The Office of the Accountant General of the Federation (OAGF) has confirmed the disbursement of ₦1.818 trillion as the Federation Account Revenue for the month of June 2025. The funds have been distributed among the three tiers of government, the Federal Government, State Governments, and Local Government Councils. The announcement was made on Tuesday following
Let’s be honest, talk about “tax reform” usually sounds like a headache waiting to happen, full of complicated terms that don’t seem to apply to everyday life. However, the government has introduced new changes that are actually designed to directly impact you, and it’s important to understand them in simple terms. This is a straightforward
The Nigeria Customs Service (NCS) has announced a two-year exemption from import duty and Value Added Tax (VAT) on critical raw materials essential for pharmaceutical production. Presidential Approval for Tax ReliefThe exemption, granted under a presidential executive order, was disclosed on Wednesday in a statement by the NCS National Public Relations Officer, Assistant Comptroller Abdullahi
The Nigerian National Assembly has been urged to exclude Value Added Tax (VAT) from the proposed tax legislation to allow for more flexible amendments in the future. The proposed tax bill, titled An Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks Relating to Taxation and Enact the Nigeria Tax Act to
