At the 2025 Ministerial Press Briefing, Lagos State Commissioner for Economic Planning and Budget, Ope George, disclosed that the state government invested ₦130 billion in social intervention programmes in 2024, impacting over 18.5 million residents. These interventions included targeted transport subsidies to ease the burden of fuel subsidy removal, and the Ounje Eko food programme, […]

The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has cautioned Nigerians against trusting investment firms that are not registered or regulated by the SEC, stressing that registration with the Corporate Affairs Commission (CAC) and possession of a SCUML certificate from the Economic and Financial Crimes Commission (EFCC) do not constitute proper

The President of the Trade Union Congress (TUC), Mr. Festus Osifo, has voiced strong opposition to the Federal Government’s proposed tax bills, arguing that they place undue financial strain on workers’ already limited allowances. Speaking at the 2025 May Day celebration held in Abuja on Thursday, Osifo criticised the tax proposals, stating they unfairly target

Guinness Nigeria Plc has bounced back to profitability, posting a ₦6.72 billion profit after tax for the nine months ended March 31, 2025. This marks a remarkable turnaround from the ₦61.65 billion loss recorded in the same period last year. According to the company’s unaudited financial results filed with the Nigerian Exchange Limited, revenue jumped

The Federal Inland Revenue Service (FIRS) has instructed banks to close any tax and levy collection accounts not authorized through its TaxPro Max platform. FIRS Chairman, Zacch Adedeji, issued the directive in a statement on Monday, describing TaxPro Max as a locally developed tax administration system that supports processes such as taxpayer registration, returns filing,

The Federal Government of Nigeria has announced that the proposed Tax Reform Bill, once passed into law, will exempt real estate transactions from Value Added Tax (VAT) — a strategic move aimed at lowering the cost of housing and building materials. This reform seeks to reduce the financial burden on low-income earners while stimulating growth

The International Monetary Fund (IMF) has called on Nigeria to expand its tax revenue base to enhance its fiscal policies. IMF Managing Director, Kristalina Georgieva, made this statement in Washington, D.C., during the 2025 IMF Spring Meetings. She emphasized that Nigeria, like many other African nations, needs to leverage technology and combat tax evasion to

In September 2024, optimism surged when Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, announced plans to eliminate Value Added Tax (VAT) on public transportation. The news was widely welcomed—not only by everyday commuters, but also by advocates of tax justice and economic equity. The proposed VAT exemptions were expansive, covering

In a strategic move to enhance financial standards and deepen sector-specific expertise within Nigeria’s evolving aviation industry, the Institute of Chartered Accountants of Nigeria (ICAN) has officially inaugurated its specialized Aviation Chapter. This newly established platform is designed to unite ICAN members with experience and interest in aviation finance, creating a dynamic space for professional

The Federal Inland Revenue Service (FIRS) has rolled out an ambitious recruitment initiative aimed at boosting its in-house workforce to 80% by the end of the current administration. This strategic move is designed to reduce dependence on external consultants and foster a more capable, self-reliant institution. A Key Pillar of the 2025 Strategic Roadmap This