Welcome to the September 2026 edition of the Segun Awosanya & Co. (SAC) Newsletter.
Eight months after the Nigeria Tax Act 2025 commenced, the government’s side of the ledger looks strong: the Nigeria Revenue Service collected ₦27.1 trillion between January and July 2026. The more useful question for a business is different: has the burden of running a compliant company risen in step — and if not, what has actually changed underneath it?
This edition is a business-readiness review of Nigeria’s 2025 tax reform laws, written for finance leaders and executive management teams.
IN THIS EDITION · EIGHT MONTHS IN
₦27 Trillion in Eight Months:
Nigeria's Tax Reform Is Working for Government — What About for Business?
Revenue collection and taxpayer burden are not moving in lockstep. What is better evidenced is that the nature of compliance itself has changed: more data-driven, more document-dependent, and less forgiving of the process gaps that used to slip through unnoticed. That shift — not the ₦27.1tn figure — is what should be occupying management’s attention now.
THE NUMBERS AT A GLANCE
₦27.1tn
NRS collections, Jan–Jul 2026
95.76%
of NRS FY2025 total, matched in 7 months
66.57%
of the FY2026 target, met by July
70.8%
of businesses cite high/multiple taxation as their top constraint
Inside This Edition
- 01 · The Headline Numbers, in Brief — what government is reporting, and what the data doesn't yet show
- 02 · The Business Experience — where relief is real (small-company exemptions, the 4% Development Levy, expanded VAT zero-rating) and where compliance is getting harder
- 03 · The Operational Shift — why tax readiness is becoming everyone's job, not just finance's
- 04 · What SAC Is Seeing — anonymised patterns from recent readiness and audit-support engagements
- 05 · A Readiness Test for Your Leadership Team — five questions worth putting to management this quarter
- 06 · Looking Ahead — e-invoicing enforcement runs Jan–Mar 2027 for ₦1bn–₦5bn businesses; your next deadline may be closer than it looks
“The question is no longer whether the tax regime has changed. It is whether your business has changed with it.”
Read the full edition
The complete 11-page September 2026 newsletter, including the fully cited legal analysis, survey data, the five-question readiness test and the e-invoicing rollout timeline.
