Nigeria targets $75 million in crypto stamp duty by 2027

Nigeria is expanding its revenue collection through new regulations targeting the cryptocurrency market. According to data from Chainalysis, $38.1 billion in funds entered the Nigerian crypto market between July 2025 and June 2026. The government aims to leverage this high volume of activity, with projections suggesting crypto-related stamp duty could contribute significantly to a total national stamp duty forecast of ₦579.82 billion ($425.54 million) by 2027.

Unlike some jurisdictions that only tax realized gains, Nigeria is implementing a broader approach. New regulations from the Nigeria Revenue Service include a 1.5% stamp duty on converting fiat currency to tokens and vice versa. Additionally, certain virtual assets face a 1% tax withheld at source on gross sale proceeds, while services provided by virtual asset service providers (VASPs) are subject to a 7.5% value-added tax (VAT).

This regulatory shift comes amid Nigeria ranking third globally for grassroots cryptocurrency adoption and first in domestic peer-to-peer activity. The adoption is largely driven by the use of stablecoins, such as USDT and USDC, which citizens use to hedge against naira depreciation and facilitate international payments, remittances, and business settlements.