Taiwo Oyedele
4 hours ago
The federal government has been accused of mismanaging over 60 taxes and levies collected across the country. The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, made these allegations during a Senate plenary session on Wednesday. Oyedele claimed that despite collecting over 60 taxes and levies, the government has little…
18 Nov
Nigeria's economy would be headed for trouble if states are allowed to collect Value Added Tax (VAT), Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele warned on Monday. Recalling previous efforts of some states to challenge the legality of the federal government collecting VAT, Oyedele expressed concerns that allowing states…
18 Nov
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has clarified that the proposed tax reform bills before the National Assembly were not designed to target or undermine any region. Oyedele made the clarification at an interactive session on the proposed tax reform bills organised by the House of Representatives on…
18 Nov
As uncertainty persists over the fate of the proposed tax reform bills in the National Assembly, the committee is proposing a N50 million tax exemption for small and micro businesses in the country.
12 Nov
The Chairman Presidential Committee on Fiscal and Tax Reforms, Taiwo Oyedele, has said the Federal Government is eyeing a single-digit tax regime to reduce the burden of multiple taxation on Nigerians. Speaking in an interview on Channels Television, Oyedele said a single-digit tax system, which allows less than 10 taxes to be paid by citizens…
24 Oct
Search giant Google, leading chief executive officers (CEOs) and government leaders have pledged commitment towards advancing Nigeria’s digital economy and supporting businesses facing economic headwinds.
15 Oct
Wealthy Nigerians earning ₦100 million and above monthly may soon face a 25 per cent personal income tax rate if a new bill is passed
4 Oct
The Federal Government of Nigeria has exempted 63 items from Value-Added Tax (VAT) as part of its latest fiscal reforms. This development was revealed by Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, in a post on X (formerly Twitter) on Friday. The exemptions are listed in the official "Value…
3 Oct
Importers, shippers, clearing agents and allied professionals have expressed frustration with the Federal Government's handling of import duty exchange rates, citing a lack of leadership and proactive measures to stabilise the rate as a setback for the economy.
2 Oct
With effect from January 2025, small businesses with an annual turnover below N25 million will no longer be liable for withholding tax. This follows the publication of the Deduction of Tax at Source (Withholding) Regulations, 2024, in the official gazette. The publication was announced by the Chairman of the Presidential Fiscal Policy and Tax Reforms…
11 Sep
Barring any adjustment to the proposed tax regime of the Taiwo Oyedele’s committee’s report by the National Assembly, the Federal Government would likely focus more on indirect taxes.
Latest
5 mins ago
The Niger State Executive Council has proposed an estimate of a N1.20 trillion budget for the 2025 fiscal year for approval. The commissioner, in his analysis, also stated that even though the 2024 approved budget was supplemented with the sum of N191.98bn, the breakdown of the draft 2025 proposals revealed an increase of 1.18% in…
10 mins ago
A group, the Voice of African Universities (VAU), has labelled a petition submitted to Nigeria's Minister of Education, Dr. Maruf Olatunji Alausa, alleging a breach of extant guidelines in the appointment of Professor Aisha Sani Maikudi as the Acting Vice-Chancellor of the University of Abuja (UniAbuja), as baseless and archaic. The group, in a press…
15 mins ago
Mr Sule Abdulaziz, Managing Director of Transmission Company of Nigeria (TCN), says the Federal Government has spent about N8.8 billion to repair vandalised transmission towers across the country. This is contained in a statement in Abuja on Wednesday by Mr Bolaji Tunji, Special Adviser on Strategic Communication and Media Relations to the Minister of Power.…
21 mins ago
A bill which seeks to create the Federal Capital Territory Satellite Towns Development Commission has passed its second reading on the floor of the Senate. The piece of legislation is sponsored by Senator Aliyu Wadada, representing Nasarawa West on the platform of the Social Democratic Party. In his lead debate, the senator told his colleagues…
22 mins ago
The Federal Government has introduced a new strategy focused on promoting Science, Technology, Engineering, and Mathematics (STEM), enhancing Technical and Vocational Education and Training (TVET), and raising the overall standard of education. The Minister of Education, Dr. Tunji Alausa, stated this in Abuja on Wednesday while declaring open the stakeholders’ consultative dialogue on the Education…
37 mins ago
Former Director-General of the National Orientation Agency (NOA), Alhaji Idi Farouk, has described Dangote Oil Refinery as Nigeria’s pride that must be guided against any sabotage. Farouk, in an interview with the News Agency of Nigeria (NAN) in Abuja on Wednesday, advised President Bola Tinubu to ensure his directive on the refinery were fully implemented.…
37 mins ago
The Rivers State House of Assembly, led by Martin Amaewhule, in a significant move to modernise the legislative framework in the state, has passed the Rivers State Commissions of Inquiry Bill 2024. The development aims to repeal the outdated Rivers State Commissions of Inquiry Law, Cap 30, Laws of Rivers State, 1999, and re-enact a…
40 mins ago
The National Centre for Technology Management (NACETEM) is set to collaborate with various organizations to leverage technology and make blood donation more easily accessible and convenient for Nigerians. The initiative aims to promote the use of technology and innovation to increase blood donation in the country. The Guardian reports that NACETEM is an agency under…
46 mins ago
The Lagos State government has embarked on a groundbreaking initiative to enhance its revenue generation capabilities in partnership with the Organised Private Sector (OPS), the National Data Protection Commission (NDPC), and the National Information Technology Development Agency (NITDA). This collaboration focuses on harnessing digitisation and e-governance to drive economic growth while safeguarding citizens' data in…
50 mins ago
Nigeria stands at a critical juncture in the evolution of its mining sector, with untapped potential waiting to be transformed into prosperity. However, this transition requires bold reforms, collaborative efforts, and strategic thinking to overcome systemic challenges. Speaking at the recent Nigerian Mining Week held in Abuja from November 18 to 20, 2024, I outlined…