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Nigeria fiscal reforms push tax surge & e‑invoicing deadline

Updated 1 time since CLSTR started tracking revisions of this situation.

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2026-07-25 18:40 UTC → 2026-07-27 01:06 UTC · added removed

Nigeria fiscal reforms spur push tax surge, surge & e‑invoicing deadline

Fiscal reforms have continued to lift boost Nigeria’s tax receipts, revenue, with non‑oil taxes now accounting for contributing about 76 % of revenue receipts and VAT collections rising climbing sharply. The Senate Finance Committee deepened its audit of import‑duty exemption certificates, while the Economic Advisory Committee, led revised VAT sharing formula shifted roughly N219.7 billion to sub‑national coffers, lifting state allocations by Sterling Bank MD Abubakar Suleiman, kept steering 23.5 % in the reform agenda that targets 7 first half of 2026 while federal revenue rose 51 % growth and a $1 trillion economy by 2030. year‑on‑year. The Nigeria Revenue Service moved from a voluntary to a mandatory e‑invoicing regime. A public notice signed by NRS Chairman Dr. Zacch Adedeji on 19 July ordered all required large taxpayers (annual turnover ≥ ₦5 billion) to be fully integrated into join the Merchant Buyer Solution and Electronic Fiscal System by 31 July 2026, with enforcement actions for non‑compliance. More than Over 1,000 eligible firms had already completed onboarding by in the first quarter of 2026, and the agency is now monitoring invoice validation, testing and transmission of invoices. State‑level gains accelerated under a new VAT sharing formula that reduced the federal share to 10 % and lifted states’ share to 55 %, moving roughly N219.72 billion to sub‑national coffers. In the first half of 2026, states received N2.37 trillion in VAT allocations, a 23.5 % increase over the same period in 2025, while federal tax revenue rose to about N21.6 trillion, up 51 % year‑on‑year. transmission. In July 2026, late July, Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele inaugurated an inter‑ministerial committee to draft tasked with drafting a 2026 VAT Modification Order. Chaired by Permanent Secretary Raymond Omachi and drawing members from the Ministry of Finance, NRS, Customs Service and other agencies, Omachi, the six‑week task‑force mandate will align the new order with the Tax Reform Acts that took effect on 1 January 2026, reviewing administration, clarifying exemptions and zero‑rated supplies, and aiming to Acts, clarify exemptions, simplify compliance while supporting and support industrialisation, investment and the energy transition.

Versions

  1. 2026-07-27 01:06 UTC Nigeria fiscal reforms push tax surge & e‑invoicing deadline
  2. 2026-07-25 18:40 UTC Nigeria fiscal reforms spur tax surge, e‑invoicing deadline

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