Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has attributed Nigeria’s unprecedented surge in revenue to sweeping fiscal reforms championed by President Bola Tinubu led administration. Speaking to journalists at the State House in Abuja, Adedeji revealed that the federal government recorded N3.64 trillion in revenue...
Tax Reform bills
Federal Government has revoked the 5% excise tax previously imposed on telecommunications services in Nigeria, a move expected to ease cost pressures for millions of mobile users. The tax, which was intended to apply to both voice calls and data, had drawn widespread criticism from industry players and consumer...
By ANIEFIOK UDONQUAK, Uyo – Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) has lauded President Bola Tinubu over the tax reform bills recently signed into law saying it is an indication of the Federal Government’s commitment to “building a transparent, and growth-oriented tax system.” It stated that...
President Bola Tinubu has signed four landmark tax reform bills into law, marking a significant milestone in the country’s economic governance. The ceremony, held on Thursday at the State House in Abuja, was attended by Senate President Godswill Akpabio and House Speaker Tajudeen Abbas, among other dignitaries. The four...
By DAVID IORJA Abuja- President Bola Tinubu will on Thursday sign into law four groundbreaking tax reform bills that will transform Nigeria’s fiscal and revenue framework. This is according to a statement issued by the presidential Media aide, Bayo Onanuga on Wednesday in Abuja. Mr. Onanuga said the four bills,...
The Senate on Thursday passed the remaining two of four key tax reform bills, having earlier approved two on Wednesday. The News Agency of Nigeria (NAN) reports that the newly passed bills are the Joint Revenue Board Establishment Bill, 2025 and the Nigeria Tax Bill, 2025. Their passage followed...
The Senate passed two of the four Tax Reform Bills on Wednesday. These are expected to reform Nigeria’s tax laws. Lawmakers approved the bills after considering and adopting recommendations from the Senate Committee on Finance, led by Sen. Sani Musa. The four key bills are: the Joint Revenue Board...
The President, Trade Union Congress (TUC), Mr Festus Osifo, says the organised labour is against the proposed tax bills by the Federal Government because it imposes heavy burdens on workers’s meager allowances. Speaking during the 2025 May Day celebration in Abuja, Osifo criticised the bills for “disproportionately targeting workers...
The Presidency has said the Tax Reforms Bill, when passed, will make housing more affordable and available to Nigerians by reducing tax burden on the construction and real estate sectors The Chairman of the Presidential Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, made this known in Abuja on...
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said the Tax Reform Bill would curb poverty and empower ordinary Nigerians. Oyedele made this known at the Spokespersons’ Summit, organised by the Nigerian Institute of Public Relations (NIPR) in Abuja. He expressed strong optimism...
The Leader of the Senate, Sen. Opeyemi Bamidele, has said that the Senate will look into all issues of public concerns relating to the Tax Reform Bills, 2024. He also assured Nigerians that the upper chamber will consider the bills immediately after Eid-El-Fitir and Easter holidays. Bamidele made this...
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has said the proposed tax reform bill will significantly reduce financial burden and create growth enabling environment for small business owners. The Director-General of SMEDAN, Mr Charles Odii, said this at a stakeholder engagement on tax reforms organised by...
The House of Representatives on Thursday, adopted the Tax Reform Bill as a working document. Arising from the Committee of the Whole, the Speaker, Rep. Tajudeen Abbas, said that after deliberations on clauses of the bill, the house adopted it as a working document. Abbas who commended the Committee...
The Chairman of the Senate Committee on Finance, Sen. Sani Musa, has assured that the Senate would produce legislation from the tax reform bills aimed at making Nigeria’s economy a trillion-dollar base. He added that President Bola Tinubu had tasked the National Assembly with this goal and that the...
The Senate will begin a two-day public hearing on the four tax reform bills presented by President Bola Tinubu to improve the nation’s tax administration. Chairman of Senate Committee on Finance, Sen. Sani Musa, said this at a news conference in Abuja on Wednesday. Sani after a closed session...
By TYAV SAM TYAV, Makurdi – Benue State Governor, Hyacinth Alia has declared support for Tax Reform Bills transmitted to the National Assembly by President Bola Tinubu.. Governor Alia made this known on Wednesday while briefing newsmen in his office at the state secretariat in Makurdi, the state’s capital....
The Trade Union Congress (TUC) has advocated that the Value Added Tax rate remains at 7.5 per cent as any increase will place additional financial burden on Nigerians. TUC President, Mr Festus Osifo, said this in a statement on Tuesday in Abuja. According to him, many Nigerians are already...
The Trade Union Congress of Nigeria (TUC) has called for review of some items in the tax bills for the benefits of Nigerians. TUC President, Festus Osifo made the call in a statement on Tuesday following its National Executive Council meeting. “The threshold for tax exemptions should be increased...
By ARMSTRONG ALLAHMAGANI, Bauchi – The Coalition of Northern Groups has kicked against the planned increase of the Value Added Tax by the Federal Government as a way of revenue generation. They instead, called for a downward reduction of the VAT from the current 7.5% to 3% in view...