On June 26, 2025, Nigerian President Bola Tinubu signed into law four tax reform bills aimed at modernizing and streamlining the country's fiscal and revenue framework. These bills consolidate existing tax laws into a simplified and accessible document to facilitate compliance for individuals and businesses. The reforms maintain the value-added tax (VAT) rate at 7.5% and the corporate income tax (CIT) rate at 30%. The National Revenue Service, led by Executive Chairman Zacch Adedeji, announced that the new tax laws will take effect on January 1, 2026. The government stated that these reforms are intended to reset Nigeria's economic trajectory, simplify the complex fiscal landscape, and improve revenue collection in Africa's most populous nation. The Abuja Chamber of Commerce and Industry has commended the legislation and urged for its effective implementation to foster business growth. Ogun State Governor Dapo Abiodun also praised the reforms, highlighting their potential benefits for Nigerians and the economy.