Section 90 Nigeria Tax Act 2025

Section 90 of the Nigeria Tax Act 2025 is about Charge of petroleum profits tax. It provides as follows:

(1) This Part shall apply to oil prospecting licences and oil mining leases that are yet to convert under the provisions of the Petroleum Industry Act.

(2) Subject to Part I of Chapter Three of this Act and subsection (1), there is levied upon the profits of each accounting period of a company engaged in petroleum operations during that period a tax to be charged, assessed and payable in accordance with the provisions of this Part.