Nigeria: Income Tax

One of the objectives of the new tax laws is to ‘optimize fiscal revenue’. It is expected that the implementation of the laws will double tax-to-GDP ratio in the short run. This is by widening the tax net while providing incentives to already-compliant taxpayers to pay more tax. The tax laws also increase the power of the tax authorities to have access to hitherto private banking records to discourage tax evasion.

On 18 June 2026, the Federal Government,[1] through the Honourable Minister of Finance and Coordinating Minister of the Economy, issued[2] the General Transition Guidelines (“the Guidelines”) for the implementation...

Nigeria's Federal Ministry of Finance has issued General Transition Guidelines to support the implementation of four landmark tax statutes signed into law in June 2025, establishing a unified modern tax framework.

The Federal Government has introduced significant fiscal reforms in the mining sector with the enactment of the Nigeria Tax Act, 2025 (NTA) and the Nigeria Tax Administration Act, 2025 (NTAA). These new laws represent a definitive departure from the previous fiscal regime, which was primarily governed by the Nigerian Minerals and Mining Act, 2007 (the "Mining Act") and the Companies Income Tax Act, 1977 (as amended) (CITA).

Statement of the Problem Recent decisions have emanated from the courts which are to the effect that the exercise of jurisdiction by the TAT as an administrative tribunal...

The decision of the Federal High Court ("the Court") in Shell Petroleum Development Company of Nigeria Limited v. Federal Inland Revenue Service (FIRS)1 has brought renewed attention to fundamental principles of Nigerian tax law, particularly regarding the proration of tax rates within an accounting year and the retrospective application of tax legislation.

Freight tax in Nigeria is an important but often misunderstood aspect of doing business in the logistics, shipping, and import-export sectors. With multiple taxes, levies and regulatory charges imposed...

Nigeria's tax framework has recently undergone significant reform aimed at improving economic efficiency and easing the cost of doing business.

In a significant overhaul of the Nigerian tax framework, the Nigeria Tax Act, 2025 ("NTA" or "the Act"), among other pieces of legislation, were signed into law by the President of the Federal Republic of Nigeria on 26 June 2025.