Nigeria’s New Tax Reforms: 25% for Income Over ₦100m
The Nigerian Federal Government is considering imposing a 25% tax on individuals earning above ₦100 million annually as part of its broader tax reform initiatives.
This move aims to increase revenue from high-income earners and reduce dependency on borrowing. The government sees this as a step toward addressing the country’s fiscal challenges while ensuring that wealthier citizens contribute more to the national economy.
This proposal is part of ongoing reforms to bolster tax collection and improve financial sustainability in Nigeria.