11/02/2026
“PRINTING BUSINESSES MUST PREPARE FOR STRICTER REPORTING AND COMPLIANCE OBLIGATIONS.”
For a while now, The Nigeria Tax Administration Act 2025, one of the outcomes of Mr. Taiwo Oyedele-led Presidential Committee on Fiscal Policy and Tax Reforms, charged with the responsibility of driving reforms with respect to fiscal governance, tax transformation, and growth facilitation, has created a lot of buzz in the polity, and for good reason — the reform is indeed, revolutionary. It’s no business as usual, as the revolution is over the entire Nigerian tax architecture ostensibly for a broad-based economic transformation.
To help print & allied businesses successfully navigate the new Tax Regime, WHERE To Print Magazine Editorial Board narrows down its search for an experienced professional in accounting, auditing, financial analysis, risk management, and of course taxation, with equally impeccable industry experience to Mr. Godwin Ogilo, the Managing Director/CEO of Heidelberg Nigeria Limited, the subsidiary of the global print solutions provider, Heidelberger Druckmaschinen AG. As usual, His insights are both fascinating and educational; hence, highly recommended.
Therefore, in this edition’s SPECIAL FEATURE INTERVIEW, which doubles as the COVER STORY, the Chartered Accountant cm Finance Expert breaks down Nigeria’s new Tax Law and what it truly means for print & allied business owners, entrepreneurs, and managers. Gleaning from his invaluable knowledge and wealth of experience in the industry, and having overseen several multi-billion Naira deals over the past 2 decades in the sector, Mr. Ogilo succinctly explains major changes introduced by the new Tax Act, how players can avoid compliance penalties on Company Income Tax (CIT), Pay-As-You-Earn (PAYE), Pensions, Value Added Tax (VAT), Withholding Tax (WHT) and other statutory obligations. Not only that, he enlightens on e-invoicing fiscalisation, how to use technology to standardise/ monitor transactions for efficient tax purposes, the enforcement powers of tax authorities, and the emerging trends and risks businesses, especially players in Nigeria’s Printing Industry, need to be aware of in 2026 and beyond. Read the excerpt of the full interview below:
------------------------------------------------------
“Nigerian printing firms that embrace digital printing, packaging, and eco-friendly practices will thrive despite economic and regulatory challenges.”
HOW WILL YOU DESCRIBE THE 2025 BUSINESS YEAR?
The 2025 business year was marked by cautious optimism and resilience, with the economy showing signs of stabilization amid the Government's various reforms implementation. While persistent challenges such as inflation, unemployment, and infrastructure deficits remain, new and promising trends are emerging across sectors. These trends are redefining how Nigerians do business, consume products, and engage with both local and global markets. Overall, 2025 was a turning point for Nigerian enterprises, with businesses adapting to inflation, policy shifts, digital disruption, and changing consumer behaviour. Also, 2025 was better than the previous year, thanks to the availability of foreign exchange (FOREX) and a more stable exchange rate. We hope the business environment will improve significantly in the months ahead, especially as we approach the election year.
AS A BUSINESS, WHAT ARE YOUR THREE ACCOMPLISHMENTS LAST YEAR THAT YOU'RE MOST PROUD OF AND GRATEFUL FOR?
Despite the challenges of the year 2025, we were able to meet the important needs of our customers and have been able to build up so much trust in the industry. Another accomplishment is that we were able to keep our Team together. For us at Heidelberg, retaining employees is crucial for organizational success as it enhances productivity, fosters a positive company culture, and reduces costs associated with staff turnover. Also, we forged strategic partnerships that opened new opportunities, expanded our reach, and strengthened our position in the market. As a business, we are proud of these accomplishments from last year.
WHAT WERE THE LOWS AND THE HIGHS OF LAST YEAR, AND HOW DID YOU OVERCOME THE CHALLENGES?
Like everything in life, there will always be upsides and downsides. What the future holds out is the need for every print business to make some strategic decisions on how to minimize the downsides and take advantage of the upsides. The upsides are the growth-oriented segments of the industry, e.g., packaging, digital printing, etc. The critical factors for success will be the ability to deploy, implement, and optimize the use of technology, integration, and digital transformation of the printing business. Despite the huge challenges we are faced with, we were able to scale through by putting in place the following strategies that helped us to stay afloat:
1. Quality: We understand that the quality of output helps build trust and confidence with the clients, which makes them to always come back. Our quality standard is largely dependent on strategic innovation. That is why we constantly embrace new ways of doing things to achieving top notch customer service delivery.
2. Customer Service: More emphasis was placed on great customer service regarding their needs. This helps us to develop a strong relationship with our clients.
3. Brand Protection: As an established brand, we have to protect ourselves by doing business with integrity to ensure customer satisfaction.
4. Training: We also adopt adequate and continuous education for both our technical and managerial manpower with modern methods of handling new challenges to further help our clients.
“The Printing Industry in 2026 is no longer about ink on paper — it’s about smart, sustainable, and customer-driven solutions.”
WHAT LESSONS DID YOU LEARN THAT OTHERS CAN ADOPT?
Last year's lessons that might help others are:
Adaptation - Adapt quickly to changes and pivot when needed.
Teamwork - Leverage each other's strengths.
Customer focus - Prioritize customers’ needs to drive growth.
Resilience - Tough times pass, but lessons stay.
One that stands out - "Progress over Perfection".
I must mention here that some of the most important business skills everyone should learn include data analysis skills, identifying trends, and making data-driven business decisions.
WHAT CAN YOU SAY ABOUT THE NEW TAX LAW?
The new Tax Law consolidates and closes gaps within the existing tax system. The reforms will harmonize tax administration across all tiers of Government thereby enhancing ease of doing business. The Tax Reform Acts comprise four distinct laws: the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service Establishment Act, and the Joint Revenue Board Establishment Act. Though the new tax law will ensure easier compliance and higher tax obligations for large corporations, it is expected to boost collections due to a broader tax base.
WHAT ARE THE SALIENT ISSUES NIGERIAN BUSINESSES, ESPECIALLY PRINT & ALLIED PRACTITIONERS, SHOULD NOTE TO AVOID TAX PENALTIES?
To avoid penalties under Nigeria’s new tax regime, taxpayers must prioritize timely registration, accurate filing of returns, proper record keeping, and full cooperation with tax authorities. In addition, companies with annual revenue exceeding NGN 5 billion fall under the first phase of VAT fiscalisation (e-invoicing) by the Nigeria Revenue Service (NRS). Such companies are required to implement the NRS e-invoicing system within their operations.
“To be eligible for tax credits or deductions, you will typically need to meet specific conditions set by the Tax Authority.”
ARE THERE ANY CHANGES IN THE NEW TAX LAW THAT WILL AFFECT PRINT & ALLIED PRACTITIONERS?
Yes — Nigeria’s new Tax Reform Act (2025) introduces significant changes that will directly impact printing and allied practitioners, particularly in the areas of VAT, Corporate Income Tax, and compliance obligations. The new tax laws, specifically the Nigeria Tax Act (NTA) 2025, may impact print and allied practitioners in several ways, such as:
- Input VAT Recovery: The Act expands input VAT recovery to cover all purchases, including services and fixed assets, provided they directly relate to VATable supplies. This change benefits service-oriented industries, allowing them to reclaim VAT on overheads and capital assets, thereby improving cash flow and reducing operational costs.
- Development Levy: A 4% Development Levy on assessable profits replaces several sectoral levies, simplifying administration but increasing effective costs for most companies.
- Capital Gains Tax (CGT): The flat rate of 10% is replaced with a potentially progressive rate for individuals based on their earnings, with the rate going as high as 30% for large companies.
- Deductions and Capital Allowances: Expenses linked to unremitted VAT or import duties will be disallowed, and the initial allowance has been abolished, while annual rates on plant and equipment are reduced from 25% to 20%.
- Elimination of minimum tax for companies without profit, provided certain conditions are met.
In all, the new law consolidates fragmented tax rules and tightens enforcement, meaning printing businesses must prepare for stricter reporting and compliance obligations. To better understand how these changes affect your specific situation, consider consulting a tax professional or exploring resources on the Nigeria Tax Act 2025.
OBSERVERS THINK THAT THE NEW TAX SYSTEM WITH TAXES SUCH AS VAT, PAYEE, PIT, OR CIT, ETC., WILL EAT DEEPLY INTO THEIR INCOME/ REVENUE. HOW CAN PRACTITIONERS REDUCE THEIR OVERALL TAX BILL/ TAX LIABILITY?
The new Tax Laws do not increase tax rates. Instead, they…
…watch out for the exclusive full interview in the upcoming 100th edition of WHERE To Print Magazine out soon🤝🙏! Best regards from ALL of us @ WHERE To Print Magazine – www.wheretoprintmagazine.com
