Nigeria’s Senate passed the Revenue Service (Establishment) Bill and the Nigeria Tax Administration Bill on 7 May 2025 after they had been considered for third reading and passed by the Senate.
The Senate passed both bills but rejected the proposal to raise the value-added tax from 7.5% to 10%, opting instead to keep the current rate unchanged.
The remaining two of the four tax reform bills, i.e. the Nigeria Tax Bill and the Joint Revenue Board (Establishment) Bill, are slated for passage by 8 May 2025. Once the National Assembly passes all four Bills, they will be sent to the President for approval.
Earlier, Nigeria’s House of Representatives approved the recommendations from its Finance Committee, maintaining the VAT rate at 7.5%. The previous proposal was to increase to 12.5%, which was set for 2026.
