Connect with us

Business

FIRS Records N140bn Shortfall In First Qtr

Published

on

 L-R: APC National Ex-officio, Hajiya Fati Mohammed, Adamawa  State Commissioner For Women Affairs, Hajiya Halima Hayatou, and the newly elected  Adamawa  State  APC Chairman , Mrs Binta Masi, during her endorsement at the rescheduled state congress of the party in Yola recently.

L-R: APC National Ex-officio, Hajiya Fati Mohammed, Adamawa State Commissioner For Women Affairs, Hajiya Halima Hayatou, and the newly elected Adamawa State APC Chairman , Mrs Binta Masi, during her endorsement at the rescheduled state congress of the party in Yola recently.

The Acting Executive Chairman of the Federal Inland Revenue Services (FIRS), Alhaji Kabir Mashi, has said that the service recorded a shortfall of N140 billion in revenue collection in the first quarter of the year.
Speaking at the operational management meeting of its Eastern Region in Owerri  Mashi said the drop in revenue was recorded in the non-oil tax.
He said the service realised a total non-oil tax of N418 billion between January and March as against the target of N558 billion.
According to him, the non-oil collection dropped from N155 billion in January to N133 billion in February and further down to N130 billion in March.
“These results are not impressive and we must do everything possible to ensure that we reverse this negative collection trend,” he said.
Mashi said the current focus of the Federal Government was to raise non-oil revenue to the level of making up for any shortfall from oil revenue.
He said the service also needed to justify the support it had been getting from the government.
He urged the staff to focus on deliberations on service delivery and maximising the tax revenue potential in their areas of operation.
He explained that the programme was based on eight key initiatives which included auditing, arrears and debt enforcement, tax exemption, evasion of rental taxes and taxing high net worth transactions.
Others were registration, filing and utilising communications as a means of enhancing compliance.
Marshi said the service had conducted a nationwide value added tax and withholding tax audits and that the results had started coming in.
“We will be proactive in reviewing returns as they come in and following up to ensure that taxpayers pay up their assessments within the time allowed in our laws.
“Thereafter, we will follow up the audit returns without allowing a backlog to pile up,” he said.
Earlier in his address, the Coordinating Director of Field Operations Group at the FIRS, Mr Ajayi Bamidele, said the service would strive to collect N700 billion revenue in the second quarter to make up for first quarter’s poor performance.
He presented the analysis of the non-oil collection report from the six departments of the service, particularly from the Eastern Region and South East Zonal Government Business office.
He said that from the analysis, the Eastern Region was top in performance with 62 per cent, with Owerri area operations recording the best performance with 110 per cent.
Bamidele said his office had adopted the development of standard check list for field offices.
to ease response to headquarters, monitoring visits and fast tracking conclusion of audit cases as measures to ensure high performance of staff members.
Bamidele identified some of the challenges facing field operations as deterioration of work ethics and values and the failure of supervising officers to take responsibilities.

Continue Reading

Business

Pipeline Explosion In Abua Odua, LGA Chair Calls For Calm

Published

on

Fresh explosions have hit oil and gas pipelines in Odau Community, in Abua/Odual Local Government Area of Rivers State, triggering a major security and  environmental crisis that has forced residents to abandon their homes.
The first incident occurred  along the Kolo Creek – Rumuekpe crude oil pipelines, operated by Renaissance Africa Energy Company Limited.
This was followed by a gas pipeline explosion on the Ogboinbiri – Obirikom Gas Pipeline, operated by Oando Plc, in the same week.
In a statement by the Abua/Odual Council Chairman, Hon. Owolobi Michael Ofori said  the blasts, suspected to be the handiwork of militants, have unleashed persistent gas leakage in the area, raising fears of fire outbreaks and toxic exposure as residents of Odau have largely deserted the community due to the dangerous situation.
According to him, some residents of the area have been hospitalised after inhaling the leaking gas, adding that the impact has spread to neighbouring communities, including Obedum, Emirikpoko, and Anyu in Abua/Odual LGA, as well as Oruma and Ibelebiri in Bayelsa State.
Hon. Ofori expressed deep concern over the plight of the affected residents and urged the operating companies to act swiftly.
The Council expressed its deepest sympathy to all affected persons and communities and remained gravely concerned about the safety, health, and welfare of residents whose lives and livelihoods have been disrupted by these incidents.
“We call on Renaissance Africa Energy Company Limited and Oando Plc to immediately deploy all necessary technical and emergency response resources to contain the fires, halt the gas leakage, secure the affected pipeline corridors, and mitigate further environmental and public health risks.” the Council Chairman Said.
The chairman also appealed to the two oil firms to provide immediate humanitarian assistance and relief materials to the displaced residents while work continues to restore normalcy.
The Council Chairman said he is working closely with security agencies and emergency responders to monitor the situation and coordinate necessary interventions.
The Council Boss advised Residents of the Local Government Area to remain calm, cooperate with authorities, and adhere strictly to safety directives.
Ofori further called on the National Emergency Management Agency (NEMA), the National Oil Spill Detection and Response Agency (NOSDRA), the Rivers State Government, and other relevant bodies to intervene urgently to prevent  loss of lives and environmental damage.
Hon. Ofori assured that the council remains committed to the protection and welfare of its people and will continue to engage all stakeholders to resolve the crisis.
Enoch Epelle
Continue Reading

Business

Fidelity Bank Collaborates YEIDEP To Empower Nigerian Students

Published

on

Fidelity Bank Plc has reaffirmed its commitment to youth empowerment, financial inclusion and entrepreneurship through a strategic partnership with the Youth Economic Intervention and De-radicalization Programme (YEIDEP), a Federal Government-backed initiative aimed at equipping young Nigerians with the skills, support and opportunities needed to build sustainable livelihoods.
Under the partnership, the bank will support the enrolment of students and young people into the YEIDEP programme, which is designed to tackle youth unemployment, promote enterprise development and expand economic participation among Nigeria’s growing youth population.
The next phase of the initiative is scheduled to end today at Nnamdi Azikiwe University, Awka, where the enrolment exercise for students and youths across the South-East that started since July 1st would be concluded at the university’s Convocation Arena.
The exercise is expected to reach more than 60,000 regular undergraduate students.
Speaking on the partnership, Fidelity Bank’s Divisional Head, Product Development, Osita Ede, said youth empowerment remains central to the bank’s vision of building a more inclusive and prosperous society.
He noted that Nigeria’s youths represent the country’s greatest asset and stressed that providing them with the right skills, opportunities and financial support is critical to unlocking their potential and driving national development.
According to Ede, the bank continues to provide young Nigerians with tools for success through its digital banking platforms, financial literacy initiatives, youth-focused products and strategic partnerships.
He added that Fidelity Bank recognises that limited access to funding, mentorship and business development support remains a major challenge for many aspiring entrepreneurs, and is committed to creating pathways that will help them overcome these barriers.
The bank said its support for YEIDEP aligns with its longstanding commitment to empowering Micro, Small and Medium Enterprises (MSMEs), which it described as key drivers of economic growth and job creation in Nigeria.
Interested students and youths have been encouraged to open Fidelity Bank accounts and register for the programme through the bank’s dedicated online portal.
Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

NPA Launches Multi-Agency Taskforce To Combat Apapa Traffic Gridlock

Published

on

The Nigerian Ports Authority (NPA) has launched a multi-agency task force to combat the resurgence of traffic gridlock choking the Lagos Port access roads, in a fresh push to restore seamless cargo evacuation and sustain recent gains in Port efficiency.
The intervention followed a stakeholders’ meeting convened by the Managing Director of  NPA, Dr. Abubakar Dantsoho, on June 23rd, 2026, where security agencies, freight forwarders, truck operators and representatives of the Lagos State Government agreed on coordinated measures to eliminate the bottlenecks disrupting cargo movement.
At the meeting, stakeholders identified illegal extortion points, overlapping responsibilities among security agencies and other operational distortions as major factors responsible for the renewed congestion along the port corridor.
Speaking on the outcome of the meeting, the NPA’s General Manager, Corporate and Strategic Communications, Mr. Ikechukwu Onyemakara, said the Authority’s overriding priority is to guarantee the unhindered movement of cargo to and from the nation’s seaports.
According to him, the task force comprises the NPA, the Police, the National Association of Government Approved Freight Forwarders (NAGAFF), the Association of Nigerian Licensed Customs Agents (ANLCA), the Federal Road Safety Corps (FRSC), the Maritime Workers Union of Nigeria (MWUN), the Nigerian Association of Road Transport Owners (NARTO) and the Association of Maritime Truck Owners (AMATO).
“The responsibility of the task force is to monitor truck movement on the Port access roads on a regular basis, identify any disruption capable of causing gridlock and immediately resolve such challenges,” Onyemakara said.
He stressed that members of the task force would not establish checkpoints along the corridor but would maintain strategic presence at designated locations to ensure compliance without obstructing traffic.
To enhance rapid response, Onyemakara disclosed that the task force has created a dedicated WhatsApp platform through which members can instantly report infractions or emerging traffic issues for immediate intervention.
On the long-delayed renewal of the Electronic Truck Call-Up (ETO) system contract, the NPA spokesman said the Authority is reviewing the terms to ensure a more robust contractual framework before awarding a fresh agreement.
He explained that although the previous contract had expired, the ETO platform remains operational under the management of the Truck Transit Parks (TTP) pending completion of the procurement process.
He expressed confidence that the renewal would be concluded soon.
Reaffirming the Authority’s commitment to maintaining free-flowing Port access roads, Onyemakara said efficient logistics remain central to the NPA’s drive to improve Nigeria’s Port competitiveness and preserve its growing international reputation.
“We are more interested in the free flow of logistics into our ports than anyone else because it is in our own interest,” he said
Nkpemenyie Mcdominic, Lagos
Continue Reading

Trending