President Bola Tinubu on Monday received the Minister of State for Finance nominee, Taiwo Oyedele, at the State House in Abuja.
The meeting marked Oyedele’s first official audience with the President since his nomination for the ministerial position was announced last week.
The meeting, which took place at the President’s first-floor office, provided an opportunity for both men to discuss Nigeria’s ongoing fiscal reform agenda and strategies for strengthening public finance management.
Sources said the discussions focused on improving tax administration, expanding the country’s revenue base and strengthening fiscal policy frameworks.
Before his nomination, Oyedele had been actively involved in consultations with the President and other senior government officials on issues relating to tax reforms, revenue mobilisation and broader economic policy initiatives.
He previously served as Chairman of the Presidential Committee on Fiscal Policy and Tax Reform, which developed four consolidated tax laws for Nigeria that came into effect in January this year.
As Minister of State for Finance, Oyedele is expected to work closely with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to advance policies aimed at boosting revenue generation, strengthening fiscal discipline and improving the efficiency of Nigeria’s public finance system.
His appointment is widely viewed as part of the administration’s efforts to deepen tax reforms and strengthen the country’s fiscal stability.
If you’re craving something delicious and filling, this fried yam with roasted chicken wings and green sauce recipe from food blogger Toms is just what…
<img src="https://www.mtlblog.com/media-library/canada-revenue-agency-envelopes-right-a-sold-sign-in-front-of-a-house.jpg?id=55555579&width=1200&height=800&coordinates=96%2C0%2C96%2C0"/><br/><br/><p>Attention past, present and future homeowners! As <a href="https://www.mtlblog.com/revenu-quebec-cra-income-tax-brackets-2025" target="_blank">tax season</a> looms, the <a href="https://www.mtlblog.com/federal-benefit-payments-increase-quebec-2025" target="_blank">Canada Revenue Agency</a> (CRA) is reminding Canadians of a few key tax credits and programs that could save you some serious cash this year.</p><p>Whether you're a homeowner, a first-time buyer, a seller or even just starting to save for a down payment, there are plenty of housing-related <a href="https://www.mtlblog.com/quebec-cra-payment-dates-calendar-2025" target="_blank">benefits and credits</a> that could put money back in your pocket. From deductions for renovations to savings plans for first homes, these tips can help you maximize your refund and ease housing costs. </p><p>If you bought, sold, or upgraded a home in 2024 — or even if you're still saving for a down payment in 2025 — these programs can help ease your housing costs and maximize your savings. Filing your taxes is the first step to unlocking these credits, so it's worth knowing what you might qualify for. </p><p>Here's a breakdown of all the benefits and credits for reducing housing-related expenses this tax season and beyond.</p><h3>Home Buyer's Plan</h3><br/><p>If you're saving for your first home, the Home Buyer's Plan (HBP) lets you borrow from your own RRSP to buy or build it. You won't have to pay taxes on this withdrawal as long as you pay it back within a 15-year period.</p><p>In April 2024, the government raised the HBP limit from $35,000 to $60,000, and if you're buying with a partner, you can both take advantage of the program. Plus you'll also get extra time to start repaying withdrawals made from 2022 to 2025 — repayments start five years after the withdrawal year.</p><p>The RRSP contribution deadline for the 2024 tax year is March 3, so you still have some time to contribute and reduce your taxable income from last year if you're hoping to take advantage of the HBP!</p><p><a href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan/participate-home-buyers-plan.html" target="_blank">More about the Home Buyer's Plan</a></p><h3>First Home Savings Account</h3><br/><p>The First Home Savings Account (FHSA) lets you save up to $8,000 a year (lifetime max of $40,000) for your first home. Contributions are tax-deductible (like a TFSA), and withdrawals for a qualifying home are tax-free (like an RRSP). Any leftover room can also be carried over to future years.</p><p><a href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/first-home-savings-account.html" target="_blank">More about the First Home Savings Account</a></p><h3>Home Buyers' Amount</h3><br/><p>If you bought a home in 2024, you can claim up to $10,000 on your tax return for a tax credit worth up to $1,500. The only catch is that either it must be your first home, or else you can't have owned a home (in Canada or anywhere else) anytime from 2020 to 2024, inclusive.</p><p><a href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-31270-home-buyers-amount.html" target="_blank">More about the Home Buyers' Amount</a></p><h3>Home Accessibility Tax Credit</h3><br/><p>If you're a homeowner over 65 or who's eligible for the Disability Tax Credit (DTC) and you made upgrades to your home to improve accessibility or safety in 2024, you could be eligible for a Home Accessibility Tax Credit (HATC) of up to $3,000. You can claim up to $20,000 of these home renovation costs on your tax 2024 return.</p><p><a href="https://www.canada.ca/en/revenue-agency/programs/about-canada-revenue-agency-cra/federal-government-budgets/budget-2022-plan-grow-economy-make-life-more-affordable/home-accessibility-tax-credit.html" target="_blank">More about the Home Accessibility Tax Credit</a></p><h3>Multigenerational Home Renovation Tax Credit</h3><br/><p>New in 2023, the Multigenerational Home Renovation Tax Credit (MHRTC) is a refundable tax credit that lets you claim certain renovation expenses to create a secondary unit for a senior or DTC-eligible family member to come live with you. If your renovation is eligible, you can claim 15% of qualifying expenditures up to a maximum of $50,000 per renovation — which could mean a tax credit of up to $7,500!</p><p><a href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/multigenerational-home-renovation.html" target="_blank">More about the Multigenerational Home Renovation Tax Credit</a></p><h3>GST/HST New Housing Rebate</h3><br/><p>If you bought a newly built or substantially renovated home worth $450K or less in 2024, you might qualify for a rebate of up to 36% of the GST you paid. This could mean a tax rebate of up to up to $6,300!</p><p><a href="https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4028/gst-hst-new-housing-rebate.html" target="_blank">More about the GST/HST New Housing Rebate</a></p><h3>Principal residence exemption</h3><br/><p>If you sold your principal residence in 2024, you could be eligible to claim this exemption and reduce or even eliminate taxes on any capital gains you got from the sale.</p><p><a href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains/principal-residence-other-real-estate.html" target="_blank">More about the principal residence exemption</a></p><h3>Residential property flipping rule</h3><br/><p>If you're planning on selling a home that you've owned for less than 365 days, your profit could be taxed as business income — unless you meet a life event exemption. Be sure to check CRA guidelines before selling to avoid getting slapped with this higher tax.</p><p><a href="https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-12700-capital-gains/principal-residence-other-real-estate/sale-your-principal-residence.html" target="_blank">More about the residential property flipping rule</a></p><h3>GST/HST rebate for Purpose-Built Rental Housing (PBRH)</h3><br/><p>If you bought, built or invested in a new purpose-built rental housing project like a rental apartment complex or student housing in 2024, you could claim a 100% rebate of the GST tied to your project's costs.</p><p><a href="https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/gst-hst-businesses/gst-hst-rebates/purpose-built-rental-housing.html" target="_blank">More about the GST/HST rebate for Purpose-Built Rental Housing</a></p><p>Keeping informed about these tax credits and deductions will help make sure you don't leave money on the table. Happy tax season, Montreal!</p><p><em>Love this? Check out our <a href="https://www.mtlblog.com/notices/" target="_blank">MTL Blog noticeboard</a> for details on jobs, benefits, travel info and more!</em></p><p><em>AI tools may have been used to support the creation or distribution of this content; however, it has been carefully edited and fact-checked by a member of MTL Blog's Editorial team. For more information on our use of AI, please visit our <a href="https://www.mtlblog.com/editorial-standards" target="_blank">Editorial Standards page</a>.</em></p>
<p> NNPC’s Kyari emphasised Nigeria's potential to produce two million bpd, currently hindered by oil theft and pipeline vandalism in Niger Delta.</p>
<p>The post <a rel="nofollow" href="https://www.arise.tv/nigerias-oil-production-nears-1-7-million-barrels-per-day-says-nnpc-chief-kyari/">Nigeria’s Oil Production Nears 1.7 Million Barrels Per Day, Says NNPC Chief Kyari</a> appeared first on <a rel="nofollow" href="https://www.arise.tv">Arise News</a>.</p>
