The Director General of the National Board for Technology Incubation (NBTI) Dr. Kazeem Kolawole Raji has applauded President Bola Tinubu for signing the Tax Reforms Acts 2025 into law.

The newly assented Acts include the Nigeria Tax Act (NTA), the Nigeria Tax Administration Act (NTAA), the Nigeria Revenue Service Act (NRSA), and the Joint Revenue Board Act (JRBA).

Raji said the NBTI for the first time, the agency has become a beneficiary of the National Development Levy, describing this as a watershed moment.

“This allocation will empower NBTI to scale its programmes, drive indigenous innovation, and provide critical support to Nigeria’s MSMEs and tech start-ups.

“This shows that President Tinubu’s administration is not only reforming revenue, it is also investing in technological innovations,” he noted.

Dr Raji added that the Nigerian Tax Reform Acts 2025 were not just laws but blueprints for a new nation ensuring fair taxation, inclusive growth, and indigenous development.

He noted that the legislative milestone marked a historic turning point for Nigeria’s fiscal architecture in strengthening economic resilience, incentivising productivity, and ensuring that the nation’s tax system works for every Nigerian, from micro-entrepreneurs to multinational conglomerates.

Raji said by Tinubu’s bold leadership, he charted a path toward equity, efficiency, and enterprise at a time when most would tread cautiously.

“His Renewed Hope Agenda is not just a slogan, it is a governance philosophy, deeply rooted in economic reform, national inclusion, and institutional revitalisation.

“With the signing of these Acts, the President has once again demonstrated his unflinching commitment to reengineering Nigeria’s economic foundations and championing homegrown prosperity,” Dr Raji said.

On the benefits of the reforms, Raji noted that small firms with turnover below ₦100 million are now exempted from key taxes, and offered increased capital gains tax for corporate bodies from 10% to 30% to ensure a fair and balanced contribution from larger players.

He also highlighted the tax on indirect share transfers aimed at closing loopholes and strengthening Nigeria’s position in cross-border transactions.

The NBTI boss stressed the introduction of a Unified Development Levy, a consolidated 4% levy that funds essential development agencies like TETFUND, Nigerian Education Loan, NASENI, NBTI, NITDA, Defence and Security Infrastructure Fund and National Cybersecurity Fund.

He added that the new tax laws also provides Progressive Personal Income Tax, giving more relief for the poor, and a just contribution from the wealthy, as low-income earners below ₦800,000 annual income are now completely exempted from tax.

Another benefit, according to him, is the minimum effective tax rate for multinationals, a 15% minimum tax which ensures that Nigeria earns its fair share from global commerce.

“These provisions are not merely technical—they are transformational, aiming to create a just, business-friendly, and digitally enabled tax environment,” he said.

The NBTI boss applauded the National Assembly for their unwavering dedication in national interest towards harmonising the complex tax bills by debating contentious clauses, leading to the production of a unified reform framework that now forms the cornerstone of Nigeria’s economic rebirth.

“This is a legislative body aligned with the times and attuned to the needs of the Nigerian people,” he said.

He commended the Chairman, House Committee on Finance, Hon. James Abiodun Faleke, for what he termed his unequal leadership, unmatched vision and uncompromising service.

“Rt. Hon. Faleke is not just a lawmaker. He is a nation-builder. A fiscal reformer. A dependable pillar of President Tinubu’s vision for a new Nigeria,” he said.

The NBTI DG further noted the inputs of the Chairman, Presidential Committee on Tax Reforms, Mr. Taiwo Oyedele, for his committee’s technical brilliance that laid the groundwork upon which the legislation was built, “ensuring that reforms are globally competitive yet domestically relevant.“

Similarly, Raji praised the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, for reposition Nigeria’s tax administration systems. “His unwavering support of the reform process has provided both institutional stability and strategic direction to Nigeria’s fiscal transformation.”