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  • Govt slashes revenue deductions by NNPCL, FIRS, Customs, others

    Govt slashes revenue deductions by NNPCL, FIRS, Customs, others

    A review of deductions and revenue retention by major revenue-generating agencies has been directed by President Bola Ahmed Tinubu.

    The purpose, according to the Minister of   Finance and Coordinating Minister of the Economy, Mr Wale Edun, is to boost public savings, check profligacy, and unlock resources for economic growth.

    Revenue-generating agencies covered by the order are the Nigerian National Petroleum Company Limited (NNPCL), Federal Inland Revenue Service (FIRS), Nigeria Customs Service(NCS), Nigerian Upstream Petroleum Regulatory Commission (NUPRC)  and  Nigerian Maritime Administration and Safety Agency (NIMASA).

     The review order was given by President Tinubu at yesterday’s Federal Executive Council (FEC) meeting in Abuja.

    According to Edun, the President specifically called for a reassessment of NNPC’s 30 per cent management fee and 30 per cent frontier exploration deduction under the Petroleum Industry Act (PIA).

    The   Economic Management Team, chaired by the Finance Minister,  is to present actionable recommendations to the FEC on the best way forward.

    The President said the directive was part of efforts to sustain reforms that have dismantled economic distortions, restored policy credibility, enhanced resilience, and bolstered investor confidence.

    According to him, these reforms have created a transparent, competitive business environment attractive to local and foreign investors in critical sectors such as infrastructure, oil and gas, health, and manufacturing.

    Reaffirming the Renewed Hope Agenda, Tinubu said Nigeria’s goal of a $1 trillion economy by 2030 requires growth of at least 7% annually from 2027. He described the target as “not just economic, but a moral imperative ” in tackling poverty.

    He cited the July 2025 IMF(International Monetary Fund) Article IV report, which endorsed Nigeria’s economic trajectory and the need for investment-led growth.

    Highlighting grassroots empowerment, the President pointed to the Renewed Hope Ward Development Programme — a ward-based initiative covering all 8,809 wards across the country — designed to lift economically active citizens through micro-level poverty reduction strategies. 

    Tinubu noted that public investment accounts for just five per cent of the nation’s Gross Domestic Product( GDP) due to low savings.

    He also stressed that optimising “every available naira” is vital, especially under current global liquidity constraints.

    Edun said macroeconomic indicators were improving, with a more stable exchange rate, easing inflation, rising revenues and an acceptable debt-to-GDP ratio.

    Read Also: NNPCL urges Africa to embrace tech in energy transition

      Edun also explained that he presented two memoranda to FEC— a $125 million Islamic Development Bank financing for infrastructure in Abia State. The fund will be spent on 35 kilometres of roads in Umuahia, 126 kilometres in Aba,and N4 trillion for the refinancing of outstanding electricity sector obligations.

    N13bn  for ROW compensation, $34m for  transformers 

    FEC also approved four major proposals from the Ministry of Power in a renewed drive to reform and strengthen the national grid and meet rising electricity demand nationwide.

      Power Minister Adebayo Adelabu said the first approval is the release of N13 billion for compensation on right-of-way acquisitions under the Lagos Industrial Transmission Project, funded through a $238 million development loan from the Japan International Cooperation Agency (JICA).

    The project is for boosting power supply to key industrial clusters in Lagos, which accounts for a large share of the nation’s manufacturing output.

    “This funding covers compensation to property owners and communities affected by the transmission lines’ route. Once completed, the Lagos Industrial Transmission Project will ensure that our industrial estates have the dedicated, stable power they need to drive economic growth and create jobs,” Adelabu explained.

    The other three approvals, according to him, centred on the procurement and installation of high-capacity transformers to replace weak, overloaded and obsolete units on the national grid.

    The equipment procurement is valued at $34 million, with an additional N5.2 billion for associated costs.

    The breakdown includes: two units of 150MVA 330/132kV transformers; three units of 100MVA 132/33kV transformers; five units of 60MVA 132/33kV transformers; and two units of 30MVA 132/33kV transformers.

    “These transformers will be deployed strategically across the grid to relieve overloaded facilities, improve voltage stability, and accommodate the increased transmission capacity we are building,” the minister said.

    Adelabu described Nigeria’s national grid as an ageing system, much of which has been in operation for over 50 years.  

    He said: “Many of the transformers, cables and related components are weak and prone to failure. Regular maintenance and timely replacement are essential if we are to achieve a stable, reliable and effective grid that meets the needs of households, offices, small businesses and industries.”

    MDAs get next month deadline 

     Ministries, Departments and Agencies (MDAs) still processing contracts under  last year’s  Appropriation  yesterday got end of  next month’s deadline  to complete their procurement.

    The order was given via a directive by the President afer receiving the brief from Director-General of the Bureau of Public Procurement (BPP), Adebowale Adedokun at yesterday’s FEC meeting.

    According to the directive, which was presented to reporters at the State House, Abuja by the Minister of Information and National Orientation, Mohammed Idris, the BPP said over 70 ministries, departments and agencies (MDAs) are yet to conclude procurement for 2024 projects, even though the budget year should have ended last December.

    While the law was extended to allow for full implementation, the bureau noted that it is now more than 20 months since its passage, warning that  delays could result in avoidable liabilities for government.

    The brief recommended that President Tinubu obtain a full account of all projects awarded by ministers and their ministries, with ministries and  agencies directed to submit lists of projects for both the 2024 and 2025 fiscal years.

    This aligns with the Secretary to the Government of the Federation’s circular on project reporting.

    Reaffirming the administration’s Nigeria First policy, the BPP urged MDAs to give priority to locally made goods and services in project execution, provided they meet international standards and are certified by relevant government authorities.

    The bureau, working alongside the Central Results Delivery Coordination Unit, will monitor compliance and forward reports to the Presidency for  action.

    On the 2025 budget cycle, the BPP advised that a significant share of projects be procured through open competitive bidding to stimulate job creation and reduce poverty.

    It also recommended that the BPP Director-General be included in all bilateral loan negotiations for infrastructure projects, ensuring professional oversight of procurement decisions and cost assessments.

    The bureau  expressed concern over persistent non-compliance with the Public Procurement Act by some government-owned companies and enterprises, despite the Finance Act 2020 mandating adherence.

    It warned that such disregard has fostered financial recklessness in certain entities and called for strict enforcement to bring all procurement activities in line with the law.

    Also yesterday,  the FEC approved the building of modern bus terminals in each of the nation’s six geo-political zones at  ₦142,028,576,008.17.

    Minister of Transportation, Senator Sa’idu Ahmed Alkali, broke the news  after the FEC meeting.

    He said  the contract had  been awarded to Messrs Planet Project Limited.

    The terminals will be sited in Abeokuta (Southwest), Gombe (Northeast), Kano (Northwest), Lokoja (Northcentral), Onitsha (Southeast), and Ewu in Edo State (Southsouth).

    Senator Alkali described the project as the Federal Government’s first direct intervention in road transport infrastructure beyond road construction.

    He noted that the locations were selected for their economic viability.

    The minister said the absence of purpose-built bus terminals to serve millions of Nigerian commuters had contributed to increased crime, road traffic accidents, and the proliferation of arms and ammunition on the country’s highways.

    “In spite of the significance of road transportation in Nigeria, there are no bus terminals that address the needs of millions of commuters. This has resulted in increased crime, road traffic accidents, and the spread of arms on our highways”, Alkali said.

    The minister explained that the initiative, conceived by the Ministry of Transportation, is aimed at improving road safety, enhancing passenger comfort, and stimulating economic activities.

    He added that the proposal was brought before President Tinubu and the FEC for approval after a thorough assessment of its potential impact on national transportation and security.

    Fed Govt reviews Kano–Katsina Road contracts, moves to replace Carter Bridge

    A Major review  of some road contracts including  the 152-kilometre Kano–Katsina highway and the Lagos’s ageing Carter Bridge was yesterday approved  by the  Federal Executive Council (FEC).

    The meeting was  presided over by President Bola Tinubu.

    Minister of Works, David Umahi, broke the news to  reporters after the meeting at the State House, Abuja.

    He said that both sections of the Kano–Katsina Road — awarded by  previous administrations — have been significantly adjusted to reflect present-day economic realities.

    The first section, 74.1km long and initially awarded in 2013 for N14 billion before being reviewed to N24 billion, has now been revalued at N68 billion, with N6 billion provided in the 2024 budget and N34 billion in 2025.

    The second section, 79.5km, first awarded in 2019 for N29 billion and later adjusted to N46 billion, has been revised to N66.115 billion, with N80 billion allocated between 2024 and 2025.

    Umahi also announced progress on the 30.2 km Iyin–Ilawe Road in Ekiti State. The  project has been  split into three segments.

    The first 10km section is ongoing. Sections Two and Three —  10.1km each — have been awarded at N16.777 billion and N17.275 billion .

    On bridges, the minister said that urgent technical assessments on Carter Bridge and the Third Mainland Bridge in Lagos revealed severe underwater structural deterioration, largely from sand erosion caused by illegal mining.

    Julius Berger, contracted for underwater repairs, recommended Carter Bridge’s immediate closure and replacement.

    It estimated about N359 billion for a new structure, with discussions on funding  already opened with Dutch Bank.

    Similar issues were discovered  on the Third Mainland Bridge. It is projected to cost N3.6 trillion.

    The Council  has approved the engagement of at least seven specialist contractors under EPC+F arrangements for detailed investigation, design, and bidding for either rehabilitation or total reconstruction of both bridges.

    The Council also authorised advertisements for Public-Private Partnership (PPP) bids.

    Beyond Lagos, Umahi said FEC approved interventions on multiple critical bridge failures nationwide, including the Jalingo Bridge in Taraba, the burnt Ido Bridge, the Keffi Flyover, Mokwa Bridge in Niger, collapsed bridges on the East–West Road in Delta and Bayelsa, the Lagos–Ibadan corridor, and the near-split Itoikin–Ikorodu Road.

    Emergency works on these structures will be consolidated and forwarded to the Minister of Finance for presidential approval.

    He noted that ongoing  works also include Jimeta Bridge in Adamawa, Mutamame Bridge in Kogi, Jebba Bridge in Niger, Gashua Bridge in Yobe, Eko and Marine bridges in Lagos, Bibi Bridge in Taraba, Artisan Bridge in Enugu, Apowa Bridge in Ebonyi, Opobo Bridge in Rivers, Baro Bridge in Niger, and Buruku Bridge in Benue.

    “We are tackling both long-standing structural problems and sudden emergencies to safeguard lives and the economy,” Umahi stated.

  • FIRS meets 2025 oil and gas revenue target, credits peace in Niger Delta

    FIRS meets 2025 oil and gas revenue target, credits peace in Niger Delta

    For the first time in several years, the Federal Inland Revenue Service (FIRS) has achieved its oil and gas sector revenue target for 2025, a milestone the agency attributes to sustained peace in the Niger Delta.

    A statement from the FIRS signed by Dare Adekanmbi Special Adviser on Media said the FIRS Chairman, Dr. Zacch Adedeji, made this disclosure on Wednesday when the Chief of Defence Staff (CDS), General Christopher Musa, led a team of senior military officers to the Revenue House in Abuja.

    Adedeji said the improved security situation in oil-producing areas had boosted production, resulting in greater profitability for companies in the sector and higher tax revenue for the federation.

    “The coordinating director of the Large Tax Group made a presentation at our management meeting today on tax collection to date, and I am glad to say that, for the first time in a long while, we met our oil and gas target,” Adedeji said. 

    “This is actually as a result of the peace that has been maintained where oil and gas facilities are located. Production is happening, and companies are making more profit from it.”

    He commended the Armed Forces and other security agencies for their contribution to maintaining stability, noting that the success aligns with President Bola Tinubu’s commitment to “taxing prosperity and not poverty.”

    “Prosperity can only be achieved in an atmosphere of peace. The Armed Forces are critical stakeholders and central to sustaining peace in the country,” he said.

    The FIRS chairman also highlighted the president’s commitment to the welfare of security personnel, citing a recent approval for the construction of 1,550 housing units for members of the armed forces. “This shows the President appreciates what you are doing for the country. You are also critical to our success,” he told the CDS.

    Adedeji pledged the agency’s support for the upcoming African Chiefs of Defence Staff Conference, which Nigeria will host in Abuja. “We will always be open to collaborate in order to sustain peace, increase prosperity, and develop our nation. On behalf of the President and all of us at FIRS, we thank you for the good job you are doing in maintaining peace and safety for all,” he said.

    In his remarks, General Musa praised the FIRS leadership for significantly improving revenue collection, which he said directly supports the operations of the armed forces.

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    “Since Dr. Adedeji assumed office, we have seen remarkable changes. For us in the Armed Forces, we are nothing without funds. To even buy the good big guns we are carrying will be difficult without the funding,” Musa said. “Over the years, you have made our job a lot easier, although we keep asking for more. We have seen that revenue has increased, almost tenfold, and we can see new initiatives making a positive impact. Your boldness has encouraged us in what we are doing.”

    The CDS also used the occasion to promote the maiden African Chiefs of Defence Staff Conference, scheduled for 25–27 August 2025 in Abuja.

    “This is an avenue to showcase Nigeria to Africa and the world,” Musa explained. “We have attended such events in other countries, but we believe it’s time for Africa to sit together as brothers and sisters to discuss our problems and provide African solutions.

    Most of these countries that claim they want to support us often contribute to the problems we are trying to solve. That is why it is important to have this conversation among ourselves.”

  • Tinubu orders review of revenue deductions by key agencies

    Tinubu orders review of revenue deductions by key agencies

    …targets 7% growth by 2027 to tackle poverty

    …FG, IDB sign $125m infrastructure deal for Abia

    President Bola Ahmed Tinubu has directed a sweeping review of deductions and revenue retention practices by Nigeria’s major revenue-generating agencies, in a bid to boost public savings, improve spending efficiency, and unlock resources for growth.

    The order, issued at Wednesday’s Federal Executive Council (FEC) meeting in Abuja, covers the Federal Inland Revenue Service (FIRS), Nigeria Customs Service, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Maritime Administration and Safety Agency (NIMASA), and the Nigerian National Petroleum Company Limited (NNPC).

    The President’s directive was disclosed to journalists by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.

    According to Edun, President Tinubu specifically called for a reassessment of NNPC’s 30% management fee and 30% frontier exploration deduction under the Petroleum Industry Act (PIA).

    He tasked the Economic Management Team, chaired by Edun, to present actionable recommendations to FEC on the optimal way forward.

    The President said the directive was part of efforts to sustain reforms that have dismantled economic distortions, restored policy credibility, enhanced resilience, and bolstered investor confidence.

    According to him, these reforms have created a transparent, competitive business environment attractive to local and foreign investors in critical sectors such as infrastructure, oil and gas, health, and manufacturing.

    Reaffirming the Renewed Hope Agenda, Tinubu said Nigeria’s goal of a $1 trillion economy by 2030 requires growth of at least 7% annually from 2027 — a target he described as “not just economic, but a moral imperative,” as higher growth is the surest path to tackling poverty.

    He cited the July 2025 IMF Article IV report, which he said endorsed Nigeria’s economic trajectory and the need for investment-led growth.

    Highlighting grassroots empowerment, the President pointed to the Renewed Hope Ward Development Programme — a ward-based initiative covering all 8,809 wards across the country — designed to lift economically active citizens through micro-level poverty reduction strategies in collaboration with states, local governments, and private partners.

    Tinubu noted that public investment accounts for just 5% of GDP due to low savings, stressing that optimising “every available naira” is vital, especially under current global liquidity constraints.

    Read Also: Tinubu pledges to make steel sector Nigeria’s industrial engine

    Edun said macroeconomic indicators were improving, with a more stable exchange rate, easing inflation, rising revenues, and debt-to-GDP ratios now within range.

    He described savings as the foundation of investment and said the President’s directive aims to quickly raise public sector savings by reviewing deductions and retention practices.

    Meanwhile, Edun said he presented two memoranda to Council — a $125 million Islamic Development Bank financing for infrastructure in Abia State, covering 35 kilometres of roads in Umuahia and 126 kilometres in Aba; and a plan to refinance ₦4 trillion in outstanding electricity sector obligations.

    The electricity debt resolution will be executed in phases, with the first phase expected within three to four weeks under the coordination of the Debt Management Office and other agencies.

  • National Single Window for operation in March 2026

    National Single Window for operation in March 2026

    • • FIRS, Customs, others meet to fast-track scheme

    The Executive Chairman, Federal Inland Revenue Service (FIRS), Dr. Zach Adedeji, the Comptroller-General of Customs (NCS), Bashir Adewale Adeniyi and  the Director, National Single Window (NSW) Project, Tola Fakolade, alongside other senior officials, rose from a strategy session yesterdays to streamline modalities preparatory to the flag-off of the NSW scheme in March, 2026.

    The meeting which was held at the Nigerian Customs Headquarters, in Abuja, was convened to step up collaboration on the NSW project, a landmark trade facilitation initiative expected to transform Nigeria’s import and export processes, improve revenue collection and enhance the country’s competitiveness in global trade. The high-level meeting by top officials from both agencies reviewed ongoing preparations for the project’s implementation and agreed on practical steps to accelerate system integration ahead of its planned take-off in the first quarter of next year.

    The NSW, launched by President Bola Tinubu in April 2024, is a federal initiative designed to streamline and automate trade procedures by providing a centralised digital platform for all trade-related transactions. By integrating systems across government agencies, the platform will simplify documentation, enhance transparency, reduce clearance times and cut costs for businesses.

    Adeniyi said the essence of the meeting was to discuss and exchange ideas in the course of preparations leading to the eventual launch of the scheme next year. “We are here to exchange ideas and have open discussions that will help our preparations for the NWS. This project is important to Mr. President. Since the beginning of this administration, it has been listed among the key policies to create an environment that facilitates trade and makes the Nigerian economy more competitive,” Adeniyi, said, adding that the overall objective was to develop a modern trade ecosystem through the integration of advanced technology into clearance and compliance processes, ultimately fostering efficiency and reducing bottlenecks in the movement of goods.

     Adedeji, on his part, agreed that the collaboration was timely and critical to meeting the project’s tight deadlines.

    In his words: “We are at the stage where we all need what is required for what is to be done, and the help that is required to get the job done. We want to synergise with your agency. It was high time we got involved, because now, Mr. President has given us till the first quarter of 2026. I am here to support the CG and the Nigerian Customs Service to achieve the launching of the NSW and to seek further collaboration ahead of the launching of the first phase in March, 2026.”

    Read Also: EFCC probes traveller over undeclared $59,000 at Lagos Airport

    He said the integration of revenue-collection systems between FIRS and Customs would not only improve efficiency, but also significantly boost the country’s non-oil revenue base.

    While updating the other stakeholders, NSW Director, Tola Fakolade said the project has progressed beyond preliminary assessments into the critical development and integration phase after a year of requirement analysis.

    As he puts it: “The NSW serves as the central hub, linking all participating agencies, including Customs, into one unified platform. Achieving seamless integration at this stage is essential for meeting the Q1 2026 operational target, and we are here to ensure the necessary support is in place to stay on track,” saying the system’s success would depend on strong inter-agency cooperation and the timely alignment of technical infrastructure.

    Fakolade said when fully operational, the NSW is expected to deliver far-reaching benefits to government, businesses, and consumers, including  importers and exporters who will enjoy faster cargo clearance times at reduced operational costs, and also resulting in a sharp decline in bureaucratic bottlenecks, allowing for competition and more efficiency in both domestic and international markets.

    He said from the government perspective, the platform will tighten controls, reduce revenue leakages and improve compliance with tax and Customs regulations. These gains are projected to significantly increase national revenue, freeing up funds for infrastructure, social services, and other development priorities, he stated.

    Stressing the benefits of the NSW, Fakolade said consumers will benefit through lower prices and faster access to goods, as supply chains become more efficient, adding that shorter clearance times mean products will reach the market more quickly, reducing storage costs thus minimising delays.

    He said the NSW is anticipated to improve Nigeria’s standing in global trade rankings, making the country a more attractive destination for investment, saying by aligning its trade processes with international best practices, Nigeria aims to position itself as a competitive hub for commerce in Africa.

    The FIRS and NCS reaffirmed their commitment to achieving the project’s objectives within the set timeframe, with the officials agreeing to maintain close coordination, share technical expertise and ensuring that all integration milestones are met ahead of the March 2026 target.

  • Zacch Adedeji on a mission with people-centric reforms

    Zacch Adedeji on a mission with people-centric reforms

    The Federal Inland Revenue Service (FIRS) is becoming more than a government agency. It is not today that we have been saying this, and it will not stop today or anytime soon. It is now being recognised as a partner in national development, driven by reforms that place people at the center and deliver measurable results.

    Over the past months, the leadership of Dr. Zacch Adedeji, Executive Chairman, FIRS, has introduced a series of people-focused changes that have shown a tangible impact on our revenue system and the economy at large. 

    His work has been based on practical reforms in tax law, improved welfare for staff and citizens, the adoption of technology to streamline processes, stronger teamwork across departments, and a leadership style grounded in clarity, accountability, and measurable outcomes.

    Just this August, the agency launched an electronic invoicing system for companies with an annual turnover of five billion naira or more. It went live on the first day of the month, and by the second week, about a thousand companies had already joined. Organizations like MTN, Huawei, and IHS are on board. Others have until November 1 to comply. The process is firm, but the rollout has been managed carefully, giving companies enough time to adjust without disruption.

    The effects are already showing. Afri Invoice, a local Nigerian company that provides e-invoicing solutions, has created 150 new jobs in seven states to meet the demand. It may seem small, but it serves as proof that one effective policy can open the door to more jobs and economic growth.

    Not long after, on August 7, FIRS held its first Research Day. It was not an event for long talks but a day of action and openness. Three (3) main resources were made public. The first was the Tax Revenue Statistical Bulletin, containing more than fifty years of tax data from 1970 to 2022. The second was the official Research Policy, which sets out a framework for conducting transparent and high-quality studies. 

    The third was the latest volume of the FIRS Journal of Tax Studies, now available online. These materials are open to researchers, journalists, students, policymakers, and anyone who wants to understand our tax history and the direction we are headed.

    Step by step, these reforms show that when leadership is focused on people and guided by data, institutions can transform. The work being done at FIRS today is building not only better systems but also trust between the government and the people it serves.

    Let’s not forget that under the Tax Boss, tax education and public engagement have also taken a new shape. FIRS has stepped up its outreach to small and medium enterprises, offering guidance on compliance and breaking down processes that once felt complicated and far removed from the everyday business owner. 

    The agency has also strengthened partnerships with state revenue services, ensuring that both federal and state systems work together rather than compete.

    Capacity building for staff has been prioritised, with training programs designed to give them the skills and tools to meet modern tax administration demands. In addition, reforms in dispute resolution have made it faster and easier for taxpayers to settle issues without lengthy court battles, promoting a more cooperative relationship between the agency and the general public. Digital platforms have been improved, meaning that many taxpayers can now register, file, and pay from the comfort of their offices or homes.

    Sometimes, you stop and wonder how one person can have so much vision while truly keeping the needs of people in mind. Dr. Zacch understands difficult challenges but never loses sight of those who live them every day. His efforts are effective, making changes that touch many lives. 

    The progress seen today comes from thoughtful decisions and a commitment to serve others. In a country where many lead for themselves, he leads for the people. When you think about leadership that combines critical thinking with care, the answer is not far-fetched. It can only be him.

    Arabinrin Aderonke Atoyebi is the technical assistant on broadcast media to the executive chairman of the Federal Inland Revenue Service Contact@arabinrinaderonke.com

  • FIRS’ e-invoicing system hits N5tr in early surge

    FIRS’ e-invoicing system hits N5tr in early surge

    • 20% of eligible firm enrolled in 14 days

    The Federal Inland Revenue Service (FIRS) says no fewer than 1,000 companies have begun integrating with its newly launched electronic invoicing solution (e-invoicing) barely two weeks after it went live.

    According to a statement by Dare Adekanmbi, Special Adviser on Media to FIRS Chairman Zacch Adedeji, the figure represents 20 per cent of over 5,000 eligible large taxpayers — firms with annual turnover of N5 billion and above.

    The e-invoicing platform, which commenced operations on August 1 after a pilot phase that started in November 2024, is designed to transform tax compliance and payment processes nationwide.

    Adekanmbi explained that the initiative, also known as the Merchant-Buyer Model, will be introduced in phases, beginning with large taxpayers before extending to medium-sized and emerging companies. “Large taxpayers, which are companies with annual turnover of N5 billion and more, are expected to be the first to be onboarded on the platform,” he said.

    The FIRS has set November 1, 2025, as the final deadline for all large companies to complete their onboarding and integration with its Merchant-Buyer System (MBS) platform.

    MTN Nigeria became the first firm to transmit live e-invoices to the tax authority, marking the formal commencement of the regime. Huawei Nigeria and IHS Nigeria have completed test transmissions and are expected to go live shortly.

    To facilitate smooth adoption, the FIRS has partnered with the National Information Technology Development Agency (NITDA) to incorporate service providers into the ecosystem. These providers, serving as both System Integrators and Access Point Providers, will assist companies with onboarding, integration, and invoice transmission.

    Read Also: 1,000 firms embrace FIRS’ E-Invoicing in two weeks

    Adekanmbi noted that the Service “commends all large taxpayers, tax consultants, and service providers for their cooperation and commitment to the success of the e-invoicing project,” while acknowledging the efforts of firms that aimed to meet the initial August 1, 2025 deadline but faced operational challenges.

    “In the spirit of encouraging voluntary compliance, the FIRS management has approved a three-month extension of the deadline, with the new deadline now set for  November 1, 2025,” he said.

    The agency’s e-Invoicing Implementation Team Adekanmbi said will continue engaging stakeholders through webinars, workshops, and town hall meetings to ensure a smooth transition for all large taxpayers.

    The national e-invoicing solution is an electronic fiscal system (EFS) developed to provide real-time visibility into commercial transactions while ensuring invoice authenticity, accuracy, and completeness.

    FIRS says the platform aligns with global best practices and supports the Federal Government’s objectives of boosting revenue assurance, reducing tax evasion, and modernising tax administration.

    It is also a key instrument in implementing the Nigeria Revenue Services Reform Act, which seeks to harmonise revenue reporting and establish a single source of truth for government revenues.

  • 1,000 firms embrace FIRS’ E-Invoicing in two weeks

    1,000 firms embrace FIRS’ E-Invoicing in two weeks

    The Federal Inland Revenue Service (FIRS) said that no fewer than 1,000 companies have begun integrating with its newly launched electronic invoicing solution (e-invoicing) barely two weeks after it went live.

    According to a statement by Dare Adekanmbi, Special Adviser on Media to FIRS Chairman Zacch Adedeji, the figure represents 20 per cent of over 5,000 eligible large taxpayers, firms with annual turnover of N5 billion and above.

    The e-invoicing platform, which commenced operations on August 1 after a pilot phase that started in November 2024, is designed to transform tax compliance and payment processes nationwide.

    Adekanmbi explained that the initiative, also known as the Merchant-Buyer Model, will be introduced in phases, beginning with large taxpayers before extending to medium-sized and emerging companies.

    “Large taxpayers, which are companies with annual turnover of N5 billion and more, are expected to be the first to be onboarded on the platform,” he said.

    Read Also: Army kills terror ‘kingpin’, others, arrests suspects in coordinated strikes

    The FIRS has set November 1, 2025, as the final deadline for all large companies to complete their onboarding and integration with its Merchant-Buyer System (MBS) platform.

    MTN Nigeria became the first firm to transmit live e-invoices to the tax authority, marking the formal commencement of the regime. Huawei Nigeria and IHS Nigeria have completed test transmissions and are expected to go live shortly.

    To facilitate smooth adoption, the FIRS has partnered with the National Information Technology Development Agency (NITDA) to incorporate service providers into the ecosystem. These providers, serving as both System Integrators and Access Point Providers, will assist companies with onboarding, integration, and invoice transmission.

    Adekanmbi noted that the Service “commends all large taxpayers, tax consultants, and service providers for their cooperation and commitment to the success of the e-invoicing project,” while acknowledging the efforts of firms that aimed to meet the initial August 1, 2025 deadline but faced operational challenges.

    “In the spirit of encouraging voluntary compliance, the FIRS management has approved a three-month extension of the deadline, with the new deadline now set for 1st November 2025,” he said.

    The agency’s e-Invoicing Implementation Team Adekanmbi said will continue engaging stakeholders through webinars, workshops, and town hall meetings to ensure a smooth transition for all large taxpayers.

    The national e-invoicing solution is an electronic fiscal system (EFS) developed to provide real-time visibility into commercial transactions while ensuring invoice authenticity, accuracy, and completeness.

    FIRS says the platform aligns with global best practices and supports the Federal Government’s objectives of boosting revenue assurance, reducing tax evasion, and modernising tax administration.

    It is also a key instrument in implementing the Nigeria Revenue Services Reform Act, which seeks to harmonise revenue reporting and establish a single source of truth for government revenues.

  • FIRS marks first research day, launches new tax data tools

    FIRS marks first research day, launches new tax data tools

    The Federal Inland Revenue Service (FIRS) has hosted its inaugural Research Day, a milestone event aimed at embedding research-driven decision-making into Nigeria’s tax administration.

    The event, championed by the Executive Chairman of FIRS, Dr. Zacch Adedeji, brought together internal stakeholders, scholars, policymakers, and tax professionals to unveil a set of knowledge products designed to boost the country’s tax system and economic governance.

    Speaking at the launch, Dr. Adedeji described Research Day as “a bold statement that research matters in tax administration,” adding that “without research, we risk working in the dark; with it, we shine a light on the path ahead.”

    He stressed that Nigeria’s complex economic realities demand that policy reforms and technological innovations be anchored on credible data and rigorous analysis. “Every question we ask, every data point we analyze, and every policy we shape brings Nigeria closer to prosperity,” he said.

    The FIRS boss also urged all departments to integrate research findings into their planning and execution, while calling for sustained collaboration with the academic and development community “to strengthen the bridge between theory and practice.”

    At the heart of the occasion were the unveilings of three key initiatives: the FIRS Research Policy Document, which sets high ethical, methodological, and transparency standards for research within the Service.

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    Others include, the Tax Revenue Statistical Bulletin, an authoritative publication documenting tax data trends from 1970 to 2022, intended as a critical resource for economic analysis and policy-making; and Volume 4 of the FIRS Journal of Tax Studies (FJTS), a peer-reviewed platform featuring contributions from FIRS staff, academics, and industry experts. To expand accessibility, the FJTS digital platform (www.fjts.online) was also launched in collaboration with the Technology Department.

    Director of the Research and Statistics Department, Halima M. Shehu, described the day as “a new beginning, not just a commemoration.” She said the Research Policy was designed to safeguard intellectual property, maintain methodological integrity, and foster a culture of inquiry across the Service. “Research and reliable data are not optional—they are essential,” she noted, urging more interdepartmental cooperation.

    In a statement issued at the weekend, Collins Omokaro, Special Adviser on Communications and Advocacy to the Executive Chairman, said: “As the FIRS charts a bold path forward, the 2025 Research Day stands as a defining moment—anchored in data, powered by inquiry, and committed to building a smarter, more accountable, and more innovative tax administration system for Nigeria.”

  • FIRS stops tax exemption certificates issuance to pioneer firms, others

    FIRS stops tax exemption certificates issuance to pioneer firms, others

    The Federal Inland Revenue Service (FIRS) says it has discontinued the issuance of tax exemption certificates to all categories of taxpayers, including pioneer status companies, non-governmental organisations (NGOs), and entities operating in free trade zones.

    In a public notice issued by FIRS, the tax authority said the decision is part of ongoing efforts to ensure transparency and adherence to existing tax laws.

    “The issuance of Tax Exemption Certificates has been discontinued. Consequently, no further Tax Exemption Certificates will be issued,” the statement read.

    FIRS noted that exemption certificates that have already been issued remain valid until their expiry date.

    However, the agency said no renewals will be granted once they lapse.

    The agency warned that going forward, all claims for tax benefits or exemptions must strictly comply with applicable laws and follow procedures approved by FIRS.

    “Any attempt to forge, alter, or misrepresent exemption status will attract strict penalties prescribed by the laws,” the tax authority said.

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    FIRS added that it remains committed to building a fair and transparent tax system, and called on all affected stakeholders to align with the revised procedures and legal obligations.

    “All further enquiries on the above subject should be addressed to the executive chairman,” the notice added.

    On July 22, the Executive Chairman of the FIRS, Zacch Adedeji, said Nigeria loses billions annually due to aggressive tax avoidance by multinationals, which undermines governance, erodes trust, and affects infrastructure, public services, and inequality.

    Tax exemption policy was introduced to incentivize businesses that were considered strategic in given environments, especially those that are given to producing for exports to improve foreign exchange earnings.

    The same consideration also applied to others that required long gestation periods before breaking even.

    It is expected that before the freeze is lifted, necessary steps would be taken to streamline the exemption policy so as to address observed lapses in the measure when it lasted.

  • Reclaiming what is ours: FIRS boss spits fire as FG tackles illicit funds flow

    Reclaiming what is ours: FIRS boss spits fire as FG tackles illicit funds flow

    By Arabinrin Aderonke 

    Why does Nigeria, a country blessed with oil, gas, minerals, and millions of hardworking people, still struggle to meet its financial responsibilities? Why are public schools often in poor condition, hospitals lacking supplies, and some infrastructure projects delayed for years? Why does the government continue to borrow even when taxes are being paid, oil revenues are recorded, and businesses are making profits?

    The answers are not difficult to find. They are in what experts describe as Illicit Financial Flows. These are funds that are meant to support development within Nigeria but are quietly moved elsewhere. 

    This happens through tax avoidance schemes, manipulated trade invoices, the use of anonymous companies, and international agreements that no longer reflect Nigeria’s current needs. This is not simply an issue of wrongdoing. It is a question of systems, of influence, and of long-standing practices that have allowed wealth to move out while public services remain behind.

    At the National Conference on Illicit Financial Flows held in Abuja on July 22, 2025, Dr. Zacch Adedeji, Executive Chairman, Federal Inland Revenue Service, spoke directly to the issue. 

    He outlined how Nigeria’s tax system is being undermined by mispriced trade, profit shifting, aggressive avoidance schemes, and financial outflows disguised through legal and accounting loopholes. These practices, he said, are draining the country of revenue meant for core responsibilities, delaying infrastructure, weakening healthcare, stalling education, and undermining public safety.

    The gathering brought together stakeholders including Dr. Doris Uzoka-Anite, Minister of Industry, Trade and Investment; Irene Ovonji-Odida of the United Nations High-Level Panel on Illicit Financial Flows; and representatives from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Economic and Financial Crimes Commission (EFCC), Nigeria Customs Service, the Central Bank of Nigeria, and the Securities and Exchange Commission.

    The Tax Boss said it as it is. He connected the loss to the consequences. What leaves Nigeria through these channels is not just money, but a lost opportunity. He reminded the room that no government can meet the needs of its people if it allows its revenue to be quietly extracted and transferred elsewhere. 

    In pointing out the harm, he also placed responsibility not only on external actors but on institutions at home to strengthen the systems that protect national resources.

    If we recall, Dr. Zacch has been active on multiple fronts. Not long ago, he inaugurated the Anti-Corruption and Transparency Unit at FIRS, working closely with ICPC to root out corruption in tax collection and ensure honesty in how revenue is gathered. This shows he is not just talking about change; he is making it happen.

    Tax Boss also made it clear that Nigeria must review its tax treaties with other countries. Many of these were signed decades ago and do not serve Nigeria’s current interests. 

    Some even allow companies to move profits out of Nigeria easily. He has started talks with several countries to change these deals and close the loopholes.

    He spoke about data. About making sure Nigeria can see, in real time, what money is coming in, where it is going, and whether it is being properly taxed. He said it is not acceptable for the country to be blind to financial movements happening in its economy. 

    He mentioned that FIRS is building a modern data engine that can track transactions more efficiently. This is what it means to upgrade the tools of revenue protection.

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    Another important point he made was about unity. He said the work of stopping illicit financial flows is not for FIRS alone. It will require Customs, the Central Bank, the EFCC, the ICPC, the Ministry of Finance, the Ministry of Trade, and even international partners. Everyone must be on the same page. 

    If we are paying attention, we will also remember that the FIRS now has a new directorate focused specifically on tackling illicit flows and recovering lost assets. It is called the Proceeds of Crime Management and Illicit Flows Coordination Directorate. 

    It didn’t exist before. This is part of what the Tax Boss created to make sure the work is not just theoretical but backed by a unit with the power and capacity to act. The directorate is designed to coordinate internally and externally, especially with other law enforcement and anti-corruption agencies. 

    Dr. Zacch came with the voice of someone who understands that Nigeria is bleeding revenue and that this bleeding must stop. His words did not blame others. They called for action, for systems, for collaboration, and for urgent reforms that reflect the reality of our economy in 2025, not that of 1985.

    The Tax Boss is not just managing a revenue agency. He is confronting a system that for years has quietly allowed the wealth of our dear nation to leak out without accountability. 

    He is bringing the matter to the table, bringing people into the room, building structures, and facing what many before him avoided. The work is not done. Dr. Zacch is not doing guesswork. This kind of leadership is rare. It is serious, focused, and rooted in national interest.

    _Arabinrin Aderonke is the technical assistant on broadcast media to the executive chairman of the Federal Inland Revenue Service_