Economy

Subsidised Transport in Oyo State Supports 5.8 Million Passengers in 2025

Published

1 year ago

July 22, 2025

Subsidised transport in Oyo State aided 5.8 million passengers from January to July 2025 under Governor Makinde’s economic recovery initiative SAfER

The Oyo State Government provided subsidised transport in Oyo State to over 5.8 million passengers between January and July 2025 as part of efforts to ease economic hardship.

Also read: Oyo Government Orders 202 Teachers Back to LGUBEAs or Risk Sanctions

Chairman of the Pacesetter Transport Services, Ibrahim Dikko, revealed this on Monday during a briefing at the Governor’s Office in Ibadan.

Dikko said the initiative, under the Sustainable Action for Economic Recovery, known as SAfER, enabled residents to access affordable transport across both intra-city and inter-city routes.

He explained that N2.1 billion was committed by the state to keep transport costs low for students, pensioners, the elderly, and people with disabilities.

“From August 2023 to date, the government has spent N2.15 billion to support transport services. This year alone, N686 million has been used to commute 5.88 million passengers,” Dikko stated.

He added that in 2024, the service transported nearly 10 million people with a subsidy budget of N924 million. The programme continues to support daily commuters, with between 26,000 and 30,000 passengers using the system daily.

The PTS now operates 39 city routes with 55 buses and five intercity routes with 10 buses.

Dikko highlighted operational improvements, including the revival of 46 buses, the introduction of a card payment system, and installation of CCTV cameras, GPS trackers and speed monitors on all vehicles.

“The card system alone increased our daily revenue from N200,000 to N1.5 million. We now have over 262,000 registered users,” he said.

He also credited reforms for curbing fuel theft and reducing revenue leaks while improving safety and route compliance.

Also read: Oyo Road Infrastructure Project Earns Praise in Remarkable Development Push

Dikko assured residents that the administration of Governor Seyi Makinde would continue enhancing transport accessibility and economic relief across the state.

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Economy

NRS Assures Taxpayers VAT Remains at 7.5% Amid Tax Reform Concerns

Published

21 hours ago

October 27, 2026

Peculiar Adirika

NRS VAT rate remains 7.5%, the agency says, while addressing concerns over bank deductions, loans and the implementation of Nigeria’s tax reforms

The Nigeria Revenue Service (NRS) has assured taxpayers that Nigeria’s standard Value Added Tax (VAT) rate remains 7.5 per cent, while addressing concerns over the implementation of the country’s new tax reforms.

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The assurance was given by the Tax Administrator responsible for Kano, Jigawa and Katsina states, Samaila Abdullahi, during an NRS stakeholders’ engagement and tax reform sensitisation programme in Kano.

Abdullahi said concerns raised by individuals, traders, business owners and other stakeholders about the new tax laws were understandable, particularly questions relating to bank transactions, loans, family transfers, business income and the potential impact on small businesses.

He urged taxpayers to understand the reforms through the provisions of the law rather than rely on assumptions or misinformation.

According to him, the tax laws do not automatically authorise deductions from personal bank accounts.

He stressed that tax collection and recovery must follow the applicable legal provisions and procedures.

Abdullahi also clarified that money received as a loan should not automatically be classified as business income or profit, explaining that proper documentation is essential to establish the nature of a transaction.

“For instance, when a trader receives a loan of N500,000, the amount should not automatically be treated as N500,000 in sales or profit, provided the transaction is properly documented,” he said.

The NRS official’s comments were aimed at addressing public concerns about how the new tax framework would affect personal finances and business transactions.

He emphasised the importance of distinguishing between taxable business receipts and other funds, such as documented loans, when determining a taxpayer’s obligations.

The clarification comes amid heightened public interest in Nigeria’s tax reforms and questions about their implications for individuals, traders and small businesses.