The Federal Government's decision to scrap revenue deductions by agencies such as the FIRS, Customs, and NUPRC is expected to free up more funds for state and local governments — a move analysts say could improve funding access for small and medium …  | By Abimbola Akomolafe on October 10, 2025 | The Federal Government's decision to scrap revenue deductions by agencies such as the FIRS, Customs, and NUPRC is expected to free up more funds for state and local governments — a move analysts say could improve funding access for small and medium enterprises (SMEs). Finance Minister Wale Edun said the reform, directed by President Bola Tinubu, aims to improve fiscal transparency and ensure that more money from the Federation Account is used for real development projects rather than administrative deductions. Read also, Experts note that as more funds reach subnational governments, local infrastructure, business grants, and enterprise support programs could receive a boost — strengthening the operating environment for small businesses across Nigeria. "This reform promotes accountability and fiscal stability, which are key to creating a better ecosystem for SMEs to grow," Edun said. If properly implemented, the move could enhance state-led SME initiatives, open up supply chain opportunities, and support job creation in local communities. | | | |
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