Tag: Tax
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FG Revises Late Tax Interest Charges As New Rates Begin October 1
By Opeyemi Adelakun The Federal Government has announced a new framework for calculating interest on unpaid taxes, reducing the additional charge on naira-denominated liabilities and setting October 1, 2026, as the commencement date. The Federal Ministry of Finance announced the change on Thursday, September 24, following the issuance of the Nigeria Tax Administration (Interest on…
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FG Reviews Tax Laws As Oyedele Orders Six-Week Reform Assessment
By Opeyemi Adelakun The Federal Government has launched a six-week assessment of the tax laws introduced in 2025, with the exercise aimed at resolving implementation challenges and preparing recommendations for the Finance Bill 2027. Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the review on Thursday in Abuja during the inauguration of a…
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FG to Publish Fuel, FX Subsidy Savings Report Amid Transparency Demands
By Opeyemi Adelakun The Federal Government has announced plans to publish a detailed report outlining how savings from the removal of fuel and foreign exchange subsidies have been utilised, nearly three years after the reforms were introduced. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday at the…
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Pay Your Taxes or Stop Calling Yourself a Citizen — Tinubu Declares
By Paul Joseph President Bola Tinubu has declared that Nigerians who refuse to pay taxes should not regard themselves as citizens unless they are officially exempted by law. Tinubu made the remark on Friday while addressing participants at the Africa CEO Forum in Rwanda, where he highlighted the critical role of taxation in driving national…