The Nigeria Revenue Service (NRS) has urged content creators and other operators in the creative industry to formalise their businesses, obtain tax identification numbers and maintain proper financial records to benefit from available tax incentives and investment opportunities.
A more inclusive procurement system could unlock opportunities for thousands of Nigerian businesses, stimulate local production, encourage entrepreneurship and strengthen domestic supply chains.
Traders and transporters facing repeated payment demands could get relief under tax laws adopted by 21 states, although the Joint Revenue Board says illegal collections and harassment continue.
Nigeria's federally collected revenue received a major boost in August 2026 as the Nigeria Revenue Service (NRS) generated N3.70 trillion in tax and related revenue, driven largely by strong petroleum taxes, royalties and Value Added Tax (VAT) receipts.
Virtual-asset tax defaulters face a N10 million penalty in the first month and N1 million for every subsequent month, according to PwC’s analysis of the NRS guidelines.
Failure to deduct tax at source attracts a 40 percent penalty,...
Nigeria Revenue Service Chairman Zacch Adedeji has identified fuel subsidy, an opaque foreign exchange market, an underperforming oil sector and a narrow tax base as four major economic distortions inherited by the Tinubu administration.
Adedeji said the problems...
Adedeji insists Tinubu lives a frugal lifestyle, saying the President walks to his office daily, eats only one meal and has avoided foreign trips in recent months.
NRS chairman dismisses criticism over the President's convoy, arguing Tinubu's personal...
Nigeria’s tax collections rose 113 percent from ₦12.3 trillion in 2023 to ₦27.1 trillion by July 2026, with the Nigeria Revenue Service attributing the increase to tax-system digitisation, new tax laws and measures to close revenue leakages.
The...
Nigeria Revenue Service Chairman Zacch Adedeji says the government’s tax reforms are designed to increase economic prosperity rather than extract more money from households and businesses.
Adedeji said the NRS has a direct interest in businesses succeeding because...
The Edo State opposition accuses Governor Monday Okpebholo of making baseless allegations against former governors Godwin Obaseki and Peter Obi, urging him to focus on delivering tangible development rather than deflecting criticism of his administration.
