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ARTICLE · 13 MAY 2025

Corporate Tax 2025 - Trends and Developments

Udo Udoma & Belo-Osagie
Udo Udoma & Belo-Osagie
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Udo Udoma & Belo-Osagie

Udo Udoma & Belo-Osagie

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The Nigerian fiscal landscape has witnessed interesting trends and developments in recent times. One key development is the proposed overhaul of Nigeria's fiscal regime.

NigeriaTax
Lolade Ososami
Lolade Ososami
Joseph Eimunjeze
Joseph Eimunjeze
Kelechi Ibe
Kelechi Ibe
Itoro Etim
Itoro Etim
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Introduction

The Nigerian fiscal landscape has witnessed interesting trends and developments in recent times. One key development is the proposed overhaul of Nigeria's fiscal regime.

In November 2024, President Bola Tinubu, GCFR, presented the federal government's budget proposals themed "Renewed Hope" at the joint sessions of the National Assembly, Nigeria's federal legislative arm, in Abuja. The proposed 2025 annual National Budget is pegged at NGN49.74 trillion, representing a 41.9% increase from 2024 with a fiscal deficit of NGN13.39 trillion, signalling the intention of the federal government of Nigeria (FGN) to increase tax revenue to achieve its ambitious spending plans aimed at promoting economic development, maintaining macroeconomic stability and incentivising an investment-friendly economy.

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