NEITI Knocks NNPCL Over Failed 2.8tn Tax Payment The Nigerian National Petroleum Company Limited did not pay approximately N2.8 trillion in taxes to the Federal Government in 2022, according to the Nigerian Extractive Industries Transparency Initiative. In its newly released ‘2021 Oil and Gas Industry Report’,...

FG to Cut 83% in Taxes, Levies  The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, has said Nigeria has over 60 different forms of taxes and levies, many of which make life unbearable for the poor in society. Oyedele...

Tax Revenue Hits N3.48trn in H1’23 - Report Revenue from Value Added Tax (VAT) and Company Income Tax, CIT, grew Year-on-Year (YoY) by 17 percent to N3.48 trillion in the first half of 2023 (H1’23) from N2.97trillion in the corresponding period of 2022, H1’22. Details of...

Consumers, Companies’ Taxes Increase by 96% to N2.3trn   Government revenue got a boost as taxes from companies and consumers rose by 96.11 per cent to N2.31trn in the second quarter of 2023, signifying a huge jump between the first quarter and second quarter of the...

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...