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Bolaji Fesomade Profile picture
Bolaji Fesomade
@MasterBolaji
Business Strategist | Investment Analyst | Business Consultant | Lifestyle Entrepreneur | Political Economy Analyst.
Dec 13 • 31 tweets • 5 min read
Nigeria’s FIRS–France tax partnership: facts, context, and why it is not “slavery”

Breakdown:👇

In recent weeks, Nigeria’s tax cooperation with France, anchored through the Federal Inland Revenue Service (FIRS, has attracted intense public debate with so many people... Image With no or little understanding about the partnerships calling it "modern slavery." One thing about Nigerians is that, a lot of people speak so much confidently on a subject they do not understand and instead of asking questions,
Oct 25 • 13 tweets • 2 min read
Why was the dollar less than ₦500 two years ago, and now it’s about ₦1,450 — if the economy is really working?

It’s called currency float.

Let’s break it down: 👇 Once upon a time in Nigeria, there was a little boy named Naira.

Naira wanted to stand tall and strong in the market — just like his big cousin, Dollar.

But there was a problem.
Each time Naira tried to stand alone, he would start to fall.
Oct 17 • 5 tweets • 2 min read
WHAT IS TREASURY BILL AND HOW CAN YOU INVEST IN IT?

Breakdown: 👇

A Treasury Bill (T-Bill) is like when you lend money to the government for a short time, and the government promises to pay you back with extra money (interest). Image For example:

You give the government ₦100,000 today.
After some months (like 3, 6, or 12 months), they give you back maybe ₦110,000.

That extra ₦10,000 is your profit — the “thank you” for helping them use your money. It can have 10-20% interest rates.
Oct 16 • 9 tweets • 2 min read
How to spend N300m

Breakdown: 👇

1. Real estate investment (₦120 million — 40%)

Buy 3–4 rental apartments in high-demand areas (e.g., Lagos mainland, Ibadan GRA, or Abuja outskirts). Each could yield ₦2–₦3 million per year in rent.

Expected annual return: ₦10–₦12 million.
Sep 11 • 14 tweets • 2 min read
This is very misleading. ❌️❌️❌️

I read the actual Nigeria Tax Administration Act again and read some reliable commentaries to see what the law explicitly says about TINs + bank accounts / financial services. Here’s what I found and where the uncertainties are:👇 Image What the NTAA / related analyses do say

1. Mandatory registration / TIN

All taxable persons are required to register and get a Tax Identification Number. This includes individuals, companies, non-residents making taxable supplies, or earning income in
Sep 2 • 22 tweets • 3 min read
20 of Nuhu Ribadu’s verified achievements as NSA

Follow me: 👇

1. Handed over 59 freed kidnap victims
Ribadu personally gave back 59 people who were kidnapped to the Kaduna State government. It showed that security forces were working to rescue people. 2. Met with governors strategically:

In March 2024, Ribadu met northern governors and the heads of the military to plan how to stop kidnappings and other crimes—a teamwork approach to security.
Aug 29 • 13 tweets • 2 min read
The more you spread lies, misinformation, and fear, the more I’ll keep correcting them. Almost everything you wrote here is wrong, and sadly, you seem determined to go to any length just to defend your falsehoods.

Now, here’s the corrected version of your claims.

Breakdown: 👇 The claim that “Tinubu’s tax bill will be the end of you and your business” is misleading and deliberately alarmist.

1. On the ₦50 levy:
The ₦50 stamp duty on electronic transfers above ₦10,000 is not new.
Aug 28 • 16 tweets • 3 min read
This guy has made it a full-time job to spread fear and misinformation about every new policy. This new tax law is his latest victim. But let’s go to the facts, not feelings. I've done this before, but it seems he's not ready to stop with his misinformation.

Breakdown: 👇 1. From January 2026, anyone earning ₦800,000 or less in a year pays zero tax. That’s the law. No guessing.

2. The tax is progressive, not flat. If you earn ₦12 million in a year, the first ₦800k is free, the next ₦2.2m is taxed at 15%, and only the higher part enters 18%.
Aug 23 • 15 tweets • 3 min read
Is this true?

Breakdown: 👇

1. Do Google, Facebook, TikTok, etc. require TIN for Nigerians?

True (partially).
Platforms like YouTube/Google AdSense, Meta (Facebook/Instagram), and TikTok often require a tax ID form (e.g., W-8BEN) for international creators. However, this is usually for US IRS compliance, not Nigerian tax authorities.

They don’t automatically share your earnings with the Nigerian FIRS (unlike the IRS, which has strong reporting systems).
Aug 19 • 7 tweets • 2 min read
Breakdown: 👇

Long ago, whenever people in Nigeria bought airtime or data to make calls or use the internet, the government was quietly collecting an extra 5% from them. This extra money was called tax. For example, if you bought ₦100 airtime, you were not really using the whole ₦100, because a small part went straight to the government. Many people didn’t like this because it made calls and data more expensive, and everyone knows how important phones are these days.
Aug 14 • 9 tweets • 2 min read
FALSE 🚫🚫❌️❌️

Breakdown: 👇

What’s actually in President Tinubu’s tax reforms?

1. Tax Reform Laws Signed and Effective January 1, 2026

President Bola Tinubu signed four landmark Tax Reform Acts on June 26, 2025, which will take effect from January 1, 2026. 2. Personal Income Tax (PIT) – Exemption & Progressive Rates

Contrary to claims of a flat 11–20% taxation across the board:

Individuals earning ₦800,000 or less per year will be completely exempt from PIT .
Aug 14 • 13 tweets • 2 min read
I’ve noticed that some Nigerians love to praise other nations just to throw subtle jabs at our country.

Before you start seeing Tanzania as the next heaven,

Read this: 👇 Tanzania’s Economy: The Not-So-Pretty Side (Despite That Calm 3 %)

1. Current Account Deficit Still a Thorn

Tanzania’s external imbalance remains problematic. The country registers a current account deficit of about –2.7 % of GDP, putting pressure on the balance of
Aug 11 • 12 tweets • 2 min read
Breakdown: 👇

Two years ago, many of Nigeria’s biggest companies were like farmers during a bad rainy season — the sun was too hot, the rain came at the wrong time, and their crops were dying. The “rain” here was money, and the “bad season” was because the naira kept... jumping up and down in value. This made the companies lose plenty of money when they needed to change foreign currency. On top of that, they were spending a lot on loans.
Aug 8 • 15 tweets • 3 min read
Breakdown: 👇

Once upon a time in Nigeria, a new law came out in 2024.
It’s called the Nigeria Insurance Industry Reform Bill, and it’s like a new set of classroom rules — but for building houses, shops, petrol stations, and even government offices! Image You can read the full breakdown of the law here: 👇


Now, let’s imagine this story like a building project:
Aug 6 • 18 tweets • 3 min read
Tinubu signs insurance industry bill into law

In drama form.

Breakdown: 👇

Cast:

President Bola Tinubu – King of Nigeria Kingdom

Bayo Onanuga – Town Crier / Special Adviser

Senator Tokunbo Abiru – Lawmaker

Mama Tina – A popular market woman Baba Promise – Insurance man with sweet mouth

Little Aisha – Curious little girl

Children of Nigeria Kingdom – Citizens

Narrator – Helps explain to the audience
Aug 5 • 28 tweets • 5 min read
Does the 4% FOB levy on imported goods mean you'll now pay more than before?

Breakdown: 👇

Please read very well and with an open mind.

For those who don't know FOB, I did a post on it days ago, and you check it here: x.com/MasterBolaji/s… x.com/MasterBolaji/s… Now that you've read what FOB is, does it mean you will pay more on imported goods?

Follow me: 👇

The FOB levy is fixed at 4%, and if there's going to be a hike in prices, that means this will be done through the values of the goods coming in (Shipped goods).
Aug 2 • 16 tweets • 3 min read
Islamic economy

Breakdown: 👇

Once upon a time, there was a beautiful and peaceful town called Noorville. The people in Noorville were mostly Muslims, and they loved to follow the teachings of the Qur’an — even when doing business and using money. There lived a kind man named Uncle Kareem. He owned a shop that sold rice, tomatoes, and clothes. He was known all over town as the most honest trader.

One day, a poor man named Baba Musa came to Uncle Kareem’s shop.
Jul 31 • 14 tweets • 2 min read
Breakdown: 👇

Once upon a time in Nigeria, there was a big plan to build trains that would go from Ibadan to Ilorin, Minna, and Kano. These trains were going to make traveling easier and faster for everyone. To do this, the old government (not President Buhari) wanted to borrow a lot of money—about $30 billion—from other countries. Out of that money, $6.1 billion was for the railway (the train project).
Jul 22 • 6 tweets • 2 min read
Breakdown: 👇

WHAT’S HAPPENING?

Imagine if every time your mum or dad wants to buy or sell something from another country, they have to talk to many people — customs, tax office, trade office, and so on. That takes a lot of time and makes things slow and confusing. So, President Tinubu said, “Let’s make one simple online platform where everyone can do all these things easily, in one place.” That online place is called National Single Window (NSW).
Jul 22 • 6 tweets • 2 min read
Breakdown: 👇

What is subsidy?

Imagine Nigeria is selling fuel (petrol) for ₦200 even though it costs ₦600. The government pays the extra ₦400 for every litre so people can buy it cheaper. That extra money is called a subsidy.

Sounds nice, right?

But here’s the problem... What if Tinubu didn’t stop subsidies?

Let’s imagine Tinubu kept paying those fuel subsidies in 2023. Here’s what would have happened:

1. We would run out of money!

Nigeria would need so much money that we would have to print ₦200 trillion —