Nigeria: Income Tax

Nigeria’s tax landscape has undergone a fundamental shift with the enactment of the Nigeria Tax Act, 2025 (“NTA”), which took effect on 1st January, 2026. For the first time, the country’s core federal tax laws have been consolidated into a single and unified framework. For dealmakers, this is more than a legislative clean-up; it also changes how transactions are structured, priced, and executed.

Nigeria’s fiscal landscape has undergone a significant transformation with the enactment of the Nigeria Tax Act 2025, which raised the Capital Gains Tax (CGT) rate from 10% to 30% for corporate entities.

The taxation of capital gains has historically played a modest but strategically important role within Nigeria's fiscal architecture. Under the pre-existing regime, the Capital Gains Tax (CGT) framework was governed primarily by the Capital Gains Tax Act (CGTA), which imposed tax on gains arising from the disposal of chargeable assets

Recently, the Presidential Fiscal Policy and Tax Reforms Committee, during conversations about the recent tax reforms, confirmed that Nigeria receives significant financial information on Nigerian residents ...

Nigeria is home to several small business entities run by individuals or group of business partners. Statistics show that businesses on this scale of operations are more than large scale businesses and multinational enterprises operating in the country.

The Nigeria Tax Act, 2025 (the "NTA") and the Nigeria Tax Administration Act, 2025 (the "NTAA") introduced a revised tax administration and enforcement framework applicable across Nigeria, including Lagos State.

On 1 January 2026, the Nigeria Tax Act (NTA) and the Nigeria Tax Administration Act (NTAA) became effective.

The concerns expressed by the general public regarding the Memorandum of Understanding between Nigeria and France are well-founded, particularly in light of the legal obligations imposed on the Nigeria...

The Nigeria Tax Act, 2025 ("the Act") was signed into law on June 26, 2025, and is set to take effect from January 1, 2026. This new legislation marks a major reform of Nigeria's tax system.