News Report – July 23, 2025 Airline operators in Nigeria have warned that passengers should prepare for a hike in ticket prices beginning January 2026, as the federal government rolls out a new tax regime that includes the reinstatement of Value Added Tax (VAT) on air transport services. According to the operators, the proposed fiscal
News Report – July 23, 2025 In a significant shift to revamp its corporate tax landscape, the Federal Government of Nigeria has officially scrapped the controversial Excess Dividend Tax (EDT), marking the end of a longstanding policy that has drawn criticism from businesses and tax professionals for years. The removal of the EDT forms a
Lagos, July 9, 2025 — The Corporate Accountability and Public Participation Africa (CAPPA) has warned that Nigeria is forfeiting more than ₦200 billion each year due to its underwhelming sugary drink tax, emphasizing the urgent need for reform to address health and economic costs. Presenting at a public health symposium in Lagos, CAPPA’s Executive Director, Akinbode Oluwafemi,
Starting from January 2026, all financial institutions operating in Nigeria will be mandated to report customer accounts with monthly transactions of ₦5 million and above to the Federal Inland Revenue Service (FIRS), as part of the Federal Government’s effort to enhance transparency and widen the tax net. This directive, which comes under the evolving tax
Abuja, Nigeria – June 30, 2025 The Federal Government has officially unveiled sweeping tax and Value Added Tax (VAT) reforms, set to take effect in 2026, aimed at reducing the tax burden on low-income earners, increasing transparency in financial transactions, and restructuring VAT distribution across the three tiers of government. The reforms, announced through the
Abuja, Nigeria – June 27, 2025 — Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has issued a clarification regarding recent public discourse on Nigeria’s new tax exemption threshold. In a statement released on Thursday, Oyedele addressed what he described as a misinterpretation of his earlier comments, noting that the
Lagos, Nigeria – June 2025Billionaire businessman and Chairman of Geregu Power Plc, Femi Otedola, has lauded the Federal Government’s recent tax reform initiatives, describing them as a major step toward improving Nigeria’s business climate and attracting long-term investments. Reacting to the signing of the new tax laws by President Bola Ahmed Tinubu, Otedola stated that
Abuja, Nigeria – June 27, 2025 —Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, has expressed a deep sense of fulfilment following President Bola Ahmed Tinubu’s recent signing into law of four key tax reform bills, which he described as a major turning point in Nigeria’s economic policy framework.
ABUJA – In a massive move that rewrites Nigeria’s money rules, President Tinubu yesterday signed four major tax reform bills into law. Forget dry policy talk; this shake-up aims to hit the streets, affecting everyday Nigerians hustling to earn, save, or grow their businesses. Here’s the breakdown: 1. SMALL BUSINESSES CATCH A BREAK!Listen up, traders,
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, has announced that Nigerian households earning ₦250,000 or less on a monthly basis will be exempted from paying personal income tax, in what he described as a major step towards easing the financial pressure on low-income earners across the country. Speaking
