The federal government’s plan to introduce a 5 percent surcharge on refined petroleum products — including petrol and diesel — has been met with swift and loud opposition from industry stakeholders, civil society groups, and political figures. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned that the tax could push many … Read more
Obi condemns new 5% tax on fuel and diesel amid rising living costs. Says CNG is no longer affordable, subsidy promises unfulfilled. Urges government to use revenue to reduce hardship, not worsen it. Former Governor of Anambra State and Labour Party presidential candidate, Peter Obi, has criticised the recent introduction of a 5% tax on … Read more
Eko Hot Blog reports that about 107 companies including Dangote and Mikano International are currently enjoying tax exemption from the Federal Government despite its insistence to discontinue the programme and drastic steps to improve its revenue base. It also increased the number of beneficiaries enjoying Pioneer Status under the Industrial Development Income Tax Act by … 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 Lagos State Internal Revenue Service (LIRS) says taxpayers who refuse to file their annual returns by the deadline will face court action. The LIRS Chairman, Ayodele Subair, made the threat on Wednesday when he was a guest on Arise TV. The service had set the deadline for the filing … Read more
Eko Hot Blog reports that The Nigeria Employers’ Consultative Association has cautioned that the expatriate employment levy imposed by the Ministry of Interior could discourage investments in the country. The association criticized the tax, highlighting the necessity for specific regulations to precede the implementation of such levies. Editor’s Pick Only Implementation Of Agreement’ll Stop Nationwide … Read more
EKO HOT BLOG reports that the Federal Government has been urged to increase the tax on sugary sweetened beverages (SSBs) from N10 per litre to N130. The N10 per litre Excise Duty on SSBs was implemented in 2021 under the Finance Act. EDITOR’S PICKS A Nation at Crossroads: Balancing Health and Hardship in Nigeria’s Sachet Alcohol … Read more
EKO HOT BLOG reports that the Federal Capital Territory Internal Revenue Service has issued a call to prominent Abuja-based Nigerian businesswoman, Aisha Achimugu, to comply with her tax obligations by filing her annual returns. This request follows the widespread attention her lavish seven-day 50th birthday celebration received on social media. Annual returns, which constitute a formal … 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
By Otunba T.J Abass Press conferences were not part of her journey; neither TVC nor Arise was available to feature her story; the publisher of Eko Hot Blog was not even born then. She didn’t trend on social media or make news headlines, yet this unschooled woman named Alimot Pelewura engaged in advocacy with a … Read more
EKO HOT BLOG reports that Lagos State Government has shut down thirty-four companies operating in the state over alleged failure to remit the personal income tax of their employees and non-remittance of other taxes worth N356.12 million. The Director of Legal Services at the Lagos State Internal Revenue Service (LIRS), Seyi Alade, confirmed this on … Read more
Iyabo Ojo raises serious allegations against the Lagos State Government, claiming that the recent increase in her tax revenue is an act of targeted persecution. According to Ojo, the move is alleged to be for her public support for Labour Party Presidential candidate. Speaking during a live session on Instagram with her fans, Iyabo Ojo … Read more
Iyabo Ojo fumes as LASG slams her With N18m tax Says they want to reap where they did not sow This comes after LIRS ordered Iyabo Ojo to pay a sum of N18,640,092.00 as personal income tax within a seven-day period. Eko Hot Blog reports that Iyabo Ojo, a Nollywood actress has tackled Lagos State … Read more
President-elect Bola Tinubu and Vice President-elect Kashim Shettima are set to take over the reins of Nigeria on May 29, 2023. Recall that Tinubu and Shettima won the presidential election held across 36 states and the Federal Capital Territory (FCT) on February 25, 2023. The Independent National Electoral Commission declared Tinubu and Shettima president-elect and … Read more
The Lagos government has taken a significant step in its efforts to reform the tax system in the state. The government signed a deal with the federal government to enhance the system’s efficiency. The state governor expressed hopes that the agreement will help to check double taxation and widen the tax base. Eko Hot Blog … Read more
The Supreme Court on Tuesday cleared the way for the imminent handover of former President Donald Trump’s tax returns to a congressional committee after a three-year legal fight. Eko Hot Blog reports that the court, with no noted dissents, rejected Trump’s plea for an order that would have prevented the Treasury Department from giving six … Read more
Former United States President Donald Trump has asked the Supreme Court to put on hold the release of his tax returns by the Internal Revenue Service to a Democratic-led House committee. Eko Hot Blog reports that Trump filed the emergency request on Monday with the high court after a federal appellate court cleared the way last … Read more
OGIRS To Soon Embark On Tax Audit Of Consumption Tax Exercise Consumption Tax was a five percent charge on drinks, foods, and accommodation borne by consumers EDITOR’S PICK: Family Petitions IGP Over CP’s Release Of Suspected Murderers Of Member Lagos Demolishes Distressed Building In Bariga Lagos Reaffirms Position On Renewable Energy By Ademola Orunbon Eko … Read more
OGUN TAX OFFICERS TRAINED ON ELECTRONIC DATA MANAGEMENT SYSTEM capacity building of the officers would bring about optimum performance EDITOR’S PICK Ukraine War: Western Nations Promise To Send More, Better Arms To Ukraine Ukraine War: West Must ‘Prepare For War’, Says Ex-Nato Chief As Putin Unleashes Cruise Missiles In Ukraine Elon Musk Stages $43bn Hostile … Read more
Phone Call Bills To Increase, As FG Imposes N90.49bn Tax This new tax is coming despite moves by telecom companies to increase the price of calls, SMS, and data by 40percent EDITOR’S PICK Many Feared Dead As Explosion Rocks Kano 2023 Presidency: Ohanaeze Threatens Boycott Of Polls Over Zoning Niger-Delta Youth Group Sends Strong Warning … Read more