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 […]
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 […]
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 […]
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 […]
As sub-national governments intensify their drive for improved revenues, Lagos State collected N205,163,386,767.06, representing about 29.69 percent of the IGR collected by states internally in half year 2019. Despite the state’s huge revenue collections during the six-month period under review, Zamfara State topped the IGR table by ranking with total N7,210,062,254.23 generated, improving its IGR […]
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 […]
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 […]
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 […]
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 […]
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 […]