ZAWYA: Crypto Tax: Nigeria leads globally with 12.31% revenue potential

By Staff Writer

NIGERIA has emerged as the country where taxable cryptocurrency activity could make the largest proportional contribution to government revenue globally, with crypto accounting for a potential 12.31 percent of public finances, according to a new report by blockchain analytics firm Chainalysis.

The report, Crypto Tax Report 2026, estimated that Nigeria recorded about $4.4 billion in taxable crypto activity in 2025, highlighting the growing importance of digital assets to the country’s tax base as the Federal Government moves to strengthen regulation and taxation of the sector.

Chainalysis said global on-chain taxable crypto activity reached $457 billion in 2025, comprising $127.1 billion in realised trading gains from centralised and decentralised exchanges, $81.7 billion in income from mining, staking, lending and gambling, and $248.7 billion in stablecoin payments.

North America accounted for the largest regional volume at $134.6 billion, followed by the European Union with $125.1 billion, while Africa and the Middle East jointly recorded $29.2 billion.

Nigeria’s $4.4 billion in taxable crypto activity was equivalent to more than 38 percent of its estimated $11.3 billion budget deficit in 2025, placing the country 12th among the top 15 countries globally in terms of crypto’s potential contribution towards closing fiscal deficits.