Economy

Kwara Cargo Services Set to Boost Exports from Ilorin

Published

1 year ago

August 16, 2025

Kwara cargo services will commence at Ilorin airport, enhancing agricultural and commercial exports, creating jobs, and boosting trade

Kwara cargo services are set to commence at General Tunde Idiagbon International Airport in Ilorin, aiming to transform the state into a hub for agricultural and commercial exports.

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State Commissioner for Agriculture and Rural Development, Dr. Afees Alabi, explained that the initiative aligns with Governor Abdulrahman Abdulrazaq’s efforts to open new export channels, improve market access, and increase incomes for producers and businesses.

The cargo services will support efficient movement of goods from farms, factories, and workshops to domestic and international markets, enhancing value addition, processing, and packaging.

The project is expected to reduce post-production losses, preserve product quality, and expand trade opportunities.

Airport Manager Suraju Aderibigbe revealed that the old terminal will be upgraded into a modern cargo facility with advanced technology to safely handle a wide range of products.

The initiative is projected to stimulate economic growth, create jobs, and attract investment across multiple sectors in Kwara State.

Alabi called for collaboration among farmers, manufacturers, transport unions, investors, and regulatory agencies to ensure high-quality standards, proper packaging, and technological adoption to meet international market requirements.

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The event saw participation from stakeholders including the Nigerian Army, Police Force, Immigration Service, National Drug Law Enforcement Agency, and University of Ilorin, all supporting the transformative initiative.

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Economy

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

Published

13 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.