Hauwa Ali
When 35-year-old Ijeoma, a tax consultant in Lagos, saw the headlines about Nigeria’s new tax bills, she didn’t just skim the article—she printed the whole thing out, highlighter in hand.
“I knew this wasn’t just another policy update,” she says. “This was an invitation. A whole new market just opened up.”
She’s not alone in that thinking. Across the country, from tax pros and lawyers to freelance coders and small business owners, professionals are taking a closer look at the landmark tax reform bills passed in early 2025—and seeing something rare: opportunity.
The reforms—bundled into five new laws that overhauled Nigeria’s tax structure—are meant to simplify, rebalance, and localize the system. But beyond those big-picture goals, they’re already creating ripples on the ground. New jobs. New clients. New services. New businesses.
Here’s what’s changing—and who’s cashing in.
Let’s be honest: Nigeria’s tax system used to be a maze. Businesses got taxed in multiple places for the same thing. Freelancers weren’t sure where to file—or even if they had to. And most people tuned out anything tax-related unless the FIRS came knocking.
That’s part of what these new laws will fix. The reforms will accomplish four main objectives: Simplify the tax code into clear, unified laws; shift value-added tax (VAT) revenue from the federal government to state and local governments; protect low-income workers by eliminating or reducing personal income taxes and support small businesses with tax breaks and incentives.
For most professionals, these changes mean fewer roadblocks—and more room to grow.
The Tax Consultant’s Golden Hour
Ijeoma, the Lagos tax consultant, has already seen her client list double since the bills were passed. Why? Because the new system, while simpler in theory, still requires strategy.
“There’s a difference between knowing the law and knowing how to use it,” she says. “People are calling like, ‘Hey, how do I register for this VAT refund?’ Or, ‘Can I restructure my business to qualify for tax relief?’”
It’s the beginning of a boom for tax professionals: accountants, auditors, tax attorneys. With the introduction of the Nigeria Revenue Service (NRS) and a streamlined Tax Appeals Tribunal, businesses are seeking help navigating the new setup, avoiding mistakes, and planning smarter.
Samuel Agbeluyi, president of the Chartered Institute of Taxation of Nigeria, puts it plainly: “This reform has made tax professionals not just necessary—but central to the economy.”
Lawyers are getting busier too. At a mid-sized law firm in Abuja, business lawyer Nnamdi Okonkwo has started offering “Tax Strategy Reviews” as a service to clients.
“Everyone’s restructuring,” he says. “Even SMEs want to make sure their business model fits within the new incentives.”
There’s a lot to review. Export services and intellectual property are now exempted from VAT. Companies under ₦50 million income don’t pay corporate income tax. And workers earning under ₦1 million a year? No more PAYE tax.
“These are huge shifts,” Nnamdi says. “And when the dust settles, the lawyers will be the ones making sure companies are doing it right.”
He’s also expecting a rise in tax appeals and dispute resolution. With the new tribunal and ombudsman in place, businesses have more tools to fight unfair assessments—but they’ll need good legal help to do it.
For Freelancers and Remote Workers, there’s Chika, a 27-year-old UX designer based in Enugu. She works remotely for a U.S. software company, earns in dollars, and files her taxes online.
For the first time, she feels like the system sees her.
“With the new laws, I know where I stand,” she says. “My export services are tax-exempt, and I don’t have to worry about double VAT on cross-state payments. It’s clean.”
Freelancers like Chika are on the rise in Nigeria, especially in tech, writing, design, and marketing. The tax reforms give them a boost—reducing costs, removing red tape, and making global work easier to manage.
And it’s not just Lagos anymore. Kano, Port Harcourt, Benin, and Jos are all seeing growth in remote-friendly talent hubs.
“The opportunity is massive,” Chika says. “But we have to get the information out. So many freelancers still don’t know how to register properly or what they’re eligible for.”
Small Businesses just got a lift too. It’s not just professionals seeing new doors open—entrepreneurs are walking through them too.
At a small fashion studio in Lagos, Temitope runs a team of five tailors. With revenues under ₦50 million, she’s now exempt from corporate income tax.
“That alone saved me enough to buy two new sewing machines,” she says.
She’s also no longer charging VAT on her school uniform line—because children’s clothing is one of the exempted items under the new laws.
“That means I can keep prices lower, and still make my margins.”
Temitope says she’s already thinking about expanding—maybe even opening a second location in Uyo.
“Before, tax was something you feared,” she says. “Now, it’s something you can work with.”
A Real Estate Ripple Effect
The housing market is also seeing the upside. New construction is now VAT-exempt. Stamp duty on rent under ₦10 million? Gone. These changes are giving real estate developers, agents, and even surveyors something they haven’t had in a while: breathing room.
“I closed five rental agreements last week because of the new exemptions,” says Ayo, a property manager in Ibadan. “Tenants are signing faster because costs are lower. Landlords are happier too.”
Add to that the demand for housing from newly remote professionals like Chika, and the sector could be in for a quiet renaissance.
Of course, with new money comes new decisions. That’s where financial advisors are stepping in.
“People are seeing more money in their bank accounts,” says Hauwa, a personal finance coach in Kaduna. “Especially folks who used to pay PAYE. Now they want to know: what should I do with it?”
She’s helping clients budget smarter, save better, and even invest—often for the first time.
Corporate clients, too, are coming around. With phased reductions in corporate tax rates (from 30% to 25% over the next two years), many are ready to reinvest in growth.
“It’s a perfect moment for advisors,” Hauwa says. “The laws changed—but people still need guidance.”
Not All Smooth Sailing
Of course, no reform is perfect. Critics warn that some states could struggle with the new VAT-sharing formula, especially those with smaller economies.
There’s also concern about implementation: will the Nigeria Revenue Service and Joint Revenue Board have the capacity to roll this out smoothly? Will taxpayers understand their new rights—and responsibilities?
“There’s a learning curve,” admits tax consultant Ijeoma. “But that’s why we’re here. That’s why this moment matters.”
So What Should Professionals Do Now?
If you’re a professional, this is a chance to adapt—or be left behind. Here’s a quick roadmap:
Tax professionals: Get licensed with the NRS. Specialize in VAT, appeals, or SME compliance. Stay sharp.
Lawyers: Learn the new structures inside and out. Focus on tax litigation, cross-state issues, and IP taxation.
Freelancers: Know your exemptions. Use them. Register properly. Consider creating a tax-efficient entity.
Financial advisors: Package services for the newly tax-free—especially PAYE workers and small firms.
Educators and trainers: Create courses in tax literacy, remote work readiness, and small business strategy.
Back in Lagos, Ijeoma is still on the phone—talking a new client through VAT exemption forms.
“This is just the beginning,” she says. “If we get this right, Nigeria could become one of the most professionally friendly countries in Africa.”
Tax reform isn’t always headline news. But sometimes, it’s the quiet laws that make the loudest difference.
And for professionals across Nigeria, this one might be the biggest opportunity in a generation.