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 …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Revenue Service (NRS) have strengthened their partnership aimed at boosting revenue collection for the Federation. The decision was taken on Monday, when the new NUPRC Chief Executive, Oritsemeyiwa Eyesan, visited the NRS Chairman, Zacc Adedeji, at the corporate headquarters of the tax agency in Abuja. …
The Federal Inland Revenue Service (FIRS) has clarified that the National Identification Number (NIN) issued by the National Identity Management Commission (NIMC) now automatically serves as the Tax Identification Number (TIN) for individual Nigerians. The announcement was made on Monday as part of a public awareness campaign on the new tax laws, shared by FIRS …
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 Federal Inland Revenue Service (FIRS) is set to hold the second edition of its 2025 Tax Clinic in Abuja through the Emerging Taxpayers’ Group (ETG). The initiative aims to simplify tax processes, educate citizens, and promote voluntary compliance ahead of the rollout of new tax laws. The one-day event, themed “Tax Clinic for Tax …
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has announced that about 98 per cent of Nigerian workers will be exempted from Pay-As-You-Earn (PAYE) deductions when the new tax law becomes effective in January 2026. Oyedele made this known during a session at the 31st Nigerian Economic Summit (NES31) in …
