Tag: Tax

“Sex workers must pay taxes on their earnings from 2026” – FG 

Aminu Imam
Taiwo Oyedele

The Federal Government has reiterated that all income earned in Nigeria is subject to taxation, including money made by sex workers, so-called  ‘runs girls’. Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, made the clarification yesterday, during a tax education session held by the Redeemed Christian Church of God, City of David, Lagos. A video of the session has since gone viral online. Oyedele emphasised that while all earnings are taxable, funds sent to dependents or relatives for upkeep are exempt. He described these transfers…

Read More

FG removes 5% Telecom tax on voice, data services

Aminu Imam
FG Telecom tax

The Federal Government has revoked the 5% excise tax previously imposed on telecommunications services in Nigeria, a move expected to ease cost pressures for millions of mobile users. The tax, which was intended to apply to both voice calls and data, had drawn widespread criticism from industry players and consumer advocates since its introduction under the Muhammadu Buhari administration. Executive Vice-Chairman of the Nigerian Communications Commission (NCC), Aminu Maida, disclosed that President Tinubu directed the removal of the tax during discussions on the recently passed Finance Act. The development is…

Read More

Obi slams FG over new 5% fuel tax

Aminu Imam
Obi slams FG

…Says Nigerians ‘can’t breathe’  Former presidential candidate of the Labour Party, (LP), Peter Obi, has criticised the Federal Government over its decision to introduce a 5 percent tax on all refined fossil fuel sales, including petrol and diesel, from January 2026. In a post on his official X handle yesterday, Obi described the move as ill-timed and insensitive, questioning why citizens who are already struggling should face additional financial burdens. Obi wrote: “When will Nigerians truly breathe? A timely and relevant question, as a new 5% tax on all refined…

Read More

President Tinubu scraps 5% telecoms levy

Aminu Imam
Tinubu scraps levy

President Bola Tinubu has scrapped the controversial 5% excise duty on telecommunications services, a policy reversal aimed at reducing the financial burden on Nigerians and boosting growth in the country’s digital economy. Executive Vice-Chairman of the Nigerian Communications Commission (NCC), Aminu Maida, announced the decision during a media briefing in Abuja on Tuesday. Maida said, “The 5% excise duty is no longer in effect. Initially, it was only suspended, but the President has now completely removed it. I was present when the issue was raised, and he firmly said: ‘No,…

Read More

Hardship: Govs. agree to dismantle illegal road blocks, multiple taxes

Aminu Imam
Govs. on road blocks

Governors of the 36 states of the federation have agreed to dismantle illegal road blocks and multiple taxes across the country. They made the resolution after a meeting of the Nigeria Governors’ Forum (NGF) in Abuja, which ended on Thursday. Lagos State governor, Babajide Sanwo-Olu, who read the communiqué  at the end of the meeting, said the governors resolved to dismantle illegal road blocks and multiple taxes, which they said contributed to food inflation in the country. The communiqué  was signed by NGF Chairman and Governor of Kwara State, AbdulRahman…

Read More

‘IOCs owe Nigeria $6bn in taxes’- Falana

Aminu Imam
Femi Falana

Human rights lawyer and Senior Advocate of Nigeria (SAN), Femi Falana, has raised serious concerns over the country’s weak tax enforcement system, revealing that oil and gas companies owe Nigeria a staggering $6 billion in unpaid taxes. Speaking yesterday, during a paper presentation titled: ‘Tax Law and Administration: Challenges of Compliance’, at the ongoing 27th Annual Tax Conference of the Chartered Institute of Taxation of Nigeria (CITN) in Abuja, Falana criticised the Federal Government for allowing such massive revenue losses while continuing to borrow to fund national budgets. He described…

Read More

FG begins implementation of new withholding tax policy

Aminu Imam
Withholding tax written on a paper. Financial concept.

The Federal Government has commenced the implementation of the ‘2024 Withholding Tax Regulations’. The deduction of Tax at source implementation kicked-off on Wednesday, January 1, 2025. According to the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, who announced the kick-off in a statement through his official X account on Wednesday, Small, Medium Enterprises (SMEs) and manufacturers are exempted from the new tax regulation. Oyedele described the regulation as a move expected to alleviate administrative challenges and financial constraints, thereby fostering growth and innovation in…

Read More

Tax Reform Bills: Northern lawmakers stand firm, as regional concerns deepen

Aminu Imam
Northern lawmakers on Tax

Amid growing regional tensions over the proposed tax reform Bills, Northern lawmakers have intensified their efforts to safeguard the region’s interests.  The League of Northern Democrats (LND) has formed a technical committee to scrutinise the Bills, citing potential risks to Northern economic and social stability. The LND’s spokesman, Dr Ladan Salihu, revealed that the committee, composed of legal, financial, and legislative experts, has a one-week deadline to recommend amendments that ensure justice and equity. “This initiative underscores our commitment to promoting national unity and protecting the developmental interests of our…

Read More

Tax Collection System: “Businesses will suffer, economy’ll retrogress if States collect VAT” – Oyedele

Aminu Imam
Oyedele on tax collection

The Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, has raised the alarm that businesses will suffer while the economy would retrogress if State governments are allowed to collect value-added tax. Speaking on a live television programme at the weekend, Oyedele recalled that a similar approach was attempted in the 1980s with sales tax, but that the sub-national governments failed to generate significant revenue through it. “By 1999, we were writing the constitution because we now have the 4th Republic. But what we did was to just replicate the…

Read More

FG plans 5% tax on Telecoms services, others 

Aminu Imam
FG tax on Telecoms

The Federal Government has proposed a 5 percent excise duty on telecommunications services, gaming, and betting activities as part of a new bill to overhaul Nigeria’s tax framework. The Bill, titled: “A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks relating to Taxation and Enact the Nigeria Tax Act to Provide for Taxation of Income, Transactions, and Instruments, and Related Matters”, was dated October 4, 2024, and obtained from the National Assembly. An analysis of the proposed legislation on Friday showed that it…

Read More