New tax law: NRS takes over collection of mineral royalties

Author: Urowayino JeremiahPublished on: April 6, 2026Country: Nigeria

Business & Economy

New tax law: NRS takes over collection of mineral royalties

The Nigeria Revenue Service (NRS) has taken over the collection of mineral royalties effective January 1, 2026, following a meeting between Minister of Solid Minerals Development, Mr. Dele Alake, and NRS chairman, Dr. Zacch Adedeji. This decision stems from new tax laws enacted by President Bola Tinubu on June 26, 2025. The Ministry will continue to provide technical data to support the royalty process, and a sensitization program will be launched to inform sector operators.

Stay informed with NewsBoulevard

Get the latest news summaries delivered to your inbox

Related News

Data protection: NDPC investigates Remita, Sterling Bank over alleged data breach

PoliticsBusiness & EconomyNigeria

John Owen Nwachukwu•11m ago

Data protection: NDPC investigates Remita, Sterling Bank over alleged data breach

The Nigeria Data Protection Commission (NDPC) has initiated an investigation into an alleged data breach involving Remita Payment Services Ltd. and Sterling Bank. A Notice of Investigation has been issued, and relevant parties are providing information to address the incident. The investigation aims to safeguard data subjects by examining the types of personal data involved and the mitigation measures implemented.

Dollar to naira exchange rate stands at N1,340 to N1,430 in Q1 - CPPE forecasts Q2

Business & EconomyNigeria

Ogaga Ariemu•11m ago

Dollar to naira exchange rate stands at N1,340 to N1,430 in Q1 - CPPE forecasts Q2

The Centre for the Promotion of Private Enterprises (CPPE) reported that the naira traded between N1,340 and N1,430 against the dollar in the official market in the first quarter of 2026. Muda Yusuf, CEO of CPPE, attributed this stability to improved external reserves, which reached about $50 billion. Despite this, the cost-of-living crisis remains severe for many Nigerians, driven by high energy costs and persistent structural challenges within the economy.

Lagos govt drags 45 firms, individuals to court over tax defaults

PoliticsBusiness & EconomyNigeria

Sunday Dennis•1h ago

Lagos govt drags 45 firms, individuals to court over tax defaults

The Lagos State Government has initiated legal action against 45 individuals and corporate entities for unpaid taxes totaling several billion naira. Notable defendants include Bi-Courtney Aviation Services, DAAR Communications Plc, and Leaders & Company Limited, with respective tax liabilities of N38.7 million, N22.4 million, and N67.1 million. Attorney-General Lawal Pedro stated that the decision follows non-compliance with previous notices and aims to enhance tax compliance in the state.

Stay Updated with NewsBoulevard

Subscribe to our newsletter for the latest news summaries delivered to your inbox

Learn more