Lagos State Governor, Babajide Sanwo-Olu, has revealed that the state generated approximately ₦1.3 trillion in internally generated revenue (IGR) in 2024, attributing the milestone to sustained reforms in tax administration and digital innovation. Speaking at the 159th meeting of the Joint Revenue Board in Lagos, the governor described the revenue figure as modest but impactful, noting that IGR now…
The Presidential Fiscal Policy and Tax Reforms Committee has rejected a recent analysis by global professional services firm KPMG on Nigeria’s newly enacted tax laws, saying the firm misunderstood key policy objectives and mischaracterised deliberate reforms as errors. KPMG had raised concerns about what it described as multiple gaps and mistakes in the new tax…
The Nigerian Bar Association (NBA) has called for the immediate suspension of the implementation of the Tax Reform Acts, citing allegations that sections of the laws were altered in the gazetted versions, contrary to what was passed by the National Assembly. The call followed an alarm raised last week by Abdulsamad Dasuki, a member of…
The Speaker of the House of Representatives, Abbas Tajudeen, has reaffirmed the National Assembly’s commitment to sustained tax reforms aimed at supporting Nigeria’s energy transition and climate-responsibility agenda. Abbas made the statement on Monday at a one-day policy dialogue with lawmakers on taxation for a fossil-fuel phase-out, held in Lagos. Nigeria, at COP26, pledged to…
The Federal Government has officially published Nigeria’s new tax reform laws in the national gazette, following President Bola Tinubu’s assent on June 26. This was disclosed in a statement issued on Wednesday by Kamorudeen Yusuf, Personal Assistant on Special Duties to the President. The tax reforms introduce four key legislations: Nigeria Tax Act 2025 Nigeria…
Senate Delays Passage of Tinubu’s Tax Reform Bills, Sets Two-Day National Security Summit The 10th Senate has postponed the passage of President Bola Tinubu’s proposed tax reform bills until Wednesday to allow for thorough review and debate. The four bills—the Nigerian Tax Bill, Tax Administration Bill, Revenue Tax Board Bill, and Nigerian Revenue Service Establishment…
The House of Representatives discussed the four tax measures that President Bola Tinubu sent to the National Assembly for review and approval on Wednesday, ending months of uncertainty. After parliamentarians agreed on the controversial Value Added Tax proposals during plenary, the bills passed second reading. Following the recommendations of the Presidential Taskforce on Fiscal Policy…
President Bola Tinubu has made it clear that his administration’s controversial tax reform is non-negotiable, stressing that it is a necessary step toward revitalizing the nation’s economy. During his first presidential media chat on Monday night, Tinubu explained that the economy cannot be revived by sticking to outdated methods. “Tax reform is here to stay;…
The Minister of Information and National Orientation, Mohammed Idris, has argued that Nigeria’s tax system is long overdue for reforms. He made the declaration at the national discourse organised by the Kaduna Chapter of the Nigerian Institute of Public Relations, on Saturday, in Kaduna State. Idris stressed the role of public relations in bridging the…
