The National Information Technology Development Agency (NITDA), in line with its mandate, is undertaking the development of comprehensive Regulatory Guideline for Electronic Invoicing in Nigeria.
This guideline is designed to promote transparency and deepen the use of technology for e-government automation as well as support the fiscal development of Nigeria through prudent administration of government revenue. Furthermore, the guideline will also ensure that only qualified persons and companies who have met regulatory requirements are part of the e-invoicing process for implementing Business-to-Business (B2B), Business-to-Consumer (B2C), and Business-to-Government (B2G) transactions. Other advantages of implementing these guidelines include:
- Improving Tax Compliance and Reducing Fraud;
- Enhancing Efficiency and Reducing Costs;
- Increasing Transparency and Accountability;
- Fostering Standardisation and Interoperability thereby ensuring that Nigeria is ready for international digital commerce; and
- Providing sustainability to business practices in an eco-friendly manner.
E-invoicing guidelines are expected to transform digital commerce by improving operational efficiency, strengthening data security, and fostering transparency.
As part of the Agency’s Rulemaking process, the document has been subjected to internal reviews in consultation with some stakeholders where insightful feedback and updates were received. However, in line with the Agency’s participatory approach towards co-creation of regulatory instruments, all stakeholders and the public are invited to review the document, available for download here. All comments and review should be sent to regulations@nitda.gov.ng on or before 26th November 2024.