FG, States, LGs Share N2.43tn September Revenue
By Oluwakemi Kindness The Federal Government, states and local governments have shared N2.428 trillion in revenue generated in September 2026, as statutory revenue increased while Value Added Tax (VAT) receipts declined. The Office of the Accountant-General of the Federation disclosed this in a statement on Thursday following the October meeting of the Federation Account Allocation […]
Customs Clarifies Vehicles Eligible for Duty, VAT Waivers
By Oluwakemi Kindness The Nigeria Customs Service has clarified the categories of clean-energy vehicles and equipment eligible for Import Duty and Value Added Tax exemptions under the Federal Government’s Presidential Gas for Growth Initiative. Under the new guidelines, on friday 100 per cent CNG vehicles, 100 per cent LPG vehicles and pure electric vehicles will […]
Reps PAC Recovers ₦521m Unremitted VAT From CBN
By Oluwakemi Kindness The House of Representatives Public Accounts Committee (PAC) says it has recovered ₦521.8 million in unremitted Value Added Tax (VAT) from the Central Bank of Nigeria (CBN) as part of an ongoing probe into revenue leakages linked to the Remita platform. The committee say the recovered sum, amounting to ₦521,765,134.17, represents VAT […]
FG, States, LGs Share N2.036tn March Revenue
By Oluwakemi Kindness The Federal Government, state governments, and local government councils have shared a total of N2.036 trillion as Federation Account Allocation Committee (FAAC) revenue for March 2026. The distribution followed the April FAAC meeting held in Abuja, according to a communiqué issued by Bawa Mokwa, Director of Press at the Office of the […]
WATAF Pushes Digital VAT Reform Across Region
By Oluwakemi Kindness The West African Tax Administration Forum (WATAF) has called for urgent digital reform of Value Added Tax (VAT) systems across West Africa, warning that inefficiencies are undermining revenue collection and slowing economic growth. The call was made at a regional forum held on April 21, 2026, in Abidjan, organised by the African […]
VAT on Bank Charges Not New – NRS
By Oluwakemi Kindness The Nigeria Revenue Service (NRS) says Value-Added Tax (VAT) on bank charges is not a new policy and was not introduced by the Nigeria Tax Act. In a statement issued on Thursday, the Service describes claims of a fresh VAT burden on banking transactions as inaccurate. It clarifies that VAT has long […]