In Six Months, Product Taxes Rise To N1.36trn – NBS   Taxes on products in the country rose to N1.36tn in the first six months of 2023 despite worsening hardship across the board. This is a 113.29 per cent increase from the N636.19bn it was in the...

Appraising Tinubu's Move to Reform Nigeria's Tax System By Zekeri Idakwo During the week, President Bola Ahmed Tinubu inaugurated a 40-man Committee on Fiscal and Revenue Reforms. According to the Chairman of the Committee, Taiwo Oyedele, "Nigeria loses N20 trillion yearly to tax gap". This is...

FG to Stop Customs, 62 other MDAs from Collecting Revenues The Presidential Committee on Tax Policy and Fiscal Reforms says the Nigeria Customs Service and 62 other Ministries, Departments and Agencies (MDAs) of the Federal Government will stop direct collection of revenue. This was disclosed by...

'Nigeria Loses N20trn To Tax Underpayment'   Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, has said tax gap in Nigeria hovers around N20 trillion. He, however, pledged the total commitment of the committee to bring about comprehensive and harmonised tax...

Tinubu Chases 18% Tax-GDP Ratio, Vows to Cut Borrowing President Bola Ahmed Tinubu has expressed his commitment to break the vicious cycle of overreliance on borrowing for public spending. The President said the resulting burden of debt servicing is not good for the country's economy. Inaugurating the...

FG Begins Harmonisation of Taxes, Inaugurates Committee Today The federal and state governments have commenced harmonisation and codification of taxes at the national and sub-national levels to eliminate multiple taxation and increase revenue. In line with this, President Bola Tinubu is also expected to inaugurate the...