Policy Shift Targets Informal Economy NIGERIA’S new tax framework introducing a 1 percent turnover levy on small businesses is generating concern among analysts and operators in the informal sector. Unlike traditional taxation based on profit, the turnover tax applies directly to revenue, meaning businesses may be required to pay taxes even when they are not […]
Shift in Revenue Collection Framework THE Nigeria Revenue Service (NRS) has officially assumed responsibility for the collection of mineral royalties from mining operators nationwide, marking a significant shift in Nigeria’s fiscal administration. The transition, which took effect on 1st January 2026, follows the implementation of the Nigeria Tax Laws 2025 signed into law by Bola […]
By OBI DAVIES THE Federal Government has introduced a new set of regulations aimed at reforming Nigeria’s informal tax system, banning roadside tax collections and cash-based enforcement while seeking to bring millions of informal businesses into the tax net. The reforms were announced by the Minister of Finance and Coordinating Minister of the Economy, Wale […]
By FIDELUS ZWANSON Rising Rents, Growing Frustration AMID growing public anger over escalating housing costs, real estate stakeholders have warned that removing VAT on land and rent will not deliver meaningful relief to tenants. Although the Federal Government has exempted VAT on land, buildings and rent under the current tax framework, property professionals argue that rental […]
Taxes to Contribute 20.84% of 2026 Federal Revenue — CBN THE Central Bank of Nigeria has projected that taxes will account for 20.84 per cent of the Federal Government’s estimated ₦35.51 trillion retained revenue in 2026, reflecting ongoing efforts to strengthen non-oil revenue mobilisation. In its latest macroeconomic outlook for 2026, the apex bank stated […]
NRS Clarifies Double Taxation Relief THE Nigeria Revenue Service (NRS) has assured taxpayers that the new tax law contains measures to prevent double taxation on foreign-sourced income. According to a Frequently Asked Questions (FAQ) report issued by the agency, Sections 120 to 123 of the Nigeria Tax Administration Act 2025 provide for […]
Early Gains from Tax Reforms NIGERIAN workers have begun to feel the impact of the country’s newly enacted tax reforms, with many recording higher take-home pay following a reduction in Pay As You Earn (PAYE) deductions, according to the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele. Oyedele disclosed this on […]
By MARY EFOMBRUH “Experts and Execution: Can Nigeria’s Tax Law Reforms Weather Ambiguity?” The Stage: Nigeria’s Tax Law Overhaul NIGERIA’S sweeping tax reforms — brought into effect on 1 January 2026 through the Nigeria Tax Act (NTA) and supporting legislation — aim to simplify the tax system, eliminate nuisance levies, and make taxation more efficient and […]
POLICY & INDUSTRY IMPACT ANGLE MAN Seeks Structured Redress for Manufacturers THE Manufacturers Association of Nigeria (MAN) has announced plans to formalise a working agreement with the Nigeria Revenue Service Ombudsman aimed at resolving tax-related complaints affecting local manufacturers. The initiative is designed to provide manufacturers with an institutional channel for addressing disputes arising from […]
Bishops Urge Gradual Enforcement of New Tax Laws THE Catholic Bishops of Ibadan Ecclesiastical Province have called on the Federal Government to delay the full application of new tax laws until vulnerable Nigerians are adequately informed about the reforms. The call was made during their first 2026 meeting at the Jubilee Conference Centre (JCC), Ibadan, […]