Nigeria — The Federal Government has issued comprehensive transitional guidelines to govern the migration from old tax laws to the country’s newly overhauled fiscal framework, which legally took effect on January 1, 2026.
The operational directive was officialized on Thursday, June 18, 2026, by the Federal Ministry of Finance to provide administrative certainty and prevent the retrospective application of new levies on businesses and individuals.
Okay News reports that the compliance roadmap outlines the implementation process for the Tax Acts 2025, which comprises four newly enacted pieces of legislation: the Nigeria Revenue Service (Establishment) Act, the Nigeria Tax Act, the Nigeria Tax Administration Act, and the Joint Revenue Board (Establishment) Act. Under the new guidelines, all tax returns, audits, disputes, and liabilities for financial accounting periods ending before January 1, 2026, will still be processed and settled using the previously repealed tax laws.
Conversely, any accounting cycles ending on or after the January 2026 commencement date must strictly adhere to the updated provisions. The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, explained that the transition framework is anchored on clarity, fairness, and administrative certainty. He noted that while existing tax incentives and exemptions granted under old laws will be honored until their expiration dates, all pending or fresh incentive applications will be evaluated under the new regime. The guidelines aim to ensure uniform enforcement across the Nigeria Revenue Service, state internal revenue boards, and local government revenue committees nationwide.
