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Tag: tax reforms

  • Sule: Governors okay Tax Reform Bills as passed by Reps

    Sule: Governors okay Tax Reform Bills as passed by Reps

    • ‘President endorsed adjusted VAT’
    • Senate to pass Bills after recess, says Bamidele

    Governors are on the same page with the Federal Government on the Tax Reform Bills, Nasarawa State helmsman Abdullahi Sule said yesterday.

    According to him, the four Tax Reform Bills passed on March 18 by the House of Representatives contain the adjustments made to the original Bills by the governors.

    Sule, along with some other governors, especially from the North, kicked against sections of the Bills as presented by President Bola Ahmed Tinubu for Federal lawmakers’ consideration and passage.

    They picked holes in the proposed gradual increase of Value Added Tax (VAT) from 7.5 per cent to 10 per cent and finally 15 per cent within five years.

    Speaking at the Veritas media event in Abuja, Sule praised President Tinubu for his listening ears.

    “He called us to a meeting and my colleagues mandated me to speak on their behalf and listed our misgivings.

    “The President asked us to send our proposal to amend the section on VAT and we did,” he said.

    Sule added that the adjustment made by the governors is exactly what is in the Bills passed by the House of Representatives.

    The governors were up in arms against the Bills and, after a National Executive Council (NEC) meeting, requested the President to withdraw them from the National Assembly.

    But the President stuck to his guns.

    He turned down their advice and asked them to take their grouse about the Bills to the public hearing.

    The Senate will consider and pass the Bills after its recess, Senate Leader Opeyemi Bamidele said yesterday.

    Read Also: UPDATED: Reps approve tax reform bills, set for passage

    Bamidele (Ekiti Central) spoke in Ado Ekiti during an empowerment programme.

    He also raised the hope that the Constitution amendment would be carried out by the 10th Senate.

    He described the tax reform bills “as game changers that will redefine and transform our country’s fiscal environment significantly”.

    “When enacted, the bills will address inequality and injustice that characterise our tax system,” the Senator said.

    Under the proposed tax regime, Bamidele noted that employees earning N1,000,000 or below per annum “will be completely relieved of the tax burden”.

    The Senator added: “Besides, all businesses with N50 million capital or below will now enjoy tax exemptions.

    “Value Added Tax will no longer be placed on exports and essential consumptions by the masses.

    “The essential goods and services include food items, education, transportation and medical treatment, among others.

    “The bills further propose 27.5 per cent in 2025 and 25 per cent in 2026, which according to development data, is conservative compared to 27 per cent in South Africa and 30 per cent in Kenya.

    “The House of Representatives has successfully passed the Tax Reform Bills 2024.

    “The Senate is looking into all areas of public concern.

    “When we resume plenary after the Eid and Easter holidays, the Senate will consider the bills again; resolve all areas that Nigerians have expressed concerns and pass the bills purely in the national interest.”

    Constitution amendment in people’s interest

    Bamidele explained the rationale behind the Constitution amendment.

    According to him, it was designed to evolve “a more efficient and responsive governance system that will serve the interests of all regardless of political bias, ethnicity or religious affiliation”.

    He said: “The Senate will continue to provide the legal and regulatory environment that will incentivise foreign direct investments.

    “We are convinced that this initiative will not only positively impact our foreign exchange earnings, but also stabilise the macro-economic landscape.

    “The initiative will, no doubt, boost the country’s revenue generation; improve the living conditions of the people and increase the country’s gross domestic product (GDP).”

    Bamidele added that the efforts were exemplified in the amendment of the National Social Investment Programme Agency (Establishment) Act, 2024 “to establish an effective and accountable structure for service delivery, and adequate coordination among relevant agencies of government”.

    He said the Act now guarantees the sustainability of the NSIP as a valuable tool for poverty alleviation.

    The Senate Leader said: “We have provided necessary legislative frameworks and strengthened public institutions with capacities to deepen social equity and promote economic growth.

    “The frameworks are also designed to foster environmental sustainability, encourage greater access to qualitative health care, discourage social dislocation, eliminate terrorism and insecurity and reduce the gap between the haves and the haves-not.”

  • Reps committee submits report on Tax reforms

    Reps committee submits report on Tax reforms

    The Committee on Finance on Tuesday laid before the House the report of the public hearing on the four tax bills presented to the House by President Bola Ahmed Tinubu for consideration.

    The four bills, which have generated lots of controversy, were presented to the House in October 2024 to reform the nation’s tax and generate more revenue for the government.

    Following a three-day public hearing, the expanded House Committee on Finance went into a close door retreat at the Transform Hilton to fine tune submissions from the public.

    Chairman of the Committee, James Abiodun Faleke laid the report before the House at plenary for consideration.

    Read Also: Tinubu’s bold leadership responsible for Nigeria’s new growth path – Shettima

    The Bills will now be listed at a later date for consideration and passage by the House, but it is not clear when the bills will be listed as they are not part of the notice paper released for the week.

    The Committee also met with the Leadership of the House behind closed doors on Tuesday ahead of the consideration of the reports.

    In the Upper Chamber, Senate President, Godswill Akpabio announced during plenary that the Senate Committee was yet to conclude work on the report.

    He said members of the Senate Committee on Finance will be returning to the Zuma Resort in the Madala area of Niger State to finalise work on the bills before laying the report next week for consideration.

  • Tax Reforms: Tinubu has nation’s best interest at heart, says Senator Lado

    Tax Reforms: Tinubu has nation’s best interest at heart, says Senator Lado

    The Special Adviser to the President on Senate Matters, Senator Basheer Lado, on Wednesday assured Nigerians that President Bola Ahmed Tinubu has the nation’s best interests at heart in introducing Tax Reforms in the country.

    Lado made the remarks when the Kano State Government’s Committee on Tax Reform Bills, led by its chairman, Dr. Muhammad Sagagi paid him a courtesy visit in his office at the National Assembly.

    The Presidential aide added that the vision of President Tinubu is to create a fair, transparent, and efficient tax system that would drive economic growth, encourage investment, and ultimately improve the standard of living for all citizens.

    He further told the delegation, that the Senate, under the leadership of Senator Godswill Akpabio, is committed to addressing any concerns they may have raised in their memorandum on the Tax Reform Bills which they submitted to the National Assembly with the seriousness they deserve.

    Read Also: Why I didn’t attend APC national caucus meeting, by El-Rufai

    Lado said: “It is a great honour to welcome you all to my office today. Your presence here is not just a courtesy visit; it reflects your commitment to shaping Nigeria’s economic future through informed academic and intellectual contributions.

    “I want to assure you that the Senate, under the capable leadership of Senator Godswill Akpabio, is fully committed to addressing these concerns with the seriousness they deserve.

    “Furthermore, I want to reaffirm that His Excellency, President Bola Ahmed Tinubu, GCFR, has the nation’s best interests at heart in introducing these reforms.

    “His vision is to create a fair, transparent, and efficient tax system that will drive economic growth, encourage investment, and ultimately improve the standard of living for all citizens.”

    Earlier in his remarks on behalf of the delegation, Dr. Sagagi, expressed support for the tax reform efforts of the President Tinubu’s administration.

    Other members of the Kano state delegation present at the courtesy visit include Prof. Auwal Yadudu, Prof. Kamilu Sam, Abdulkadi Adamu, Hajiya Nana Jibrin, Isa Ahmed and Hon. Tajo Usman, among others.

  • Tax Reforms will stimulate local, foreign investments, says President

    Tax Reforms will stimulate local, foreign investments, says President

    The tax reform policies will attract local and foreign investments, President Bola Ahmed Tinubu assured yesterday.

    He said the reforms are fashioned to simplify tax regulations, offer incentives and ensure a more transparent and predictable fiscal framework.

    They are tailored to phase out barriers to entry and support business growth, he said.

    President Tinubu, represented by Minister of State for Finance, Dr. Doris Aniete, spoke at the 2025 Nigerian International Energy Summit (NIES) in Abuja.

    He said: “We are currently implementing a series of comprehensive reforms in our fiscal and tax policies.

    “These reforms are designed to create a more business-friendly environment and attract both local and international investments by simplifying our tax regulations, offering incentives and ensuring a more transparent and predictable fiscal framework.

    “We aim to remove barriers to entry and support the growth of businesses in Nigeria.

    “These measures will not only make it easier for companies to invest and operate in our country but also stimulate economic development, create jobs and enhance overall prosperity for our nation.”

    The theme of the summit is: “Bridging continents: connecting investors worldwide with Africa’s energy potential.”

    Also yesterday, the Senate said the Tax Reforms Bills will facilitate the $ 1 trillion economy.

    Chairman of the Committee on Finance, Senator Sani Musa, said the panel would embark on a three-day retreat to distil the memoranda presented to it by stakeholders.

    On when the Bills will be passed, Musa said: “We are going to work assiduously to consider every submission, every memorandum.

    “We are going to review everything at a three-day retreat, during which we will consult with experts.

    Read Also: N30trn Ways and Means: Senate panel accuses CBN of frustrating probe

    “We are consulting also with the Office of the Attorney General of the Federation so that we see how we can present a workable law that will not conflict with the Constitution.

    “Mr. President has said that he wants to see Nigeria having a $ 1 trillion economy and this is the beginning of it.”

    Chairman of the Senate Committee on Sports, Senator Abdul Ningi, said the Bills have assumed a “national dimension.”

    Ningi, who earlier opposed the Bills, said his reservations were based on the fact that the necessary consultations had not been done.

    Ningi said: “There were a lot of reservations as to the hasty manner in which a very important bill like tax reform was being pushed.

    “Remember that tax is a global phenomenon and it is a campaign issue all across the developed countries.

    “My position then was, ‘If that is so, why wouldn’t you just take time, consult more and negotiate more and at the end of the day we have a tax reform?’

    “However, over the last few weeks, you could see that the tax reform bills have drastically been changed to a tax reform that Nigeria needs.

    “Tax reform has taken a national dimension.”

    Why IOCs can’t leave Nigeria, by Lokpobri

    Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri said the International Oil Companies (IOCs) are not leaving Nigeria.

    Speaking at the NIES, he said: “Nigeria is an investment destination. No IOC is leaving Nigeria. All the IOCs cannot find a better destination than Nigeria.

    “They confirmed to me they are not leaving Nigeria but are leaving for the deep offshore.”

    He said out of the four Final Investment Decisions (FIDs) taken in the African oil and gas industry, three were in Nigeria, with $20 billion in investments expected.

    Lokpobiri announced that the African Energy Bank with its Headquarters in Nigeria will begin operations in the first quarter of 2025.

  • Tinubu: Tax Reforms will attract international investments

    Tinubu: Tax Reforms will attract international investments

    …IOCs not leaving Nigeria, says Lokpobri

    President Bola Ahmed Tinubu on Tuesday, said the current Tax reform policies will attract both local and international investors.

    He said the Reforms are fashioned to simplify the country’s tax regulations, offer incentives, and ensure a more transparent and predictable fiscal framework.

    He added that the Reforms are tailored to phasing out barriers to entry and supporting business growth in the country.

    Tinubu spoke at the 2025 Nigerian International Energy Summit (NIES) in Abuja.

    The minister of state for finance, Dr. Doris Aniete, who represented him said,

    “As many of you are aware, we are currently implementing a series of comprehensive reforms in our fiscal and tax policies.

    “These reforms are designed to create a more business-friendly environment and attract both local and international investments by simplifying our tax regulations, offering incentives, and ensuring a more transparent and predictable fiscal framework, we aim to remove barriers to entry and support the growth of Businesses in Nigeria.

    Read Also: FG unveils plan to tackle growing unsafe water crisis

    “These measures will not only make it easier for companies to invest and operate in our country, but also stimulate economic development, create jobs, and enhance overall prosperity for our nation.”

    The theme of the summit is “Bridging Continents: Connecting Investors Worldwide With Africa’s Energy Potential.”

    He said the investment landscape in Nigeria’s energy sector is brimming with opportunities driven by a favorite regulatory environment and strategic initiatives aimed at attracting all kinds of investors.

    Highlighting the investment opportunities, in the country’s oil and gas exploration, he said Nigeria offers creative opportunities for investors to explore and develop new oil blocks.

    Tinubu said: “Our commitment  to improving security in oil and gas producing regions and streamlining regulatory processes has created a conducive environment for investment two in the area of renewable energy, our commitment to diversifying our energy mix possesses significant opportunities in the renewable energy sector.”

    According to him, investors can explore solar energy projects, given Nigeria’s abundant solar resources, as well as wind and hydropower projects.

    He said the government’s decade of gas initiative further emphasizes the strategic importance of natural gas as a transition for offering opportunities in gas production and infrastructure development, three in domestic refining and petrochemical development.

    He said the revival of domestic refineries and establishment of new petrochemical plants present opportunities for investors to participate in value-added processing and production with the coming on-stream of the Nigerian National Petroleum Company (NNPC), two refineries, the country is going to have more refining capacity to produce, to process food and also deliver these products at the cheaper cost to Nigerians.

    He assured the stakeholders that the government will keep removing the bottlenecks and red tape that block investments.

    He revealed: “We are seeing more investment flow through the creation of enabling environments and regulations and the policies to support your investment flow.”

    He said the government is making efforts to expand power generation and improve transmission infrastructure offering investment opportunities in both conventional and renewable energy sources.

     He added that the government’s focus on increasing the short-term renewable energy in the energy mix aligns with global trends and presents a sustainable investment opportunity.

    On hydrogen, Tinubu said, “Here in Nigeria, we are actively developing a hydrogen policy to attract investors, and it is great hydrogen in our energy mix, we have unveiled a hydrogen development agenda committed to creating a unified national hydrogen policy.”

    He explained that the policy aims to harness the potential of both blue and green hydrogen, leveraging other natural resources and strategic geographic position.

    He encouraged the stakeholders to be a part of Nigeria’s hydrogen journey, and other critical energy minerals.

    Continuing, he said “Finally, this is a key sector to the economic growth of our nation, and we are committed to its rapid development. Our large deposits of copper, lithium nickel cobalt, and rare earthy neurons, which are all very critical for clean energy technologies, present investors with significant investment opportunities.

    “We will also build local refining capacities for these resources to ensure more value addition and more revenue to the country.”

    Giving the oil industry address, the Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri said the International Oil Companies (IOCs) are not leaving Nigeria.

    He said the companies are only migrating to deep water offshore operations, stressing that they have no alternative to Nigeria.

    “Nigeria is an investment destination. No IOC is leaving Nigeria. All the IOCs cannot find a better destination than Nigeria. They confirmed to me they are not leaving Nigeria and that the worst is they are leaving for the deep offshore.”

    He said already out of the four Final Investment Decisions (FIDs) taken in the African oil and gas industry, three were in Nigeria.

    He noted that $20 billion in investments is on the way to Nigeria soon.

    Lokpobiri announced that the African Energy Bank with its headquarters in Nigeria will begin operations in the first quarter of 2025.

    He recalled how he was in Davos in January this year and he was told there was loan for oil and gas was available but he turned down the offer and told them Nigeria prefers investment to loan at the moment.

    He attributed all the progress in the sector to the Executive Order from Tinubu last year.

    He urged the stakeholders to ignore the campaign about the energy transition, stressing there must be energy security before the energy transition.

  • National youth dialogue on tax reforms set for March 3

    National youth dialogue on tax reforms set for March 3

    In a bid to foster an inclusive tax system and amplify youth voices in governance, Project SPRINT, in collaboration with the House of Representatives Committee on Youth in Parliament, has announced the National Youth Dialogue on Tax Reforms. 

    The event is scheduled to take place on March 3, 2025, at 10:00 AM at the National Assembly Complex, Abuja. 

    The dialogue will be chaired by Hon. Olamijuwonlo Ayodeji Alao-Akala, MHR, and is expected to bring together key stakeholders, including policymakers, youth representatives, and experts, to discuss and shape the future of tax reforms in Nigeria.

    The dialogue seeks to raise awareness among young Nigerians about the importance of tax reforms, providing them with a platform to contribute actively to national discussions on taxation. 

    Read Also: FG unveils plan to tackle growing unsafe water crisis

    It will also identify critical areas for reform while proposing actionable recommendations to policymakers.

     Additionally, the initiative aims to foster collaboration and build strong partnerships among stakeholders to ensure that tax reform efforts are effective and sustainable.

    According to Mr. Israel James, Country Director of Project SPRINT, the event will be widely publicized through various channels, including social media, to generate interest and encourage broad participation.

     Organizers believe that increasing youth engagement in tax policy discussions will lead to a more inclusive and equitable tax system.

    At the end of the dialogue, a comprehensive report will be produced, outlining key findings and recommendations from the discussions.

     It is expected that the event will lead to increased awareness and understanding of tax reforms among young Nigerians, fostering a sense of responsibility and participation in national development.

     Additionally, the dialogue will strengthen partnerships among stakeholders, ensuring that the momentum for tax reforms continues beyond the event. 

    More importantly, it will provide a clear roadmap for implementing tax policies that reflect the interests and aspirations of young people.

    By bringing together young people, policymakers, and experts, the National Youth Dialogue on Tax Reforms aims to create a platform for meaningful discussions that will help shape a fairer, more inclusive, and sustainable tax system in Nigeria.

  • Agusto offers key insights about tax reforms, economic outlook

    Agusto offers key insights about tax reforms, economic outlook

    Agusto & Co, a Pan-African credit rating and research agency, has provided insights on ongoing tax reforms and outlook for the domestic economy.

    Industry leaders, policymakers, and economic experts converged on Agusto & Co’s 2025 Economic Roundtable  to discuss critical issues shaping the African economy, with a particular focus on Nigeria’s economic trajectory.

    Held in honour of the late  Olabode Agusto, the roundtable provided an in-depth analysis of trends, policy developments, and investment opportunities shaping Nigeria’s economic landscape. Thought-provoking discussions explored banking, finance, manufacturing, energy, and regulatory reforms critical to business and investment growth in 2025.

    Speaking at the event, Managing Director, Agusto & Co, Yinka Adelekan, emphasised the importance of fostering a deeper understanding of Nigeria’s economic realities and leveraging credible insights to drive sustainable growth.

     “As Nigeria navigates an evolving economic climate, it is crucial for businesses and policymakers to engage in meaningful dialogue,” Adelekan said. “This economic roundtable provides an essential platform to navigate the challenges and opportunities ahead, shaping our collective economic future.”

    Read Also: Tax Reforms: Pro-Tinubu group lauds Faleke’s support for President in NASS

    Reflecting on the legacy of the founder, Olabode Agusto, Adelekan further stated:

    “Mr. Agusto’s contributions to the financial and macroeconomic space were unparalleled. His wisdom, vision, and leadership left an indelible mark on the industry. In this era of macroeconomic reforms, his voice would have been invaluable to the discourse. Through this discussion on Nigeria’s current tax reforms and their impact on households, businesses, and the country, we honour his legacy and the profound impact he made.”

    Also expressing his optimism about the potential of Nigeria’s recent economic reforms, Fola Adeola, Chairman of the event, stated “The unification of exchange rates and the removal of subsidies are bold and necessary steps towards a stronger economy.  Now, the focus must be on effectively implementing these policies to ensure they deliver significant benefits for all Nigerians.”

    The event featured a dynamic panel session where industry experts and policymakers engaged in insightful discussions on Nigeria’s economic outlook, regulatory landscape, and investment climate. The panelists include Mrs. Yinka Adelekan, Managing Director of Agusto & Co. Limited; Dr. Doyin Salami, Senior Lecturer at Lagos Business School and Former Chairman of the Economic Advisory Council; Mr. Johnson Chukwu, Managing Director and Chief Executive Officer of Cowry Asset Management; Mr. George Onafowokan, Managing Director and Chief Executive of Coleman Technical Industries Limited; and Mr. Chinua Azubike, Managing Director of Infrastructure Credit Guarantee Company Limited. The panel session was moderated by Wonu Kunle-Bello, the head of Funds & Investment Manager Ratings at Agusto & Co.

    Additionally, Agusto Consulting (a wholly owned subsidiary of Agusto & Co), led by Jimi Ogbobine presented the Nigeria Macroeconomic brief 2025-2027, offering an in-depth analysis of key uncertainties, external sector trends, fiscal policies, and inflation projections shaping the nation’s economic trajectory. The fireside chat on Nigeria’s tax reforms, led by Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, also examined the impacts of ongoing tax policy changes on businesses and households, highlighting the critical role of fiscal reforms in fostering economic growth and competitiveness.

    The event also provided networking opportunities, fostering collaborations among key stakeholders shaping Nigeria’s economic landscape.

    Agusto & Co. remains committed to providing valuable research and insights to support businesses and investors navigating the dynamic Nigerian market.

  • Conference of speakers commends Tinubu on Tax Reforms

    Conference of speakers commends Tinubu on Tax Reforms

    …calls for legislative stability

    The Conference of Speakers of State Legislatures of Nigeria has praised President Bola Ahmed Tinubu for his efforts on the Tax Reforms Bills currently before the National Assembly.

    Chairman of the Conference, Rt. Hon. Adebo Ogundoyin, made this known in a communiqué signed by the body’s Director General, Busari Sarafadeen, in Abuja.

    The Speakers also acknowledged the leadership change in the Lagos State House of Assembly, urging strict adherence to constitutional provisions in the removal of state legislative leaders.

    They also welcomed court rulings affirming the legitimacy of the Rt. Hon. Martin Amaewhule-led Rivers State House of Assembly and urged Governor Siminalayi Fubara and other stakeholders to work with the duly constituted Assembly to ensure stability and progress in the state.

    The communique reads in part: “The Conference of Speakers of State Legislatures of Nigeria, after extensive deliberations on key national and sub-national legislative matters, issues the following resolutions:

    “Leadership Change in the Lagos State House of Assembly: The Conference acknowledges the constitutional provisions for the removal of presiding officers of State Houses of Assembly and emphasizes that such processes must strictly comply with the Constitution and enabling laws.

    Read Also: Tax reforms: Lessons in leadership

    “We appeal to all critical stakeholders in Lagos State to respect the independence of the legislative arm and ensure adherence to these provisions for the peace and progress of the state.

    “Crisis in the Rivers State House of Assembly: The Conference notes the court judgments affirming the legitimacy of the Rt. Hon. Martin Amaewhule-led House of Assembly.

    “We call on the Executive Governor of Rivers State, His Excellency Dr. Siminalayi Fubara, and other stakeholders to engage with the duly constituted Assembly to promote stability and progress.

    “Respect for judicial decisions and institutional harmony is essential for effective governance.

    “Tax Reform Bills: The Conference commends the President’s efforts on the tax reform bills currently undergoing legislative scrutiny at the National Assembly.

    “We acknowledge the citizens’ concerns and believe these will guide lawmakers in passing legislation that serves the nation’s overall interests.

    “If enacted, the reforms are expected to strengthen fiscal federalism by empowering states with greater financial autonomy through improved tax collection and administration, enabling them to fund critical infrastructure and public services for sustainable development.

    “The Conference of Speakers of State Legislatures of Nigeria remains committed to strengthening democracy, promoting legislative independence, and ensuring good governance across all states of the federation.”

  • Tax reforms: Lessons in leadership

    Tax reforms: Lessons in leadership

    Many thanks to the Nigerian Governors Forum (NGF) for dousing the firestorm needlessly stoked by some self-appointed activist-governors, Nigerians can look forward to an expedited consideration and hopefully the passage of Nigeria’s Tax Reform Bills by the National Assembly. Given how the forum managed the process – particularly the broad consensus that came after – based on their communique – most Nigerians will probably still be wondering what the entire fuss was all about in the first place.

    Imagine: now the NGF was unequivocal about the imperative ‘of a modern tax framework in ensuring fiscal stability’; the importance of aligning Nigeria’s tax system with global best practices hence their declaration of commitment to ‘a more efficient and transparent fiscal policy that will foster economic growth and development’.

    Even more interesting is that the governors didn’t appear to have come to the point without some specific ideas of their own: they wanted a revised Value Added Tax (VAT) sharing formula essentially driven by the need ‘to promote fairness and balance in resource distribution among the states’.

    They even proposed a sharing formula: 50% based on equality, 30% based on derivation, and 20% based on population, which, in their view, will ‘bridge the economic disparity between states, ensuring that all regions benefit from national revenue while rewarding states that contribute significantly to VAT generation’.

    Yes; the NGF considers any contemplation of an increase in the VAT rate or reduction in the Corporate Income Tax (CIT) a no-no at this time; they seek continued exemption of essential goods and agricultural produce from VAT to protect the welfare of Nigerians, support household incomes, and to promote agricultural productivity. They even recommend the removal of any terminal clauses in the allocation of development levies to critical national agencies, namely the Tertiary Education Trust Fund (TETFUND), the National Agency for Science and Engineering Infrastructure (NASENI), and the National Information Technology Development Agency (NITDA) – all in the effort to ensure uninterrupted funding of education, technological innovation, and infrastructure development, which are vital for Nigeria’s long-term growth.

    Read Also: 50% tariff hike: A necessary step or a burden for Nigerians?

    To imagine that this is coming from a 39-member body, 19 of whom on October 28, 2024 had all but pronounced on the bills as not only anti-North but actually instructed the lawmakers from their part of the country to reject them– based on their rather specious definition of ‘derivation’ in the sharing formula of the Value Added Tax; talk of a new day!

    Moving on: it is beside the point that the presidency did not, at any point, pretend that the proposals as outlined in the original bill were cast in stone; or as some of the opposing governors would have the world to believe that they came anywhere close to extra-constitutional executive orders or military decrees.

    It perhaps mattered less to some that the president neither dismissed the concerns of the elements opposed to it nor pretended at any point or indicated at forum that the draft bill was perfect. Or that all that the president wanted was that the process be made to run its full course in the finest traditions of law-making and constitutionalism, considering the sheer efforts that had gone into its making, as against the clamour by some to have it peremptorily aborted by any means fair or foul.

    Yes; all of those are apparently now forgotten. As they say – they belong to the past. Hopefully too the role of some leaders, who after confessing that they had neither read nor were prepared to even read the bill – still couldn’t imagine the president as deserving the benefit of the doubt let alone his prerogative to push an issue that could arguably be said to constitute another critical pillar of his economic reform agenda!

    Do we add the not-so-subtle blackmail by one Bala Mohammed of Bauchi State that his beloved North would show its true colours to the president and presidency if they insist on going ahead with the policies despite the outcries?

    “We will show our true colour; we will fight for it. No policy should be imposed on the people because Nigeria does not operate an oligarchy system of government or a military rule.

    “It is not a good policy for northern Nigeria because we are not going to get money to pay workers’ salaries, to do roads. The presidency and federal government must listen to our plights; otherwise, they are calling for anarchy. And that is not good”.

    Those were his exact words.

    Now, the wheels have turned full cycle.  Common sense has been allowed to prevail; talk of another moment to prove why leadership – of an enlightened, focused and effective variant – is neither cheap nor popular. Yes, the same play, which some arrogant and incurably bad actors had insisted must be called off for peace to reign – is back in session and in the designated arena of the National Assembly, which is precisely where it ought to be in the first place! And while it seems unlikely that the team of slow learners will ever admit to making a false call, it seems to me the ultimate test of leadership that the president, whom they have since resolved must be made to lead from behind, is the one making the final call – right in the front!

    Now, the rest of us can only but wonder about what shape their next game plan might take!

    This takes us to the other revelation – which I actually consider more troubling. We know – and the saying is true – that our governors are powerful. And that quite a good number only hanker after the peacock thrones and so cannot be seen to suffer the inconvenience of the daily grind that comes with the responsibility of the office. But that a section of the governors could openly threaten the president for doing the job that he was elected to do, simply because they find some of his policies disagreeable? How about setting new limits in gubernatorial errancy?

    Again, as they say, it is not truly over until it is over. Whereas the governors’ forum may have spoken, it seems early in the day to suggest that the bad faith and the toxic politics that characterised the discourse in the last few months will dissipate anytime soon. Nigerians had better prepare for the mutations of the same toxicity as the battle shits to the National Assembly. It is, after all, Nigeria’s season of opportunistic politics.  

  • To those attacking me for supporting Tax Reforms

    To those attacking me for supporting Tax Reforms

    “The only thing necessary for the triumph of evil, is that good men do nothing” – Edmund Burke an Irish Statesman.

    Insults and threats to my life will not change my quest for a better Nigeria

    This is a response to the backlash I’ve been receiving, which includes threats to my life with regard to my position supporting the tax reform Bill various Nigeria’s political class, particularly the northern political establishment and citizens to have a change of mindset with regard to how northern Nigeria should rethink northern Nigeria and change our current retrogressive trajectory of development to a positive trajectory. Indeed, it goes without saying that we are the most backward region in Nigeria, despite having produced more Presidents than any other region in Nigeria. The truth is the truth, no matter how much we deny it! And the sooner we face reality, the earlier we start sincerely taking the right steps to reverse the ugly trend for the better. Ignoring the reality will be at our own collective peril! By the way to those blindly insulting me and threatening my life, I am deterred. By the way, I am not known to shy away from speaking truth to power if I even stand alone.

    And then Nigerian Governors Endorse the Tax Reform Bill

    It is interesting that yesterday Nigerian Governors under the auspices of the Nigerian Governors Forum (across political party lines), finally endorsed the Tax contentious Tax Reform Bill. This is a very good development, especially after the pushback by some Governors and politicians who were vehemently against the Bill, so much so that the Governor Nasarawa State, His Excellency, Engr. Abdullahi Sule; a gentleman, and technocrat that I have high regard for; during a television interview called some of us, who are proponents for Tax reform as people looking for a job.  I am sure that his excellency’s perspective that we are “looking for a job” has changed since he has now joined “us” – the proponents of the Tax Bill (the so-called “job seekers”); as he is now in favor of Bill. In the past week, there was a growing number of politicians who are now accepting the Bill; having aligned with what I had consistently requested that we all do, i.e.; read the Bill, Consult, Engage, Debate and Negotiate, with a view to having a robust, acceptable, actionable and productive Tax reform in the interest of all Nigerians. Indeed, in the end, we will be vindicated.

    I commend President Bola Ahmed Tinubu, for his political sagacity in managing the process and polity to achieve a positive outcome. This significant milestone of the acceptance of the Tax Bill (with some modifications) will set the tone for the acceptance of the Bill by Nigerians and the ultimate passage of the Bill for a better Nigeria.

    The tax reform will be an opportunity for northern Nigeria and indeed the entire States across Nigeria and the FCT to reposition for more competitiveness and derive more value from their contributions to the economy rather than “killing” the tax reform initiative. If so, the North would lose a golden opportunity.

    Food for Thought for our Northern Nigeria

    The backlash and verbal attack, including political leaders interestingly, requires that I respond to reiterate my position, and I will continue to speak to our people, even if it is a few of them as I have seen the massive responses from various well-meaning Nigerians and indeed Northern Nigerians, supporting the narrative that I have been passing, objectively seeing the reasoning, seeing the foresight and looking at the strategy I appreciate a lot of Northern Nigerians for speaking truth to power, with a view to having a better society, with a view to having a better country. My context of contestations, reflections, and contributions is mostly apolitical. Of course, man is a political animal. But if I want my region to grow, if I want Nigeria to prosper, then I would love northern Nigeria to grow. Because indeed, if northern Nigeria grows, then ultimately Nigeria will be better. I use this opportunity to say loud and clear, like I have said in other forms, that northern Nigeria is not the only region that requires reform, it requires a rethink for progressiveness and progression. As we have seen, some leaders of thoughts from other regions come together to rethink their region, to push a collective agenda for the progress of their region. Last week, Nigerians witnessed the emergence of the new President General of Ohaneze Ndigbo, Senator Azuta Mbata. This socio-cultural group has largely demonstrated cohesion (despite some dissenting positions), just like other regions enforced the agenda for the progress of their respective regions while not losing focus, you know, of the unity of our country. It is within that for over 30 years, I have been contributing my humble opinions, and trying to redirect our thinking and influence us to rethink our region for the betterment of our people, to rethink our region for the betterment of Nigeria, rethink leadership of Northern Nigeria with a view to adding more value so that we can also have a better strategic position, better than just political power in terms of population.

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    Northern Nigeria has a proliferation of interest groups that are here to be able to harmonize positions and move in one direction with one voice. I’m not saying that we should not have different interest groups with different thinking, but the earlier we start having a unity of purpose in our movements, the more likely we are able to have a mindset that will move us together in a unified, progressive direction. Otherwise, the mismatch of ideologies, visions, and misalignment of objectives will further polarize the North and further exacerbate the current spiraling of the North into the abyss of backwardness. From insecurity to increased infant maternal mortality, 70% of about 130% of the multidimensionally poor Nigerians are from the north, which translates to about 90 million or so, almost close to the total population of Sudan.

     Divergence of views and ideas is what makes societies more productive and successful. But only if those views and ideas are canvassed respectfully and constructively. Characterization of opposing ideas and views will not invalidate the substance of those views or ideas but could deny that society or nation some quality opportunities for growth and Development at the peril of the people and to the advantage of other societies or countries.

     The northern leaders must harness the wealth and potential of northern Nigeria and translate them into real core value or real social-economic value for Northern Nigeria and indeed for the entire country and even the Sahel. The history of Northern Nigeria is so rich and important that reducing the conversation the way we have been reducing it, discounting any valuable contribution and emphasizing the need for us to have these hard conversations, you know, leaves much to be desired, and speaks volumes with regards to how bad and how things are, you know, happening and becoming in northern Nigeria.

     The 1 billion US Dollar question for Northern Nigeria is, are we making any positive progress as a region? And if so, should we ask ourselves those questions as to why we are not making the right progress or moving in the right direction, to say the least, or should we continue living in self-deceit and pretend that all is well just because we don’t want some people don’t want to offend some people or we should allow some people to continue leading the north by the nose into the abyss of retrogression.

     The culture of weaponizing or demonizing constructive and progressive opinions by gaslighting the people by politicians, religious leaders, and traditional rulers is not only bad but antithetical to the progress of our societies and Country. The hallmark of critical thinking, especially in a diverse society is to engage a thought process of status quo a view to achieve a more desirable outcome.

     I have had cause to contribute to constructive criticism of some Policies of this administration and President Tinubu listened to us and either reversed or stood down those decisions in the interest of the policies. Some of the policies include the expatriate quota policy, etc. That should also be the attitude of Governors and political leaders, i.e to objectively listen and where necessary adjust strategies and policies in the overall interest of Nigerians, who are actually the mandate owners.

    Indeed, political leaders from other regions are also not different from northern political leaders. Having recognized that we have excellent, excellent political leaders who are governors and ministers but they indeed are in the minority and I will continue pushing you know the narration and the thought discussions you know along with other very eminent Nigerian patriots until we start listening. We must tell ourselves the truth, and that’s the bottom line.

    It is in the light of the foregoing that I have been speaking and it is in this light I’m still urging, with profound respect to our political leaders with profound respect to our leaders of thought, traditional religion, etc. to rethink Nigeria. God Bless the Federal Republic of Nigeria