On Wednesday, the President of the Senate, Godswill Akpabio, stated that the National Assembly’s decision to approve the tax reform bills submitted by President Bola Tinubu was motivated by the national interest. Through his media aide, Eseme Eyiboh, Akpabio explained that the bills were passed after thorough negotiations, extensive stakeholder consultations, and transparent deliberations that […]

The Imo State chapter of the Peoples Democratic Party (PDP) has condemned the state’s poor showing in the recently released Value Added Tax (VAT) data for the first quarter of 2025, which ranked Imo 35th out of 36 states, describing it as evidence of a lack of effective economic policies. In a press statement, the

In a strategic move aimed at revitalizing Nigeria’s oil and gas industry, President Bola Tinubu has signed the Upstream Petroleum Operations Cost Efficiency Incentives Order, 2025, into law. Announced on June 2, 2025, this executive order introduces groundbreaking tax relief measures for upstream oil and gas companies that adopt cost-saving practices. What’s in the New

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adelabu Adedeji, officially welcomed the agency’s newly recruited staff during an induction programme held on Monday, June 2, 2025. Delivering his keynote address, Adedeji highlighted the critical responsibility the new employees carry in helping shape Nigeria’s economic future and ensuring long-term fiscal sustainability. “Today

The Nigerian Senate has passed all four tax reform bills proposed by President Bola Tinubu, marking a major step toward reshaping the country’s tax system. The new legislation is designed to modernise tax administration, boost revenue collection, and ensure a more balanced distribution of tax proceeds among the federal, state, and local governments. Highlights of

The Federation Account recorded a total revenue inflow of N7.4 trillion in the first quarter of 2025, according to data from the Federation Account Allocation Committee (FAAC). This revenue was remitted by major government revenue-generating agencies, including the Federal Inland Revenue Service (FIRS), Nigeria Customs Service, and others. Of the total inflow, N4.96 trillion was

Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), has revealed that only 19 percent of Nigerians pay taxes, based on findings from several studies. Adedeji made this known on Tuesday during the launch of a new book titled “Taxation: Essential Knowledge for Nigerian Children”, an initiative supported by the FIRS. He was

The Federal Inland Revenue Service (FIRS) has strongly criticized the Federal Capital Territory Administration (FCTA) for shutting down one of its offices in Abuja. The agency described the move as both “malicious” and “unprofessional.” In a statement posted on X (formerly Twitter), Aderonke Atoyebi, Technical Assistant on Broadcast Media to the FIRS Executive Chairman, accused

The Federation Account Allocation Committee (FAAC) has released its Value Added Tax (VAT) report for the first quarter of 2025, revealing that Nigeria’s 36 states collectively generated ₦1.5 trillion in VAT revenue. Once again, Lagos State emerged as the top contributor by a wide margin. According to data obtained by Investors King, Lagos alone accounted

The Federal Inland Revenue Service (FIRS) has made a major move to improve tax compliance in Nigeria by launching a stakeholder engagement forum focused on its e-invoicing initiative. The forum, held in Lagos, brought together key players from the manufacturing and oil and gas industries to deliberate on the rollout and practical application of the