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eTranzact Promises Easy Onboarding, e-invoicing to Tax Payers

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eTranzact, a Nigerian fintech company, on Tuesday reiterated its commitment to facilitating same-day onboarding and ensuring easy, seamless e-invoicing uploads.

Executive Director of etranzact, Abubakar Achimugu, gave the promise at a Nigeria Revenue Service (NRS) E-invoicing Compliance Workshop and Stakeholders’ Engagement, organised by the etranzact, in Abuja.

Achimugu harped on the need for tax payers to comply easily using various solutions provided by the organisation.

The e-invoice is a digital representation of a transaction between a supplier and a buyer, which contains essential transaction details.

Details such as supplier and buyer information, item descriptions, quantities, prices, tax and total amounts.

The executive director said that to support the growth of the digital economy, the NRS intended to implement “e-invoices” in stages to enhance the efficiency of Nigeria’s tax administration.

“We at e-tranzact have had this collaboration with the NRS for so many years.

“We are the major platform that has been doing all the revenue collection in the country, especially on the VAT funds, which has been very exceptional, seamless, secured and safe.

“In respect to E-invoicing, we are moving away from the manual process to digitalisation. This is very seamless, it’s user friendly, regardless of your literacy level.

“This (E-invoicing) will also protect the average Nigerian from multiple taxation, such that as you are inputting and processing you are getting a notification to see what exactly you have paid for and documenting that process as well,” he said.

Achimugu said that the eTranzact offered round the clock supply and same day onboarding to facilitate effortless uploads of e-invoice to the NRS portal.

On the issues of infrastructural challenges in implementing E-invoicing, Mohammed Bawa, Project Manager, E-invoicing of the NRS said the project has been divided into phases to ease implementation.

“From the beginning of the project, we knew that there would be some challenges.

“The implementation in three different phases. The large tax payers, the medium and the emerging.

“We have a three year plan. Within the last one year, we have been speaking directly to only large tax payers, organising so many engagements for them to ease the adoption process because we know the transition is not that easy.

“Our focus for now is how to support tax payers to see how easily they can comply and that is why we have accredited so many service providers that will be there for the tax payers when they have challenges.

“We have been encouraging tax payers to always leverage on the services of these service providers like eTranzact.

“This is because they have undergone accreditation, process, and have demonstrated their solutions to us and we have endorsed it.

“They (the service providers) are in the best position to support the implementation and that is the only way the adoption of E-invoicing can be made seamless and easy to tax payers,” he said.

Bawa also noted that the NRS was doing its part to also directly engage with tax payers.

“We are providing so many channels for tax payers to reach out.

“We are coming up with a simulation portal that will allow the tax payers to simulate the generation of the invoice even before the implementation process begins.

“We also have an engagement portal on our website, so anyone can schedule an engagement with us when they have concerns,” he added.

Bawa also said that the NRS would continue to sensitise Nigerians on the projects and its benefits to the nation.

BUSINESS

Electricity Generation Improved to 4300MW from 3951MW, Says FG

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The Federal Government announced on Sunday that electricity generation improved from 3,951 MW to 4,300 between March 28 and April 10.

This is contained in a statement issued by Bolaji Tunji, Special Adviser to the Minister of Power on Strategic Communications and Media Relations in Abuja.

The gradual rise in generation output within the period, Tunji said, was in tandem with the assurance given by the Minister of Power, Adebayo Adelabu, at the Power Sector Working Group, where he pledged that electricity supply would improve within two weeks.

He explained that this improvement closely aligns with the steady increase in gas supply to thermal power plants, which rose from approximately 605 million standard cubic feet (mmscfd) to over 704 mmscfd within the same timeframe.

Tunji further stated that mechanical availability remained stable and even improved, peaking at over 7,796 Megawatts (MW) in early April, while operational availability rose from about 4,208MW to a peak of over 4,694MW, indicating enhanced efficiency in converting available gas into electricity.

“Inspite of minor fluctuations recorded on some days, the overall trajectory points to a gradual recovery in the power sector, driven largely by improved gas supply and better coordination among critical stakeholders,” he said.

Tunji also said that the strong correlation between gas availability and generation output underscores the importance of sustained interventions in the gas-to-power value chain, given Nigeria’s heavy reliance on thermal power plants.

”To consolidate the gains recorded so far, the minister recently inaugurated a Gas-to-Power Monitoring Committee to ensure improved coordination, real-time monitoring, and sustained gas supply to generating companies.

“The committee is expected to address bottlenecks in gas delivery, enhance synergy between gas producers and power generation companies, and ultimately guarantee a more stable and reliable electricity supply across the country, “he said.

“The minister remains committed to ensuring that the modest gains recorded are not only sustained but significantly improved upon in the coming weeks,” he said.

Tunji assured Nigerians that ongoing reforms and targeted interventions in the sector would continue to yield measurable improvements in power generation and supply, in line with the administration’s broader objective of stabilising the nation’s electricity sector.

“We are not there yet, but we will continue to ensure measurable improvements, “he said.

Tunji also said that the minister urged the new management of the Nigeria Electricity Management Services Agency (NEMSA) to focus on improving its Internally Generated Revenue (IGR).

The minister spoke during the visit of the newly appointed Managing Director of the agency, Olusegun Adesayo and the chairman of the Board, Ikechi Nwosu to his office at the weekend.

Adelabu said that the agency should focus on improving IGR while reducing dependence on appropriation, especially in funding their operational cost.

He also urged the management to look into establishing more meter testing centres across the country in order to enhance and improve on their role.

While expressing confidence in the new management, he assured that the full board would be inaugurated soon.

“I have no doubt about your ability and I can also say that with your appointment by the president, you will do well. The President knows what he is doing by appointing you and any appointee of the president will have my full cooperation, “he said.

Decrying the dearth of manpower, especially meter installers, the minister again reiterated his call for collaboration between the National Power Training Institute of Nigeria (NAPTIN) and NEMSA to tackle the issue.

“We need to ensure more installers are trained in order to accelerate the government’s plan to bridge the meter gap in the country, “he said.

On meter testing stations, he said that there should be a plan towards having them in each of the geo-political zones.

He urged Adesayo to conduct a comprehensive diagnosis of the agency and list the challenges in order to know where to start from.

Earlier, the Managing Director may have informed the minister of his visit to the other agencies to get their support.

He also spoke on the required support from the ministry in order to ensure the successful discharge of the agency‘s responsibilities.

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NAICOM Restates Commitment to Labour Standards, Staff Welfare

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By Tony Obiechina, Abuja

The National Insurance Commission (NAICOM) reaffirmed a strong commitment to maintaining high labour standards and promoting the welfare of all staff in the country.

Disclosing this in a statement on Monday NAICOM said as a forward looking regulatory institution, the Commission recognises that its effectiveness depends largely on the professionalism, dedication, and wellbeing of its workforce.

Continuing, it said “Since the current leadership assumed office, NAICOM has continued to take deliberate steps to improve working conditions and enhance staff welfare.

These efforts include strengthening internal processes, providing a supportive and enabling work environment, and promoting a workplace culture built on fairness, productivity, mutual respect, and accountability.

“Staff welfare remains a key priority of the Commission. In recent years, noticeable progress has been made in areas such as training and capacity development, career growth, workplace improvements, and performance based advancement. These initiatives reflect NAICOM’s commitment to building a skilled, motivated, and results driven workforce aligned with its strategic goals.

“NAICOM operates a transparent and merit based human resource system in full compliance with public service rules and applicable regulatory frameworks. Promotion exercises are conducted strictly in line with due process and are based on clear, objective, and verifiable criteria. All staff are treated equally, with no room for favouritism or bias.

“The Commission also places high importance on discipline, integrity, and positive working relationships across all levels. NAICOM remains committed to fostering a work environment guided by equity, transparency, and nondiscrimination in all engagements and decisions.

“Management remains open to constructive dialogue and engagement. Staff are encouraged to make use of established internal mechanisms for communication and dispute resolution, rather than actions that may disrupt operations or affect public confidence in the Commission.

NAICOM assures all stakeholders of its continued investment in staff welfare, professional development, and institutional excellence, in line with global best practices and its statutory responsibilities.

“The Commission remains committed to creating a harmonious and productive work environment while fulfilling its mandate to regulate, supervise, and strengthen Nigeria’s insurance industry, ” it added.

Meanwhile, NAICOM has alleged that there was an attempt on Monday by certain individuals to undermine the credibility of the current leadership through external actors.

“We are pleased to state that this effort was unsuccessful, as it was firmly rejected by disciplined and committed members of staff who declined to be associated with unfounded claims. The situation has since been effectively resolved, and normalcy has been fully restored.

“All operations remain uninterrupted, and NAICOM continues to uphold the highest standards of professionalism, fairness, dedication, and accountability in service to the Nigerian public”, the statement concluded.

Electricity Generation Improved to 4300MW from 3951MW, Says FG

The Federal Government announced on Sunday that electricity generation improved from 3,951 MW to 4,300 between March 28 and April 10.

This is contained in a statement issued by Bolaji Tunji, Special Adviser to the Minister of Power on Strategic Communications and Media Relations in Abuja.

The gradual rise in generation output within the period, Tunji said, was in tandem with the assurance given by the Minister of Power, Adebayo Adelabu, at the Power Sector Working Group, where he pledged that electricity supply would improve within two weeks.

He explained that this improvement closely aligns with the steady increase in gas supply to thermal power plants, which rose from approximately 605 million standard cubic feet (mmscfd) to over 704 mmscfd within the same timeframe.

Tunji further stated that mechanical availability remained stable and even improved, peaking at over 7,796 Megawatts (MW) in early April, while operational availability rose from about 4,208MW to a peak of over 4,694MW, indicating enhanced efficiency in converting available gas into electricity.

“Inspite of minor fluctuations recorded on some days, the overall trajectory points to a gradual recovery in the power sector, driven largely by improved gas supply and better coordination among critical stakeholders,” he said.

Tunji also said that the strong correlation between gas availability and generation output underscores the importance of sustained interventions in the gas-to-power value chain, given Nigeria’s heavy reliance on thermal power plants.

”To consolidate the gains recorded so far, the minister recently inaugurated a Gas-to-Power Monitoring Committee to ensure improved coordination, real-time monitoring, and sustained gas supply to generating companies.

“The committee is expected to address bottlenecks in gas delivery, enhance synergy between gas producers and power generation companies, and ultimately guarantee a more stable and reliable electricity supply across the country, “he said.

“The minister remains committed to ensuring that the modest gains recorded are not only sustained but significantly improved upon in the coming weeks,” he said.

Tunji assured Nigerians that ongoing reforms and targeted interventions in the sector would continue to yield measurable improvements in power generation and supply, in line with the administration’s broader objective of stabilising the nation’s electricity sector.

“We are not there yet, but we will continue to ensure measurable improvements, “he said.

Tunji also said that the minister urged the new management of the Nigeria Electricity Management Services Agency (NEMSA) to focus on improving its Internally Generated Revenue (IGR).

The minister spoke during the visit of the newly appointed Managing Director of the agency, Olusegun Adesayo and the chairman of the Board, Ikechi Nwosu to his office at the weekend.

Adelabu said that the agency should focus on improving IGR while reducing dependence on appropriation, especially in funding their operational cost.

He also urged the management to look into establishing more meter testing centres across the country in order to enhance and improve on their role.

While expressing confidence in the new management, he assured that the full board would be inaugurated soon.

“I have no doubt about your ability and I can also say that with your appointment by the president, you will do well. The President knows what he is doing by appointing you and any appointee of the president will have my full cooperation, “he said.

Decrying the dearth of manpower, especially meter installers, the minister again reiterated his call for collaboration between the National Power Training Institute of Nigeria (NAPTIN) and NEMSA to tackle the issue.

“We need to ensure more installers are trained in order to accelerate the government’s plan to bridge the meter gap in the country, “he said.

On meter testing stations, he said that there should be a plan towards having them in each of the geo-political zones.

He urged Adesayo to conduct a comprehensive diagnosis of the agency and list the challenges in order to know where to start from.

Earlier, the Managing Director may have informed the minister of his visit to the other agencies to get their support.

He also spoke on the required support from the ministry in order to ensure the successful discharge of the agency‘s responsibilities.

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BUSINESS

Coy Tax for Q4 2025 Stands at N1.49trn – NBS

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The nation’s aggregate Company Income Tax (CIT) for Q4 2025 is reported to be 1.49 trillion, the National Bureau of Statistics (NBS) said.

The figure is contained in the NBS Company Income Tax (CIT) Q4 2025 Report released in Abuja on Wednesday.

According to the report, the figure shows a decrease of 49.

81 per cent on a quarter-on-quarter basis from N2.
96 trillion recorded in Q3 2025.

The report said domestic CIT received was N819.83 billion, while foreign CIT payment was N668.21 billion in Q4 2025.

It said on a quarter-on-quarter basis, activities of extraterritorial organisations and bodies recorded the highest growth rate with 75.15 per cent,

The report said this was followed by Education and real estate activities at 54.

20 per cent and 27.25 per cent respectively.

“On the other hand, accommodation and food services activities recorded the lowest growth rate at -67.11 per cent, followed by activities of households as employers, undifferentiated goods and services  producing activities of households for own use at -63.49 per cent .

“It said mining quarrying was recorded at -49.63 per cent.”

In terms of sectoral contributions, the report showed that the top three activities with the highest contribution in Q4 2025 were financial and insurance activities at 18.17 per cent, manufacturing at 17.30 per cent and mining and quarrying at 15.04 per cent.

It said on the other hand, the activities of households as employers, undifferentiated goods and 0.002 per cent.

“This was followed by water supply, sewage, waste management and remediation activities with 0.04 per cent.

The report, however, said, on a year-on-year basis, CIT collections in Q4 2025 increased by 13.38 per cent from Q4 2024.

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