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FG can retain VAT as it is – Oyedele
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The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said it is possible for the current Value Added Tax structure to be kept as it is given the controversies it had stirred.
Oyedele said this on Sunday when he appeared on a live television programme on Arise TV to discuss the tax reforms proposed by President Bola Tinubu.
In October 2024, Tinubu introduced four Tax Reform Bills to the National Assembly to overhaul Nigeria’s tax system. The Bills – the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill – were to consolidate existing tax laws, streamline tax administration, and enhance revenue generation.
The proposed legislation has faced stiff resistance from various players in the country, as people argue that it would favour one section of Nigeria at the expense of others. Proposed reforms to the Value Added Tax were one of the main grief points.
Speaking on Sunday, Oyedele said what his committee proposed regarding Value Added Tax would benefit every part of the country.
He, however, noted that if the preference was for the current state, then his team was willing to oblige.
“There were two comments that Mr President made. His first point is that we have to do tax reforms. We cannot continue with the laws of the colonial era and hope that Nigeria will become a developed country. This tax system is holding us back. Then after a few other questions, someone asked a question again about whether he was willing to move and make a compromise, and he said, ‘Yes’. So his point is that we have to carry out tax reform.
“That is what is non-negotiable, otherwise, we will be missing out on a significant opportunity to move Nigeria forward. But in terms of the details of those bills, everything is up for grabs. I can tell you, as we speak today, if they want us to keep the current VAT formula, we’ll keep it 100 per cent. So, the fact that people keep using the problem we are trying to solve against us, is what I need to understand.
“We are saying today that Lagos State is getting the benefit for calls made in Kano, Kwara, in Ekiti. We say, let’s change that. And then you come out and say they want to take what we are doing in Kano to Lagos,” he said.
The tax reforms committee boss tracing the history of the VAT in Nigeria said, “It seems to me that the more we explain it, the more people try not to understand because a lot of people don’t even understand the current position of the law.
“Let me quickly explain what the problem is, the value-added tax was introduced in 1993 by the military. Implementation started in 1994 and that was to replace the sales tax that was being done by states.”
Oyedele stated that in 1999 when Nigeria got into the Fourth Republic, the country needed a constitution.
“The people that put the Constitution together pretty much replicated 1979’s. In 1979 there wasn’t VAT. So in 1999 when they introduced the constitution, VAT was missing, but the government continued to collect VAT. Some states like Rivers State and Lagos State are in court saying that VAT should be collected by the state because they feel that they are not getting enough for the contribution they are making into the VAT pot, and therefore if they collect it as a state tax, they will be better off.
“That is the equivalent of 100 per cent derivation. For us, as we’re working on these tax reforms. We said if we get states to start collecting VAT in Nigeria, it will be chaotic for business because we know for a fact that states in Nigeria will not respect input-output.
“So we said, how can we make everybody at least comfortable and address inequity? What did we identify? As of today, when companies remit their VAT, they tend to remit from their head office because that’s where they have the finance department. So MTN, BUA, Dangote, Airtel, all the banks, most of them are headquartered in Lagos. Some of the oil companies are headquartered in Rivers State,” he stated.
Oyedele affirmed that the tax reforms became important seeing that there was no VAT in the Nigerian constitution.
He went on to warn that if the tax reform bills were withdrawn from the National Assembly, it would be hard to represent them as he feared that consultations would be frustrated.
The self-acclaimed Director-General of the disputed Presidential Foreign Intervention Promotion Council, PFIPC, Adeyemi Adeniyi, says he borrowed the N400 million to secured the job at the presidency.
Adeniyi made this revelation on Monday during zoom interview on ‘Politics Today’, a programme on Channels Television.
He said his creditors have reported him to the Economic and Financial Crimes Commission, EFCC.
He described the way some actors in government taking the matter as ‘unfortunate and embarrassing’, asking how only him could manoeuvre the entire Federal Government system.
“I borrowed this money, the N400 million, to pay for this appointment. In fact, those that I borrowed the money from have reported me to the EFCC to refund it,” he said.
When asked to react to the report that there is a United States lobbying firm helping him to seek an asylum, Adeniyi said, “I read it the way you read it.”
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May 18 primaries has come to a close, I appeal to all my people to support all APC candidates -Ize-Iyamu
Pastor Osagie Ize-Iyamu has beckoned on all his loyalists to support All Progressives Congress APC candidates after the party formally endorsed all Edo State candidates.
This was contained in a statement he personally signed encouraging his loyalists in Edo South to throw their weights behind all APC candidates.
Hear him:
“Following wide-ranging consultations with our leaders, party members, supporters, women, youths, and well-wishers across Edo South, Nigeria, and the diaspora, I address you today(Monday ) with profound gratitude, humility, and an unwavering commitment to the unity and progress of our great party.
“The APC Edo South Senatorial Primary held on May 18, 2026 has come to a close. Our party has completed its democratic process, and a candidate has emerged. I accept the decision of our party in good faith and appeal to all our members, followers and friends to do same.
“The All Progressives Congress is greater than any individual ambition. It is a platform built on service, sacrifice, discipline, and our shared commitment to a better future for our people. Political contests may test our preferences, but they must never diminish our common purpose.
To every supporter, coordinator, volunteer, grassroots mobiliser, and everyone who stood with us throughout this journey, I offer my heartfelt appreciation. Your loyalty, sacrifices, encouragement, and prayers have been a constant source of strength. I remain deeply grateful for your confidence and steadfast support.
I wish to specially thank our brothers and sisters in the diaspora across party lines for the overwhelming support they gave my senatorial bid and assure them of my continous commitment to the development and progress of our district. I urge every one of you to remain peaceful, reject division, and continue to uphold the values that have always defined our people.
Now is the time to reconcile, close ranks, and focus on the greater task before us. Our collective responsibility to serve the people of Edo South is far greater than any individual aspiration. As we move forward, I remain committed to working with our leaders, stakeholders, and party faithfuls to strengthen the APC, secure victory in the general election, and advance the development and well-being of Edo South Senatorial District.
The contest is behind us. The future is before us. Let us move forward with one resolve, and one commitment- to build a stronger APC and a more prosperous Edo South.
Thank you for your prayers, your loyalty, and your unwavering support throughout this journey.
History will not remember the contest we fought; it will remember the future we built together. Let us unite. Let us serve. Let us win for the APC, for Edo South and for the people of Edo State.
God bless the All Progressives Congress. God bless Edo South Senatorial District. God bless Edo State.
God bless the Federal Republic of Nigeria. Oba gha to kpere, ise
The Senate Committee on Finance has opened a fresh scrutiny of the Federal Government’s import duty waiver regime after the Nigeria Customs Service (NCS) disclosed that the value of Import Duty Exemption Certificates (IDECs) issued since March 2020 rose to about ₦34 trillion by 2025.
The committee also threatened sanctions against the heads of several Ministries, Departments and Agencies (MDAs), including the Nigerian Civil Aviation Authority (NCAA), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Industrial Training Fund (ITF) and the Federal Medical Centre (FMC), Jabi, for failing to appear before its investigative hearing on revenue remittances.
Appearing before the committee on Monday, Comptroller-General of Customs, Bashir Adewale Adeniyi, said the agency’s revenue performance had been significantly influenced by government fiscal policies, particularly import duty exemptions granted to strategic sectors.
He explained that about 60 per cent of the ₦34 trillion worth of duty waivers covered military hardware imported to strengthen Nigeria’s security architecture, while the remaining exemptions applied to imports of Compressed Natural Gas (CNG), electric and hybrid vehicles, medical equipment, industrial machinery, manufacturing inputs and food items under government intervention programmes.
Adeniyi maintained that duty waivers should not be assessed solely on the basis of revenue forgone, arguing that they were intended to promote broader economic and social objectives, including industrial growth, improved healthcare delivery and national security.
He, however, recommended stronger monitoring mechanisms to ensure beneficiaries of the incentives deliver the expected outcomes through increased production, lower prices and wider economic benefits.
The Customs boss also told lawmakers that the Service had generated about ₦4.5 trillion as of June 30, 2026, against an annual revenue target of ₦11.04 trillion.
However, the hearing exposed disagreements over Customs’ financial obligations after the Fiscal Responsibility Commission (FRC) alleged that the agency had an outstanding operating surplus liability of about ₦8.9 billion based on its 2019 audited accounts.
Customs officials rejected the claim, insisting that the figures required reconciliation.
The committee also turned its attention to the Corporate Affairs Commission (CAC) after the Fiscal Responsibility Commission alleged that the agency had failed to remit about ₦13.9 billion in operating surplus between 2023 and 2025.
Responding, the Registrar-General of the CAC, Hussaini Ishaq Magaji, acknowledged the outstanding liability but said the Commission had commenced gradual settlement of the amount.
To establish the actual figure, Chairman of the committee, Senator Sani Musa, directed the CAC, the Fiscal Responsibility Commission and the committee’s secretariat to reconcile their records and submit a comprehensive report within two weeks.
The committee also expressed displeasure over the absence of several invited agencies from the investigative hearing.
Senator Musa warned that the heads of the NCAA, SMEDAN, ITF, FMC Jabi and other defaulting agencies must appear at the next sitting or face sanctions under the Senate Standing Rules.
He stressed that agencies responsible for managing public resources have a constitutional obligation to account for revenues generated on behalf of the Federal Government and comply with legislative oversight.
PFIPC scandal: ‘I borrowed N400 million to secure the appointment’ – Adeyemi Adeniyi
May 18 primaries has come to a close, I appeal to all my people to support all APC candidates -Ize-Iyamu
Senate investigates N34tn Duty Waivers, Threatens Sanctions for Defaulting Agencies
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