Garba Shehu
Featured

Nigerian Presidency says FIRS boss, Fowler, not being investigated

158

The Nigerian Presidency clarifies Monday that Federal Inland Revenue Service chair, Babatunde Fowler is not being investigated, following a query issue by the Chief of Staff to the President, Abba Kyari, asking Fowler to explain revenue shortfalls in three year period.

Spokesperson for President Muhammadu Buhari on Garba Shehu, confirmed in a signed statement that Fowler is being asked to explain the tax agency’s failure to meet its collection targets since 2015, because “it would appear that the country might be heading for a fiscal crisis if urgent steps are not taken to halt the negative trends in target setting and target realization in tax revenue.”

Garba’s statement indicates that that presidency is worried that “projected revenue of government  falls behind recurrent expenditure even without having factored in capital expenditure” and therefore seeks ways to increase revenue.

It will be recalled that Nigeria proposed to increase Value Added Tax (VAT) by up to 50 per cent (from current 5 per cent to 7.5 per cent), a move analysts say could spike inflationary pressure in the economy.

Additionally, Fowler in June announced that the tax agency is putting together a plan seeking to direct banks in Nigeria to impose VAT on online transactions for purchase of goods and services.

Leave a comment

Related Articles

Nigeria-British Chamber of Commerce inagurates Atelly as 18th President, unveils programmes

Ray Atelly has been sworn in as the 18th President of the...

Kano guber poll ‘clerical error’: An Appeal Court judgment in a mire of controversy

The past few months have been characterized with legal tussles over the...

Why I did not walk out of Super Falcons before FIFA female World Cup – Waldrum

In a recent podcast interview with ‘On The Whistle’ podcast. Randy Waldrum,...

Niger’s ousted president is being denied food and electricity, says European Union

The European Union Friday said it had “deep concern” about the treatment...

Breaking: Ex-Kaduna Gov. El rufai might reject ministerial appointment 

The immediate past Governor of Kaduna State, Malam Nasir El rufai is...

President Tinubu appoints Ajuri Ngelale as special adviser media & publicity

President Bola Ahmed Tinubu, GCFR, has approved the appointment of Chief Ajuri...

Are ‘balloons’ the new drug epidemic in Nigeria?

They may look like the normal balloons you see at children’s birthday...

From Fame to Penury: The Despicable Tales of Nigerian Veteran Thespians

The entertainment industry, particularly the movie circle, has been in the eye...

Content creation is the new oil, says Broda Shaggi in an exclusive interview with PSN

There are not many in the class of Samuel Animashaun Perry otherwise...

Hubby’s watery sperm, erectile dysfunction crash two-month-old marriage

A husband’s watery sperm has forced his wife to urge the court...

Max Air Acquires 16 Year Old Boeing 777-200

Kano based Max Air Limited has taken delivery of its first Boeing...

From waste collection to classroom: Story of Adamu’s pursuit of education

Coming from the background of a family of seven children and parents...

Fuel Subsidy: Need for Labour to tread softly, Softly 

The Labour Movement in Nigeria is up in arms against the Federal...

Between the dialectics and the benefits of petroleum subsidy removal

By Paul Njowusi For many years, successive administrations in Nigeria had embraced...

Kudos, knocks for courts’ ruling clearing the coast for Tinubu’s May 29 inauguration – PSN exclusive

By Ajuma Edwina Ameh and Samuel Akpan …the body language of the...

Buhari inaugurates N19.6bn Customs corporate hqts in Abuja, says new Customs Act will drive efficiency

With the newly signed Customs Act and a befitting corporate headquarters for...

Africa’s largest refinery, Dangote Petroleum Refinery and Petrochemicals, Lekki-Lagos inaugurated

Africa’s largest refinery, Dangote Petroleum Refinery and Petrochemicals planted in Ibeju-Lekki area...