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Promoting U.S. Export To Nigeria: Navigating the Nigeria Revenue Service Establishment Bill 2024
GRJAFVol 5, Issue 1Volume 5

Promoting U.S. Export To Nigeria: Navigating the Nigeria Revenue Service Establishment Bill 2024

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Authors

  1. Assoc. Prof. Nwadiubu Anthony Odinakachukwu, PhD
  2. Nnabuife Charles Ikechukwu

1 Department of Accounting, Kingsley Ozumba Mbadiwe University, Ideato, Imo State. Country Representative Nigeria/Director, Nigeria-USA Chamber of Commerce

2 Chairman, Nigeria-USA Chamber of Commerce, USA

PROMOTING U.S. EXPORT TO NIGERIA_ NAVIGATING THE NIGERIA REVENUE SERVICE ESTABLISHMENT BILL 2024 – GRJAF AMSSRN.docx (1)Download

Abstract

Research Objectives: This paper examines the implications of the Nigeria Revenue Service Establishment Bill 2024 for US companies exporting goods and services to Nigeria, with a focus on strategic trade alignments within the framework of US-Nigeria trade relations. Utilizing international trade theory, institutional theory, and agency theory, the analysis explores the impact of consolidating tax authorities into a unified entity. Key areas of focus include changes in tax rates and procedures, compliance requirements, and dispute resolution mechanisms. This paper highlights specific provisions of the Bill, including changes to import duties (Section 4), customs procedures (Section 5), penalties for non-compliance (Section 32), and data-sharing requirements (Section 14), assessing their direct impact on US exporters. Given the recent shift in US trade policy under the 2025 “America First” framework (USTR, 2025), the paper evaluates potential trade tensions, tariff retaliations, and compliance risks US firms may face when operating in Nigeria. The study concludes with strategic recommendations for US exporters, including legal compliance measures, policy engagement, and trade diversification strategies to enhance trade sustainability.

References

  1. Federal Republic of Nigeria. (2024). Nigeria Revenue Service Establishment Bill 2024 (HB. 1757). National Assembly of Nigeria.
  2. Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behaviour, agency costs, and ownership structure. Journal of Financial Economics, 3(4), 305-360.
  3. Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2018). International Economics: Theory and Policy (11th ed.). Pearson.
  4. North, D. C. (1990). Institutions, Institutional Change and Economic Performance. Cambridge University Press.
  5. Porter, M. E. (1990). The Competitive Advantage of Nations. Free Press.
  6. United States Trade Representative. (2025). America First Trade Policy. Federal Register