The Federal Government has introduced sweeping changes to Nigeria’s tax framework under the newly enacted Nigerian Tax Act (NTA), set to take effect in January 2026. Among the most impactful reforms is the expansion of the Value Added Tax (VAT) exemption list — a move aimed at reducing the cost of essential goods and supporting […]

Under sweeping reforms introduced in the Nigerian Tax Act (NTA), which takes effect in January 2026, the Federal Government has decided to retain the corporate income tax (CIT) rate at 30 percent for all companies, except small businesses. The Act maintains a 0 percent CIT rate for small companies—defined as those with annual turnover below