FEATURES

FEATURES

Nollywood actress, Mercy Aigbe has finally spoken about her decision to marry popular movie marketer, Kazim Adeoti, professionally called Adekaz.

The actress spoke during her recent appearance on _Nollywood on Radio’.

Mercy Aigbe announced her third marriage with Adekaz in January 2022, as second wife.

Speaking of her decision to be Adekaz’s second wife, the actress stated, “One of the reasons I got married to him is that we are both in the same industry.

“Together, we are building a production empire. I just felt I needed someone to collaborate with in the industry, and it is a good thing that he understands it too. Combining our strengths, the future looks promising.”

Popular singer and half of P-Square, Peter Okoye, aka Mr P, has debunked the song theft allegation levelled against him by his twin brother and former bandmate, Paul Okoye, aka Rudeboy.

Rudeboy recently accused Mr P and their former producer, Vampire, of stealing his songs.

He claimed that he wrote and sang a song titled ‘Winning,’ which was supposed to be released with his album next year. To his surprise, Mr P released the same song by the same producer.

Reacting to the allegation, Mr P claimed that the song was co-written and composed by himself and Calypso60.

He stated that it was impossible for him to steal his own song as claimed by his twin brother.

He begged his brother to allow him to focus on making music and stop the negativity.

In an Instagram post, Mr P wrote, “Person no dey thief him own Property! It is well! Thank you, @iam_vampire_official, for the clarification.

“For the record, ‘Winning’ was written and composed by @calypso60music and myself. Produced by @iam_vampire_official and co-produced by @goldswarm.

“They all deserve their Credit. And I appreciate them.

“Just As I said in my open letter three months ago, ‘Allow me to do my music in peace.’

“Now that I have a new single out, please allow me to enjoy my new single, WINNING, in peace. Enough of the negativity!

‘Winning’ is out on all music platforms; continue streaming and don’t get distracted. Love y’all, peace.”

The Chairman of the Federal Civil Service Commission, Prof. Tunji Olaopa, has decried what he identified as a palpable poor state of policy research with a virtual disconnect between the objectives of the research industry and the concerns of policy makers in government.

The seasoned public administrator spoke during the 6th General Assembly and Conference of the Association of African Public Service Commissions (AAPSCOMS) held in Nairobi, Kenya, from 6 to 8 November.

Olaopa spoke on the topic "Defining Issues in Research And Policy Linkages In Country-level Development Management in Africa." During the event, Olaopa emerged as the Vice President of AAPSCOMS for West Africa.

According to Olaopa, the disconnect is evident in the incredibly low level of research spend in Africa when compared to global total contributions. He added that the evidence that validates this is the fact that the bulk of usable development and administrative statistics generated in Africa are funded by foreign development agencies.

"This reality explains why African states cannot design their development agenda on their own terms. It also validates the reigning theory that African policy-makers do not as yet understand what development is all about", he said.

In his recommendation, he said "Africa needs a corps of scholars-practitioners evangelists who will push for a significant shift from common sense praxis to a more rigorous scientific approaches to development management in Africa."

Olaopa referenced President Bola Tinubu's desire to institute a government of national competence as a policy framework capable of galvanizing a shift from the pervasive “know-who” nepotism to “know-how”. He enjoined political parties to emulate practices in advanced democracies where for example the Democratic Party in the USA is technically backstopped by the Brooking Institution and the Republican by the American Enterprise Institute. He went further to advocate the professionalisation of planning and policy analysis departments, investment in future research and scenario planning and creation of special cadre in public service into which experts from other sectors of the economy and from the diaspora can be desk officers on renewable performance contracts outside of career paths in the public administration system

He lamented that African states still focus on the hardware of development namely, how many roads, schools, hospitals, mass housing, etc. are built, in utter disregard for intangible assets that enable sustainable development such as the quality of country’s human capital and education; the strength of institutions, rule of law and constitutional order; the value of social capital of communities, efficient judicial system, property rights, timely and reliable statistics, reformed public service, R&D, data security and privacy, intellectual property, patents, copyright, culture of innovation, knowledge creation, to name just a few. Most African states have indeed not confronted a critical indicator of underdevelopment around the question regarding why talented African professionals or experts in Canada, Germany or Japan are ten times more productive than their counterparts who choose to remain in Africa. The answer is that once they walk into those development enabled places, they step into a capacity context provided by an intangible per capital wealth worth on average over $500,000 compared to those in Africa contending with a paltry of $2,748 per capital.

He referenced Prof. Wolgang Stolper, hired by the World Bank in 1962 as Technical Adviser to the Nigerian government in the design and implementation of the country’s First NDP (1962-68), who "delivered a prescient judgement that goes to the heart of African development problematic in a seminal reflection published in 1966.

"Prof, Stolper had published an article titled 'Planning without Fact' as an account of his experience working in Nigeria. His basic thesis was that Nigeria is a country that plans and manages her development programmes without the benefit of evidence-based practices, by merely shooting in the dark, in unscientific manner."

To Olaopa, "this suggests that policy management practices in Africa are ridden in several countries, contexts and over time, with essential lack of statistical parameters by which implementable and sustainable development policies ought to be crafted. In other words, there is an unabating lack of a data culture and associated scientific parameters which makes it difficult to design and implement cogent policies that address strategically, poverty, unemployment, the youth bulge, climate change, induced flooding and all, terrorism and associated insecurities, and in managing critical macroeconomic challenges that the continent faces, within game-changing dynamic".

For Olaopa, policy-engaged research is at a crossroads as research centres in African states are increasingly torn between their original calling to conduct research and publish, and pressure to justify and sustain their existence .

The research agenda of these centres and those of local experts are generally dominated by themes and topics of concern of external partners and the major funders of policy research.

Thus for him, although public policy researchers complain against their works not being used by government, research institutions and think-tanks in Africa need to be strengthened so that they could mobilise resources from external partners, the private sector and civil society organisation without losing their autonomy in formulating their research programmes as such capacity would determine their effectiveness .

The immediate past Minister of State for Housing and Urban Development, Abdullahi Tijjani Gwarzo, has questioned the rationale behind his dismissal from the cabinet of President Bola Tinubu.

According to Gwarzo, President Tinubu had informed him that Kano was overloaded with political officers, hence the need to cut down on some people from the state.

 

The former Minister, however, insisted that he wasn’t found guilty of any wrongdoing or poor performance, adding that he suspects that some people are behind the President’s decision to sack him.

He also added that after President Tinubu informed him of the pending dismissal, some suggestions were made regarding his replacement, but they were ignored.

Gwarzo argued further that the 2023 All Progressives Congress (APC) gubernatorial candidate in Kano, Nasir Gawuna, should have been offered the opportunity to represent Kano Central in the federal cabinet.

Speaking with BBC Hausa about his dismissal from Tinubu’s cabinet, he said: “I was surprised because I wasn’t found guilty of any wrongdoing or poor performance. And I was a minister of state with the senior minister who handles a large chunk of the ministry’s activities.

“Before the announcement, the President had put me on notice of his decision.

“He said Kano North was overloaded with political officers, hence the need to strike a balance. We gave our advice, but it was ignored.

“From there I began to suspect that some people are behind this, because for me that wasn’t a valid reason.

“If it’s true that the ministerial slot will be allocated to Kano Central, we have our 2023 gubernatorial candidate, who is also our leader in Kano Central. Why not consider giving him the slot?”

“Gawuna should be offered the position first, unless he declines, in which case it could be given to someone else.

“All his other colleagues who contested in other states were given positions, such as the candidates from Plateau and Zamfara states.”

[NaijaNews]

The outgoing Governor of Edo State, Godwin Obaseki, has warned the incoming governor of the state, Monday Okpebholo, against prioritising politics over security, saying there will be problems if he does.

Obaseki gave the advice in Benin during the state’s security meeting with heads of security agencies in the state.

He said his administration was leaving the security of the state much better than he met it in 2016.

“My advice to the incoming administration is to take security seriously and never prioritise politics over security because there will be problems as citizens need to demand a secure environment.

“We have shown that it’s possible because we have men and women who have the capacity and training to offer security services to the state and the people of the state,” Obaseki said.

Attributing his success to the collaboration and support received from heads of security agencies, Obaseki said they had collectively changed the narrative and the perception about security in the state.

According to him, the development and growth in the domestic environment and the interest of investors in the state was due to the secure environment in the state.

Obaseki further pointed out that by adopting technology, his administration was able to cover the state and make it safe for the people, adding that it was able to document every incident in the state and work together to provide responses to the security situation.

He, however, called for the participation of all stakeholders in fixing the nation.

[DailyPost]

  • Workers demand new deal for pensioners too Imo, Plateau, Osun still negotiating

With the battle for a new minimum wage settled in most of the 36 states,workers are now shifting attention to the payment of the arrears of their remuneration.

Many of the states commenced payment of the new wage last month while some have promised to do so at the end of this month.

But Imo,Osun and Plateau state governments are yet to commit themselves on how much they are willing to pay and when they plan to start paying.

The Minimum Wage Act  took effect from July following the signing of the bill by  President Bola Tinubu on July 29.

Negotiation between government (Federal and States),organised labour and the private sector on the matter  took some time and when it was all over,the state governors asked that they be given till the end of October to enable them put their finances in order. 

One of the states already preparing for negotiation of payment of arrears of the new wage is Katsina.

Chairman of the state  chapter of the Nigeria Labour Congress (NLC), Comrade Hussain Hamisu,told The Nation by phone that labour is scheduled to commence negotiations with the state government on the payment of arrears  and  on how retirees could benefit from the new salary structure.

The committee set up by the state government on the new minimum wage is about rounding off its assignment.

Hamisu said once the committee completes its assignment in another two weeks, negotiation on the arrears will begin.

‘’Retirees must equally be considered during negotiations, considering the fact that there was a circular on their benefits and entitlements at the time of their retirements,’’ he said.

The NLC boss said  Katsina has a history of timely wage payments and taking care of the interest of workers.

The 15- member committee on the minimum wage was charged with the responsibility of advising the state government  on strategy and modalities for the  implementation of the new salary structure.

No question of arrears, retirees in Delta – NLC

Civil servants in Delta State are not looking forward to receiving arrears of the new minimum wage, according to the local chairman of the NLC, Comrade Goodluck Ofobrukwu.

He said the NLC was satisfied with the implementation of the new wage structure by the state government .

Ofobrukwu, in a telephone interview with The Nation, said the effective date for implementation date of the new minimum wage was October 1, and therefore will be no need for negotiations on payment of arrears.

Payment of the new minimum wage to retirees commenced also in October.

 His words: “The Federal Government circular is with effect from 29th July, 2024. In Delta State, we agreed that the effective date should be 1st October, 2024, so there is no question of arrears. And we have been paid

“Some states are taking 1st November, others 1st October, some have not started. If we are adopting the circular and taking 1st October, which has been implemented, then there is no question of Delta State government paying arrears.

 “The pensioners you talked about, the N32,000 that the Federal Government asked to be added to their salary has been added with effect from 1st October. That was the agreement we signed with the state government, so it has taken effect from 1st October.”

No agreement yet on arrears in Kwara

The   Kwara State government agreed to commence payment of N70,000 as minimum wage from last month but asked that discussion with organized labour on arrears be put on hold.

Government, according to the local  chairman of the Trade Union Congress (TUC) Olayinka Onikijipa,said  sustainability of payment of the new minimum wage was more important than arrears for now.

“For sustainability, they said we should put on hold any discussion on payment of arrears,” Onikijipa said.

He added:” That is not what the law says. But we will continue to push for its implementation.’

On the fate of pensioners, he said:”The issue of extending the payment to pensioners has not come up at all. Pensioners are not yet captured in the state.”

Enugu still sorting out  consequential adjustment of minimum wage

Payment of the new minimum wage took off in Enugu State last month but it was without consequential adjustment. 

Government is yet to finalise work on that aspect of the new salary structure.

Chairman of the NLC in the state, Comrade Fabian Nwigbo, confirmed to The Nation in Enugu that civil servants went home with the new salary at the end of October while they now await conclusion of work on the consequential adjustment.

He said:”Now, what the committee is working on is the consequential adjustment and chart on the announced minimum wage.

“I believe everything will be ok soon.”

He said the NLC had reached out to government on  the plight of pensioners and  “I hope at the appropriate time he will address the request.”

Imo Govt, Labour close to agreement

Organized labour in Imo State is optimistic of reaching an agreement soon with the state government on the consequential adjustment of the minimum wage.

Chairman of the TUC  in the  state, Comrade Uchenna Great, said the conclusion of negotiation with government was caused by the foreign trip of Governor Hope Uzodimma.

 

He said:” organized labour had its own committee before the governor left… We met and discussed, the discussion centered on consequential adjustment.

“If both sides agree on the adjustment that will follow, we will come to an agreement and then sign, but both sides are waiting for the return of the governor.”

Comrade Uche Chigemezu, Imo State NLC Chairman, corroborated Great’s position, saying: “The state government has agreed to pay but we have not finalised on the matter.”

Why we couldn’t start payment of minimum wage in October – Gov Otti

Abia State governor, Alex Otti,  said the planned commencement of payment of the minimum wage in October failed to materialise because of a “computation error”.

But he said both sides have now reached “an amicable agreement” and payment will start at the end of this month.

The chairman of NLC in the state, Comrade Ogbonnaya Okoro, could not be reached.

Bayelsa tasks LGAs on revenue generation

The Bayelsa State government has warned local governments in the state to intensify their internal revenue generation effort to be able to cope with their financial obligations to their employees.

Deputy Governor Lawrence Ewhrudjakpo said in Yenagoa, the state capital that the councils must devise independent sources of revenue and desist from depending solely  on the  monthly federal allocations.

Receiving a delegation of   the state chapter of  the Nigerian Union of Pensioners (NUP), in his office, Ewhrudjakpo said it would be difficult for the councils to pay and sustain the new minimum wage if they continued to  completely depend on statutory allocations from Abuja.

“I have asked experts in that area to work out the new minimum wage to see what the local governments will be able to pay. I know that council workers will insist that they should be paid like their state counterparts,” he said.

“But we should know that the state government and local governments do not have the same level or sources of funding. How many of our local governments are able to generate N100 million in a  whole year? Just only  a few of them.

“As I said earlier, the details of what is going to cost each local government area must be worked out first because if we are not careful, our councils will go bankrupt.

“That is why I have told them to be very innovative and serious about generating revenue for the councils. There is nothing that stops you from collecting little money from people selling in the market. Or, collect licenses from boat, motorbike, keke operators. That’s not a crime. It is legitimate.”

He assured the retirees that government was working hard to settle all  pensioners who were inadvertently omitted in the payment of gratuities across board last year.

He also promised to make some effort to ensure that local government retirees have a share of the N7 billion the state government recently announced for the  payment of outstanding gratuities.

On the issue of upward review of monthly pensions to the retirees, he said such review would be based on the capacity of the local governments.

Negotiations on N70,000 minimum wage ongoing – Plateau NLC

Civil servants in Plateau State expect to start enjoying the new minimum wage by the end of this month.

The state Chairman of the NLC, Comrade Eugene Manji, told The Nation that negotiations with the state were  ongoing.

 “We are still  negotiating  with the government committee on the minimum wage,” he said.

“Nothing is concluded yet but we have gone far with the negotiation. And I hope that negotiations will be  concluded in the next few days so that  payment of  the minimum wage will commence this November.”

Kano civil servants too

Kano State civil servants are also hopeful that they will go home with the new salary this month.

Governor  Abba Yusuf  has already approved N71,000 as minimum wage.

Chairman of NLC in the state, Comrade Kabiru Inuwa, said the union was in negotiations with government on the payment of arrears and extension to retired workers.

“They (civil servants) will be paid their N71,000 minimum wage  this November,” he said.

“We are in negotiations over payment of arrears. For retirees, we are also on their matter. We are holding talks,” Inuwa said.

The NLC state chairman said there are some workers in the state whose pay is  as low as N5,000 but the union is negotiating to improve their wages.

“We are on top of all this,” he said.

Osun workers in limbo

Employees of the Osun State government are not sure of anything regarding the minimum wage despite assurances by agents of government that it will abide by the law on the matter.

The committee set up by the state government on consequential adjustment is still working, The Nation gathered in Osogbo.

 Unlike other state governors, Governor Ademola Adeleke has not announced how much the state government is willing to pay.

Chairman of the NLC in the state, Comrade Chris Arapasopo  could not be reached for comments.

[TheNation]

The Federal Government’s budget deficit has risen to 7.5 per cent of the country’s Gross Domestic Product as of August 2024, reflecting a significant widening of the gap between government revenue and expenditure.

A member of the Central Bank of Nigeria Monetary Policy Committee, Muhammad Abdullahi, disclosed this in his personal statement at the 297th MPC meeting. The document was published on the website of the central bank.

This was as the CBN economic report revealed that Nigeria’s fiscal deficit surged to N4.53tn in the second quarter of 2024, up from N3.88tn in the previous quarter.

In simple terms, a fiscal deficit happens when a government’s spending exceeds its revenue from taxes and other sources. It means the government is spending more money than it’s bringing in.

To cover this gap, the government often borrows money, which can lead to an increase in public debt.

Abdullahi said this development underscores the ongoing challenges the government faces in enhancing its revenue generation efforts.

It also signals a greater reliance on borrowing to finance the growing expenditure, raising concerns about the long-term fiscal sustainability and potential impacts on national debt levels.

Highlighting the challenges posed by the situation, the MPC member stated that the committee must remain proactive in dampening the likely consequences of the deficit, especially with the commencement of the new minimum wage payment.

He said, “The Federal Government’s fiscal operations resulted in a budget deficit of 7.6 per cent of GDP as of August 2024.

“Monetary policy must thus remain proactive in dampening the likely consequences of the deficit especially when the implementation of the new minimum wage gains traction.”

“The deficit could, however, narrow as ongoing efforts to enhance revenue generation and reduce government expenditure are expected to improve the fiscal outlook.

“The narrowing of the fiscal deficit will have positive implications for overall macroeconomic stability.”

 

Similarly, Senior Fellow and Director of the Africa Growth Initiative at the Brookings Institution and member of the Central Bank of Nigeria Monetary Policy Committee, Aloysius Ordu, while expressing his views on fiscal policy, stated that challenges abound that are at odds with the CBN’s firm anti-inflationary stance.

“A review of the fiscal indicators for the first half of 2024 showed that FGN revenues under-performed, achieving only 37.9 per cent of the target, due largely to the deficit in FAAC receipts.

“Recurrent spending exceeded targets, largely due to debt service payments, while spending on the capital account continued to underperform. As of mid-2024, the overall fiscal deficit exceeded budget projections by over 85 per cent, emphasizing the need to re-prioritize spending in favour of much-needed capital projects. It also emphasizes the need for the CBN to avoid monetizing the deficit,” he stated.

Also, the Deputy Governor for Operations at the Central Bank of Nigeria, and member of the Central Bank of Nigeria Monetary Policy Committee, Emem Usoro, emphasised that “other pressure points 20 for price stability include, the widening fiscal deficit occasioned by fiscal stress from the revenue side, exchange rate fluctuations emanating from seasonal effects and supply constraints, and climatic factors which have exacerbated supply chain disruptions.”

Also speaking on the issue of revenue generation, the immediate past Director-General of the Securities and Exchange Commission and member of the Central Bank of Nigeria Monetary Policy Committee, Lamido Yuguda, stated that revenue generation remains a daunting challenge for the FGN.

“From January to June, the retained revenue showed a significant (33.31 per cent) improvement over the corresponding period in 2023, but fell 62.10 per cent short of the target for the period.”

“This low revenue base underscores the poor fiscal performance in the period, as provisional numbers show that the level of fiscal deficit at mid-year (January to June 2024) is already 91.94 per cent of the projected amount for 2024,’ he concluded.

In the economic report, the CBN said the deficit in the first six months saw a notable rise, and the federal government’s revenue remittance increased only marginally to N2.3tn.

This figure represents a 57.66 per cent increase from the first quarter but still falls 52.49 per cent short of the target for the period, prompting a heavy reliance on deficit financing.

The report also highlights that while the government gains from foreign exchange revenue due to naira devaluation, its overall expenditure expanded significantly to N6.83tn, driven largely by high-interest payments on loans and other financial obligations.

This marks a 27.79 per cent increase from the previous quarter, with recurrent expenditures dominating the spending.

The data shows that 89.7 per cent of the federal government’s expenditure was on recurrent costs, while capital and transfer payments accounted for just 3.66 per cent and 6.37 per cent, respectively.

[Punch]

The Registrar of the Joint Admissions and Matriculation Board (JAMB), Professor Ishaq Oloyede is soon to be turbanned as Kuliyan Sokoto.

This followed a recent approval by the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar, confering the traditional on Oloyede who is also the Secretary General of the Nigerian Supreme Council for Islamic Affairs (NSCIA). The Sultan is the President General of the Council.

Information about the conferment of the title on Professor Oloyede was contained in a letter signed by Umaru Abubakar III, Private Secretary to the Sultan.

In the letter dated 2nd November 2024 and titled CONFEREMENT OF TRADITIONAL TITLE OF KULIYAN SOKOTO, Abubakar wrote: “I am pleased to inform you that in recognition and appreciation of your invaluable contribution to the development of the Muslim Ummah, the Sultanate Council, Sokoto, Sokoto State, Nigeria and humanity in general, His Eminence, Alhaji Muhammad Sa’ad Abubakar, CFR, mni, the Sultan of Sokoto, has approved conferement of traditional title of Kuliyan Sokoto on you today 2nd November 2024.

” The details of the formal turbanning ceremony will be communicated later. While wishing you the best of luck and Allah’s guidance in your future endeavors, please accept my heartfelt congratulations. ”

[theshieldonlineng]

The Chairman of the Presidential Tax Reform Committee, Mr. Taiwo Oyedele, has raised the alarm that businesses will suffer while the economy would retrogress if state governments are allowed to collect value-added tax (VAT).


Speaking on a live television programme at the weekend, Oyedele recalled that a similar approach was attempted in the 1980s with sales tax, but the sub-national governments failed to generate significant revenue through it.


“By 1999, we were writing the constitution because we now have the 4th Republic. But what we did was to just replicate the 1979 Constitution,” Oyedele said.


“In 1979, there was no VAT. So, there was no VAT in the 1979 Constitution.


“However, by 1999, we had implemented VAT for about five years. And it was becoming our top revenue tax. How on earth did we forget to put it in the 1999 Constitution? “Because it wasn’t stated in the 1999 Constitution, lawyers will state to you that it’s a residual matter.
“Because it’s a residual matter means it belongs to the subnational. That’s why Rivers State and Lagos State have been to court and won.


“If we get a judgment from the Supreme Court today, it will tell you that VAT should be collected and administered by the states. That will be chaotic.


“States will collect less, businesses will suffer, the economy will retrogress.


“On balance, the new reform is meant to treat everybody equitably. Try to get us out of the impression that when you start doing VAT at state level, you make so much money, which is not the case.
“In fact, today, the VAT on imports and international services is actually more than the VAT we collect in Nigeria, within our jurisdiction.


“And that amount that is collected from international services and import VAT is not attributed to any state. It goes into the pool and is shared.
“So, today we shared VAT between and among states based on derivation, 20 per cent; based on equality, 50 per cent; and based on population, 30 per cent we are proposing that correct derivation and share, 60 per cent based on derivation, 20 per cent based on population and 20 per cent based on equality,” he explained.
Oyedele also said another more attractive proposal by the committee is to allow the federal government to reduce its VAT share, and give room for states to have more.


“We thought it was going to be very difficult for the federal government,” he said.
“We asked the federal government, can you please seed five per cent of your share to the state instead of taking 15 per cent, why don’t you take 10 per cent, now we have five per cent that can give us a buffer that we can use to do fiscal equalisation and actually writing the law to guarantee every state that as a result of our reform, you will not collect less than you would have collected under the old formula.
 “I thought that should be good enough. It’s actually just saying to you as a state that your risk is zero, but the upside is significant.


“Your VAT revenue can double in less than two years if they allow this reform to go through, because it would also motivate states to take interest in the economic activities within their jurisdiction,” he added.
Oyedele further said the new tax reform bills under consideration at the National Assembly will halt revenue collection by federal agencies such as the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigeria Customs Service (NCS).

 


He said the bills aim to stop approximately 60 federal agencies from collecting taxes, allowing them to focus on their primary mandates.
The committee chairman added that the new measures will simplify tax collection across the country and enhance the operational capacity of the agencies.
President Bola Tinubu had on October 3, asked the National Assembly to consider and pass four tax reform bills.


The bills include the Nigeria Tax Bill, the Tax Administration Bill, and the Joint Revenue Board Establishment Bill.
According to the bill, VAT would be increased to 10 per cent by 2025 and reduce Company Income Tax (CIT) to 27.5 per cent from an average of 30 per cent over the same period.
Under the proposed bill, Personal Income Tax (PIT) will be raised to 25 per cent for high earners from next year, from about 20 per cent.

President Joe Biden will meet with President-elect, Donald Trump at the White House on Wednesday after the US leader pledged an orderly transfer of power back to the Republican he beat in elections just four years ago.

 


Trump, who never conceded his 2020 loss, sealed a historic comeback to the presidency in the November 5 vote, cementing what is set to be more than a decade of US politics overshadowed by his hardline right-wing stance.
Biden will join the tiny club of US presidents to return power to their White House predecessor — with a previous instance coming when president Benjamin Harrison handed back to Grover Cleveland in the 19th century.


The Democrat will meet Trump at the Oval Office at 11:00 am (1600 GMT), the White House said Saturday, with the clock ticking down to the ex-president’s return to power in January.
The 78-year-old ex-reality TV star won wider margins than before, despite a criminal conviction, two impeachments while in office and warnings from his former chief of staff that he is a “fascist.”
Exit polls showed that voters’ top concern remained the economy and inflation that spiked under Biden in the wake of the Covid pandemic.


Biden, who dropped out of the race in July over concerns about his ability to continue at the age of 81, called Trump on Wednesday to congratulate him after his election win.
The Democratic leader urged Americans in a solemn televised address to “bring down the temperature,” in stark contrast to Trump’s refusal to accept his 2020 election defeat.
Trump has begun to assemble his second administration, naming campaign manager Susie Wiles to serve as his White House chief of staff.

 


She is the first woman to be named to the high-profile role and the Republican’s first appointment to his incoming administration.
“Susie is tough, smart, innovative, and is universally admired and respected,” Trump said of the steely 67-year-old Florida native. “Susie will continue to work tirelessly to Make America Great Again.”
The other frontrunners for a place in the Trump 2.0 administration reflect the significant changes it is likely to implement.


Robert F. Kennedy Jr., a leading figure in the anti-vaccine movement for whom Trump has pledged a “big role” in health care, told NBC News on Wednesday that “I’m not going to take away anybody’s vaccines.”
The world’s richest man, Elon Musk, could also be in line for a job auditing government waste after the right-wing SpaceX, Tesla and X boss enthusiastically backed Trump.
Trump is expected to wield the axe on many of Biden’s signature policies. He returns to the White House as a climate change denier, poised to take apart Biden’s green policies with his pledge to “drill, baby, drill” for oil.