Nigeria tax reforms
FG unveils tool to track taxes on Incomes
President Bola Ahmed Tinubu has unveiled a new Personal Income Tax Calculator, designed to help Nigerians understand the impact of the recently signed tax reforms on their earnings. The tool, now live on the federal government’s fiscal reforms portal, is part of Tinubu’s administration’s efforts to simplify compliance, ensure fairness, and strengthen transparency in the […]
FG Unveils E-Fiscal Platform to Combat Tax Evasion
The Federal Government has officially launched a nationwide Electronic Fiscal System (EFS), a landmark reform designed to modernise Nigeria’s tax administration, combat evasion, and ensure greater transparency in revenue collection. The initiative, spearheaded by the Federal Inland Revenue Service (FIRS), introduces an electronic invoicing solution, the Merchant-Buyer Model (MBS), which went live on August 1, […]
Debt Burden: Half of Nigeria’s Revenue Goes to Repay Loans, Says Panel
Nigeria’s economic reforms are beginning to yield significant fiscal relief, as the country now spends less than 50 per cent of its revenue on debt servicing, according to the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee (FPTRC), Mr. Taiwo Oyedele. Speaking at PriceWaterhouseCoopers (PwC)’s Executive Summit on Nigeria’s Tax Reform in Lagos […]
FX Reform Drives Nigeria’s Revenue to N12tn – World Bank
Nigeria’s government revenue surged dramatically from N6.8 trillion in 2023 to N12.4 trillion in 2024, representing an impressive 82.4 percent increase, according to the latest Nigeria Development Update published by the World Bank. This sharp rise is attributed primarily to the unification of the country’s foreign exchange (FX) rates, strengthened tax administration, and reforms in […]