The Nigeria Revenue Service (NRS) has dismissed reports claiming that the Federal Government will introduce a new vehicle tax effective July 1, 2026.

President Bola Tinubu, on Tuesday in Abuja, said colonial-era tax laws impoverished Nigerians through fragmentation, multiplicity, and inconsistencies, and assured that the new reforms will deliver greater prosperity and inclusivity. 

President Bola Tinubu says his administration’s economic reforms are designed to confront structural weaknesses, restore fairness, and rebuild confidence in public institutions.  

The Nigeria Revenue Service (NRS) has begun the phased rollout of its electronic invoicing and fiscal monitoring system, designed to strengthen tax administration, improve transparency, and encourage voluntary compliance.

Nigeria’s Capital Gains Tax (CGT) collections hit a record ₦522 billion in 2025, far exceeding expectations and marking an 869% performance against target, according to figures presented by the Nigeria Revenue Service (NRS).

Analysis: From Crude to Complexity: Why Nigeria’s Export Story Must Change - NRS Boss By Arabinrin Aderonke   For decades, Nigeria’s economic story has followed a familiar script: extract raw materials, export them largely unprocessed, earn foreign exchange, repeat. It is a model that once delivered revenues...