₦airaland Forum

maiunguwar:
Yoruba women wey smell pass skunk na him rich man wan marry?

I can only imagine

Very Presidential

He’s Jagaban for a reason

These people just like to keep leeching on the rest of the country

Just because you have issues with one or two texts does not mean the document is flawed

The tax reform bill is as near perfect as possible and honestly Tinubu has done brilliantly well by proposing it

Unfortunately, we have a country that is difficult to govern because some just want to keep sucking from the feeding bottle of resources generated by the others

God bless Bola Tinubu, Nigeria’s best president ever

Meanwhile one clown who a mad man advises met with a former minister in Indonesia and has been on and on about it

Someone that did nothing in Anambra

Can someone please show me one notable thing that clown and Agulu fraud did in Anambra

Empty chest beaters

Never seen a people so cowardly

If they are qualified, why not?

obinna58:
Waste of resources

Stop commenting on topics beyond your brain capacity

Omoluabi

Proudly Yoruba

Ogun State is the most industrialized state in Nigeria

Ogun has more industries than all industries in the five plots

God bless Yorubaland

The best and most beautiful airport in subsaharan Africa

In no time it will be the busiest in Africa

God bless Yorubaland

Tinubu is Nigeria’s most intelligent president ever

This man came prepared and I bet no other candidate could have had the nerve to do half of what he has done

MufasaLion:
The Chagoury Group is in partnership with FG and LASG. However, it's funded by the Chagoury Group.

Most of the developers in Eko Atlantic are Yorubas

You can fact check this

The city itself is based on the ingenuity of Bola Tinubu after the FG had spent billions sand-filling the bar beach but it kept getting washed away

Chagoury came as a partner to build just like JB built the Second Niger Bridge which will be tolled

God bless Yorubaland and with the coastal road, more of this will spring up

I know the people who have never been able to find a solution to their erosion ravaged lands will be jealous but they’ve not even seen anything yet

This is a matter of fact. I’ve been to the other two contenders SA and Egypt (in transit flight) and I can say for sure that Nigeria is way bigger economically

If it’s paining you go and hit your head on a rock

The South East is the most unsafe place in Nigeria

Between December and January over 250 people were kidnapped. This is not mentioning the numerous deaths that go unreported

It’s Tinubu till 2031 whether you like it or not

He’s easily the best president we ever had

Each day I thank God Nigeria never has the misfortune of voting a clueless person who a mad man advises

Nigeria is on the path to greatness

All companies are making mad profits

The economy is beginning to pick up

Nigeria is on the path of prosperity

Tinubu is the best president ever

Their Chairman has been in detention ever since

There’s no way Obi could have had the balls to arrest him

No way he would have had the balls to remove subsidy or float the Naira otherwise he won’t be criticizing the policies the way he is

No way he could have had the brains to put together a solid bill like the tax reform bill or implement the students loan

He couldn’t have been fixing bad roads in the country while doing landmark projects like the Lagos-Calabar Calabar-Sokoto Highways

Look at all the impressive investments in oil and gas, the increase in crude oil production and gas. See the Naira for crude deal initiative which is brilliant

Since last week, companies have been posting profits

Tinubu came very prepared

givedemwotowoto:
Nigerians can’t wait for 2027 to vote him out and erase the memories of years of unnecessary hardship

Tinubu is unarguably the best president Nigeria has ever had

I wasn’t surprised

It just had to be them

And more still

And more

From Naira appreciating to companies posting impressive profits and non-oil exports increasing

Nigeria is on the path of greatness

God bless President Bola Tinubu

And politicians are defecting to the APC in droves

Tinubu has done exceptionally well under two years

He has upturned he old order and set Nigeria on a new path that will lead to sustained growth

While some are complaining, some are exporting and cashing out.

iwaeda:
You are rejoicing over increment in revenues without commensurate improvements on citizens. Imagine customs declaring humongous income, while clearing of goods beyond many now.

Companies are also posting profits so where do you sit

The Federal Inland Revenue Service (FIRS) has reported a substantial rise in Nigeria’s Value Added Tax (VAT) collections, which reached N6.72 trillion in 2024, reflecting a 84.62% year-on-year (YoY) increase compared to N3.64 trillion recorded the previous year.

This was disclosed at the 2025 FIRS Management Retreat on Thursday, where the agency reviewed its revenue performance.

According to the data presented by Amina Ado, Coordinating Director, Large Taxpayers Group, VAT collections in 2024 demonstrated remarkable growth across both import and non-import categories.

Surge in tax revenue across categories

The latest figures indicate that all tax categories recorded significant growth in 2024 compared to 2023, with non-oil taxes driving the majority of the increase.

Non-import VAT, which stood at N2.93 trillion in 2023, rose by 75.09% to N5.13 trillion in 2024.
Similarly, import VAT more than doubled, increasing from N715 billion to N1.59 trillion, representing a 122.38% growth.
Company Income Tax (CIT) also recorded a 102.5% rise, climbing from N3.35 trillion in 2023 to N6.78 trillion in 2024.
Meanwhile, the Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), and Upstream CIT segment saw a 35.2% growth, increasing from N4.26 trillion to N5.76 trillion.
Education Tax (EDT) posted the highest YoY percentage growth, surging by 127.8%, from N719 billion in 2023 to N1.64 trillion in 2024.
The overall non-oil tax revenue increased by 97% compared to 2023, reflecting the federal government’s intensified efforts to broaden the country’s tax base and reduce reliance on oil revenues.

Oil revenue falls below target despite growth

Despite growth across all tax categories, oil-related tax revenue did not meet FIRS’ internal projections. The PPT/HT/CIT Upstream tax, which was expected to generate N7 trillion, fell short at N5.76 trillion, achieving only 82.3% of its target.

The shortfall was attributed to lower-than-expected crude oil production, which averaged 1.55 million barrels per day (mbpd) instead of the projected 1.78 mbpd.

However, improved debt collection efforts helped offset some of the revenue losses in this segment.

VAT and CIT exceed projections
While oil-related revenue underperformed, VAT collections surpassed internal projections. Import VAT, initially targeted at N1.1 trillion, significantly outperformed expectations, achieving 144.3% of its target with a final revenue of N1.59 trillion.
Non-Import VAT also exceeded expectations, surpassing its target by 20.7%, reaching N5.13 trillion instead of the projected N4.25 trillion.
CIT collections followed a similar trend, outperforming projections. The tax, which was expected to generate N5.7 trillion, closed the year at N6.78 trillion, achieving 118.9% of its target.
What you should know
The FIRS plans to generate N25.2 trillion from taxes in 2025. This new target followed the N21.6 trillion revenue that the Service generated in 2024, significantly exceeding the year’s target of N19.4 trillion.

There have been debates recently over the new sharing formula for VAT revenue as proposed in the new tax reform bills currently before the National Assembly.

The new tax bills under consideration propose adopting a derivation principle in the allocation of VAT revenues between the federal government and sub-national entities.
Under the current Section 40 of the VAT Act, VAT revenue is allocated as follows: 15% to the Federal Government, 50% to the States and Federal Capital Territory (FCT), and 35% to Local Governments.
The allocation to states and local governments incorporates a derivation principle of at least 20%. Although not explicitly detailed in the VAT Act, other factors influencing distribution include 50% based on equality and 30% based on population.
Additionally, 4% of collections are allocated to the Federal Inland Revenue Service (FIRS) as a collection fee, while 2% goes to the Nigeria Customs Service (NCS) for import VAT.
However, the Nigeria Governors’ Forum (NGF) endorsed a revised Value Added Tax (VAT) sharing formula, which it believes will ensure equitable distribution of Nigeria’s resources.
The NGF endorsed a revised VAT-sharing formula aimed at the equitable distribution of resources, which is based on 50% based on equality, 30% based on derivation, and 20% based on population.
Members also agreed that there should be no increase in the VAT rate or reduction in Corporate Income Tax (CIT) at this time.

https://nairametrics.com/2025/01/31/nigerias-vat-revenue-hits-n6-72-trillion-in-2024-surges-by-84-62/

wizelink:
Another avenue to loot public fund. What happened to 16billion dollars during OBJ era for same project?

People that comment without reading

EmperorCaesar:
Where was Tinubu since 1999? This man should have been the first

Fools will tell you he came into Govt with no plan

We now have a true President

Apparently he had it all figured out. He had more than just a plan. He had an entire document on how this would play out. From the tax reforms, to the oil and gas reforms, to rail reforms, electricity supply and infrastructural development.

The use of technology is also within the plan if you read his blueprint document

I’m not sure anyone else in the 2023 presidential elections or even those before him could have done half of what he will accomplish in 4yrs and then consolidate with another 4yrs