Nigeria Tax Overhaul 2026: The N800k "No-Tax" Rule and the Crypto Catch

Nigeria just signed off on the biggest tax overhaul in decades. Most of these changes kick in on January 1, 2026. If you’re a low-earner, a crypto trader, or a business owner, things are about to look very different.

1. The N800k Flex (Tax-Free Season)

This is the viral one. If you earn ₦800,000 or less per year, you are now officially 100% exempt from Personal Income Tax. This is a massive win for the "Street" and small-scale hustle. No more deductions for the little guys!

2. The Crypto Catch

For the crypto millionaires and daily traders, the rules are finally clear. Digital and virtual assets are now officially taxable. If you’re making gains on Binance, ByBit, or Uniswap, the new NRS (Nigeria Revenue Service) wants its 10% cut on chargeable gains.

3. Goodbye FIRS, Hello NRS

The Federal Inland Revenue Service is rebranding and expanding into the Nigeria Revenue Service. It’s not just a name change; they are going 100% digital and will now collect both tax and non-tax revenues. Expect them to see everything.

4. Rent Relief for the Win

Tenant power! You can now deduct your rent from your taxable income—up to ₦500,000 or 20% of your rent (whichever is lower). This helps lower your total tax bill every month.