Nigeria, July 1 -- The Nigerian Tax Act 2025, which became law last Thursday after several months in the works, consolidated four tax reform bills into a single document for efficiency and ease of reference.

They include the Nigerian Tax Act, the Nigerian Tax Administration Act, the Nigerian Revenue Service Act and the Joint Board Revenue Board Act into a single document for efficiency and ease of reference.

That feat is a major breakthrough for Africa's largest oil producer, where a prolonged reliance on a colonial tax structure has arrested growth, hindered competitiveness and fuelled an opaque tax system, leaving tax as a share of GDP at one of the lowest levels in the world.

Under the former regime, Nigeria collected more than sixt...