The Nigerian Parliament Gives Approval to Shut Down NIPOST Subsidiaries and Investigate Tax Waivers

In 2021, the Federal Government announced the plans to divide NIPOST into three viable subsidiary companies comprising a property company, a microfinance bank, and a transport and logistics company. However, early in 2023, NIPOST workers protested the “irregularities” in the ongoing reform and commercialization of the agency.

The parliamentarians have also called for a comprehensive investigation of all tax waivers granted since 2015, excluding those related to the activities of non-profit organizations and non-governmental organizations.

Just two months ago, the Chairman of the Presidential Tax Reform Committee, Taiwo Oyedele, disclosed plans to review tax waivers given to companies in Nigeria, emphasizing that the incentives amounted to about N6 trillion annually.