The Kano State Government has announced its intention to prosecute all tax defaulters in 2025 as part of a comprehensive reform in tax administration. Eko Hot Blog reports that Zaid Abubakar, the Executive Chairman of Kano State Internal Revenue Service, made this declaration during a presentation at a retreat for top government officials. EDITOR’S PICK … Read more
The Nigeria Customs Service (NCS) has approved the promotion of 1,419 junior officers across various ranks, recognizing outstanding performance in the 2024 promotion exercise. The promotions, encompassing both General Duty and Support Staff officers, were ratified during the 10th Management Meeting held on November 29, 2024, under the leadership of Comptroller General of Customs (CGC), … Read more
The House of Representatives has directed the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) to provide detailed records on oil production, crude sales, and other upstream petroleum operations in the country. This mandate was issued during a joint session of the House Committee on Finance and the Committee on National Planning, held in Abuja on Friday … Read more
Lagos State Governor Babajide Sanwo-Olu has refuted allegations that Lagos will gain disproportionately from the proposed tax reforms, urging Nigerians to thoroughly study the provisions before making conclusions. Speaking during an interview with the News Agency of Nigeria (NAN) at the Africa Investment Forum Market Days 2024 in Morocco, Sanwo-Olu responded to concerns raised by … Read more
The Peoples Democratic Party (PDP) and the ruling All Progressives Congress (APC) exchanged criticisms on Sunday regarding the recent Supreme Court ruling that grants autonomy to local governments. The PDP described the Supreme Court judgment as potentially problematic, while the APC labeled the PDP as an enemy of the people, accusing them of obstructing the … Read more
Eko Hot Blog reports that the chairman of the Federal Inland Revenue (FIRS), Zacch Adedeji has said President Bola Tinubu has given a directive for a single-digit tax system in Nigeria. Adedeji spoke on Wednesday when Adebayo Alli, chief executive officer (CEO) of Guinness Nigeria, led a management team of the firm on a visit … Read more
EKO HOT BLOG reports that the Federation Account Allocation Committee Disbursement reports, the Federal Government has deducted over N415 billion from state government allocations to service their external loans between 2019 and 2023. This information, published by the National Bureau of Statistics, highlights significant deductions made from state allocations from the Federation Account over the past … Read more
Economic Confidential, a publication of PRNigeria, on Sunday, released its Annual States Viability Index (ASVI). The report shows that 7 states, led by Katsina, are insolvent as their Internally Generated Revenue (IGR) in 2019 were below 10 percent of their total federal allocation in the same year. IGR is generated through Pay-As-You-Earn Tax (PAYE), direct … Read more