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Nigeria Targets 80% Revenue Accruals From Non-Oil Sector – Fowler

The Executive Chairman, Federal Inland Revenue Service (FIRS) Mr.Tunde Fowler, has projected that at least 80 percent of federally generated revenues would accrue from the non-oil sector of the economy in the next three years. Fowler, who made the forecast at the Nigeria-Canada Investment Summit in Abuja, disclosed that the non-oil sector’s contribution to the Nigerian […]

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Lawan Accuses Revenue Agencies Of Non-Remittance, As Buhari Orders Cost Reduction

The President of the Senate, Senator Ahmad Lawan, has accused most revenue generating agencies in the country of failing to remit their funds  to the Federation Account as and when due, warning that such fiscal abuse will no longer be tolerated. Lawan who accused the revenue agencies of some lapses while speaking at the third […]

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D Arewa Youth Forum Lauds Fowler On FIRS’ Achievements

The Arewa Youth Forum (AYF) on Monday commended the Executive Chairman of the Federal Inland Revenue Service (FIRS), Babatunde Fowler, for what they called “unprecedented record in the history of tax administration in FIRS and in Nigeria”. Members of the National Executive Council of the group, who paid a courtesy visit to FIRS headquarters in […]

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Proposed PIB Won’t Frustrate IOCs’ Operations In Nigeria – Lawan

President of the Senate, Ahmad Lawan, on Monday said that the Petroleum Industry Bill (PIB) to be introduced by the National Assembly for consideration next year was not aimed at frustrating the operations of International Oil Companies (IOCs) in Nigeria. Lawan made this known when he hosted the French Ambassador to Nigeria, Jerome Pasquier, at […]

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Court Upholds Consumption Tax In Lagos, Restricts VAT Application

A Federal High Court has ruled that Value Added Tax (VAT) do not cover the field of consumption tax chargeable by states as the Constitution did not vest powers on the Federal Government to legislate over consumption tax on individuals or goods and services consumed in hotels, restaurants and event centres. With the ruling, the […]

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Revenue Constraints Hamper Attainment Of ERGP Targets – CDD

The Centre for Democracy and Development (CDD), one of Nigeria’s leading civil advocacy group on good governance, has identified revenue shortfalls as one of the constraints that undermined the Federal Government’s efforts to meet the broad economic development targets as outlined it the Economic Recovery and Growth Plan (ERGP). The civil society group made this […]

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FIRS Rakes In N4Trn In 9 Months, Seeks Jail Term For Tax Evaders

The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has told federal legislators that the tax collection agency generated about N4.012 trillion from January-September this year, representing 60.77 percent of the N8.8 trillion target this year. Fowler made the disclosure when he appeared before the Senate Committee on Appropriations that the […]

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Immigration Service Remits Over N11.682Bn, $22,972 In 8 Months – CG

The Comptroller General (CG)of Nigeria Immigration Service (NIS), Muhammad Babandede, disclosed on Thursday that the Service had remitted the sums of N11,682,009,761 and $22,972.38 into the Federation Account as revenues collected from January to August this year. The Comptroller General made this disclosure at the Service’s annual workshop with the theme ‘Migration Management in a […]

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FG’s Bond Auctions In October Oversubscribed – DMO

The Debt Management Office (DMO) on Wednesday stated that Federal Government’s Bond Auctions in October were over-subscribed, indicating growing investor confidence in the nation’s securities market. The Office, in a statement indicated that it offered three instruments of five-year, 10-year and 30-year bonds with a total value of N150 billion which were well received by […]