NRS

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.

The Nigeria Revenue Service (NRS) has sealed the headquarters of Kaduna Electric over alleged non-compliance with its statutory tax obligations.

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...

Nigeria’s tax revenue surged 113% to N27.1tn by July 2026 from N12.3tn in 2023. The Nigeria Revenue Service linked the increase to tax digitisation, new tax laws and tighter revenue administration. Oil production, foreign reserves, capital inflows and...

The Nigeria Revenue Service has issued new guidelines outlining the tax treatment of cryptocurrency and other virtual asset transactions under the 2025 tax laws. The framework sets out registration, reporting, valuation and record-keeping requirements for taxpayers, Virtual Asset...

Large taxpayers with annual turnover above ₦5bn have until July 31 to comply with the Nigerian Revenue Service's e-invoicing requirement or face statutory penalties. The NRS says businesses that fail to transmit invoices electronically risk a ₦200,000 fine...