Bashir Adeniyi, the Comptroller General of the Nigeria Customs Service, has announced that the agency has successfully met its revenue generation target of N5.07 trillion for 2024. Adeniyi made this announcement during the Comptroller General of Customs’ Conference held in Abuja on Wednesday. As of November 12, 2024, the service has collected a total of…
Taiwo Oyedele, the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has shed light on the reasons behind the controversy surrounding the Value Added Tax (VAT) distribution proposal currently before the National Assembly. In a post shared on his X account, titled “10 Most Frequently Asked Questions About the Tax Reform Bills,” Oyedele…
The federal government is urging both local and international investors to explore opportunities in Nigeria’s sugar market, which is valued at approximately $2 billion. Kamar Bakrin, the Executive Secretary and CEO of the National Sugar Development Council (NSDC), emphasized that Nigeria’s annual sugar consumption ranges from 1.4 to 1.6 million metric tonnes. Bakrin stated that…
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, said the revenue agency has become more taxpayers-friendly with the ongoing transformation and innovation it has embarked upon. Adedeji stated this at the FIRS Special Day at the just concluded 2024 Lagos International Trade Fair (LITF) at the Tafawa Balewa Square, Lagos….
Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS), has stated that the four tax bills currently under consideration by the National Assembly pose no threat to the existence of any government agency or the jobs of individuals. Adedeji provided this reassurance on Wednesday in Abuja during a meeting with the chief executive officers…
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has affirmed that the current administration will not reverse its reforms in the foreign exchange and oil and gas sectors. Edun made this statement during a meeting with the newly appointed Minister of State for Finance, Doris Uzoka Anitez, at the Ministry’s headquarters…
Ngerian businesses faced a notable decline in October 2024, with the purchasing manager index (PMI) falling to 46.9, down from 49.8 in September. This information comes from the Stanbic IBTC Purchasing Managers’ Index (PMI) for October. The data highlights the challenges that many businesses in Nigeria are encountering due to escalating inflation, which reached 32.70…
The National Economic Council, which includes members of the Nigerian Governors Forum, has recommended that the presidency withdraw the Tax Reforms Bill from the National Assembly. This request is based on the necessity for broader consultations and consensus among stakeholders. Oyo State Governor Seyi Makinde stated that this recommendation was part of the resolutions made…
