In the intricate world of Nigeria’s oil industry, the Federal Government sets sail on a bold expedition, eyeing a formidable 214% surge in Petroleum Profit Tax (PPT) collections in 2024. As the nation charts this ambitious course, a complex interplay of factors, from legislative changes to global economic dynamics, shapes the trajectory of one of Africa’s key economic pillars.
Ambitious Targets and Legislative Changes:
The Federal Inland Revenue Service (FIRS) reveals an audacious revenue target of N9.96 trillion from PPT, representing a staggering leap from the N3.17 trillion achieved in 2023. This ambitious goal reflects an 89% hike over the initial projection of.....

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