Nigeria’s attempt to bring its rapidly expanding cryptocurrency market firmly into the tax net is facing an early test, with lawyers and digital-asset operators questioning whether the new regime could drive transactions away from regulated platforms, deepen the informal peer-to-peer market and ultimately make tax collection harder. The concerns followed the release of new guidelines …
The outgoing British High Commissioner to Nigeria, Richard Montgomery, has commended the economic reforms of President Bola Tinubu administration, saying the measures, despite causing short-term hardship, would place the country on a stronger footing in the long term. Montgomery spoke on Tuesday during a farewell visit to the Revenue House in Abuja, where he described …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Revenue Service (NRS) have strengthened partnership to enhance transparency, accountability, and efficiency in revenue collection across the nation’s oil and gas sector. The collaboration comes at a critical juncture as Nigeria’s upstream sector shows clear signs of recovery, with the government pushing toward a sustained …
Nigeria’s fiscal reform programme has reached a defining institutional milestone, with the Minister of State for Finance, Taiwo Oyedele, declaring that the country’s revenue system has been fundamentally restructured for performance, efficiency, and long-term sustainability. Speaking on behalf of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, at the commissioning of …
President Bola Ahmed Tinubu on Tuesday inaugurated the new Corporate Headquarters of the Nigeria Revenue Service (NRS) in Abuja, charging the agency to uphold trust, fairness, and accountability as Nigeria advances its fiscal reform programme. Speaking at the ceremony, the President said the NRS must earn public confidence and international respect through transparent and efficient …
Nigeria’s sweeping fiscal reforms are beginning to yield measurable results, with the Executive Chairman of the Nigeria Revenue Service (NRS), Zacch Adedeji, declaring that the country has moved from policy intentions to real execution under President Bola Ahmed Tinubu. Speaking at the commissioning of the NRS Corporate Headquarters in Abuja on Tuesday, Adedeji said the …
President Bola Ahmed Tinubu has commissioned the Corporate Headquarters of the Nigeria Revenue Service (NRS) in Abuja, marking a defining moment in the Federal Government’s push to overhaul the country’s revenue generation system. The high-profile ceremony brought together top political leaders, including Senate President Godswill Akpabio, Deputy Senate President Jibrin Barau, Speaker of the House …
FG Moves to Centralise Revenue Collection, Retains Technical Oversight with the Solid Minerals Ministry The Federal Government has handed over the collection of mineral royalties from mining operators nationwide to the Nigeria Revenue Service (NRS), in a major policy shift aimed at strengthening revenue administration under the new tax laws. The Ministry of Solid …
The federal government has dismissed as false a viral video claiming that Nigeria’s new tax laws will only commence in 2027 and that a 25 per cent tax has been imposed on funds meant for building materials and other transactions. This was contained in a separate clarification by the Presidential Fiscal Policy and Tax Reforms …
The Federal Government of Nigeria has set a bold revenue target of ₦40.7 trillion for 2026. Officials say the goal is to boost domestic revenue and reduce dependence on borrowing. The target, revealed at the Nigeria Revenue Service (NRS) Management Retreat in Abuja on Tuesday, represents a 44 per cent increase from the ₦28.29 trillion …
