new tax laws

The Digest: The Nigerian government will introduce a new tax on petrol consumption starting in January 2026. Under the new law, Nigerians will pay a 5% tax, which amounts to N500 on every N10,000 they spend on petrol. The levy is designed to discourage fossil fuel use and push citizens toward...

The Digest: The Nigerian government has implemented a stringent requirement for banks and financial institutions. From now on, any individual with transactions exceeding N25 million monthly, or firms with over N100 million, must be reported to the tax authorities. These measures aim to tighten...