The Federal Government has begun rolling out a national Electronic Fiscal System (EFS) to modernise tax administration, curb evasion, and enhance transparency in revenue collection.
The platform, which incorporates an electronic invoicing solution called the Merchant-Buyer Model, went live on August 1, 2025, after a pilot phase that started in November 2024.
The first phase targets companies with an annual turnover of ₦5 billion and above, giving the Federal Inland Revenue Service (FIRS) real-time visibility into commercial transactions and ensuring the authenticity and accuracy of invoices.
The agency said at least 1,000 of over 5,000 eligible firms have already joined, with the onboarding deadline extended from August 1 to November 1, 2025, to allow more firms to integrate.
In collaboration with the National Information Technology Development Agency, approved service providers will support integration and invoice transmission.
The e-invoicing rollout will later extend to medium-sized and emerging businesses, aligning with global best practices and the Nigeria Revenue Services Reform Act.
President Bola Tinubu has also approved sweeping tax reforms, with new laws taking effect in January 2026 to introduce digital registration, stricter reporting rules, and mandatory beneficial ownership disclosure to close loopholes and improve revenue assurance.