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President Tinubu signs executive orders on fiscal policy

President Bola Ahmed Tinubu has signed four (4) Executive Orders to suspend provisions in the Finance Act (FA) 2023 and the Fiscal Policy Measures 2023. Details of the Executive Order are: Finance Act (Effective Date Variation) Order, 2023 shows a…

Finance Bill 2021 reaches Senate

On 7 December 2021, President Muhammadu Buhari released the Finance Bill 2021 (FB 2021) to the National Assembly for passage. Finance Bill 2021 seeks to amend and introduce relevant tax and fiscal laws for macroeconomic policy reforms and public financial…

Finance Act 2020 Nigeria: An overview

There’s a recent update to fifteen laws covering tax as well as non-tax laws in Nigeria. On 31 December 2020, President Muhammadu Buhari approved the 2021 Appropriation Bill and Finance Act 2020. The Finance Act 2020 amends some provisions in…

Nigerian Senate passes 2021 Budget adds N505b expenditure

The Nigerian Senate passed the 2021 Budget containing an additional expenditure of NGN505billion (+3.84%) on 21 December 2020. President Buhari presented the 2021 Budget to the National Assembly in October 2020, and the amount for expenditure was NGN13.08 trillion. Revised…

EndSARS: FIRS Nigeria grants tax palliative

While Nigeria was trying to recover from the economic disruption from the COVID-19 pandemic, another nationwide lockdown emerged in October 2020. The lockdown was an outcome of the EndSARS protest. EndSARS is a movement to stop police brutality in Nigeria…

President Buhari presents 2021 Budget to National Assembly

On 8 October 2020, President Mohammadu Buhari presented the 2021 Budget to the National Assembly. The estimate for expenditure is NGN13.082 trillion, while revenue is NGN7.886 trillion. The fiscal deficit is NGN5.196 trillion: an increase of 4% compared to the…

Lagos State reverses Land Use Charge to pre-2018 rates

Further to the tensions of Lagosians on the exorbitant rates for land use charge, the Lagos State Government has issued a reform that will ease the financial burden of residents. The Lagos State Government (LASG) has, therefore, reversed the rates…