Lawmakers to probe $2.9bn loss to tax waivers

The House of Representatives said on Tuesday that the country was losing an estimated $2.9bn (N571.3bn) yearly to tax waivers granted to multinational corporations and indigenous companies operating in Nigeria. Noting that this was a huge revenue loss to the country, it has ordered an investigation into such waivers with a view to either reducing or […]

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‘$2.9bn is lost annually to tax waivers’

About $2.9bn (N571bn) is being lost annually by the Federal Government to tax incentives given to some companies operating in the oil and gas sector under the Nigerian Liquefied Natural Gas consortium. The figure was released by ActionAid Nigeria on Tuesday in Abuja during the launch of its report entitled: ‘Leaking revenue: How a big […]

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