Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has clarified that the new tax law is intended to support rather than harm the aviation industry. His clarification follows a recent claim by the Chief Executive Officer of Air Peace, Allen Onyema, that the reform will hurt the industry. Contrary to misconceptions, …
Filling stations in Abuja have lowered petrol prices following the federal government’s suspension of a planned 15% import duty on petrol and diesel. On Friday, Ranoil and Empire stations reduced prices to N940 and N949 per litre, down from N955, representing a drop of N6 to N15 per litre. Chinedu Ukadike, spokesperson for the Independent …
By Esther Ososanya The Nigeria Customs Service (NCS) has uncovered a massive violation of the Temporary Admission Permit (TAP) scheme, with 223 companies defaulting in ways that could cost the nation over ₦379.6 billion in unpaid customs duties. In a statement issued Friday, July 25, the Service granted a 21-day grace period, beginning Monday, July …
