TAX

The data showed that road tax collections fell by N16.22bn, or 40.42 percent, from N40.14bn in 2023 to N23.92bn in 2024 before rebounding by N25.96bn, or 108.53 percent, to N49.88bn in 2025.

Under Section 36 of the Nigeria Tax Administration Act (NTAA), the rules surrounding tax audits and additional assessments have been laid bare. The truth is simple: the tax authority can revisit your old books far beyond the six-year mark, and if you cannot prove your numbers because you threw your records away, you will pay dearly for it.

Under the old, repealed Value Added Tax Act, businesses were trapped in an unfair, distorted tax system that treated essential operational expenses as luxury overheads.

The measure is contained in the Nigeria Tax Administration (Interest on Late Payment of Tax) Order, 2026, issued by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, under Section 65 of the Nigeria Tax Administration Act, 2025.

For years, many high-earning remote workers, tech professionals, international consultants, and big-time executives in Nigeria lived by one simple tax rule: the "183-day game."

Paying tax to the wrong authority does not grant immunity from penalties.

Tax crimes and fraud accounted for more than half of the financial crime intelligence reports disseminated by the Nigerian Financial Intelligence Unit (NFIU) to law enforcement and regulatory authorities in 2025, while banks remained the dominant source of suspicious transaction reports.

Nigeria’s tax administration landscape is undergoing a fundamental transformation, shifting from passive revenue collection to proactive, intelligence-led enforcement. At the heart of this statutory evolution is Section 69 of the Nigeria Tax Administration Act, 2025 (NTAA), a provision that formally institutionalizes a reward framework for tax whistleblowers.

Tinubu’s offshore tax incentives could unlock $50bn in investments and push Nigeria’s oil output up by nearly 1mbpd. Nine deep offshore projects are lined up for FIDs, with $10bn Bonga South expected to lead the new production wave...

PwC says unresolved issues around wallet transfers, asset valuation and withholding tax could complicate compliance. VASPs face extensive reporting and tax-administration duties, with penalties reaching N10 million for the first month of default. The firm says clearer guidance...