The Federal Government has dismissed rumors suggesting an impending increase in Nigeria’s Value-Added Tax (VAT) from 7.5% to 10%.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, clarified that no such proposal is being considered by the administration of President Bola Ahmed Tinubu.
Director of Information and Public Relations, Mohammed Manga in a statement quoted Edun to have reiterated that the government remains committed to fiscal stability and is focusing on economic policies aimed at reducing inflation without imposing additional burdens on Nigerians.
He highlighted recent government initiatives, such as suspending import duties on essential goods, as part of President Tinubu’s efforts to ease the country’s economic challenges.

The Minister assured the public that any future tax reforms would be communicated transparently through official channels, stressing the importance of avoiding misinformation. The statement was released to address growing concerns over a potential VAT hike amid Nigeria’s current economic pressures.

The Federal Ministry of Finance reaffirmed its commitment to keeping citizens informed on all tax and economic policies, ensuring clear and accurate communication.

By Ahmed Rufa’i, Dutse

The Jigawa state Internal Revenue Service (JIRS) has accused some revenue generatiing agencies of sabotage in local revenue collection in the state.

The executive chairman of services, Malam Nasir Sabo Idris gave the indication at the launch of Jigawa Enlightenment and Engagement Team (JEET) with the aim of improving revenue generation in the state.

The executive chairman lamented over the lackadaisical attitude of most of the revenue generating agencies in the state towards their mandate of revenue and tax collection.
He also alleged that the little they collected some times are not remitted to the government account.

Malam Nasir Sabo Idris who also observed that the agencies were also not represented at the launching of Jigawa Enlightenment and Engagement Team (JEET), despite timely invitation extended to them

He attributed the continued decline of internally generated revenue in the state to inadequate tax payers enlightenment and engagement in addition to poor commitment by tax and revenue collectors.

According to him with the new strategies applied in modernizing and digitizing tax collection system, the board is targeting to increase the revenue generation by twenty percent in the first quarter of 2024.

The Chairman expressed the optimism that they will increase the state ‘s Internally Generated Revenue (IGR) by sixty percent at the end of next year adding that it will be doubled in the next two years.

According him, the JEET team is aimed at creating more awareness, understanding and cordial relationship between the tax payers and tax collectors in the state with the hope it will block all leakages and tax fraudulent collection.

Malam Idris maintained that the JEET would digitize taxpayers registration as well as enlighten the tax payers about electronic payment to avoid any fraudulent practice.

“Though I’m newly appointed as chairman of the board but we estimated that in 2024 the board would be able to generate N42 billion, and if the leakages are blocked we will double the tax collection by the end of this administration” ,he said.

The chairman identified some duties of the JEET to include tax payers education and enlightenment, registration of tax payers, engagement with stakeholders and Data collection, effective handling of media information among others.

He called on workers union, MDAs and all other stakeholders to cooperate with the team to achieve the desired objectives of moving Jigawa state forward.

The Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service (FCT-IRS), Mr. Haruna Abdullahi has indicated that the management of the Service has priortised institutional framework as key strategy to boost revenue generation in the territory, steadily.

A statement by the Head Corporate Communications of the service Mustapha Sumaila quoted Abdullahi to have spoken in a key note address on “Accounting for a better world” at the Annual Association of Chartered Certified Accountants (ACCA) Members, Partner Employers and Students Summit 2023 in Abuja.

He explained that what the management of the Service under his leadership has been doing in the last two years was to build a strong and robust system that would outlive them, thereby making processes and procedures of tax administration easier and seamless with a view to enhance tax collections.

“What we have been doing in the last two years is to build the institutional framework to fit into globally recognised institutions that will be a model for not only our counterpart agencies in Nigeria but in Africa.

“We have carried out a number of reforms to reshape the Service to enhance our revenue drive in the FCT. We have stepped up on our awareness campaigns to educate taxpayers on all our processes as well mobilise the prospective taxpayers to be in tax net.

“Our engagement with our major stakeholders has been enhanced overtime as we constantly engage them, update and educate them on decision, direction and introduction of any policy in order to carry them along.

“Capacity building of staff has been an utmost priority for the Service more than ever. We cannot have efficient and committed workforce if the staffers are not well trained to deliver optimally.

“From what we have done so far, in the next few years, there will be visible impact in terms of what the Service will be generating” he stated.

The FCT-IRS boss while speaking to students at the Summit, admonished them on the importance of mentorship when making career choices, as guides from their mentors would go a long way in shaping their career paths.

Abdullahi who is also a Fellow of ACCA underscored the need for mentors and successful persons in their choosen endeavours in the society to identify talents and build them to become great people in their careers.

The FCT-IRS chairman while commending the ACCA for organising the summit, stated that the association had given him global opportunity to work around the world hence urged the participants to tap from this privilege to change their destiny.