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Oluwafemi Awodele
14 hours ago
Overview
The Federal Government has refuted claims that the Nigeria Tax Act 2025 imposes a 25 per cent levy on building materials, construction funds, or bank balances.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, made the clarification in a statement issued on Sunday via X, in response to a viral video of former Minister of Transportation, Rotimi Amaechi.
Amaechi, while addressing crowd during a gathering, warned of impending economic hardships if the All Progressives Congress retains power in the 2027 elections.
“The tax law is if I pay you 100 million Naira for your building materials, automatically 25 million will leave your account.
more: https://punchng.com/no-25-levy-on-building-materials-in-tax-act-fg-counters-amaech
