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States Angry As NNPCL Deducts $525M From FIRS Remittances For Road Tax Scheme
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By Kayode Sanni-Arewa
The Nigerian National Petroleum Company Limited (NNPCL) has deducted a total of $525.09 million from its remittances to the Federal Inland Revenue Service (FIRS) under the Road Infrastructure Tax Credit Scheme (RITCS), igniting anger among state governments.
According to a Federation Account Allocation Committee (FAAC) report from a January 2025 post-mortem sub-committee meeting, NNPCL made monthly deductions of $52.51 million from funds due to FIRS for Joint Venture Gas and Company Income Tax between February and November 2024.
The RITCS allows private companies to invest in critical road infrastructure in exchange for tax relief.
However, state representatives at the FAAC meeting objected to the deductions, arguing that road construction is the responsibility of the Federal Government.
In August 2024, FAAC members called for a suspension of the deductions, demanding that their share of the withheld funds be calculated based on the existing revenue-sharing formula and refunded.
During the FAAC plenary in Bauchi, members reiterated their stance, prompting the Chairman of the Revenue Mobilisation Allocation and Fiscal Commission to formally request detailed information from FIRS on the tax credits granted to NNPCL and other companies under the scheme.
According to the report, “The Sub-National position was that it is the responsibility of the Federal Government to construct roads; hence, the share of the Sub-National should be computed based on the existing Revenue Allocation Sharing Formula and refunded to them.”
The Road Infrastructure Tax Credit Scheme has been instrumental in projects such as the 32-kilometre Apapa-Oshodi-Oworonshoki-Ojota expressway.
However, state governments are now pressing for transparency and a resolution regarding the deductions.
The RITCS was introduced by the Nigerian government to encourage private sector investment in critical road infrastructure.
Under this scheme, companies can fund road construction or rehabilitation projects in exchange for tax credits, which reduce their tax liabilities. This approach aims to accelerate infrastructure development while easing the burden on public finances.
Why Did NNPCL Deduct $525 Million?
NNPCL deducted a total of $525.09 million from its remittances to FIRS over 10 months (February to November 2024) under the RITCS. The funds were meant to cover investments in road infrastructure, allowing NNPCL to offset these expenses against its Joint Venture Gas and Company Income Tax obligations.
State governments have expressed strong opposition to these deductions for several reasons.
For instance, states argue that the deducted funds should have been part of the revenues shared among the three tiers of government (federal, state, and local) through the Federation Account Allocation Committee (FAAC).
They demand their share of these funds, calculated using the existing revenue-sharing formula.
States contend that road construction is primarily the responsibility of the Federal Government. They question why funds meant for revenue distribution are being used for federal infrastructure projects.
Meanwhile, there is a demand for greater transparency regarding the tax credits granted under the RITCS, particularly to NNPCL and other companies.
During meetings, including the January 2025 post-mortem sub-committee and a plenary in Bauchi, FAAC members reiterated their opposition to the deductions.
They demanded a suspension of the practice and a refund of the withheld funds. Consequently, the Chairman of the Revenue Mobilisation Allocation and Fiscal Commission requested detailed information from FIRS about the tax credits granted under the scheme.
The RITCS has been crucial in financing major infrastructure projects, such as the 32-kilometre Apapa-Oshodi-Oworonshoki-Ojota expressway.
News
Fake Agency: PFIPC Never Recognised by FG – Foreign Ministry
…as House committee invite NSA, insist Ambassador Odumegwu-Ojukwu must appear
By Gloria Ikibah
The Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu has told the House of Representatives that the Presidential Foreign Investment Promotion Council (PFIPC) and the Presidential Economic Advisory Council (PEAC), allegedly headed by Prince Adeniyi Adeyemi, were never recognised by the Federal Government.
The minister also revealed that the Office of the National Security Adviser (ONSA) had, in November 2025, officially confirmed that both the Office of the Secretary to the Government of the Federation (OSGF) and the Chief of Staff to the President had no knowledge of either the council or its self-acclaimed Director-General.
The disclosure was made on Tuesday during the resumed investigative hearing of the House Ad-hoc Committee probing the circumstances surrounding the existence and operations of the controversial council.
Naijablitznews.com recalled that the committee was set up following concerns that the body allegedly operated under the guise of a presidential institution, participated in government processes and sought official recognition despite questions over its legal status. Lawmakers are investigating how the council allegedly secured access to public institutions and whether due process was followed.
Representing the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, the Permanent Secretary of the ministry, Ambassador Dunoma Umar Ahmed, said Prince Adeyemi wrote to the ministry on three separate occasions seeking collaboration and endorsement to host a World Investment Summit in Nigeria.
According to him, the ministry declined all the requests after identifying inconsistencies in the correspondence and initiated its own verification process.
He said: “I have the honour to most respectfully refer to your letter addressed to the Honourable Minister of Foreign Affairs Ref. No. NASS/HR/68/7/2026/012 dated 14th July, 2026 on the above subject and to invite the kind attention of the Honourable Chairman to note that, in line with available records, Prince Adeniyi Adeyemi, the self-acclaimed Director-General of the Presidential Economic Advisory Council/Presidential Foreign Investment Promotion Council (PEAC/PFIDC), has approached the Ministry on three (3) different occasions, requesting for the Ministry’s collaboration and endorsement to enable him host World Investment Summit in Nigeria, both in 2025 and 2026.
“Specifically, the Ministry received the first, second and third requests on 26th June, 2025, 5th August, 2025 and 5th June, 2026 respectively,” he said.
Ahmed explained that the ministry deliberately withheld approval because it was obliged to carry out due diligence before granting any official endorsement.
“Guided by extant rules and regulations as well as the necessity of carrying out due diligence before obliging any request, the Ministry, however, did not take any action on the requests.
“The Ministry’s refusal to oblige the requests was further necessitated by some of the discrepancies observed in the letters submitted by Prince Adeyemi and the ongoing investigation on the legitimacy of the PFIPC and the personality of its alleged Director-General,” he added.
He further disclosed that after noticing the inconsistencies, the ministry formally sought clarification from the Office of the National Security Adviser.
“Furthermore, it is pertinent to state that having discovered the discrepancies on the requests submitted by Prince Adeyemi, the Ministry, on 16th October, 2025, wrote a letter to the Office of the National Security Adviser (ONSA), requesting clarification on the status of Prince Adeyemi Adeniyi Matthew as Director-General of the PFIPC.
“In response, the ONSA reverted to the Ministry on 26th November, 2025, indicating that the responses it received from the Office of the Secretary to the Government of the Federation (OSGF) and Chief of Staff (CoS) to Mr President revealed that Prince Adeniyi Adeyemi Matthew is unknown to any office of the Federal Government,” he stated.
The Permanent Secretary told lawmakers that the ministry had no official dealings whatsoever with the council.
“The Ministry did not participate in any diplomatic engagement, bilateral and multilateral discussions held by the PFIPC; the PFIPC did not facilitate or receive any foreign investors, partners and delegations through the Ministry.
“According to the available records in the Ministry, there is no document, Memorandum of Understanding or agreement signed with foreign governments by the Council. The Ministry did not play any role with the Council in promoting Nigeria’s investment abroad.
“No Nigerian Mission had interaction with the PFIPC, since they did not receive any directive from the Ministry in that regard, in line with the Ministry’s extant procedures and line of communication, and the Ministry does not have any other document linked to the PFIPC apart from the ones indicated above.
“Flowing from the above, I wish to respectfully conclude by saying that the Ministry has never had any official interaction or engagement with the PFIPC or its alleged Director-General,” Ahmed said.
Following the presentation, the committee directed the National Security Adviser, Mallam Nuhu Ribadu, to appear before it on Thursday to explain what actions his office took after confirming that the council was not recognised by the Federal Government.
The committee also insisted that the Minister of Foreign Affairs, Ambassador Odumegwu-Ojukwu, must personally appear before lawmakers to clarify outstanding issues.
Chairman of the committee, Rep. Yusuf Gagdi, said the testimony presented by the ministry raised important questions that only the Office of the National Security Adviser can answer.
“It is now the duty of the Committee to move further and invite the Office of the National Security Adviser to come and answer the very important question raised by Honourable Abubakar Fulata that the Ministry of Foreign Affairs received a letter from this agency under investigation, whether it exists or it doesn’t exist.
“What have you done as an office that have the power and capacity to make an investigation, further investigation in respect to this? He is to appear before this Committee, based on the fact that the Ministry of Foreign Affairs received correspondence from the suspended DG and they suspected foul play, discrepancies.
“NSA responded that it is an illegal agency. What has the Office of NSA done as a security office in forbearance to investigating? If they discovered that the agency does not exist, I think they should take action. So, they should tell us the action they have taken,” Gagdi said.
The committee is expected to continue its investigation as it seeks to establish how the controversial council allegedly operated within government circles despite repeated indications from key federal institutions that it had no legal recognition.
News
All You Need To Know About Kwara ADC Deputy Guber Candidate, Olawuyi Julius Olayide
Elder Olawuyi Julius Olayide was announced as Kwara State ADC deputy governorship candidate by the state chairman of the party Hon. Babatunde Mohammed after presiding over a strategic meeting in Ilorin on Monday.
The meeting was attended by the party’s governorship, senate, House of Representatives and House of Assembly candidates, and members of the State Working Committee.
The party in a statement made available to Team@orientactualmags.com by Dr. Kabir Abubakar Basambo presents the profile of the deputy governorship candidate.
‘Elder Olawuyi Julius Olayide was born in Offa, Offa Local Government, Kwara State, on January 20, 1960.
A proud son of Offa, a devout Christian, a respected family man, and a passionate community leader, he is happily married and blessed with children.
A distinguished educationist, Elder Olawuyi dedicated more than 34 years of his life to shaping the future of young people through quality education, exemplary leadership, and selfless service. He obtained his Nigeria Certificate in Education (N.C.E.) in Economics/Social Studies from the College of Education, Oro in 1984 and later earned a Bachelor of Arts in Education (B.A.Ed.) in Social Studies from the University of Ilorin in 1991.
Throughout his remarkable teaching career, he served with diligence and distinction in several reputable schools across Offa. He taught at Ansar ud-Deen College, Offa (1986–2005), Offa Community Secondary School (2005–2006), and Nawar-Ud-Deen College, Offa (2006–2011). He subsequently served as Vice Principal of Moremi High School, Offa (2011–2020), where he mentored, inspired, and positively impacted the lives of countless students before his retirement on 20th January 2020.
Widely admired for his integrity, humility, wisdom, and unwavering commitment to educational excellence and community development, Elder Olawuyi has earned the respect of colleagues, students, parents, and community leaders alike.
His wealth of experience in education, administration, and grassroots leadership makes him an outstanding public servant.
Today, as the Deputy Governorship Candidate of the African Democratic Congress (ADC) in Kwara State, Elder Olawuyi Julius Olayide stands alongside Rt. Hon. Zakari Muhammed with a shared vision of building a prosperous, secure, and inclusive Kwara.
Together, they are committed to delivering people-oriented leadership, revitalizing education, empowering youths and women, strengthening the economy, and ensuring sustainable development for every community across the state.
News
“I fervently believe Obi will not go back on his one-term in office promise” – Rabiu Kwankwaso
The Vice-Presidential candidate of the Nigeria Democratic Congress (NDC) for the 2027 election, Rabiu Kwankwaso, has expressed confidence that the party’s presidential candidate, Peter Obi, will honour his pledge to serve only one term in office before handing over to a candidate from Northern Nigeria in 2031.
Obi, a Southerner, vowed to serve one term if elected President to complete the eight-year term of a Southerner that has been started by President Tinubu.
Speaking on Channels Television’s Politics Today on Monday, July 20, the former Kano State governor said he has no doubts that Obi will fulfill his agreement.Politics
Kwankwaso also disclosed that he and Obi have signed an agreement with the party and with each other.
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