Nigeria could collect $75 million from crypto stamp duty in 2027
Nigeria’s crypto market received $38.1 billion in value between July 2025 and June 2026, according to blockchain analytics firm Chainalysis, highlighting the scale of a market the government hopes to tap to expand its tax base in 2027.
Nigeria’s crypto market generated $38.1 billion in value between July 2025 and June 2026, according to Chainalysis. The Nigerian government is looking to expand its tax base by introducing a blanket approach to taxing crypto, including a 1.5% stamp duty on fiat-to-token and token-to-fiat conversions, a 1% withholding tax on gross disposal proceeds for certain virtual assets, and a 7.5% value-added tax (VAT) on taxable services provided by virtual asset service providers (VASPs).
The stamp duty is particularly significant as it can apply at both ends of a crypto transaction, allowing the government to collect revenue when users buy and sell, regardless of profit. Projections show that stamp duty collections are expected to rise from ₦456.07 billion ($334.72 million) in 2026 to ₦579.82 billion ($425.54 million) in 2027, covering stamp duty across the economy.
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