Tax revenue per person shows that the South West generated ₦42,327 per capita, substantially higher than the ₦27,066 recorded in the South South and ₦17,522 in the North Central.
Data from the National Bureau of Statistics (NBS) showed that PAYE remained the largest source of tax revenue for state governments, accounting for about 69.5 percent of the N3.79tn collected from taxes during the year.
Under Section 21(p) of the Nigeria Tax Act (NTA) 2025, the government has established a strict statutory cross-link between transactional taxes and profit taxes. The provision explicitly mandates that if VAT was due on a business expense under the Act but was not charged, or if applicable import duties and levies were not paid on imported items, the entire underlying expense becomes non-deductible for income tax purposes.
Zenith Bank Plc reported a 1.91 percent year-on-year increase in profit before tax to ₦637.6 billion for the half-year ended June 30, 2026, and proposed a 20 percent increase in its interim dividend to ₦1.50 per share.
The findings were contained in the apex bank’s latest Business Expectations Survey, which showed that while firms remained concerned about several aspects of the operating environment, overall business sentiment stayed positive during the month.
Under the old, fragmented regulatory landscape, tracking virtual asset transactions felt like an impossible task for the government. Cryptocurrencies operated in a grey market, allowing traders to buy, sell, stake, and yield-farm without clear rules about formal tax reporting.
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Under the old, repealed Value Added Tax Act, businesses were trapped in an unfair, distorted tax system that treated essential operational expenses as luxury overheads.
An Akwa Ibom State High Court sitting in Uyo has dismissed a petition seeking the dissolution of a marriage that has lasted over 43 years, ruling that lack of love and mutual respect between spouses does not, on its own, constitute sufficient legal grounds for divorce.
