ABSTRACT The review inspected finance Act reforms and the profitability of firms in Nigeria’s petroleum area. The particular goals were to; assess the impact of Petroleum Profit Tax change on profit for the extended time of oil and gas firms in Nigeria and inspect the impact of custom and excise duties on profit for the extended period of oil and gas firms in Nigeria. The ex-post plan was embraced for the review. The examination of information was done utilizing an arbitrary board relapse model. It was figured out that petroleum profit tax change meaningfully affects profit for the time of oil and gas firms in Nigeria and custom and excise duties significantly affect profit for the extended period of oil and gas firms in Nigeria. The review suggested that tax experts in Nigeria should guarantee viable and productive execution of petroleum tax change strategy 2020 and that tax specialists should be careful in tax organization to avoid various taxation exacted on imported merchandise in Nigeria.