Nigeria: Tax Authorities

The statutory basis of the 6th August 2026 executive order, what it replaces, what it preserves, where discretion still sits, and why it matters to investors, lenders, and project sponsors.

Nigeria's Minister of Finance has issued the Presumptive Tax Regulations 2026, establishing a simplified framework for assessing income tax from taxpayers without adequate accounting records. This landmark regulation forms part of Nigeria's broader tax reform agenda aimed at expanding the tax base while reducing compliance burdens for small and informal businesses.

Nigeria's Revenue Service has issued comprehensive guidelines clarifying how virtual assets are taxed under existing legislation. The framework addresses taxation for individuals and businesses engaged in cryptocurrency trading, virtual asset service providers, and peer-to-peer marketplaces. A notable feature is the requirement to compute gains in US dollars rather than Naira.

Nigeria's General Transition Guidelines for the Tax Acts 2025 establish a comprehensive framework for managing the shift from repealed tax laws to the new system. These guidelines address critical questions about existing obligations, ongoing disputes, tax incentives, and pending transactions while ensuring that reforms will not be applied retroactively to past matters.

On 18 June 2026, the Federal Government recently issued the General Guidelines for the implementation of the 2025 Tax Acts, providing a transitional framework for the application of the new tax legislation and expressly precluding the retroactive application of the Acts. The Guidelines are intended to provide the much-needed clarity on compliance obligations as the new tax regime takes effect.

This article examines the implications of Nigeria's tax administration transition for enterprises regulated by the Nigeria Export Processing Zones Authority (NEPZA) and the Oil and Gas Free Zones Authority (OGFZA). It considers the pre-reform legal position, the structural changes introduced by the Nigeria Tax Administration Act, and how those changes affect NEPZA and OGFZA regulated entities.

This comprehensive review examines Nigeria's major policy developments introduced in March 2026, spanning tax reform, education verification, humanitarian protection, health regulation, climate risk management, security...

Nigeria's Revenue Service has launched Rev360, a fully digital tax administration platform replacing TaxProMax.

Nigeria's Federation Account, the constitutional repository for all federal revenues, is hemorrhaging up to ₦20 trillion annually through systemic leakages and unauthorized deductions. With nearly 40% of gross revenues consumed before distribution to government tiers, the country faces a paradox of substantial revenue generation alongside crushing debt, raising urgent questions about constitutional compliance, institutional accountability, and the structural reforms needed to restore fiscal integrity.