Nigerian Businesses to Claim N3.4 Trillion Input VAT Credits Under New Tax Laws, Says Oyedele

• Nigerian businesses will be able to claim about N3.4 trillion in input VAT credits under new tax laws starting January 2026.
• The reforms are described as the most significant economic development since the pension reforms of the early 2000s.
• The new law allows companies to claim input VAT on assets, overheads, services, and inventory, reducing their tax burden and eliminating multiple taxation.
• The reforms also address corporate taxation, capital gains, and compliance, aiming to incentivize investment, encourage formalization, and strengthen fiscal stability.
• The changes are intended to reset the economy, build trust, and ensure fairness by reducing the tax burden on businesses.

Source: thisdaylive.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

---

---