₦500 fuel levy won’t begin automatically in 2026 Nigerians urged to disregard misleading claims Implementation requires the Finance Minister’s formal order The Presidential Fiscal Policy and Tax Reforms Committee has announced that the proposed ₦500 fuel levy will not take effect automatically on January 1, 2026. This clarification comes from the Committee’s chairman, Taiwo Oyedele, … 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 Senate has temporarily halted discussions on the controversial Tax Reform Bills, directing its Committee on Finance to pause public hearings pending resolutions to public concerns. This decision was announced during Wednesday’s plenary, presided over by Deputy Senate President Jibrin Barau. A special committee has been set up to engage the executive arm and address … Read more
Taiwo Oyedele, Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, has firmly rejected any plans to engage Alpha-Beta Consulting or other external consultants for tax collection. EKO HOT BLOG reports that speaking at a town hall meeting hosted by Channels Television on Monday, Oyedele addressed concerns regarding the use of external consultants … Read more
Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has explained the reasoning behind the proposal to rename the Federal Inland Revenue Service (FIRS) to the Nigeria Revenue Service (NRS). EKO HOT BLOG reports that the name change is part of the Nigeria Revenue Service Establishment Bill, currently before the National … Read more
Deputy spokesman of the House of Representatives, Mr. Philip Agbese, has alleged that some governors are coercing federal lawmakers to withdraw their support for President Bola Tinubu’s Tax Reform Bills. According to Agbese, these governors have threatened to deny lawmakers return tickets for the 2027 elections if they back the proposed legislation. EDITOR’S PICKS Trump … Read more
Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), has refuted claims that the federal government intends to impose new taxes or increase existing tax rates for Nigerians. During a session with the Senate Committee on Finance, chaired by Senator Mohammed Sani Musa, Adedeji clarified that the tax reform bills submitted to … Read more
The federal government is planning to raise the Value Added Tax (VAT) from 7.5 percent to 10 percent. EKO HOT BLOG reports that an executive bill to formalize the increase has already been submitted to the National Assembly. According to a Sunday report by The Cable, the proposed legislation seeks to gradually raise the VAT … Read more
No Proposed Increase in VAT Rate Input VAT Credit for Businesses Suggested Basic Goods and Services to be VAT-Exempt Eko Hot Blog reports that, addressing concerns raised by media reports, the Federal Government has clarified its position on Value Added Tax (VAT) reforms. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax … Read more
Federal Government denies proposing VAT rate increase Chairman of Presidential Committee, refutes earlier media reports, stating proposals were misrepresented. Committee proposes a VAT credit for businesses, removal of VAT on essential items. EKO HOT BLOG reports that the Federal Government has denied media reports that it is proposing an increase in the Value Added Tax (VAT) … Read more
Eko Hot Blog reports that Lagos State Governor, Babajide Sanwo-Olu, has called on the Presidential Committee on Fiscal Policy and Tax Reforms to identify and eliminate bottlenecks hindering Lagos’ full revenue potential. The Lagos governor made the charge on Monday when he received Taiwo Oyedele, a tax expert and chairman of the presidential panel. Sanwo-Olu … Read more
Eko Hot Blog reports that President Bola Tinubu has approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms. According to a statement issued by Dele Alake, the Special Adviser to the President (Special Duties, Communications and Strategy), on Friday, the decision was in consonance with Tinubu’s promise to remove all barriers … Read more
FG Slams New Tax On Telephone Calls. This is coming following the recent moves by telecommunication companies to increase the price of their services as a result of an unfavourable operating climate. EDITOR’S PICK 2023 Presidency: Tinubu Opens Up On Health Status 2023: PDP Reveals Delegates Eligible For Primaries CAN Sends Message To IPOB Over … Read more