Digital Skills to Power Nigeria’s Economy CBN Targets $1bn Monthly in Diaspora Financial Authorities to Track Digital Currencies President Bola Tinubu has directed Nigeria’s financial and capital market authorities to monitor the growing use of stablecoins and digital currencies. Speaking at the 18th Annual Banking and Finance Conference in Abuja, the president, represented by Finance … Read more
Presidency clarifies Tinubu did not introduce a new 5% fuel tax. Surcharge dates back to the 2007 FERMA Act, not Tinubu’s reforms. Levy will fund road infrastructure but excludes household energy products. The Presidency has dismissed reports that President Bola Tinubu introduced a new 5% surcharge on fuel products, insisting that the provision has existed … Read more
Senator Mukhail Adetokunbo Abiru, FCA, representing Lagos East Senatorial District, has extended heartfelt Christmas greetings to Christians and all Nigerians, urging reflection on the virtues of love, tolerance, and sacrifice exemplified by Jesus Christ. Ekohotblog reports that in his goodwill message, Senator Abiru emphasized the importance of the season as a time for fostering national … Read more
President Bola Ahmed Tinubu has reiterated that his administration’s tax reforms are permanent and will remain a key part of Nigeria’s economic policy. The President made this assertion on Monday night during a presidential media chat aired by the Nigerian Television Authority (NTA). EDITOR’S PICKS Sanwo-Olu Donates N75M to Support Legionnaires and Families of Fallen … Read more
The National Economic Council (NEC), chaired by Vice President Kashim Shettima, has approved a marginal increase of 0.05% in workers’ emoluments for the Revenue Mobilization Allocation and Fiscal Commission (RMAFC). EDITOR’S PICKS PDP Declares Ethiope East Federal Seat Vacant Following Ibori-Suenu’s Defection to APC Retired Principals Call for Recognition and Better Welfare from Government BREAKING: … Read more
Governor Dauda Lawal of Zamfara State has raised concerns over the proposed tax reform bills currently before the National Assembly, warning that financially weaker states might struggle to survive if the reforms are passed and signed into law by President Bola Tinubu. EDITOR’S PICKS PDP Declares Ethiope East Federal Seat Vacant Following Ibori-Suenu’s Defection to … 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
President Bola Tinubu’s Senior Special Assistant on Media and Publicity, Temitope Ajayi, has outlined how the controversial Tax Reform Bills are designed to enhance states’ revenue generation and economic growth. The bills – the Nigeria Tax Bill 2024, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill – have … 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
Borno State Governor, Babagana Zulum, has revealed that northern governors require more time to consult on President Bola Tinubu’s proposed tax reforms. He explained that this was the reason they advised the President to withdraw the bills for further discussions. Speaking on Channels Television’s Sunday Politics on Sunday, Governor Zulum clarified that the northern governors … Read more
President Bola Tinubu has acknowledged that his administration’s economic reforms have weakened Nigerians’ purchasing power, but he assured that efforts would be made to prioritize social investment programs to assist the most vulnerable members of society. This statement was made by President Tinubu during a courtesy call from the Managing Director of the International Monetary … Read more
The Federal Executive Council (FEC) has given its approval for the Economic Stabilization Bills (ESB), marking a significant step in the government’s Accelerated Stability and Advancement Plan. This decision was reached during the council’s 18th meeting, chaired by President Bola Tinubu at the Aso Chambers of the State House in Abuja. The ESB, based on … 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
Tinubu-led Government plans to bar politicians guilty of tax evasion from running for elective offices. Taiwo Oyedele reveals the government’s intentions at a strategic retreat. Nigerian Investment Promotion Commission reports a rise in companies benefiting from tax exemption under the Pioneer Status Incentive scheme. EKO HOT BLOG reports that the Bola Tinubu-led Government intends to … Read more
Tinubu-led govt hasn’t borrowed from CBN since assuming office. Finance Minister emphasizes commitment to using ‘Ways and Means’ to manage liquidity. Plans for tax reforms to boost revenue and address low tax-to-GDP ratio outlined. EKO HOT BLOG reports that Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said the Bola Tinubu-led Federal … Read more
EKO HOT BLOG reports that President Bola Tinubu has received the much-anticipated ‘Quick Win Report’ from the Committee tasked with enhancing the nation’s revenue generation and business environment. The President’s reception of the report took place in Abuja on Tuesday. EDITOR’S PICKS Fani-Kayode Demands Arrest Of Sheikh Ahmad Gumi Over Controversial Comments On Christians China … Read more
EKO HOT BLOG reports that the administration of President Bola Tinubu is working to reduce taxes from the current 62 to a maximum of nine, to create a more business-friendly environment in the country. Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, disclosed this at the 2023 annual conference of Institute of … Read more
Eko Hot Blog reports that the federal government has revealed that it will, in the coming days, streamline its taxes from 52 to 10 in order to promote efficiency and accountability. The special adviser to the president on revenue, Zacch Adedeji, stated this on Saturday during the virtual TOPAZ 88 second lecture series, which had … 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