2 h. ago Senate Approves Revenue Reform Bills, Rejects 7.5% To 10% VAT Hike Over Economic Concerns

The Nigerian Senate has approved two out of four tax reform bills introduced by President Bola Tinubu’s administration. The bills passed are the Nigeria Revenue Service (Establishment) Bill and the Joint Revenue Board (Establishment) Bill, both aimed at restructuring the country’s tax collection and management systems. This move followed a thorough review of the report […] The post Senate Approves Revenue Reform Bills, Rejects 7.5% To 10% VAT Hike Over Economic Concerns appeared first on Information Nigeria.

Economics

3 h. ago Senate passes two tax reform bills, removes contentious clauses, retains 7.5% VAT

The Senate has passed two of the four Tax Reform Bills transmitted by President Bola Tinubu in October 2024, aimed read more Senate passes two tax reform bills, removes contentious clauses, retains 7.5% VAT

Economics

4 h. ago Senate passes two tax reform bills, updates VAT sharing formula

From Adesuwa Tsan, Abuja The Senate on Wednesday passed two of four proposed Tax Reform Bills: the Nigeria Revenue Service (Establishment) Bill, 2025, repealing the Federal Inland Revenue Service Act, and the Nigeria Tax Administration Bill, aimed at improving revenue assessment, collection, and accountability. The bills, which followed a two-hour closed-door session and the adoption […] The post Senate passes two tax reform bills, updates VAT sharing formula appeared first on The Sun Nigeria.

Economics

10 h. ago What to know about real estate exemptions in FG’s Tax Reform

The federal government’s Tax Reform Bill, if passed into law, will give comfort to the real estate sector and players in the sector. read more What to know about real estate exemptions in FG’s Tax Reform

Politics

45 h. ago Tax bills, constitution top agenda as N’Assembly resumes plenary today

Nigeria’s National Assembly will resume its plenary today amid mounting public expectations for swift and decisive legislative action on pressing read more Tax bills, constitution top agenda as N’Assembly resumes plenary today

Economics

52 h. ago Tax Reform, Rivers Crisis Top Agenda As Senate Resumes Tuesday

The Nigerian Senate will resume plenary on Tuesday, May 6, 2025, with the consideration of the 2024 Tax Reform Bills expected to top its legislative agenda. The bills, aimed at overhauling the country’s tax system and boosting revenue generation are considered crucial for improving fiscal sustainability and delivering development projects across all levels of government. […]

Politics

3 d. ago CBN records N38.8bn profit in 2024, recovers from N1.15trn loss

From Adanna Nnamani, Abuja The Central Bank of Nigeria (CBN) has released its 2024 audited financial statements, reporting a profit after tax of N38.8 billion, a significant recovery from the N1.15 trillion loss in 2023. The turnaround was driven by a 225% surge in net unrealised foreign exchange revaluation gains, reaching N11.28 trillion, boosting total […] The post CBN records N38.8bn profit in 2024, recovers from N1.15trn loss appeared first on The Sun Nigeria.

Politics

5 d. ago CBN recovers from loss reports  N38.8 billion profit  in 2024

The CBN reported a profit of N38.8 billion after tax in the full year of 2024 from its N1.15 trillion loss recorded in the 2023 financial yr. read more CBN recovers from loss reports  N38.8 billion profit  in 2024

Economics

5 d. ago Zero VAT On Food, Healthcare, Education In New Tax Bills – Taiwo Oyedele

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Dr. Taiwo Oyedele, has reiterated that the newly proposed tax reform bills are structured to deliver tangible economic relief to Nigerian workers. In a statement issued on Friday, Oyedele emphasised that the reforms aim to increase the disposable income of citizens and reduce […] The post Zero VAT On Food, Healthcare, Education In New Tax Bills – Taiwo Oyedele appeared first on Information Nigeria.

Economics

5 d. ago 4 banks post 679.37 bn profit in Q1 2025, customers react over charges

Four banks have posted N979.77 billion as Profit Before Tax (PBT) for the first quarter of 2025 ended March 31. read more 4 banks post 679.37 bn profit in Q1 2025, customers react over charges -NGX

Economics

5 d. ago Unilever Nigeria doubles profit, bolsters cash flow in Q1 amid rising revenue

Unilever Nigeria Plc delivered a robust first-quarter performance in 2025, doubling its profit after tax to N5.55 billion from N3.36 read more Unilever Nigeria doubles profit, bolsters cash flow in Q1 amid rising revenue

Economics

6 d. ago MTNN’s Net Profits Hit N133.7bn Amidst Reduction In Forex Losses In Q1

MTN Nigeria Communications (MTNN) Plc recorded a strong recovery in its bottom line supported by the substantial reduction in forex losses, resulting in a profit after tax of N133.7 billion in the first quarter (Q1) ended March 31, 2025. The telecom firm’ Q1 results released on the Nigerian Exchange showed that MTN Nigeria delivered a […]

Politics

1 week ago Tax Reform Bill To Exempt Real Estate Sector, Construction Firms From VAT

The federal government has declared that the Tax Reform Bill, once enacted, will exempt real estate transactions from Value Added Tax (VAT), a move aimed at reducing the cost of building materials and housing. This reform is expected to ease the financial burden on low-income earners and stimulate growth in the construction and real estate […]

Economics

1 week ago How tax reforms bill will make housing affordable – Presidency

The Presidency says the Tax Reforms Bill, when passed, will make housing more affordable and available to Nigerians by reducing read more How tax reforms bill will make housing affordable – Presidency

Economics

1 week ago CITN backs proposed tax agents in economic stabilisation bill

The Chartered Institute of Taxation of Nigeria (CITN) has endorsed a key provision in the Economic Stabilisation Bill whick seeks read more CITN backs proposed tax agents in economic stabilisation bill

Economics

2 w. ago NNDC announces  ₦3.24 billion profit at AGM, commends Northern governors for repositioning company

From Noah Ebije, Kaduna At the 56th Annual General Meeting (AGM) of the New Nigeria Development Company Limited (NNDC) on Wednesday, Chairman of the Board of Directors, Alhaji Lamis Shehu Dikko, announced a profit before tax of ₦3.24 billion for the financial year ending 31 March 2024. Presenting the financial report, Dikko stated, “This improved […] The post NNDC announces  ₦3.24 billion profit at AGM, commends Northern governors for repositioning company appeared first on The Sun Nigeria.

Economics

2 w. ago The Nigeria Tax Bill and Priority Sectors: A path to sustainable growth?

Introduction The fourth quarter of 2024 ushered in the fastest economic growth observed in three years for Nigeria’s economy. The read more The Nigeria Tax Bill and Priority Sectors: A path to sustainable growth?

Economics

3 w. ago How tax reforms debates became blessing in disguise – Oyedele

Urges spokespersons to embrace knowledge, calm, and national interest at NIPR Summit From Juliana Taiwo-Obalonye, Abuja The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has disclosed how the debates that trailed the four sweeping tax reform bills introduced by President Bola Tinubu’s administration in October 2024, turned out to be […] The post How tax reforms debates became blessing in disguise – Oyedele appeared first on The Sun Nigeria.

Politics

last month Tax Reform Bills: Extricating Nigeria From Economic Cesspit – Atoyebi

  The Technical Assistant on Broadcast Media to the Executive Chairman of the Federal Inland Revenue Service (FIRS), Aderonke Atoyebi has stated that the federal government’s tax reform bills are extricating Nigeria from economic inefficiencies and paving the way for economic growth. Atoyebi noted that when President Bola Ahmed Tinubu assumed office in May 2023, […]

Economics