The Nigeria Export Processing Zones Authority (NEPZA) has urged the Federal Government to grant a 10-year tax relief for operators within Special Economic Zones, warning that failure to do so could weaken investor confidence and trigger disruptions across the free-zone ecosystem. The call comes as implementation of a new tax act approaches, with NEPZA framing the relief as a competitiveness tool to protect Nigeria’s FDI prospects amid rising global investment scrutiny. (Source: The Punch, Dec 6, 2025.)
Tag: Tax Reliefs
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FG’s electronic transfer levy revenue doubles to N360bn
Federal revenue from the electronic money transfer levy hit about N360.29 billion between January and October 2025, more than doubling the comparable 2024 figure, according to an internal FIRS document cited by Punch. The year-on-year jump suggests increased taxable transfer volumes and/or stronger compliance, with the report noting monthly gains across the period. The data adds another angle to ongoing debates about the balance between broadening non-oil revenue and the public sensitivity around transaction-related taxes. Source: Punch, December 7, 2025.
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Governors resolve to retain Tax reliefs in states till 2021
The Nigeria Governors’ Forum (NGF) says it will retain till next year the tax reliefs for individuals and businesses in states, which was implemented to mitigate the impact of the coronavirus pandemic.
The NGF made this known in a resolution that was passed at its 16th teleconference meeting of the governors held on Wednesday, August 2, 2020.
In a statement issued at the end of the meeting and signed by the NGF Chairman, Governor Kayode Fayemi of Ekiti State, “all state governments, through their internal revenue services, will ensure seamless implementation of the tax relief programmes for businesses and other taxpayers.
“These programmes which were released in some states since March 2020 were designed to reduce the financial burden of taxpayers in the country up till 2021 in some cases.”
Also, for the purpose of addressing concerns raised by states on the reception of new inmates amidst measures being taken to curtail the spread of COVID-19 at the correctional facilities in the country, the NGF resolved to work, through its sub-committee interfacing with the Presidential Task Force (PTF) on COVID-19.
“The NGF resolved to provide leadership to the COVID-19 response in their respective states by ramping up risk communication activities and community testing.”
In its desire to interface with the Ministry of Petroleum Resources on the actualization of the National Gas Expansion Programme (NGEP), the forum mandated state governments to nominate focal persons for the implementation of the process.
However, leadership of the forum emphasized the need to be vigilant and ensure that the structures put in place for routine polio immunization are not jeopardised by the COVID-19 pandemic in the light of the Rotary International’s recognition of the forum’s role in ending the polio infection in the country.
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COVID-19: Governor Abiodun grants Ogun residents tax reliefs
As part of efforts to cushion economic downturn occasioned by the effect of COVID-19, Ogun State Governor, Prince Dapo Abiodun has granted various tax reliefs to residents of the state.
In a statement on Saturday, the Governor said he has directed the Ogun State Internal Revenue Service (OIRS) to immediately effect these tax reliefs to reduce the COVID-19 induced burden on taxpayers in the state.
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According to Governor Abiodun, the types of taxes that taxpayers will enjoy reliefs include: “6-month deadline extension for filling of 2019 income tax returns by the self employed/informal sector from March 31, 2020 to September 30.
“8-month extension of filling of 2019 annual PAYE returns by PAYE operators/tax agents from January 31, 2020 to September 30, as well as complete waiver of interest and penalty for late filling for the extension period.
“Complete waiver of interest and penalty for late remittance of monthly PAYE for the extension period.
“Same waiver for late payment of Direct Assessment/Personal Income Tax by the self employed from January 1, 2020 to December 31.
“Waiver of weekly tax by operators and promoters of pool and betting businesses from April 1, 2020 to June 30”, the categories stated in parts.
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Prince Abiodun also stated that: “The Tax Audit Reconciliation Committee (TARC) will also henceforth adopt video conferencing as the default mode for their meetings to continue ensuring ease of doing business while maintaining physical distancing.”
He therefore urged taxpayers in Ogun State to make the best use of the reliefs as they make necessary payments to the State’s designated accounts in approved banks.