Sticker Shock: MAN Says Proposed Tax Stamps Will Ding Wallets
The Federal Government’s plan to slap tax stamps on excisable goods has run into a buzz-saw of manufacturer resistance. The Manufacturers Association of Nigeria (MAN) argues the measure would quietly raise prices, undercut recent tax reliefs and, in the end, leave shoppers footing the bill, Punch Newspapers reports.
“Introducing a tax stamp system amounts to giving with one hand and taking back with the other,” MAN’s Director-General Segun Ajayi-Kadir warned in a Monday statement. He contends the stamps would spike compliance costs, especially for small and medium-sized producers, who would simply pass the pain down the supply chain.
The association also fears the plan clashes with the freshly minted Nigeria Tax Act 2025, which already carved out incentives to make local industry more competitive. Ajayi-Kadir pointed to Ghana and Uganda, saying similar schemes there delivered “limited revenue gains” while bogging factories down with paperwork.
Why it matters: Tax pros note the timing couldn’t be trickier. Inflation is still biting, and Nigeria is gearing up for the Act’s wider reforms in January 2026. “Paper stamps are prone to falsification, and digital stamps can cut productivity by up to 40 percent,” MAN argued, raising the specter that consumers may pivot to cheaper, illicit products.
AROUND THE TAX WORLD
• FIRS Smashes Targets Early. The taxman hauled in ₦20.62 trillion between January and August, up 40.8 percent year-on-year, topping its full-year growth goal, according to Western Post.
• Bloomberg Sees Over-Achievement Ahead. Separate data show collections last month nearly met the 2025 annual mark, and FIRS chief Zacch Adedeji told Bloomberg he now expects to beat the target before December.
• Informal Sector Steps Into the Spotlight. From ride-hailing drivers to market traders, the new Tax Act demands a Tax Identification Number for virtually every money-earner, BusinessDay explains.
• No, Petrol Isn’t Getting a 5% Levy,Yet. Viral claims of a January 2026 fuel surcharge are “misleading,” Nigerian authorities told AFP Fact Check. The levy exists in the Act, but no start date is set.
• Borrowing Still on the Table. Clarifying critics, Adedeji said debt “is part of every viable nation’s ecosystem,” while confirming PIT and CIT tweaks land in January, The Guardian Nigeria notes.
BY THE NUMBERS
Prime Number: ₦20.62 trillion,the tax revenue FIRS collected in the first eight months of 2025, already 81 percent of its ₦25.2 trillion full-year goal (Western Post).
LOOKING AHEAD
All eyes now turn to the draft regulations for tax stamps and the rollout guidelines for the 2025 Act. Stakeholders have until year-end to sway policy before the new regime goes live on 1 January 2026. For additional background on these reforms, readers can explore the broader framework detailed in Nigerian Tax Laws 2025 - Comprehensive Tax Reform Legislation.
Prepared by MyTax - mytax.com.ng