Rather than raising taxes, Nigeria is reshaping its revenue mobilisation strategy to widen the tax base and improve the efficiency of tax collection. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, reiterated this at the BusinessDay 14th Annual CEO Forum in Lagos, describing the approach as key to sustaining long-term economic …
As the March 31 deadline for filing Pay As You Earn (PAYE) tax returns approaches, many Nigerians are trying to understand what exactly they need to do. Online conversations show widespread confusion, especially among employees who assume that once their employer deducts tax, their responsibility ends. However, filing a personal income tax return is a …
The Nigeria Revenue Service (NRS) has fixed January 2028 as the deadline for the full transition to mandatory electronic invoicing. The move, the agency says, will transform tax administration through real-time transparency, reduced fraud and improved economic planning. Project Manager for the e-invoicing implementation, Mohammed Bawa, made this known on Tuesday at a stakeholders’ workshop …
The Chairman of the Alliance for Economic Research and Ethics (AERE), Dele Oye, has said Nigeria could unlock billions of naira in additional revenue by integrating the country’s vast faith-based economy into a more formal and transparent tax framework under the new tax regime. He believes that the Nigeria Tax Act (NTA) and the Nigeria …
As Nigerians look forward to the implementation of new tax laws, the Federal Inland Revenue Service (FIRS) said one key change in the Nigeria Tax Act (NTA) 2025 is the pegging of the development levy at a single rate of four per cent. The Coordinating Director of the Medium Taxpayers Group at the FIRS, Dick …
Social media users have begun to raise concerns that landlords will hike rents because of a provision in the new tax law. Their worries bordered on the provision of the 20 per cent relief on annual rent and up to ₦500,000 relief the new tax law provides. In a Facebook post, a social media user …
The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, has urged the federal government to either reduce the capital gains tax (CGT) to 10 per cent or defer the implementation date. The renowned economist said this on Channels Television's Business Morning programme on Tuesday, November 11, while sharing his thoughts on what …
In a sweeping structural reform, Nigeria has effectively abolished its standalone 10% Capital Gains Tax (CGT) and integrated the gains into its new income tax regime, a move that has triggered widespread debate over its potential to stifle investment or modernize tax fairness. Under the newly signed Nigeria Tax Act, 2025, capital gains for individuals …
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said that the new tax law will offer investors in the Nigerian capital market a N150 million annual exemption in capital gains tax (CGT). Oyedele reportedly clarified this during a high-level stakeholders dialogue with issuers, investors, intermediaries, and regulators, convened …
The Manufacturers Association of Nigeria (MAN) has raised significant concerns over the potential introduction of a tax stamp system for excisable goods, warning that such a move could undermine the government’s recent tax reforms and place an additional financial burden on local industries. While the association acknowledges the government's efforts to modernise tax administration through …
