Business & Economy
Tax Reform Bills:Senate passes Nigeria Revenue Service,Nigeria Tax Administration Bills

By George Mgbeleke
The Senate at plenary on Wednesday, passed two out of the four tax Reform bills after subjecting the bills (comprising Nigeria Revenue Service Bill and the Nigeria Administration) into clause by clause consideration.
Recall that the tax reform bills passed second reading in the Senate last November, and the House of Representatives passed them at third reading in March 2025, shortly before the lawmakers adjourned for the Easter and Eid-el-Fitr holidays.
In his committee’s report,Chairman Senate Committee on Finance, Senator Sani Musa said the committee members duly reviewed the provisions of the tax reform bills and conducted public hearings for public participation
According to Senator Musa, about 64 organisations, including Civil Society Organisations (CSOs), attended the public hearing, and a majority of them supported the bills.
On the sharing formula for Value-Added Tax, the senator recommended 10 per cent for the federal government, 55 per cent for state governments and the Federal Capital Territory, and 35 per cent for local governments.
He also recommended retaining 10 per cent of funding for TETFUND, 10 per cent for NASENI, and 10 per cent for NITDA.
Musa also noted that the committee included 5 per cent funding for cybersecurity and 10 per cent funding for defence.
The senator, therefore, recommended the passage of the tax reform bills with the argument that it would improve economic growth, simplify tax compliance and boost investor confidence.
Kebbi North Senator Yahaya Abdullahi supported the bills and urged his colleagues to support it.
Details of the recommendations on the two Bills are as follows:
Recommendations on the Nigeria Revenue Service (Establishment) Bill, 2025 (SB.584)
The objectives of this Bill should be amended as follows:
“To provide for a legal, institutional and regulatory framework for the administration of taxes and revenue accruable to the Government of the Federation, as prescribed by the National Assembly.”
2. Clauses 4 of the Nigeria Revenue Service Establishment Bill 2025, – functions of the Nigeria Revenue Service should be amended as follows:
a. Assess persons including corporations, companies and individuals chargeable with tax, other than individuals, resident in any state of the Federation or the Federal Capital Territory.
b. in collaboration with the relevant Ministries and Agencies of Government, subject to the approval of the Senate, review the tax regimes and promote the use of taxation to develop, stimulate and grow economic activities;
C. Adopt measures to identify, trace, freeze, confiscate or seize proceeds derived from tax fraud or evasion, in line with the provisions of this Bill;
3. Clause 7 (la) of the Nigeria Revenue Service Establishment Bill 2025 should be amended as follows:
“The Chairman of the Board who shall be the President; and (b) Executive Vice Chairman who shall be the head of the Revenue Service and subject to confirmation of the Senate”
4 Clause 13 (2) of the Nigeria Revenue Service Establishment Bill 2025 should be amended as follows:
“The Secretary shall be a lawyer, or a chartered accountant or a chartered secretary who shall not be less than the rank of a Deputy Director”
5. Executive directors should be appointed to the Board of the Service. We propose that the relevant clause be amended as follows:
“The President shall appoint six Executive Directors for the Service, each representing a geopolitical zone on rotational basis among the states in the zone in alphabetical order provided that the Executive Vice chairman and an Executive Director shall not come from the same state ”
6. The timeline for reporting by the service should not exceed 3 months after the end of the preceding year.
9.3. Recommendation on the Nigeria Tax Administration Bill (SB. 585)
10% to the Federal Government;
55% to the State Governments and the Federal Capital Territory; and
35% to the Local Governments.
(2) The amount of VAT revenue standing to the credit of states and local governments shall be
Distributed among them on the following basis:
State Governments:
Equality – 50%
Population -20%
iii. Place of consumption -30%
b. Local Governments -70%
i. Equality -30%.
ii. Population
3. Change the word “Derivation” to “place of consumption” to provide clarity
4. Penalties for the following offences were amended as follows:
Clause 100 – Failure to register:
(a) N100,000.00 in the first month in which the failure occurs; and
(b) N50,000.00 for each subsequent month in which the failure continues.
Clause 101 – Failure to file returns:
(a) N200,000.00 in the first month in which the failure occurs: and
(b) N50,000.00 for each subsequent month in which the failure continues
Clause 102 – Failure to keep books:
(b) on request by the relevant tax authority, fails to provide any record or book
Prescribed in this Act shall be liable to pay an administrative penalty of
In the case of a person other than a company, N10,000.00, and
In the case of a company, NI00,000.00.
5. Clause 107 – Failure to remit tax deducted at source or self-account: A person who
Fails to comply with subsections (1) and (2), shall on conviction for any of the offences under this section, in addition to the administrative penalty, be liable to a term of imprisonment not exceeding three years.
9.4. Recommendation on the Nigeria Tax Bill (SB. 586)
1. Development Levy: Retain the funding of TETFUND, NASENI, NITDA, Cyber Security and NELFUND from the Development levy using the following sharing formula:
i. Tertiary Education Trust Fund 50%:
i. Nigerian Education Loan Fund 15%
iii. National Information Technology Development Fund – 10%;
iv. National Agency for Science and Engineering Infrastructure 10%:
V. National Cybersecurity Funds – 5% and
vi. Defence Security Funds – 10%.
2. Retain the VAT rate at 7.5%
3. Company Income Tax rate 30%
4. Clauses 157 to 163 which provide for Excise Duty on Services should be deleted.
5. The provisions of the PIA that are proposed for amendments are outlined below:
The Petroleum Industry Act, No 6. 2021 is amended by deleting
(a) Part I-X of Chapter Four;
(b) the Fifth and Sixth Schedules;
(c) paragraphs 6, 9, 10, 11 and 12, of the Seventh Schedule: and
(d) subparagraph 6 of paragraph 14 of Part IV of the Seventh Schedule:
9.5. Having carefully considered the above, the Committee hereby recommends as follows:
That the Senate do consider and pass the following Bills
Joint Revenue Board (Establishment) Bill, 2025 (SB. 583).
Business & Economy
Bayelsa Solicits Cooperation Of Business Community in Fight Against Fake Products …. Says Gas Turbines Will Reduce Cost Of Doing Business in the State.

By David Owei, Bayelsa
The Bayelsa State Government has called on the business community in the state to support its efforts at fighting the proliferation of fake and adulterated products that are being distributed and sold to consumers within and outside the state.
The Deputy Governor, Senator Lawrence Ewhrudjakpo, made the call at the weekend when the Bayelsa Mega Entrepreneurs Forum paid him a courtesy visit in Government House, Yenagoa.
The Deputy Governor, who described the mega entrepreneurs as the backbone of the economy of the State, however, noted that they have a critical role to play to checkmate the marketing and distribution of fake and expired goods and products which portend danger to the populace.
While encouraging the entrepreneurs to always pay their taxes to government as required by law, Senator Ewhrudjakpo, assured that the concerns raised by the group, especially the issue of multiple taxation, would be appropriately addressed.
He informed that government had prioritized the twin issues of security and power as key drivers of business and economic development, hence it had invested heavily in the security architecture of the State.
Describing power generation as the major component of the cost of doing business in the country, he further assured the Bayelsa business community that the State Government was working assiduously to meet up the December deadline for the full operation of its new gas turbine plant to solve the problem of epileptic electricity supply.
The Bayelsa number two Man equally called on the big entrepreneurs to extend their various businesses to the rural areas to stimulate a balanced economic growth in every part of the state, and not just in the capital city alone.
On the forthcoming Bayelsa Mega Entrepreneurship Summit, he said government was on top of it and would leave no stone unturned to make it a huge success.
His words: ” It is good to see that you have come together to form a group. Your coming together will do a lot of good for our state. You are a pillar to the economy of Bayelsa State.
“We believe that every good government should create the enabling environment for entrepreneurs to thrive. That is why the ASSURED Prosperity Government is taking the most important to the least. We have improved our security architecture to secure lives and property because without security, nobody can comfortably do business.
“After security, the next thing is power for businesses to thrive. Power generation to sustain business is highly capital-intensive. But very soon, there will be relief as government is working round the clock on the December deadline.
” As a government, we want to encourage you to moderate your businesses, and pay taxes as at and when due. There is also the issue of fake and adulterated products in the State. We need your support and cooperation in the fight to checkmate the proliferation of fake products being sold in the state.”
Earlier in a remark, the Technical Adviser to the Governor on Entrepreneurship Development, Mrs. Charity Kens-Godwin, explained that the visit was intended to create an opportunity for the Bayelsa Mega Entrepreneurs to interface with government.
While reminding the Deputy Governor of the Bayelsa Mega Entrepreneurship Summit that is due in a week’s time, Mrs Kens- Godwin applauded him for his good disposition towards the business community, especially on the issue of multiple taxation.
Also, the CEO of Ayalla Hotels, Chief Ayalla Robert Enogha, thanked the state government for taking the bull by the horn through the acquisition of the gas turbines to stabilize power supply in the state, noting that the cost of diesel consumes a huge chunk of profits from businesses operating in the state.
Chief Ayalla, who extolled government for creating the platform through the office of the Technical Adviser on Entrepreneurship Development, however, pleaded with government to look into the issue of multiple taxation as well as high levies being imposed on truck drivers bringing goods into the state, which translates to higher prices and cost of living.
Business & Economy
Vehicle Manufacturers, Innoson, To Build CNG Plant In Bayelsa

By David Owei,Bayelsa
Nigerian vehicle manufacturers, Innoson Vehicles Manufcturing (IVM) Limited, has disclosed plans to establish a Compressed Natural Gas (CNG) assembly plant in Bayelsa State.
The Managing Director and Chief Executive Officer, Chief Innocent Chukwuma, stated this on Monday when he visited Governor Douye Diri in Government House, Yenagoa.
The Innoson CEO said the investment would boost the state’s transportation sector as well as provide training and create jobs.
He stated that the initiative will also promote cleaner and greener environment and enhance the country’s capacity to meet its renewable energy target by 2030.
In his presentation, the company’s Corporate Communications Manager, Mr. Kamsi Ejiofor, explained that the objective is to introduce modern CNG buses, ambulances and vehicles that would enhance mobility and public efficiency in the state.
According to him, the plant will generate 1000 jobs and thousands of direct opportunities in assembly, maintenance, logistics and local manufacturing as well as boosting Bayelsa’s economy by enhancing its industrial base.
Ejiofor said: “The usage of CNG vehicles will save cost from fuel and maintenance, improve health, cleaner air and lead to innovation in Bayelsa, making the state a clean energy and tech pioneer in Nigeria.”
Responding, Bayelsa State Governor, Senator Douye Diri, commended Chief Chukwuma for the decision to site the the CNG conversion plant in the state, noting that the investment would help grow Bayelsa’s industrial base.
While expressing his administration’s commitment to collaborate with the vehicle firm, Senator Diri described the initiative as a welcome development towards moving the state’s economy from consuming to production.
The governor, who said the investment was timely, noted that procurement of CNG vehicles was in the state government’s budget projection for 2026 and expressed delight over the economic impact of such investment, particularly in the area of job opportunities.
The state’s helmsman noted that his administration was putting in place the necessary infrastructure to support investments in Bayelsa and urged other investors to emulate Innoson to invest in the state.
“It is a welcome development for CNG vehicles plant to be sited in Bayelsa. We are ready to partner with you.
“One area that l am interested in is the CNG aspect. The world is moving towards renewal energy because of environmental pollution.
“My administration was considering purchasing CNG buses to run our upland transport system. Your coming is timely because it is part of our projections for 2026.
“I assure you that we are putting in place the right environment to enable investments thrive in terms of peace and security, infrastructure and our independent power supply, which will ensure uninterrupted electricity.”
Diri also announced an implementation committee to interface with the company.
The committee has Secretary to the State Government, Prof. Nimibofa Ayawei as chairman while other members are the Commissioner for Trade and Investment, Jones Ebieri, his Information and Finance counterparts, Mrs Ebiuwou Koku-Obiyai and Maxwell Ebibai respectively.
Others are the Commissioner for Justice and Attorney-General, Biriyai Dambo (SAN),
Preye Broderick (Transport), Mazi Johnson Onuma (General Duties), as well as the Special Adviser on Investment, Owanari Harry, and the
Technical Adviser on Entrepreneurship, Charity Kens Godwin.
Business & Economy
Anua Offot Market builds eight new public convenience, Village Head, Market Chairman lauds NYSC, NEMA on market sanitation

By Emmanuel Ikpe
The village head of Anua Offot, Uyo Local Government Area, Chief Linus Inyang had commended effort of the Anua Offot Market Management Committee for working tirelessly to provide convenience to market women and visitors to the market alike.
Chief Linus Inyang gave the commendation while cutting the tape to open the newly built public convenience for use at the weekend, while expressing confidence in the market management team for doing everything possible to uplift the standard of living of people in the market, expressed the determination to continue to attend to the plight of those selling at the market square.
The Village Head has also commended the Community Development Service Team of the Nigeria Youth Service Corp, NYSC for choosing Anua Offot Market to carryout their practical assignment by cleaning the market, which he described it as lovely.
Speaking, the President of Environmental Protection Service Group of the NYSC, Afasare Precious, said they were at the market to sensitized the traders on waste management and control in order to keep health of the market environment high and this has been demonstrated with the general cleaning of the market square.
The President of Disaster Management Team of the NYSC, Akinwumi Ayomide said they came under the supervision of National Emergency Management Agency NEMA, and the Environmental Sanitation CDS Group, to sensitized the market women on proper waste management and flood control, and was pleased that the women hearken to the exercise.
“We came to tell the market women that if the don’t disposed their waste properly, it would lead to blockage of drainage and flooding and we don’t wished anyone to experience flood no matter how little it maybe”, she stated.
Meanwhile, the chairman of the Anua Offot Market Management Committee, Mr Ransom Unung has appreciated the NYSC, NEMA and her team for choosing the market as their place of practical assignment and for NEMA for the orientation given to the market women on waste management and flood control while describing the exercise as very important and a necessity, he laud the market women for keying into the development. Unung appreciated the village head for giving him opportunity to served in that capacity, to interpret his dream and vision to the market women, promised to double up his efforts in his services to his people and his government.
Speaking earlier, Yellow-Duke Offiong, a Disaster Rok Officer of NEMA reiterated the agency continuous commitment to work with the NYSC and relevant government agencies to carryout awareness campaign on proper waste management and flood control and it effects on environment and human live.
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