Startups in Nigeria have grown exponentially.

On Friday, 27 September 2024, the Minister of Finance and National Planning, Dr Situmbeko Musokotwane, presented to the nation a ZMW217.1 billion National Budget for the 2025 fiscal year.

There was no major segregation between small, medium, and large companies for tax purposes in Nigeria, prior to the introduction of the Finance Act (FA), 2019.

Since 28 February 2026 when U.S. and Israeli strikes on Iran triggered the closure of the Strait of Hormuz, African economies have absorbed a multi-dimensional economic shock from the disruption of energy supply, food systems, export corridors and financial conditions.

The fog of uncertainty is gathering momentum over the delicate, yet controversial topic of Pioneer Status Incentive (PSI ) and "mature industries".

The decision of the Federal High Court ("the Court") in Shell Petroleum Development Company of Nigeria Limited v. Federal Inland Revenue Service (FIRS)1 has brought renewed attention to fundamental principles of Nigerian tax law, particularly regarding the proration of tax rates within an accounting year and the retrospective application of tax legislation.

For so long, multinational corporations (MNCs) have been criticized globally for employing several tax avoidance tactics that exploit the gaps and mismatches in tax rules.

Nigeria's foreign exchange (FX) landscape continues to pose a challenge for businesses operating in the country.

The VAT (Modification) Order, 2021 was signed on 30 July 2021 by HMoFBNP, Mrs. Zainab Shamsuna Ahmed, pursuant to her powers under Section 38 of the VAT Act, Cap. V1, Laws of the Federation of Nigeria, 2004 (as amended).

Nigeria, Africa's largest nation by population and richly endowed with natural resources, remains significantly constrained in its energy sector which hampers growth and reduces the quality of life

In recent years, content creation has emerged as one of Nigeria's most dynamic and culturally significant industries.

In December 2019, just as the country was seeking to take a break from the many unpleasant news headlines and enjoy the upcoming Christmas season, a shocking topic caught the nation's attention...

Over the past decade, the Nigerian mining sector (the Sector) contributed less than 1% to the Nation's Gross Domestic Product (GDP), year-on-year.

The digital economy broadly encompasses economic activities that rely on Internet-protocol (IP) enabled networks and information technologies for creation...

Technological advancements, particularly the rise of the internet, has transformed how we work, learn, interact financially and store wealth. In emerging markets like Nigeria...

One of the objectives of the new tax laws is to ‘optimize fiscal revenue’. It is expected that the implementation of the laws will double tax-to-GDP ratio in the short run. This is by widening the tax net while providing incentives to already-compliant taxpayers to pay more tax. The tax laws also increase the power of the tax authorities to have access to hitherto private banking records to discourage tax evasion.

On 24 June 2019, the Nigeria Police Trust Fund (Establishment) Act (NPTF Act or "the Act") was enacted into law, with the overarching goal of improving...

Across the globe, taxation remains a fundamental instrument for governments to generate revenue, fulfill their obligations, and provide essential services to citizens.

Restructuring is a common strategic tool deployed by businesses globally to improve operational efficiency, enhance competitiveness, or respond to financial, market, and regulatory developments.

On 28 May 2023, His Excellency, former President Muhammadu Buhari, GCFR, signed the Finance Bill,2023 into law as Finance Act, 2023.