The Akwa Ibom state Inland Revenue Service has sued Total E&P Nigeria over alleged issues of unpaid taxes totalling N25 Billion ($78 million).
The Government agency also gave the company a seven-day ultimatum to pay up the levies.
The present harsh economic realities have made most businesses and individuals default in tax and levies payment, prompting all Government agencies to go tough and beef up their efforts in collecting taxes to increase the IGR of the state.
It is pertinent to note that the court case might take long, bearing in mind, the timeliness at which the complainant (State Government) has to exercise patience till the end of the court case.
The Federal Government will be keen to ensure that the running legal battle does not halt the operations of the company given the influence it wills within the country’s oil sector and the importance of oil to Nigeria’s economic fortunes.
The state government, however, has pledged to go all out in ensuring that revenue leakages are blocked.