Business
FIRS Set To Implement New Tax
The Federal Inland Revenue Service (FIRS) would soon be implementing a Presumptive Tax Regime to get more Nigerians, especially those in the informal sector, to pay tax
Acting Executive Chairman, FIRS, Alhaji Kabir Mashi made the declaration in Abuja at a stakeholder’s sensitisation workshop.
He said that the idea of the regime was to help the informal sector to keep their books and records and to enable them to understand the tax system and how to use it to improve their business.
He said no amount had been fixed as possible tax under the regime, but noted that more money would be collected for the government in the process stressing that “it is our belief that if we are able to implement a workable presumptive tax regime, it will create improved and easy access to tax system for the large pool of taxpayers in the informal sector.
He said this will enable us to not only grow that tax base across the three tiers of government, but more importantly, improve tax collection from non-oil tax revenue stressing that if we are able to do this successfully, we will be contributing to the overall development of the Nigerian tax system and the Nigerian economy.’’
Mashi said the FIRS had examined the experiences of other countries and tried to tailor collectable tax from the informal sector to be in consonance with Nigeria’s peculiarities.
“This is necessary because of our peculiar situation, where we have three taxing levels – the federal, the state and local government, whereas most of our tax laws are federal laws, but administered across the three tiers of government.
“In addition to this, we have a large pool of taxpayers and potential taxpayers in the informal sector in Nigeria who can contribute significantly to tax collection if they are properly assisted to comply with the laws,’’ he added.
He said that it was necessary to ensure that the compliance was attractive to encourage each taxpayer to participate and to be treated fairly.
He urged participants to seize the opportunity of their attendance at the workshop to make useful contribution to enable the FIRS to evolve the most appropriate way of administering a presumptive tax regime in Nigeria and also to harness its benefits.
FIRS Coordinating Director, Standards and Compliance Group Mr. Andy Ejemeyovwi, in his contribution, said that the initiative was critical to the development of tax system in the country.
He noted that evasion had remained an issue in Nigeria’s tax system, adding that there was the need to tackle it for the growth of the economy.
“In order to find a lasting solution to this teething problem of taxation in Nigeria, FIRS management has considered the various submissions of the Presumptive Tax Regime and approved the hosting of this sensitisation workshop in order to expose the thinking of the relevant authorities in the administration of Presumptive Tax Regime in Nigeria.
“How best can we handle the various problems limiting the smooth administration of presumptive tax in the informal sector as well as help effective traders to maintain some records of transactions generated and assist them to know whether they are running at a loss or making profit?
“This is on the way to getting them appropriately taxed.’’
He said Ejemeyovwi said that the initiative had worked very well in most West African countries and expressed the hope that it would be implemented effectively in Nigeria.
He urged tax administrators to make adequate contribution that would help to adopt best policies that would aid the smooth implementation of the regime in the country.
Also, Chairman Plateau State Board of Internal Revenue, Mrs. Rauta Jat, said that states’ tax administrators had problems with accessing the informal sector.
She said that the idea of the Presumptive Tax regime was an idea in the right direction as the states would benefit more from it.
“We are happy that the FIRS and the Joint Tax Board have decided to address this issue speedily.
In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.
Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
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· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
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· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
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· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.
The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.
Nkpemenyie Mcdominic, Lagos