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FIRS Sets Ambitious Goals For Revenue Growth And Leak Prevention
FIRS Sets Ambitious Goals For Revenue Growth And Leak Prevention....KINDLY READ THE FULL STORY HERE▶
The newly appointed acting chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, emphasized on Monday the agency’s unwavering commitment to fostering the growth and development of Nigeria.
Adedeji, who assumed office after being appointed as FIRS’s acting chairman by President Bola Ahmed Tinubu last Thursday, conveyed this message in a statement posted on X (formerly Twitter).
He expressed ambitious aspirations, aiming to surpass Africa’s average tax-to-GDP ratio of 16.5% and achieve a remarkable 18% within three years. This, he noted, would contribute to reducing the nation’s reliance on borrowing and ensuring its financial sustainability.
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Adedeji further articulated FIRS’s determination to align itself with President Bola Tinubu’s Fiscal Policy and Tax Reforms Committee, fostering collaboration to help the government shape a prosperous fiscal landscape that empowers national growth and development.
He highlighted the agency’s strategic focus on placing innovation, technology, and fresh ideas at the forefront of its operations. This strategic approach, Adedeji asserted, would empower FIRS to enhance efficiency, combat revenue leakage, and strengthen coordination and accountability within the organization.
Adedeji’s overarching goal is to nurture voluntary tax compliance by establishing a modern, dependable tax system that garners the trust and admiration of all stakeholders. He envisions an environment where taxpayers willingly fulfill their civic duties.
In the event of deviations from tax obligations, Adedeji assured that FIRS would diligently enforce its responsibilities. The agency plans to implement a robust enforcement model that effectively discourages tax evasion while maintaining fairness and transparency in its processes.
Adedeji emphasized a fundamental aspect of FIRS’s mission: elucidating to taxpayers the significance of their civic duty and the agency’s commitment to simplifying Nigeria’s tax system, making it accessible and comprehensible. This approach is expected to facilitate voluntary tax payments and cultivate a sense of civic responsibility.
Quality data will serve as the cornerstone of FIRS’s operations, enabling them to measure progress, make informed decisions, and uphold the highest standards of accountability, recognizing the importance of data-driven strategies for success.
Adedeji pledged to maintain an open-door policy, actively engaging with stakeholders to collaboratively build a tax administration that all Nigerians can take pride in. He emphasized the non-negotiable principles of integrity, confidentiality, professionalism, and fairness in the agency’s service to the nation.
Lastly, Adedeji extended heartfelt appreciation to his predecessor, Muhammad Nami, whose leadership elevated FIRS standards during his tenure, setting the stage for the agency’s future endeavors. He concluded by emphasizing his belief in the importance of revenue growth as the lifeblood of a nation’s economy, enabling the fulfillment of essential duties to its citizens.
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“Debt Crisis Unresolved!”: Contractors Claim 85% Left Behind by Government’s ₦700 Billion Payout!
The All Indigenous Contractors Association of Nigeria (AICAN) has resumed protests at the Federal Ministry of Finance headquarters in Abuja, citing frustration over unpaid project arrears. This demonstration occurred shortly after the Federal Government announced it had processed over ₦700 billion in payments for verified contractor obligations, with ₦436.6 billion processed in May alone. The Ministry explained that this recent payment batch prioritizes contractors with verified claims of ₦100 million or less to ensure the economic impact reaches a broader range of businesses.....KINDLY READ THE FULL STORY HERE▶
Despite the government’s announcement, AICAN National President Jackson Nwosu stated that approximately 85 percent of contractors remain unpaid, noting that funds expected to reflect in accounts by the previous Friday failed to materialize for the majority. Furthermore, AICAN National Secretary Babatunde Seun questioned the validity of the ₦700 billion disbursement figure, asserting that members have yet to see evidence of these payments. In response to the protests, Permanent Secretary for Special Duties at the Ministry of Finance, Mohammed Sanusi, clarified that government approval of funds does not equate to immediate payment. Sanusi assured the protesters that the ₦700 billion has been approved and that an additional ₦70 billion has been assigned specifically for the association, with payments expected to begin shortly.
Key Takeaways
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Protest Catalyst: Indigenous contractors are protesting at the Ministry of Finance due to continued non-payment for projects executed in 2024.
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Government Stance: The government emphasizes that it is prioritizing smaller contractors—those with claims of ₦100 million or less—to maximize economic relief.
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Dispute Over Funds: AICAN leadership claims that 85 percent of their members have not received payment and disputes the Ministry’s reported ₦700 billion disbursement.
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Official Clarification: The Ministry of Finance clarified that “approval” is distinct from “payment,” while pledging that approved funds for the association are forthcoming.
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“Finally, Some Good News!”: Marketers Assure Consumers Cooking Gas Prices Will Fall Naturally Soon!.
Cooking gas marketers have linked the recent sharp rise in Liquefied Petroleum Gas (LPG) prices to a combination of seasonal demand, supply shortages, and an imbalance between the number of consumers and available products. Spokespersons for the Oil and Gas Suppliers Association of Nigeria (NOGASA) and the Nigerian Independent Petroleum Company Plc (NIPCO) explained that prices in areas like Abuja have surged by 40 to 66 percent within the last three weeks, with per-kilogram costs climbing from a previous range of ₦1,000–₦1,200 to between ₦1,400 and ₦2,000.....KINDLY READ THE FULL STORY HERE▶
Chinedu Ukadike of NOGASA noted that the rainy season has intensified demand, as households shift away from firewood, which becomes less accessible during this period. Meanwhile, Taofeek Lawal of NIPCO highlighted that the current market struggle is primarily a supply issue, as the available volume is insufficient to accommodate the growing consumer base. Despite the current financial strain this places on households amid broader inflationary pressures, marketers expressed optimism that prices will naturally decline as supply improves and more operators, including the Dangote Refinery, enter the LPG supply chain.
Key Takeaways
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Price Surge: Cooking gas prices have risen significantly, now selling between ₦1,400 and ₦2,000 per kilogram in Abuja and neighboring areas.
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Primary Drivers: Increased reliance on LPG during the rainy season and a mismatch between high demand and limited supply are cited as the main reasons for the price hike.
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Market Outlook: Marketers expect the situation to be temporary, anticipating that increased participation from more gas companies will stabilize and eventually lower prices.
The Chairman of the Lagos State Joint Negotiating Council (JNC), Domingo Michael Adeleke, has passed away in Geneva, Switzerland, while participating in the 114th Session of the International Labour Conference (ILC). Adeleke, who was also affiliated with the Nigeria Civil Service Union (NCSU), reportedly fell ill during the conference and died on Tuesday following a brief period of medical treatment.....KINDLY READ THE FULL STORY HERE▶
The Nigeria Labour Congress (NLC) officially confirmed the news, honoring Adeleke as a dedicated trade unionist who spent his career advocating for workers’ welfare, social justice, and decent working conditions. NLC leadership has since visited the hospital where his remains are held and has commenced the necessary arrangements for his repatriation back to Nigeria. The Congress expressed deep sorrow over his death, offering condolences to his family, colleagues, and the broader labour movement in Lagos State.
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A Sudden Loss: Lagos State JNC Chairman Domingo Michael Adeleke has died in Geneva, Switzerland, while representing Nigeria at the 114th International Labour Conference.
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Passing: Adeleke, a member of the Nigeria Civil Service Union, passed away on Tuesday after falling ill during the international event.
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Union Tribute: The NLC praised Adeleke’s long-standing commitment to the struggle for workers’ rights and social justice, noting that he remained dedicated to these causes until his final days.
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Repatriation Efforts: The NLC leadership has confirmed that arrangements are currently underway to bring Adeleke’s remains back home following their visit to the hospital where he was being treated.
Key Takeaways:
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The Deceased: Domingo Michael Adeleke, Chairman of the Lagos State Joint Negotiating Council (JNC).
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Context: He was part of the Nigerian delegation attending the 114th Session of the International Labour Conference (ILC) in Geneva.
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Legacy: He is remembered by the NLC for his steadfast commitment to the welfare of Nigerian workers and the promotion of decent work.
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