ADVERTISEMENT
  • Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, September 13, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • All
    • Athletics
    • Basketball
    • Boxing
    • Esports
    • Football
    • Olympics
    • Paralympics
    • Tennis

    Arsenal Ruin Postecoglou Nottingham Forest’s Debut With 3-0 Win

    Crouser Wins 3rd Successive World Shot Put Title

    US Wins Another 4x400m Mixed Relay Gold In Tokyo

    2025 WAC: Chukwuebuka Secures Third Consecutive Shot Put Final Spot

  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • All
    • Athletics
    • Basketball
    • Boxing
    • Esports
    • Football
    • Olympics
    • Paralympics
    • Tennis

    Arsenal Ruin Postecoglou Nottingham Forest’s Debut With 3-0 Win

    Crouser Wins 3rd Successive World Shot Put Title

    US Wins Another 4x400m Mixed Relay Gold In Tokyo

    2025 WAC: Chukwuebuka Secures Third Consecutive Shot Put Final Spot

  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Tax Bills: TUC Warns Against NRS Royalty Collection Role In Oil, Gas Sector

by Adegwu John
8 months ago
in News
TUC
Share on WhatsAppShare on FacebookShare on XTelegram

The Trade Union Congress of Nigeria (TUC) has expressed concerns over certain provisions in the proposed Tax Reform Bills, warning that some changes could negatively impact the nation’s economy.

Advertisement

TUC president, Comrade Festus Osifo, made the congress’s position known in a statement yesterday, stating that assigning the collection of royalties in the oil and gas industry to the Nigeria Revenue Service (NRS), a function currently handled by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) could undermine investors’ confidence in the sector.

While the TUC welcomed the federal government’s decision to maintain the VAT rate at 7.5% and ensure continued funding for TETFUND and NASENI, the labour leader called for the need to address unresolved concerns, particularly the proposed shift in royalty collection responsibilities.

The labour centre warned that transferring the role of royalty collection from NUPRC to NRS could result in significant revenue losses due to the technical nature of the task.

Osifo further explained that royalty determination and reconciliation require specialised expertise in oil and gas operations, which he noted that NRS currently lacks.

Related News

‘No Regrets Serving With Yahaya Bello’, Says Ex-Kogi Deputy Governor Onoja

3 hours ago

‘Take Fidelity Oath Or Face DNA Test Challenge’, Soludo’s Wife Dares Senator Ekwunife

3 hours ago

The TUC also advocated increasing the tax exemption threshold from N800,000 per annum to N2.5 million to relieve low-income earners.

The congress argued that this would help alleviate the economic hardships faced by many Nigerians and enhance their disposable income.

Osifo commended the inclusion of a derivation component in VAT distribution among the three tiers of government and described it as a move that could stimulate productivity at the sub-national level and reduce Nigeria’s dependence on rent-seeking economic models.

 

He said, “The proposed bill assigning royalty collection to NRS appears beneficial on the surface but would most likely result in significant revenue losses for the government.

 

It could also create regulatory burdens, increase compliance costs for industry players, and reduce investor confidence due to overlapping functions and inefficiencies between NUPRC and NRS”.

 

“While we deeply appreciate the federal government’s efforts to listen and adjust to our advocacy, we still advocate that the above concerns be considered and adopted in the Tax Reform Bill, they will be highly beneficial to the government and Nigerian populace.

 

“The Trade Union Congress of Nigeria has a shared responsibility to promote policies that improve the lives of Nigerians, including workers. We believe that proactive measures when implemented, benefit citizens to the maximum extent and are evidence of great and sincere leadership,” the statement reads.

 

Join Our WhatsApp Channel

Tags: OilTrade Union Congress of Nigeria (TUC)
SendShare10177Tweet6361Share

Other News Updates

News

‘No Regrets Serving With Yahaya Bello’, Says Ex-Kogi Deputy Governor Onoja

2025/09/13
News

‘Take Fidelity Oath Or Face DNA Test Challenge’, Soludo’s Wife Dares Senator Ekwunife

2025/09/13
News

Yahaya Bello Told Me I Had Capacity Bigger Than Being Kogi Governor — Onoja

2025/09/13
News

For 4 Years Ex-Governor Bello Told Me I Will Succeed Him Until A Day To Primaries — Edward Onoja

2025/09/13
News

Sanwo-Olu Urges Youths To Embrace Integrity, Shun Procrastination

2025/09/13
News

Mobile Court Convicts 46 Offenders Over Traffic Violations

2025/09/13
Leadership Conference advertisement

LATEST

Blocking Natasha From Voting In 2023 Was Political Error By Ex-Governor Bello — Onoja

‘No Regrets Serving With Yahaya Bello’, Says Ex-Kogi Deputy Governor Onoja

‘Take Fidelity Oath Or Face DNA Test Challenge’, Soludo’s Wife Dares Senator Ekwunife

Yahaya Bello Told Me I Had Capacity Bigger Than Being Kogi Governor — Onoja

For 4 Years Ex-Governor Bello Told Me I Will Succeed Him Until A Day To Primaries — Edward Onoja

Sanwo-Olu Urges Youths To Embrace Integrity, Shun Procrastination

Mobile Court Convicts 46 Offenders Over Traffic Violations

DAPPMAN Slams Dangote Refinery For Slashing Petrol Prices

Flood Sacks 500 Households In Kaduna

100,000 Join Tommy Robinson’s Far Right Rally In London

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.