Nigeria considers a windfall tax on energy operators
The government said it would consider a levy, but had published no tax rate, definition of excess profit or revenue estimate by October 14.
- Publish date: 2026-10-14
- Category: Standards & Policy
- Original source: BusinessDay
- Reading time: 1 min read
BusinessDay reported that the Presidency announced on October 8 it would consider taxes on energy operators taking undue advantage of consumers. Proceeds were proposed for transport support or vouchers for urban minimum-wage earners, but as of October 14 the government had published no tax rate, definition of excess profits or revenue estimate.
Aradel reported H1 2026 pre-tax profit of ₦752.7 billion, while Seplat’s pre-tax profit rose 74.1% to ₦790.4 billion. The article cautioned that these profits do not establish a windfall attributable solely to oil prices; a levy would also need to be reconciled with existing petroleum taxes.