Analysts say rising compliance obligations under Nigeria’s evolving tax regime could trigger increased banking and service fees. NIGERIAN consumers may soon face higher banking and transaction charges as financial institutions adjust to the growing compliance demands introduced by the country’s ongoing tax reforms. Industry experts and tax analysts have warned that the increasing operational costs […]
Fresh Tobacco Tax Policy Sparks Public Health Debate NIGERIA’S 2026 tobacco tax regime has triggered criticism from health advocates and policy analysts, who argue that the new framework offers limited deterrence to smoking while preserving favourable conditions for the tobacco industry. The controversy follows the Federal Government’s approval of the 2026 Fiscal Policy Measures and […]
Nigeria Revenue Agency Moves to Quash Viral Vehicle Tax Claim A viral social media claim alleging that Nigeria would introduce a new “green tax” surcharge on high-capacity vehicles from 1st July 2026 has been officially denied by a government revenue authority account, which described the circulating notice as fake. The claim, shared through an X […]
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 […]