Nigeria is undergoing a broad-based reform effort. This remodelling focuses on fiscal restructuring, macroeconomic stability, governance improvement, transparency, and digital modernization to spur economic growth, reduce poverty, and restore public trust.

The reforms represent a substantial shift from past practices, aiming to build a more resilient and inclusive economy.

Tax System Overhaul

In June 2025, President Bola Tinubu signed into law four key finance bills to reform Nigeria’s tax framework.

Nigeria Tax Act consolidates fragmented tax laws into a unified code, eliminates over 50 redundant taxes, simplifying compliance and boosting business operations.

Tax Administration Act sets uniform tax collection procedures across federal, state, and local governments.

Nigeria Revenue Service Act replaces the former Inland Revenue Service with a new, autonomous Nigeria Revenue Service to enhance revenue collection efficiency.

Joint Revenue Board Act improves coordination among different government levels and establishes a Tax Ombudsman office to address disputes.

These reforms aim to increase government revenue, reduce tax burdens on low-income households, and improve business environments via clearer, more efficient tax processes.

Macroeconomic and Fiscal Reforms

The government ended central bank financing of fiscal deficits, liberalized the foreign exchange market, and reformed fuel subsidies since 2023, with ongoing consolidation in 2025.

The 2025 budget focuses on restoring macroeconomic stability by controlling inflation, stabilizing the naira exchange rate, and increasing oil production. Targeted fiscal stimulus packages and infrastructure investments in transport, education, and healthcare are part of the agenda.

Governance and Anti-Corruption Reforms

Calls for strengthened governance, transparency, and anti-corruption measures continue as core priorities. Civil society leaders are urging the government to enhance political stability and transparency, improve security systems, and combat corruption more effectively.

Open Government and Transparency Initiatives

Nigeria’s third open government action plan (2023–2025) promotes fiscal openness, beneficial ownership transparency, enhanced right to information, and improved public service delivery. Emphasis is placed on strengthening budget transparency, natural resource governance, and climate change policy transparency.

Digitalization of Public Services

The Nigeria Immigration Service is moving to fully digital application processes for work and residence permits (CERPAC), eliminating physical forms starting August 2025 to improve transparency and service efficiency.