Nigeria Loses $18bn to Tax Evasion, Profit Shifting – Minister
September 27, 2025
2:16 am
Nigeria is losing an estimated $18 billion every year to tax evasion, profit shifting, and other illicit financial flows, according to the country’s Ministry of Finance — a figure officials warn threatens economic growth and fiscal stability.
Minister of State for Finance, Dr. Doris Uzoka-Anite, disclosed the figure on Tuesday in Abuja at the National Conference on Illicit Financial Flows. She described the losses as a “hydra-headed monster” that drains vital resources from the economy and undermines Nigeria’s development agenda.
Dr. Uzoka-Anite said the majority of the outflows stem from aggressive tax avoidance and profit-shifting strategies by multinational corporations operating …
