Nigeria’s recently enacted Tax Act 2025 could mark a turning point for the country’s non-oil export sector by removing longstanding tax uncertainties and offering stronger incentives for investors, according to commercial and investment lawyer Timothy Shobiye.
In a detailed report, Shobiye, who has over 16 years of experience in commercial legal practice, said the Act simplifies tax rules for exporters, encourages the repatriation of export earnings through the banking system and improves investment returns by exempting qualifying export profits and dividends from income tax.
The reforms come as the Federal Government intensifies efforts to diversify the economy away from crude oil, with agricultural exports such as cocoa, sesame seeds, cashew nuts, soya beans and ginger emerging as increasingly important sources of foreign exchange.
“The Tax Act does more than amend tax provisions; it signals a clear commitment by the Federal Government to promote export-led growth, increase foreign exchange inflows and
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