Nigeria Tax Policy

Nigeria’s Oil and Gas Free Zones Authority is advocating for a critical 10-year tax exemption for zone operators to protect over $24 billion in existing investments and maintain long-term investor confidence. This transition period is deemed essential as investors base decisions on multi-decade horizons, and the zones are significant economic drivers, having generated substantial exports and hundreds of thousands of jobs. While the Federal Inland Revenue Service aims to modernize the fiscal framework with a focus on compliance rather than taxing profits, stakeholders unanimously agreeContinue Reading