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 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 cum 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 faced, we were able to scale through by putting in place the following strategies that helped us to stay afloat:
- 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.
- Customer Service: More emphasis was placed on great customer service regarding their needs. This helps us to develop a strong relationship with our clients.
- Brand Protection: As an established brand, we have to protect ourselves by doing business with integrity to ensure customer satisfaction.
- Training: We also adopted 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 expand the definition of basic foods and reclassify them from exempt goods to zero-rated goods. This change will reduce the prices of goods and allow manufacturers to claim input VAT against output VAT, an option that was not available under the old tax laws. The reforms also eliminate the provision for minimum tax on loss-making companies, provided certain conditions are met, among other measures. While these changes ease consumer prices and improve VAT recovery, they will also reduce the overall cost of doing business in Nigeria due to stricter compliance requirements. To reduce tax liability, Printers can explore these strategies:
– VAT planning: Claim input VAT on business expenses and ensure compliance with VAT regulations.
– Optimize deductions: Maximize allowable deductions, like capital allowances and charitable donations.
– Tax-efficient structuring: Consider restructuring business operations to minimize tax exposure.
– PIT optimization: Leverage personal income tax reliefs and deductions.
– CIT planning: Ensure accurate profit computation and utilize tax incentives.
I will equally advise players to consult a tax professional in order to navigate these complexities and ensure compliance.
HOW CAN ONE BE ELIGIBLE FOR ANY TAX CREDITS OR DEDUCTIONS?
Eligibility for tax credits and deductions under Nigeria’s new Tax Act (effective January 1, 2026) depends on proper registration, accurate record-keeping, and engaging in qualifying activities such as business expenses, capital investments, pension contributions, and sector-specific incentives. To be eligible for tax credits or deductions, you will typically need to meet specific conditions set by the Tax Authority. Here are some general tips:
– Keep accurate records: Track expenses, donations, and investments that qualify for deductions or credits.
– Check eligibility criteria: Review tax laws or consult a tax professional to see what applies to you (e.g., charitable donations, capital allowances, or personal reliefs).
– File correctly: Ensure your tax returns are accurate and submitted on time to claim credits or deductions.
Practitioners who document and claim allowable expenses correctly can significantly reduce their tax liability.
WE UNDERSTAND THE RETENTION GUIDELINES FOR IMPORTANT DOCUMENTATION. HOW LONG SHOULD BUSINESSES KEEP THEIR TAX RECORDS AND SUPPORTING DOCUMENTS?
Under Nigeria’s new tax framework, businesses are required to keep tax records and supporting documents for a minimum of six (6) years from the end of the financial year in which the transactions occurred. This retention period aligns with global best practices and ensures that records are available for audits, investigations, or disputes.
Examples of documents to keep are:
– Financial statements
– Tax returns
– Invoices and receipts
– Bank statements
– Payroll records
“Printers should invest in robust estimation software to do their estimations and also adopt modern accounting and information management systems to improve efficiency and profitability.”
WHAT COMMON BUSINESS EXPENSES CAN BUSINESSES DEDUCT, FOR INSTANCE, OFFICIAL TRAVEL, MEALS, SUPPLIES, AND EQUIPMENT FROM TAXES?
Nigeria’s new Tax Act (effective January 2026) streamlines the criteria for expense deductibility under the “Wholly and Exclusively” (WE) principle for business purposes. As a result, businesses may deduct expenses incurred wholly and exclusively in generating income, provided such expenses are not capital in nature. These deductions reduce taxable profits and, consequently, lower overall tax liability. Common Deductible Business Expenses are:
– Official travel: Transport, accommodation, and related costs for business trips.
– Meals: Reasonable expenses for business-related meals. You are enjoined to keep receipts for references.
– Supplies: Office supplies, materials, and consumables used in business operations.
– Equipment: Capital allowances on assets like machinery, vehicles, or computers (not full deduction upfront, but depreciated over time).
Other deductible expenses might include:
– Rent and utilities for business premises
– Staff salaries and benefits
– Marketing and advertising costs
– Professional fees (e.g., legal, audit)
HOW CAN THEY HANDLE PAYROLL TAXES OR THE TAX IMPLICATIONS OF HIRING INDEPENDENT CONTRACTORS VS. EMPLOYEES TO ENSURE COMPLIANCE?
To ensure compliance, businesses must correctly classify workers as employees or independent contractors. Employees are subject to PAYE (Pay-As-You-Earn) payroll taxes, pensions, and statutory contributions, while contractors fall under Withholding Tax (WHT) obligations. Misclassification can lead to penalties and audit risks. Not only that, handling payroll taxes and contractor vs. employee classification can be tricky. Here are some tips:
– Know the difference: Ensure you correctly classify workers as employees or independent contractors based on control, independence, and other factors.
– Payroll taxes: Deduct PAYE (Pay As You Earn) for employees, remit to tax authorities, and file returns.
– Contractors: Typically handle their own taxes, but ensure you file necessary reports (e.g., Withholding Tax).
– Compliance checks: Regularly review classifications and tax compliance to avoid penalties. You should consider consulting a tax or HR expert to ensure you are on track.
ARE THERE ANY INDUSTRY-SPECIFIC TAX ISSUES OR CREDITS THEY SHOULD BE AWARE OF IN OUR INDUSTRY?
Yes — under Nigeria’s new Tax Act (2025), printing and allied practitioners fall within the broader manufacturing and publishing sector, which means they can access certain tax incentives (like capital allowances, export credits, and R&D deductions) but also face stricter VAT and compliance obligations. The law consolidates fragmented rules, so printing firms must pay closer attention to VAT remittance, allowable deductions, and sector-linked incentives. Companies into manufacturing of machinery for paper and paperboard production, as well as the manufacture of paper, can apply for tax incentives under Economic Development Tax Incentives (EDTI). Do consult a tax advisor familiar with our industry for tailored guidance.
WHAT OLD BUSINESS STRATEGY(IES) DO YOU THINK PRINT & ALLIED PRACTITIONERS SHOULD DO DIFFERENTLY NOW TO TAKE THEIR BUSINESSES TO THE NEXT HIGHER LEVEL?
There are lots of old strategies that require changes in how things should be done in the present-day business environment. One of the areas print practitioners should look into is the estimation process. Most Printers do jobs and make no profit without even knowing due to wrong estimation. Printers should invest in robust estimation software to do their estimations and also adopt modern accounting and information management systems to improve efficiency and profitability. Other strategies print & allied practitioners might need to look at are:
– Digital transformation: Embracing digital printing, online ordering, and e-commerce to stay competitive.
– Diversification: Expanding services beyond traditional print into packaging, marketing solutions, or digital media.
– Value-added services: Offering design, content creation, or logistics to increase client stickiness.
– Sustainability focus: Highlighting eco-friendly practices to attract eco-conscious clients.
SUGGEST SCALABLE AREAS THAT PRACTITIONERS CAN ENGAGE IN TO IMPROVE THEIR CASH FLOW THIS 2026 BUSINESS YEAR?
Cash flow is the life wire of any business, and all hands must be on deck to maintain a healthy cash flow for the organization. All channels of revenue generation must be well-lubricated to forestall any eventualities. I think on the part of operation, Printers should start to look at the benefit from the power of production automation, colour, and quality management, while also providing key data for analyses and reporting. This will keep their customers coming back and maximize performance with a smart workflow. Printers can improve their cash flow by reducing cash outflows – e.g., by securing better trade credit terms or factoring, chasing debtors, selling assets, or securing an overdraft. Printers must maintain the culture of proper bookkeeping, cut spending where necessary, and speed up accounts receivables, also not forgetting inventory management.
“We are very optimistic about the future; hence, we are not slowing down at all.”
WHAT EXCITES YOU ABOUT THIS NEW YEAR THAT WILL MOTIVATE YOU AND YOUR BUSINESS FOR OPTIMUM CLIENT SATISFACTION?
Customer satisfaction is not just a nicety — it’s a necessity for businesses today. For us at Heidelberg Nigeria Limited, understanding how to improve customer satisfaction is crucial for maintaining loyalty, building positive word-of-mouth, and ultimately, driving growth. Our product quality plays a major role in customer satisfaction. Even the best customer service can’t make up for a product that doesn’t meet expectations. Maintaining strong quality standards at every stage, from development to delivery, helps ensure customers have consistently positive experiences with your brand and remain satisfied.
ON A PERSONAL LEVEL, WHAT NEW HABITS DID YOU START AND ARE WORKING WELL FOR YOU THAT OTHERS CAN LEARN FROM?
It’s a privilege that I do not take for granted to share some practical habits that have made me more effective and could be useful for anyone looking to improve on his/her routines. Below are some habits that may be considered:
– Daily prioritization: Mapping out the top 3 must-dos each morning.
– Time blocking: Scheduling focus time to get deep work done.
– Learning sprints: Setting aside time for skill-building or reading.
But what is working wonders is ‘Theme Days’ – dedicating specific days to themes like creativity, admin, or growth. This helps me stay focused and intentional.
AS A FINANCE EXPERT, WHICH AREA(S) DO YOU THINK BUSINESSES SHOULD BE WARY OF TO REDUCE OVERHEAD WITHOUT AFFECTING OVERALL COMPANY OBJECTIVES?
Reducing overhead without undermining company objectives is a delicate balancing act. The key is to identify non-core costs that drain resources but don’t directly drive growth or customer value. As a finance expert, I would say businesses should be wary of cutting costs in these areas:
– Customer service: Don’t compromise on customer service.
– Core product quality: Keep standards high.
– Employee development: Invest in growth.
– Compliance and risk management: Stay safe, stay compliant.
Instead, optimize these:
– Operational efficiency: Streamline processes.
– Vendor contracts: Renegotiate smartly.
– Marketing return on investment: Focus on high-impact channels.
– Energy and resources: Save where possible.
This way, businesses will protect long-term objectives while keeping expenses lean.
WHAT KEY RELATIONSHIP TIPS CAN YOU SUGGEST TO BUSINESS OWNERS FOR GROWTH AND SUSTAINABILITY?
Strong business relationships are the backbone of growth and sustainability. For business owners, cultivating the right habits and approaches can make partnerships, customer loyalty, and team cohesion far more resilient. Business owners should treat relationships as strategic assets. By nurturing trust, communication, and collaboration, they not only drive growth but also build resilience that sustains the business through market shifts. Here are some tips:
– Nurture client relationships: Deliver value, communicate proactively.
– Network strategically: Connect with peers, mentors, and potential partners.
– Empower your Team: Invest in their growth, recognize wins.
– Collaborate, don’t compete: Find win-win partnerships.
HEIDELBERG IS WORLD-RENOWNED FOR ITS PRODUCTS AND SERVICES. WHAT NEW PRODUCT OR SERVICE ARE YOU OFFERING TO DISTINGUISH YOURSELF FROM THE COMPETITION?
Heidelberg is at the forefront of the Printing Industry with several innovative technologies that are set to revolutionize the sector. Heidelberg is a very resilient and dynamic company, still maintaining its technology leadership despite all odds. Some exciting new developments include:
– Jetfire Inkjet Solutions: A new family of inkjet printing systems, including the Jetfire 50 and Jetfire 75, designed for industrial digital commercial printing, offering high productivity and sustainable water-based inkjet technology.
– Prinect Touch Free: A fully automated, hybrid workflow that uses AI to optimize production decisions, enabling print shops to produce efficiently with minimal manual intervention.
– Speedmaster CX 104: A cutting-edge sheetfed offset press with advanced automation features, such as AutoPlate and Intellistart 3, for improved productivity and quality.
– Gallus Label Solutions: High-performance label printing systems, including hybrid lines that combine digital and conventional printing technologies.
These innovations showcase Heidelberg’s commitment to automation, digitalization, and customer-centric solutions. We are very optimistic about the future; hence, we are not slowing down at all.
WHICH AREA (WITHIN THE PRODUCTION SPACE) DO YOU THINK PLAYERS SHOULD INVEST IN TO MOVE THEIR SERVICE OFFERINGS TO THE NEXT LEVEL?
Within the printing production space, the areas that can truly elevate service offerings are those that blend technology, efficiency, and value-added services. Printing firms that invest in digital transformation, sustainability, and integrated services will move beyond commodity printing into strategic brand partners for their clients. This shift not only boosts revenue but also ensures long-term relevance in a competitive market. For instance, the Heidelberg Prinect Workflow solutions for Business & Production make smart production possible. As a central platform, Prinect seamlessly integrates all the steps involved in print production into consistent processes. From the customer contact through to production, the finished product, and billing. Whether your company is small or large, whether commercial, packaging, or label printing – Prinect is the right solution.
ARE THERE SPECIALS, PROMOS, OR DISCOUNTS THAT YOU’RE OFFERING TO YOUR CLIENTS?
Currently, we do not publicly list specific promotions or discounts, but we are known to offer tailored deals on new equipment, refurbished equipment, consumables, and bundled service packages depending on the client’s needs. The best way to access specials is through direct contact with our Lagos office, where customized offers can be arranged.
WHAT ASSURANCE ARE YOU GIVING YOUR CUSTOMERS IN 2026 TO GUARANTEE YOUR COMMITMENT TO THEIR NEEDS ANYTIME, ANYDAY?
Just as in the past years, in 2026, we guarantee our customers round-the-clock support, consistent quality across all our product lines and services, transparent communication at every stage, and flexible solutions that adapt to their evolving needs. Whether it’s commercial, packaging, or label printing, our commitment is to deliver excellence anytime, any day — backed by sustainable practices and a true partnership mindset.
“Printing firms that invest in digital transformation, sustainability, and integrated services will move beyond commodity printing into strategic brand partners for their clients.”
ANY NEW APPOINTMENT AT HEIDELBERG NIGERIA? HOW WILL IT HELP YOUR OVERALL PROCESS AND CLIENT RELATIONS?
No new appointment in Heidelberg Nigeria. Heidelberg globally has been restructuring its leadership and regional operations to strengthen customer service, digital integration, and sustainability, which suggests that any future appointments in Nigeria would likely focus on improving client relations, service responsiveness, and expanding smart production solutions like Prinect.
FINALLY, WHAT ARE YOUR EXPECTATIONS FOR THE 2026 BUSINESS YEAR?
For 2026, the business landscape is expected to be shaped by digital transformation, sustainability, and customer-centric strategies. Companies that anticipate these shifts and align their operations accordingly will be best positioned for growth and resilience. I believe that the year will reward businesses that are digitally agile, customer-focused, and sustainability-driven. The year is less about expansion at all costs and more about resilient growth, building systems that can withstand the various government regulatory changes, market volatility, and evolving customer expectations.
ANY OTHER THOUGHTS ON THE INDUSTRY…
The Printing Industry in 2026 is no longer about ink on paper — it’s about smart, sustainable, and customer-driven solutions. Nigerian printing firms that embrace digital printing, packaging, and eco-friendly practices will thrive despite economic and regulatory challenges. While the fastest returns come from digital presses and workflow automation, packaging lines secure medium-to-long-term growth, and sustainability ensures that the business is future-proof for multinational partnerships and export markets.
THANK YOU FOR YOUR TIME.
ABOUT HEIDELBERG NIGERIA LTD & GODWIN OGILO
Heidelberg Nigeria Limited (HNL) began its operations in Nigeria in November 1998 as the Country Representative of the well-known and respected Heidelberger Druckmaschinen AG, Germany, the world leader in manufacturing and distribution of Printing/Publishing Solutions. HNL is committed to being a total Solution provider offering all aspects of Printing/Publishing/Packaging/Label Equipment to the Graphics Industry in Nigeria. This means that the leading company offers a complete range of Heidelberg Solutions from Prepress to Postpress (Platesetters and Plate Processors, Sheetfed, Digital Printing, Web, Postpress (Finishing), Second-hand/Refurbished equipment, after-sales support (Parts & Repairs), and Consumables (i.e., Inks & Press Room Chemicals), a concept which is unprecedented in the Graphics Industry in Nigeria
Mr. Godwin Ogilo, as MD/CEO, leads Heidelberg’s operations in Nigeria, focusing on providing total print solutions to improve production quality and ROI. Chartered Accountant by profession, his commitment to Total Quality Management (TQM), human capacity development, and good corporate governance makes him a prominent figure in the industry, often commenting on industry trends, technology adoption, structured frameworks, and standard operating procedures. That is why he is one of the leading advocates and promoters of digital integration, sustainable printing practice, and industrial harmony, not only in Nigeria’s growing print & allied markets but also in the entire West African subregion.
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