fiscal policy
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Nigeria Nigerians Fume as FG Considers VAT Hike Amid Economic Hardship
The presidential committee advocates for a VAT rate hike, proposing adjustments in revenue-sharing. Taiwo Oyedele highlights plans to reduce the federal government's share to 10%, allocating 90% to states and local governments. The Nigerian Federal Government, through the presidential committee... -
Nigeria Tinubu Faces Backlash: Nigerians Demand Relief from Economic Burdens, Reject Telecom Tax Plan
Amidst negotiations for a $750 million loan from the World Bank, Nigeria contemplates reinstating telecom taxes, sparking outcry among citizens. Social media erupts with demands for relief from fiscal strain, urging Tinubu's administration to alleviate economic burdens. Learn about the proposed... -
Nigeria Tax Waiver Controversy: Senate Pressures FIRS for Suspension as Nigeria Incurs N17 Trillion Loss Over the Last Five Years
In a budget presentation, the Senate Committee on Finance criticized the Federal Inland Revenue Service (FIRS) for a significant N17 trillion loss in tax waivers over five years. They called for a suspension of these waivers and proposed a shift to a more controlled rebating system. The FIRS... -
Nigeria Businesses Face Uncertainty as Senate Mulls Customs Revenue Boost to Tackle Debt
In a bid to address Nigeria's burgeoning debt crisis, the Senate Committee on Customs contemplates raising the revenue target for the Nigeria Customs Service (NCS) in the latter half of 2024. The current target stands at N5 trillion for the fiscal year. Isah Jibrin, Chairman of the Senate... -
Nigeria Nigerians Confused By Oyedele's Plan to Train Area Boys as Tax Officers
In an exclusive interview with Channels Television, Chairman of the Presidential Tax and Fiscal Policy Reform, Taiwo Oyedele, has revealed a groundbreaking proposal to train area boys as tax officers and pay them decent salaries, aiming to transform tax collection and alleviate the burden on... -
Nigeria Federal Mandate: Ministries Instructed to Remit 100% Internally Generated Revenue to New Treasury Account for Fiscal Transparency
In a bid to bolster revenue generation and instill financial discipline, the Federal Ministry of Finance has directed all Ministries, Departments, and Agencies (MDAs) to remit their entire internally generated revenue (IGR) to the newly established Treasury Single Account (TSA). The circular...
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