She stated this on Thursday at the presentation of the President Muhammadu Buhari administration’s scorecard (2015-2023).
The minister noted that Nigeria has not in anyway defaulted in both its domestic and foreign debt repayments, and that the country wass not opting for debt relief.
She further stated that the country continues to disburse funds to the three tiers of government from the Federation Accounts Allocation Committee (FAAC) and that the federal government had since 2015, disbursed N5.04 trillion to state governments.
Ahmed pointed out that the non-oil sector drives the country’s economy more than the oil sector as a result of to vandalism of infrastructure.
She, however, said oil production is increasing and as at October 2022, it rose to 1.4 million barrels per day.
Releases for this year’s capital projects, according to the minister, were to the tune of N1.7 trillion as of September 2022.
TaxPro Max: FIRS grants waiver on interests, penalties
The Federal Inland Revenue Service (FIRS) has approved a one-off waiver for all outstanding interests and penalties imposed on established tax liabilities by the TaxPro Max until December 31, 2022.
TaxPro Max is a solution for filing tax returns and paying taxes introduced and deployed by the FIRS in June 2021.
In a public notice released on Thursday and signed by its executive chairman, Muhammad Nami, the FIRS said the TaxPro Max had enhanced the ease of paying taxes in Nigeria and reduced the cost of tax compliance for taxpayers.
It also said the impact of the TaxPro Max has greatly contributed to the efficiency of tax collections and the record-breaking performance of the service in 2021.
The agency however said the one-off waiver was granted due to complaints from taxpayers who said additional interests and penalties were imposed on them while generating payment reference numbers (PRN) on liabilities.
“Pending the resolution of the concerns expressed by taxpayers, the service has approved a one-off waiver of all outstanding interests and penalties imposed by TaxPro Max on liabilities emanating from monitoring, desk review, tax audit and tax investigation exercises until 31st December 2022,” the notice reads in part.
The FIRS, therefore, advised taxpayers to take advantage of the waiver and pay all their outstanding tax liabilities.
The agency pointed out that failure to pay the outstanding tax liabilities on or before the deadline would leave the service with no other option than to apply the relevant provisions of the law in recovering all outstanding taxes due.
