Nigeria losing up to ₦20trn annually to revenue

Nigeria is estimated to lose up to ₦20 trillion (about $52 billion) each year in revenue due to widespread tax evasion, corruption, oil‑sector leakages, under‑reporting of customs duties, and weak enforcement of fiscal laws. The losses stem from informal economic activity, fraudulent invoicing, illegal oil bunkering, and inadequate collection mechanisms across federal, state and local governments. Efforts to curb the gap focus on tax‑base expansion, digitalisation of payments, stronger anti‑corruption measures and reforms in the petroleum revenue management system. Views Nigeria