Ahmad Gumi, a Kaduna-based Islamic cleric, has backed President Bola Tinubu’s tax reform bills, saying the proposed laws are a wake-up call to northern Nigerian leaders to develop their region.
Gumi said the tax reform bills would create more opportunities in the economy than the existing tax system, which promotes multiple taxation.
The cleric stated this on two different occasions on Tuesday and Wednesday in Kaduna. The videos of the conversation were posted on his Facebook page.
The bills are the Joint Revenue Board of Nigeria (Establishment) Bill, 2024 -SB.583; the Nigeria Revenue Service (Establishment) Bill, 2024- SB.584; and the Nigeria Tax Administration Bill, 2024- SB. 585; and the Nigeria Tax Bill, 2024 – SB.586.
Some experts said most critics of the bills had not read their provisions and were only amplifying falsehoods circulated by uninformed interest groups.
Gumi lamented that the debate on the bills is political. He said northern leaders should instead debate their region’s backwardness and why they allow industries and banks to go bankrupt.
However, he identified grey areas in the bills. He said the VAT sharing formula that ignited the debate should be given a second look.
“I heard people debating that Lagos will benefit more from the new sharing formula in the proposed tax reform bills; this should not be the issue to debate on; our leaders should not say so. You said the corporate headquarters were relocated to Lagos, where are your banks’ headquarters in Kaduna or Kano?
“You people were sleeping; you deliberately allowed the population to wallow in poverty. You are shouting over the tax reform bills; where are our industries? Who among you invested in the industries in Kakuri to sustain them? Only the breweries are still functional in the area. We are always applying politics on issues where there is no need for it.
“Nigeria needs the new tax system to move away from the obsolete system that promotes multiple taxation. You cannot throw away the tax reform bills, adopt them, and address their grey areas.
“If we want development, let’s build industries, cultivate more land, and have banks,” Gumi said to the northern leaders.
“Nigeria is blessed with wealth across all regions, so our leaders are treated with dignity globally. France is treating Nigeria with caution; the way they warmly received President Bola Tinubu means a lot.”
Gumi said the debate on the tax reform bills should be conducted by people who are knowledgeable in the field.
“The tax reform bills exempting low-income earners from paying taxes is a welcome development. This should apply to all low-cadre workers, including security agents; doing so will greatly help Nigerians.
“The attempt of the president to reform the collection system is commendable, continuing in the old system will not be good for the country because of the multiple taxation,” the cleric said.
PT
[STATE HOUSE PRESS RELEASE] President Tinubu Celebrates Abdulkabir Adisa Aliu, Founder and CEO Of Matrix Energy Group, On His 50th Birthday
AdminPresident Bola Ahmed Tinubu extends his heartfelt congratulations to Abdulkabir Adisa Aliu, the founder and CEO of Matrix Energy Group, as he marks his 50th birthday on December 5, 2024.
This significant milestone not only commemorates Abdulkabir's personal journey but also highlights his remarkable contributions to the energy sector and his profound impact on fostering economic growth and social development in Nigeria.
President Tinubu commends Abdulkabir for his transformative role in Nigeria’s energy landscape and his unwavering commitment to economic progress.
As an entrepreneur, Abdulkabir has successfully broadened the scope of Matrix Energy Group to encompass logistics, shipping, LPG distribution, and fertiliser blending. His leadership has spurred innovation and excellence across these vital industries.
The President recognizes Abdulkabir’s philanthropic endeavours, which have led to the construction of a state-of-the-art Kidney Complex in Maiduguri and at the Obafemi Awolowo University Teaching Hospitals Complex (OAUTHC), the renovation of healthcare centers, and the provision of essential medical supplies to host communities.
Additionally, he has endowed scholarships for over 4,000 students and empowered women through skills training and financial support.
“Abdulkabir Adisa Aliu exemplifies the spirit of resilience, innovation, and service that elevates communities and strengthens our nation,” President Tinubu stated.
In his capacity as a member of the Presidential Economic Coordination Council (PEEC), Mr. Aliu continues to play a pivotal role in advancing Nigeria’s economic agenda.
The President wishes him continued success, robust health, and personal fulfilment in the coming years.
Bayo Onanuga
Special Adviser
Information & Strategy to the President
[PHOTO] Gov. Sanwo-Olu Disburses N1.5 Billion Compensation to Lagos Residents for Acquired Lands by Lagos State Government
AdminGov. Sanwo-olu presents cheques to 150 beneficiaries as compensation for lands acquired by lagos state govt for public use, held at adeyemi bero auditorium, alausa, ikeja, on tuesday, 3rd December 2024
See Photo Below:
l-r: Permanent Secretary, Lands Bureau, Mr. Kamal Olowosago; Opeluwa of Lagos, High Chief Yusuf Ajose Aderibigbe; Commissioner for Women Affairs & Poverty Alleviation, Mrs. Cecilia Dada; member, Lagos State House of Assembly, Hon. Gbolahan Yishawu; beneficiary, representatives of Ogunsanya and Ogunsanya; Governor of Lagos State, Mr. Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; Executive Secretary, Lands Bureau, Mrs. Ololade Ajetunmobi and Head of Service, Mr. Olabode Agoro during the public presentation of cheques to 150 beneficiaries compensated for lands acquired by the Lagos State government for public use, at the Adeyemi Bero Auditorium, the Secretariat, Alausa, Ikeja, on Tuesday, 03 December
l-r: Commissioner for Women Affairs & Poverty Alleviation, Mrs. Cecilia Dada; member, Lagos State House of Assembly, Hon. Gbolahan Yishawu; beneficiary, Alhaji Muritala Abubakar; Governor of Lagos State, Mr. Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; Executive Secretary, Lands Bureau, Mrs. Ololade Ajetunmobi and Head of Service, Mr. Olabode Agoro during the public presentation of cheques to 150 beneficiaries compensated for lands acquired by the Lagos State government for public use, at the Adeyemi Bero Auditorium, the Secretariat, Alausa, Ikeja, on Tuesday, 03 December 2024
l-r: Member, Lagos State House of Assembly, Hon. Gbolahan Yishawu; beneficiary, Estate of Chief Robert Jaiyeola; Governor of Lagos State, Mr. Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; Executive Secretary, Lands Bureau, Mrs. Ololade Ajetunmobi and Head of Service, Mr. Olabode Agoro during the public presentation of cheques to 150 beneficiaries compensated for lands acquired by the Lagos State government for public use, at the Adeyemi Bero Auditorium, the Secretariat, Alausa, Ikeja, on Tuesday, 03 December 2024
l-r: Permanent Secretary, Lands Bureau, Mr. Kamal Olowosago; Opeluwa of Lagos, High Chief Yusuf Ajose Aderibigbe; Commissioner for Women Affairs & Poverty Alleviation, Mrs. Cecilia Dada; member, Lagos State House of Assembly, Hon. Gbolahan Yishawu; beneficiary, Mr. Olawale Jimoh; Governor of Lagos State, Mr. Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat; Executive Secretary, Lands Bureau, Mrs. Ololade Ajetunmobi and Head of Service, Mr. Olabode Agoro during the public presentation of cheques to 150 beneficiaries compensated for lands acquired by the Lagos State government for public use, at the Adeyemi Bero Auditorium, the Secretariat, Alausa, Ikeja, on Tuesday, 03 December 2024
l-r: Opeluwa of Lagos, High Chief Yusuf Ajose Aderibigbe; Commissioner for Women Affairs & Poverty Alleviation, Mrs. Cecilia Dada; member, Lagos State House of Assembly, Hon. Gbolahan Yishawu; beneficiary, Mr. Samuel Kalu; Governor of Lagos State, Mr. Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat and Executive Secretary, Lands Bureau, Mrs. Ololade Ajetunmobi during the public presentation of cheques to 150 beneficiaries compensated for lands acquired by the Lagos State government for public use, at the Adeyemi Bero Auditorium, the Secretariat, Alausa, Ikeja, on Tuesday, 03 December 2024
l-r: Commissioner for Women Affairs & Poverty Alleviation, Mrs. Cecilia Dada; member, Lagos State House of Assembly, Hon. Gbolahan Yishawu; beneficiary, Mr. Adebayo Adekoya; Governor of Lagos State, Mr. Babajide Sanwo-Olu; his Deputy, Dr. Obafemi Hamzat and Executive Secretary, Lands Bureau, Mrs. Ololade Ajetunmobi during the public presentation of cheques to 150 beneficiaries compensated for lands acquired by the Lagos State government for public use, at the Adeyemi Bero Auditorium, the Secretariat, Alausa, Ikeja, on Tuesday, 03 December 2024
[ PRESS RELEASE] Out-Going President Akufo-Addo Promises Peaceful, Credible Elections in Ghana
AdminGhana’s President Nana Akufo-Addo, who completes his mandatory two terms by 7 January 2025, has promised to leave office through peaceful and credible general elections on 7 December 2024.
“I came (to the office) as a result of a peaceful and credible election, and I want to go out through the same process,” to entrench the democratic tradition in Ghana, the Ghanaian leader told visiting ECOWAS Election Observation Mission led by former Nigerian Vice-President Mohammed Namadi Sambo during an audience at Jubilee House, Accra on Tuesday 3rd December.
President Akufo-Addo said that ECOWAS as a community has been facing “challenges and negative developments”, including violent extremism and military incursions in politics, especially the decision of three member States to quit the regional economic bloc.
“The responsibility is on us to respond to these challenges with the conduct of free, fair and credible elections,” he said, adding that the upcoming presidential and parliamentary elections in Ghana, a founding and active member of ECOWAS, would be of particular resonance.
He assured that Ghana has institutions with experience in conducting credible elections under its fourth Republic from 1992, noting that the country values the contributions of ECOWAS, chairing its Authority of Heads of State and Government in the past.
In his remarks, Dr Sambo commended Ghana’s democratic tradition, which included the unbroken ninth cycle of regular elections and peaceful transfer of political power.
He urged the president to galvanise the nation to pull together for peaceful, transparent and credible elections and the consolidation of democracy in Ghana and the region.
The ECOWAS delegation included the Deputy Head of Mission, Baboucarr Blaise Jagne, Gambia’s former Foreign Minister, Ambassador Abdel-Fatau Musah, ECOWAS Commissioner for Political Affairs, Peace and Security, who is leading an Electoral Technical Support Team and Ambassador Mohamed Lawan Gana, ECOWAS Resident Representative in Ghana.
Accompanying President Akufo-Addo at the meeting were Ghana’s Foreign Minister Shirley Botchwey, recently appointed Commonwealth Secretary-General, Interior Minister Henry Quartey, Kow Essuma, Secretary to the President and Michael Afori-Attah, Director Regional Integration, Office of the President.
At a separate meeting with Mrs Jean Mensa, Chairperson of Ghana’s Electoral Commission, Dr Sambo called on the electoral umpire and other stakeholders, including the security agencies, to demonstrate high-level professionalism and neutrality in carrying out their duties.
The EC Chairperson briefed the ECOWAS Mission on the activities of the Commission, saying preparations were on course for a peaceful and credible presidential and parliamentary elections on 7 December.
The Senate on Wednesday summoned the Minister of Aviation and Aerospace, Festus Keyamo; Director-General of the Nigerian Civil Aviation Authority, Capt. Chris Najomo; airline operators and other relevant stakeholders over the incessant flight delays and cancellations by airlines.
Adopting a motion to that effect, sponsored by Senator AbdulFatai Buhari (APC Oyo North) during plenary, the Red Chamber particularly charged its Committee on Aviation to unravel the circumstances behind the incessant flight delays and cancellations to find lasting solutions to the problem.
The PUNCH exclusively reported on Wednesday that about 2,000 air passengers lost 19,274 pieces of luggage between January and June this year, according to data from the Federal.
The report stated that data obtained from the half-year report of the Nigerian Civil Aviation Authority, an agency of the Federal Government that regulates civil aviation, further indicated that 19,250 passengers were delayed for long hours during the review period.
Senator Buhari, while presenting the motion, said the problem which he noted had been on the increase in recent times, is all over the media.
“This development is worrisome as air travel is one of the most reliable, dependable, and quicker means of transportation, often undertaken for business/official purposes and to keep other scheduled appointments, which are usually time-bo,” he said.
Therefore, he cautioned that “unwarranted flight delays and cancellations will be counterproductive to the socio-economic growth and development of this country.”
The lawmaker noted that as part of interventionist measures to check unethical and unwholesome practices of the practitioners in the àviation sector, the NCAA is statutory empowered through the enactment of the Nigerian Civil Aviation Act, to among other things, provide oversight and guidelines aimed at ensuring that airlines operate within the contemplation of international standards in Nigeria and to ensure that airline customers get value for the services paid for.
Buhari pointed out that “the quest for economic diversification and foreign direct investment, which are parts of the current administration’s policy thrust, will remain an illusion if the country’s aviation industry falls short of the acceptable best practices across the globe.”
“Part 19 of the Nigerian Civil Aviation Authority Regulations of 2023, makes provisions for consumer protection in the civil aviation industry in Nigeria.”
He added, “However, enforcement has been an issue as most Nigerians are not even aware that they are entitled to compensation for time lost due to unnecessary delay, hence the need for the NCAA to activate this aspect of its regulation so that airline operators will sit up and be alive to their responsibilities.”
The Senate, on Tuesday, approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) with new borrowings of N9.22 trillion also approved.
The new borrowings consist of domestic and foreign borrowings, were also approved.
The approval was sequel to presentation and adoption of the report of Joint Committee on Finance, National Planning and Economic Affairs at plenary in Abuja.
The report was presented by the Chairman of committee, Sen. Sani Musa (APC-Niger).
The highlights of the approved recommendations of 2025-2027 MTEF/FSP include: approval of projected oil benchmark prices of $75.3 per barrel for 2025, 2026 and 2027 fiscal years.
The senate also approved the three-year projection for domestic crude oil production, which had a significant increase from 1.78 million barrels per day in the preceding year to 2.6, 2.1 and 2.35 for 2025, 2026 and 2027.
It equally approved the projected exchange rate of N1,400 to one dollar for 2025, 2026 and 2027 fiscal years, subject to review in the early 2025, based on monetary and fiscal policies.
The upper legislative chamber approved the projected inflation rates of 15.75 per cent, 14.21 per cent and 10.04 per cent for 2025, 2026 and 2027.
It further approved the projected Gross Domestic Product (GPD) growth rate of 4.6 per cent, 4.4 per cent and 5.5 per cent for 2025, 2026 and 2027 fiscal years.
Given the criteria on review of framework for revenue and expenses, the approved 2025 budget proposed spending stood at N47.9 trillion, of which N34.82 trillion was retained.
New borrowings, which stood at N9.22 trillion, consisting of domestic and foreign borrowings, were also approved.
While debt service was valued at N15.38trillion, pensions, gratuities and retirees’ benefits stood at N1.443trillion, and fiscal deficit at N13.08 trillion.
The senate approved the projected capital expenditure of N16.48 trillion, exclusive of statutory transfers which stood at N4.26trillion, while sinking fund was projected at N430.27 billion.
Another approval was the projected total recurrent non-debt of N14.21trillion and special intervention for recurrent and capital of N200 billion and N7 billion.
It further approved issuance of promissory note programme and bond issuance to settle outstanding claims and liabilities of the Federal Government to state governments.
The senate also approved a quarterly investigative hearing with revenue generating agencies to track their compliance with Fiscal Responsibility Act and reprimand clear contravention of the act.
The upper legislative chamber equally approved that Committee on Finance and Customs initiate an investigative inquiry into operations of import duty exemption certificate programme, with focus on import waivers, its impact on revenue losses by the Federal Ministry of Finance and Nigerian Customs Service.
The Senate President, Godswill Akpabio, in his remarks after the passage of the expenditure framework, commended members of the joint committee and other lawmakers for their legislative inputs, leading to the approval of the 2025, 2026 and 2027 MTEF and FSP.
(NAN)
French President Emmanuel Macron on Tuesday rejected calls to resign to break a political impasse in the country, saying such a scenario amounted to “political fiction”.
“It doesn’t make sense… it’s frankly not up to scratch to say these things,” Macron, whose government faces a no confidence vote in parliament on Wednesday, told reporters on the sidelines of a visit to Saudi Arabia.
“It so happens that if I am before you, it is because I was elected twice by the French people. I am extremely proud of this and I will honour this trust with all the energy that is mine until the last second to be useful to the country,” added Macron, who is due to serve until 2027.
Several prominent opposition figures and even some voices closer to the presidential faction have suggestion resignation could be Macron’s only viable option.
Macron also accused the far-right National Rally (RN) of Marine Le Pen of “unbearable cynicism” in backing the motion which threatens to topple the government of Prime Minister Michel Barnier.
“We must not scare people with these things, we have a strong economy,” he added.
While most commentators predict that the left and fa-right will team up to bring down the government, Macron appeared to hold out some hope saying he could “not believe” that the no confidence motion would we passed against the government.
Namibia’s ruling SWAPO party was declared winner Tuesday of last week’s disputed elections, ushering in the southern African country’s first woman president after a disputed vote that the main opposition has already said it does not recognise.
Vice-President Netumbo Nandi-Ndaitwah took just over 57 percent of ballots followed by the candidate for the main opposition Independent Patriots for Change (IPC) with 25.5 percent, the election authority announced.
Nandi-Ndaitwah, 72, becomes the first woman to rule the mineral-rich southern African country that has been governed by the South West Africa People’s Organisation (SWAPO) since independence in 1990.
The November 27 election was extended twice as logistical and technical problems, including a shortage of ballot papers, led to long queues.
Some voters gave up on the first day of voting after waiting for up to 12 hours.
The IPC has already said this was a deliberate attempt to frustrate voters and it would not accept the results of the elections.
Its presidential candidate Panduleni Itula, 67, said last week there were a “multitude of irregularities”.
No matter the result, “the IPC shall not recognise the outcome of that election”, he said on Saturday, the last day of the extended vote.
Opposition rejects poll
Itula said the IPC would “fight… to nullify the elections through the processes that are established within our electoral process”.
An organisation of southern African human rights lawyers serving as election monitors said the delays at the ballot box were intentional and widespread.
The Electoral Commission of Namibia (ECN) admitted to failures in the organisation of the vote, including a shortage of ballot papers and the overheating of electronic tablets used to register voters.
Of the nearly 1.5 million registered voters in the sparsely populated country, nearly 77 percent had cast ballots in the presidential vote, it said Tuesday.
The election was seen as a key test for SWAPO after other liberation-era movements in the region have lost favour with young voters.
In the past six months, South Africa’s African National Congress lost its parliamentary majority and the Botswana Democratic Party was ousted after almost six decades in power.
Namibia is a major uranium and diamond exporter but analysts say not many of its nearly three million people have benefited from that wealth in terms of improved infrastructure and job opportunities.
Unemployment among 15- to 34-year-olds is estimated at 46 percent, according to the latest official figures from 2018, which is almost triple the national average.
Nandi-Ndaitwah, a SWAPO stalwart known by her initials NNN, will be among the few women leaders on the continent.
The conservative daughter of an Anglican pastor, she became vice president in February this year.
Recognisable by her gold-framed glasses, she has tried to vaunt the wisdom of her years during the campaign where she was often wearing blue, red and green, the colours of her party and of the national flag.
Among her election promises, NNN said she intends to “create jobs by attracting investments using economic diplomacy.”
Following the controversy trailing the Tax Reforms Bills, President Bola Tinubu has directed the Ministry of Justice to work closely with the National Assembly to address the concerns raised by Nigerians.
The President, who is in South Africa, handed down the review order on Tuesday as some northern youths stormed the National Assembly in support of the bills.
The bills – the Nigeria Tax Bill 2024, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill – have generated hot debates and contention across the country with northern governors and lawmakers opposed to their passage.
Critics argue that the reforms could disrupt the balance of fiscal federalism, potentially centralising tax authority and diminishing state revenues.
However, in a move to assuage the high emotion over the reform bills, Tinubu directed the Federal Ministry of Justice and relevant officials who worked on the draft to collaborate with the National Assembly to address all genuine concerns before the bills were passed.
This was contained in a statement signed by the Minister of Information and National Orientation, Mohammed Idris, titled, ‘President Tinubu committed to accountability on tax bills, directs Ministry of Justice to work with NASS on concerns.’
Tinubu’s directive
The minister said, “In line with the established legislative procedure, the Federal General welcomes meaningful inputs that can address whatever grey areas there may be in the bill.
“In this vein, President Tinubu has already directed the Federal Ministry of Justice and relevant officials who worked on the drafts to work closely with the National Assembly to ensure that all genuine concerns have been addressed before the bills are passed.”
Notably, at a meeting on October 28, governors of the 19 Northern States, under the platform of the Northern Governors’ Forum, rejected the new derivation-based model for Value-Added Tax distribution in the tax reform bills.
They argued that the changes might adversely affect their regions’ financial autonomy.
Three days later, the National Economic Council, comprising all 36 state governors, asked the President to withdraw the Tax Reforms Bill from the National Assembly for comprehensive consultations.
However, the President said there would be no need to withdraw the bill from the National Assembly.
Governor Babagana Zulum of Borno State warned that while the President could deploy his executive powers to pass the tax bills, there would be consequences for millions of Nigerians.
Zulum added that the proposed VAT-sharing model will only benefit Lagos and Rivers states.
But Governor of Nasarawa State, Abdullahi Sule, former Speaker of the House of Representatives, Yakubu Dogara, and many other northern leaders endorsed the bills.
Nonetheless, the Senate passed the bills for a second reading, a move that has been met with harsh criticisms.
In its statement on Monday, the Presidency said most reactions from political leaders and commentators “are not grounded in facts, reality, or sufficient knowledge of the bills.”
It said the tax bills will not enrich Lagos or Rivers at the expense of northern states.
Corroborating the Presidency’s stance, the information minister said, “The fiscal reforms will not impoverish any state or region of the country, neither will they lead to the scrapping or weakening of any federal agencies.”
The Federal Government welcomed the nationwide debate on the bills saying, “This is the very essence and meaning of democracy.”
Protest in NASS
Meanwhile, Some youths from the North, on Tuesday, staged a protest at the National Assembly in support of the tax reform bills.
Bearing placards mostly with the inscription, ‘Leave Senator Barau alone,’ the protesting youths described critics of the Deputy Senate President, Barau Jibrin, over his support for the reform bills as “enemies of the North, enemies of progress, enemies of the nation.”
Speaking on behalf of the protesters, Tijani Mohammed, said they were satisfied with the explanations offered by the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, on the benefits of the bill to the nation at large.
Mohammed urged President Bola Tinubu, the Senate President, Godswill Akpabio; Senator Barau Jibrin and others not to relent until the passage into law of the tax bills.
He said, “The tax reform bills are in order and Nigerians should work towards her perfection and progress. For so long, we have lived on a decadence of tax reforms that have not produced anything good or meaningful to this nation.
“We are from the North; we are categorically in support of this tax reform bill. To those who have for the past few days castigated Senator Jibrin Barau, they are nothing but enemies of the North, enemies of Nigeria, enemies of our generation, enemies of progress, and supporters of retrogression.
“We call on Nigerians, as we have vowed that we shall continue to voice from one state to the other, one region to the other, we shall canvass, and this bill, by the grace of God, shall see the light of the day.
“The man who is in charge of the tax review came out to list the intents of the bill. What people were listing before are personal things like whether Alpha and Beta Consultants will be the consultants of the entire project.”
He added, “What we are looking at is, what comes to the states. And the man has said, if formerly you have five per cent, with this reform bill, you should be able to have between 15 and 20 per cent. That is progress. We cannot continue to stand stagnant for decades.
“We pray that the President will not relent, the President of the Senate supported by the Deputy Senate President, Senator Jibrin Barau must ensure that this bill is looked into properly and see that it is passed.
“It is a germane issue; it is overdue; it is something that Nigerians should look forward to to make progress. We cannot continue to stand stagnant. This is our generation. The generation of those who have led this country, in the past, have failed us. This present generation is in support of the reforms.” he said.
Prominent Islamic scholar, Sheikh Ahmad Gumi, also on Tuesday expressed his support for President Tinubu’s tax reform bills, describing it as a step towards improving Nigeria’s economic landscape.
Sheikh Gumi’s approval of the reforms marks a notable shift from the ongoing debate.
“I believe the contentious VAT issue is the only part that needs to be reviewed; otherwise, it is a good package for all,” Gumi stated.
His remarks highlighted a key point of contention in the reforms, which some northern leaders argue might favour wealthier states like Lagos and Rivers at the expense of poorer regions.
Rowdy House session
In a demonstration of the sensitive nature of the bill, there was a rowdy session during the House of Representatives plenary on Tuesday following the declaration of support for the tax reform bills by the spokesman of the Green Chamber, Akin Rotimi.
Rotimi, a member of the All Progressives Congress incurred the wrath of his colleagues when he stood up to present two reports on behalf of the Committee on Nigerian Content Development and Monitoring.
After getting Speaker Tajudeen Abbas’ nod to present the reports, Rotimi announced the stand of Ekiti federal lawmakers on the controversial four tax bills transmitted to the parliament on September 3.
He began, “Thank you very much, Mr Speaker. My name is Akin Rotimi Jr. I represent the people of Ekiti North 1 comprising Ikole and Oye Local Governments. Mr Speaker, I am from Ekiti State, the first State whose National Assembly caucus has unanimously endorsed the tax bills. I rise on behalf of Hon Boma Goodhead (Committee chairman who was absent)…”
But the House members did not allow him to complete his sentence as they chanted “No, no.”
Repeated appeals by the speaker to restore order failed as the members vowed that the report would not be laid.
The Speaker waded in, saying, “He (Rotimi) is expressing his personal opinion,” just as the Ekiti lawmaker reminded his colleagues that he had the protection of the presiding officer.
Also, Abbas’ plea that Rotimi shouldn’t be taken seriously because “he was just talking on a lighter note,” failed to calm frayed nerves.
Rotimi then added, “My introduction does not affect the substantive matter,” just as the Speaker urged him to restrict himself “To the person you are representing here. We are not talking about tax bills.”
The lawmaker finally gave in, saying, “Honourable colleagues, I withdraw the introduction. Mr Speaker, I withdraw the introduction. I will introduce myself properly. Mr Speaker, can I have the opportunity to speak?”
Abbas thereafter took over, saying, “Mr Rotimi, you know this (tax bill) is a controversial issue. I don’t want you to be mentioning things that are not relevant to the subject matter. On your behalf, I withdraw that statement that you have made.”
With a semblance of order in place, Rotimi again stood up and said, “Honourable colleagues, I would like to withdraw that introduction and restrict myself to the Order Paper.”
The Speaker asked for a seconder but the members failed to listen as the protest continued.
“I beg you. This has nothing to do with the tax bills,” Abbas pleaded repeatedly, all to no avail.
Rotimi took to the floor once again.
“I seek the leave of the Speaker and honourable members to step down the report,” he said.
Like Rotimi, the deputy spokesman of the House, Philip Agbese, also had his dose of trouble when Kano lawmaker, Tijjani Ghali, standing on a matter of personal explanation (Order 6 rule 5), called on him to resign from his position.
“I woke up this morning to see an online publication from the deputy spokesman, saying that those opposed to tax reform bills are seeking speedy passage. I am one of the first persons that opposed these bills vehemently but the deputy spokesperson did not contact me as a stakeholder and did not seek my opinion on this.
“The headline is insinuating that for those who opposed these tax bills, there is an inducement somewhere. Therefore, I am calling for the withdrawal of this statement and an investigation and apology in print media because this is injurious to me, my people, my religion and the region where I come from.
“Mr Speaker, this is a breach of privilege and is unprofessional, unethical and immoral. Therefore, I am personally calling for this matter to be investigated to find out those people opposed to the bills that are now asking for their speedy passage,” he stated.
The member representing Jibia/Kaita Federal Constituency, Katsina State, Sada Soli, moved that the matter be referred to the Ethics and Privileges Committee for investigation.
Ruling on the matter, Deputy Speaker, Benjamin Kalu, promised action, stating “Once a point of privilege is moved, it is not debated. You have asked for this to be investigated. But you did not tell whether to move it to ethics and privileges and that is why Sada Soli came with his own. It is not in your prayer. There are many ways to investigate this.”
Kukah backs bill
Meanwhile, the Catholic Bishop of Sokoto Diocese, Bishop Hassan Kukah, has said that the proposed tax reform bills would end the recklessness of the elite in the country.
The clergyman commented on Channels Television Morning Brief on Tuesday.
Kukah expressed hope that the bills would mark the beginning of better fiscal management and end financial recklessness, noting that any form of reform must get the country working.
“Nigeria is a very energetic country with people that are so eminently gifted and are roaring to soar at any time. However, our problem is the inability of states to create enough gatherings to contain the energy, vision, and competing narratives of their citizens. This lack of competitive gatherings often spills over into violence.
“So, I am excited because hopefully, we can take the time to listen to the conversation about how to avoid and end this financial recklessness, and the irony of Nigerians living by the seaside and washing their faces with saliva.
“The reforms should end the narrative of Nigerians living in a country that is so richly endowed but are spectators to the rascality and irresponsibility of the elites who continue to mismanage our resources.
“So, I’m hopeful that this is the beginning of a very long journey of fiscal management and efficiency that can lead to the growth and development of the kind of country that we envision,” he said.
In support of the bills, the Ekiti State Caucus in the National Assembly called on stakeholders, including state governments, private sector leaders, civil society and citizens to also endorse the tax reform bills.
The caucus said the tax reforms “are a testament to the bold and transformative agenda of President Bola Tinubu, which has prioritised economic growth, inclusivity, and national prosperity.”
The nine All Progressives Congress lawmakers from Ekiti State in the National Assembly – Senators Opeyemi Bamidele, Yemi Adaramodu and Cyril Fasuyi; and House of Representatives members Olufemi Bamisile, Olusola Fatoba, Bioduun Omoleye, Rufus Ojuawo, Akinlayo Kolawole and Akin Rotimi, spoke in a jointly signed statement made available in Ado Ekiti on Tuesday.
The caucus stated, “These bills aim to strengthen Nigeria’s revenue generation system, ensuring sustainable funding for critical sectors such as education, healthcare, infrastructure, and social welfare.
“Additionally, these reforms will simplify the tax system, foster local entrepreneurship, attract investment and create employment opportunities, driving economic growth across the state and the nation.
“The establishment of the Tax Appeal Tribunal and the Office of the Tax Ombudsman will further entrench transparency, accountability and fairness in tax administration, protecting taxpayers’ rights and fostering trust in the system.
“As representatives of Ekiti State, we remain resolute in our support for initiatives that prioritise economic growth and enhance the welfare of our people. These reforms underscore our collective commitment to a better future and we urge all Nigerians to embrace this bold step toward national development.”
The Labour Party Senator representing Edo South in the Senate, Neda Imasuen, described the tax reform bills as timely and long overdue.
Imasuen, who serves as the Chairman, Senate Committee on Ethics, Privileges, and Public Petitions, called for patience and a better understanding of the proposed reforms.
He criticised state governors, describing them as complacent and urged them to explore alternative means of generating revenue.
In its contribution to the debate, the Arewa Dignity Advancement Initiative, called on the National Assembly to reject the bills, citing the widespread criticisms and opposition to them.
The group stated this in a document jointly signed by its members comprising individuals from academia, professionals, civil society organisations, students, traditional and religious leaders, and other stakeholders.
The group, chaired by Baheejah Mahmood Abdullahi from Bauchi State, stated, “Introducing additional taxation, particularly on personal income and value-added tax, is ill-timed and could exacerbate economic hardship.
“The bill was drafted without adequate input from professionals and the general public. As a key democratic institution, the National Assembly must ensure that inclusive decision-making processes are upheld.”
It pointed out that the proposed redistribution formula, “which allocates 60 per cent VAT ownership to states based on consumption location, contradicts existing laws that emphasised revenue distribution based on equality and population rather than consumption location.”
Court papers filed by the Economic and Financial Crimes Commission have linked the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele, to the massive Abuja property with 753 duplexes and other apartments located in the Cadastral Zone area of the capital city.
The anti-graft agency on Monday announced the recovery of the property from an unnamed ex-government top brass, describing the property as the biggest single recovery it had made in the course of fighting corruption since its establishment in 2003.
The recovery followed a ruling delivered on December 2, 2024 by Justice Jude Onwuegbuzie of the FCT High Court in Apo.
In the court documents obtained by our correspondent on Tuesday, the EFCC ran a narration linking Emefiele to the massive property spanning 150,500 square metre and identified as Plot 109, Cadazral Zone C09, Lokogoma District, Abuja.
Emefiele is currently being prosecuted by the EFCC in three separate cases before different judges.
Before Justice Hamza Mu’azu, he is being tried for procurement fraud, forgery of former President Muhammadu Buhari’s signature, and other charges.
Before Justice Rahman Oshodi at the Special Offences Court in Ikeja, Lagos, Emefiele is charged with alleged fraud involving $4.5bn and N2.8bn.
Additionally, Emefiele is before Justice Maryann Anenih of the FCT High Court in Abuja for allegedly approving the printing of N684.5m notes at the cost of N18.96bn.
According to the document, Emefiele allegedly carried out “monumental fraud” as the CBN governor with his cronies to acquire several properties including the estate.
“The commission whilst investigating the alleged monumental fraud carried out by the immediate past Governor of the CBN and his cronies traced and discovered several properties reasonably suspected to have been acquired and or developed with proceeds of unlawful activities.
“The property highlighted in Schedule A to this application is one of the said properties recovered, having been reasonably suspected to have been acquired/ developed with proceeds of unlawful activities.”
The EFCC alleged that “in the cause of this investigation, it was revealed that the erstwhile CBN governor negotiated kickbacks in return for allocation of foreign exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses.
“Our investigation equally revealed that erstwhile CBN Governor received kickbacks from some contractors who were awarded contracts by the Central Bank of Nigeria.”
The anti-graft agency also alleged that Emefiele connived with several cronies, including one Ifeanyi Omeke, who “ran several errands for him, which included purchase and perfection of title documents for several properties located in highbrow areas of Lagos and Abuja.”
It said the documents for the Abuja property were recovered during a search of Omeke’s office and that investigators located the property on September 17, 2024 “with the assistance of a surveyor from the Abuja Geographical Information Systems, using search results and coordinate.”
The EFCC said its investigation “revealed that the said property has been abandoned and deserted with only a guard manning the said property since June 2023 upon the arrest of the erstwhile CBN Governor. “
The PUNCH reported that the Department of State Services arrested Emefiele in Lagos the following day he was suspended by President Bola Tinubu.
In October, the EFCC arrested Emefiele in less than an hour he regained his freedom from the DSS.
According to the EFCC, the massive property, allegedly acquired by Emefiele, through cronies, was originally meant for a mass housing development.
The EFCC said its investigation revealed that Emefiele used three companies to pay a total of N2.2bn to buy the property.
It said the seller “received the aggregate sum of N2,200,000,000.00,” adding that “the said three companies used for the payment of the property are enmeshed in criminal maneuvering of layering proceeds of illegal activities of Mr. Godwin Emiefele.”
According to the EFCC, one of the companies was used to pay N900m, the second paid N700m, while the third paid N600m, totalling N2.2bn.
It said the directors of the companies were arrested “and their statements voluntarily obtained in the course of investigation.”
“The funds used in the acquisition of the property highlighted in Schedule A to this application are not legitimate earnings of Godwin Emefiele but funds acquired through illegal and unlawful activities.
“That I know as a fact and verily believe that the source/origin of the funds used in the acquisition and/or development of the properties sought to be forfeited are proceeds of unlawful activities to wit: corrupt enrichment, receiving of gratification or kickbacks and abuse of office,” an EFCC investigator stated in the affidavit filed in court.
The EFCC noted that the court had on November 1, 2024 made an order for the temporary forfeiture of the property “after evaluating facts placed before it.”
It, therefore, urged the judge to order the permanent forfeiture of the property to the Federal Government as no one had come forward to challenge the facts placed before the court, in spite of adverting the interim forfeiture order in The PUNCH edition of November 6, 2024.
According to the EFCC, the court acceded to its request and has now permanently forfeited the property to the Federal Government.
Efforts to get the reaction of Emefiele’s legal team were unsuccessfuly. One of the lawyers, Matthew Burkaa( SAN), did not pick up calls to his line and had also yet to respond to a text message seeking Emefiele’s side of the story as of the time of filing this report.
‘Why EFCC concealed property owner’s identity’
Meanwhile, EFCC spokesman, Dele Oyewale, defended the decision by the anti-graft agency not to reveal the identity of the owner of the property to the public.
He was responding to public criticisms on the motive behind concealing the identity.
“The allegation of a cover-up of the identity of the promoters of the estate stands logic on the head in the sense that the proceedings for the forfeiture of the Estate were in line with Section 17 of the Advance Fee Fraud Act, which is a civil proceeding that allows for action-in-rem rather than action-in-personam.
“The latter allows legal actions against a property and not an individual, especially in a situation of an unclaimed property. This Act allows you to take up a forfeiture proceeding against a chattel who is not a juristic person. This is exactly what the commission did in respect of the Estate. Individual in situations of unclaimed assets,” Oyewale said.
He added that since investigation had not been concluded, releasing the suspects’identity would be the unprofessional.
“The substantive criminal investigation on the matter continues. It will be unprofessional of the EFCC to go to town by mentioning names of individuals whose identities were not directly linked to any title document of the properties,” Oyewale stated.
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South Africa has relaxed its visa application procedure for Nigerians in what the country said will strength diplomatic ties and bolster trade between the two nations.
The new visa policy will allow Nigerians to apply for a visa without submitting passport and will also be eligible for five-year multiple entry visas.
Cyril Ramaphosa, President of South Africa, announced the development on Tuesday at the opening of the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) in Cape Town, which President Bola Tinubu attended.
Ramaphosa disclosed that South Africa simplified its visa processes to create a conducive environment for Nigerian business people and facilitate travel to the country for tourists.
“Qualifying Nigerian business people can be granted a five-year multiple entry visa,” he said.
He also pledged South Africa’s commitment to removing constraints on greater investment and addressing the challenges faced by companies in both countries.
“As we mark 30 years since the establishment of diplomatic relations, we see a bright future for our relationship. Our strong bonds of friendship provide a firm foundation for more meaningful economic cooperation.
“Nigeria is host to a number of South African companies. South Africa has always been open to Nigerian business, reflected in the number of investments and operations established in this country.
“But there is much more we need to do. We need to remove the remaining constraints to greater investment, just as we need to address some of the challenges that companies have experienced.
Ramaphosa also acknowledged the Nigerian government’s reforms to further strengthen and foster a business environment that offers assurances to investors, including from South Africa.
He said his administration will continue with its efforts to improve the ease of doing business in South Africa. We want to enable investors to operate, trade and pursue opportunities in various sectors.
“We look forward to seeing more Nigerian companies investing in South Africa,” he said.
The South African leader said Africa’s development and the challenges facing countries of the Global South would be firmly placed on the G20 agenda.
“It will be the first time the G20 Leaders’ Summit will be held on African soil. We will seek to galvanise support for the AU’s Agenda 2063 as we pursue an inclusive global agenda.
“For South Africa, it is our view that in shaping global discourse, programs should be tailored to ensure that in our societies, no one is left behind,” he said
The Enugu State Government and Austrian investors under the auspices of WANDE NEXUS, have formalised an agreement to implement the Sustainable Last Mile Connectivity and Advanced Metering Infrastructure (AMI) Project in Enugu.
With the signing, which took place on Monday at Government House, Enugu, in the presence of the Austrian Ambassador to Nigeria, Thomas Schlesinger, WANDE Nexus is to inject $100 million as Foreign Direct Investment, FDI, to modernise water infrastructure, improve service delivery, and ensure equitable access to clean water for all households in Enugu City.
WANDE NEXUS, is established as Special Purpose Vehicle (SPV) in Nigeria for the $100 million investment to coordinate and execute the project in collaboration with key partners, such ss OSTAP International Water Consulting, an Austrian company, which holds more than 50 years of experience in the water sector.
Speaking, Governor Peter Mbah described the signing as an example of the relationship that could exist between a sub-sovereign and a sovereign, and a major step to getting water to the last mile in Enugu City.
“We now have an investment of $100 million to deal decisively with the last mile connection, the downstream part of our water system. This huge sum shows that the economic reforms of the Federal Government and our effort to position Enugu as the premier destination for investment are yielding results because this is a major FDI, not just for us as a state, but even as a country.
“For the record, this is not a case where we are just signing an agreement that is exploratory. This is an agreement we signed today for the funds to begin to flow. This is a discussion that started eight months ago. From signing an MoU, to Terms Sheet, to getting a Concession Agreement, today we are signing the final agreement and we expect that the investment funds will start to flow immediately, as they should have started with the connectivity to the last mile, and the procurement of the metres will commence,” he said.
The governor explained that while the administration had been able to increase water production from an occasional 2 million litres to 120 million litres, the biggest challenge was in expanding the network and connecting the tertiary pipelines to the various homes. He, however, noted that with the signing of the FDI agreement, the problem would become a thing of the past.
“This is purely an investment of $100m being injected in our downstream water sector and we have the responsibility, as a state government, to continue to manage the upstream sector. If you look at our budget for 2025, there is fund slated for water, and that is essentially to increasse our water production capacity. The volume will grow from 120 million litres of water per day to 200 million litres per day.
In his address, Ambassador Schlesinger said the investment had the strong backing of the Austrian Government, and commended Governor Mbah for building the necessary international relationships and showing a strong commitment to making life better for his people.
“I wish to laud His Excellency Dr. Peter Mbah for his vision to transform the water management systems for Enugu City, with its ultimate goal to ensuring equitable access to clean water.
“Governor Mbah is a great friend of Austria. He has visited Vienna twice, where he met with ministers, international organisations and the business community; and he is a very active supporter of Austrian companies in Enugu.
“This investment in the amount of $100 million is, therefore, a testimony of his excellent work and his vision for Enugu State,” he said.
He equally expressed strong confidence in the capacity of the Chairman of WANDE Nexus Group, Dr. Ugochukwu Ugbor, to lead the transformation of the downstream water sector.
“In order to implement such a plan as the governor has, you need strong leadership at the top of the project, represented by Dr. Ugochukwu Ugbor, the Chairman of WANDE NEXUS. He spent more than 20 years in Austria, where he played key roles in international organisations, addressing critical infrastructure and sustainability challenges, as enshrined in another Sustainable Development Goal of the United Nations,” he stated.
Earlier in his address, Dr. Ugbor said that he and the rest of Austrian investors were encouraged into the venture by the speedily improving ease of doing business, conducive investment environment, and trustworthiness exhibited by the Mbah administration, adding that the company would deliver on expectations, create 500 direct jobs for a start, build human capital in modern water management, and also directly improve health and economic opportunities in Enugu State.
WANDE NEXUS and Project Partners
Meanwhile, WANDE NEXUS was established as a Special Purpose Vehicle (SPV) registered in Nigeria specifically for this $100 million water project. Its role is to coordinate and execute the project within the region, leveraging both local presence and international expertise.
This project is a collaborative effort involving key partnerships with OSTAP International Water Consulting, an Austrian company with over 50 years of experience in the water sector. Their track record and expertise are well-documented, as shown on their official website: https://www.oestap.at.
Nwankwo Scott Associates (NSA), on its part is a highly respected Nigerian consulting firm with extensive local expertise and over five decades of experience in architecture, engineering and project management.
Together, these partners bring unmatched technical capabilities and credibility to ensure the successful execution of this project.
WANDE NEXUS, said it was proud to facilitate this collaboration for the benefit of the people of Enugu State.
Nigeria secures $2.2bn Eurobonds to finance 2024 budget deficitThe Debt Management Office (DMO) says Nigeria has successfully priced $2.2bn in Eurobonds that will mature in 2031 (6.5 years) and 2034 (10 years) in the international capital markets.
In a statement on Monday, the DMO said the bond has $700m and $1.5bn placed in the 2031 and 2034 maturities, respectively.It said the proceeds from bond issuance would be used to finance the 2024 fiscal deficit and support the government’s budgetary needs.It said the notes were priced at a Coupon and Re-offer Yield of 9.625 per cent and 10.375 percent, respectively.
“Nigeria is pleased to have attracted a wide range of investors from multiple jurisdictions including the United Kingdom, North America, Europe, Asia, Middle East and participation from Nigerian investors, which it views as an expression of continued investor confidence in the country’s sound macro-economic policy framework and prudent fiscal and monetary management,” it said.
The statement further said the transaction attracted a peak order book of more than $9bn. This underscores the strong support for the transaction across geography and investor class.
“With respect to investor class, demand came from a combination of Fund Managers, Insurance and Pension Funds, Hedge Funds, Banks and other Financial Institutions,” it added.Commenting on the successful pricing, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, said: “Today’s successful issuance signposts increasing confidence in ongoing efforts of the President Bola Ahmed Tinubu, GCFR, administration to stabilize the Nigerian economy and position it on the path of sustainable and inclusive growth for the benefit of all Nigerians. The broad range of investor appetite to invest in our Eurobonds is encouraging as we continue to diversify our funding sources and deepen our engagement with the international capital markets.”
According to the Governor of the Central Bank of Nigeria, Olayemi Cardoso, its outcome underscores the growing confidence of investors and the resilience of the Nigeria credit, and evidence of our improved liquidity position and continued access to international markets to support the financing needs of the government.UK Listing Authority and available to trade on the London Stock Exchange’s regulated market, the FMDQ Securities Exchange Limited and the Nigerian Exchange Limited.
“The proceeds from this Eurobond issuance will be used to finance the 2024 fiscal deficit and support the government’s budgetary needs. Nigeria mandated Chapel Hill Denham, Citigroup, Goldman Sachs, J.P. Morgan and Standard Chartered Bank as Joint Bookrunners. FSDH Merchant Bank Limited acted as Financial Adviser on the issuance,” she added
The Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, on Monday explained that the objective of the tax reform bills currently before the National Assembly is to fix Nigeria’s economy for shared prosperity and not to generate more money as being speculated.
Oyedele made the clarification when he was featured as one of the panellists on Channels Television’s Townhall on Tax Reforms.
In the past few weeks, the bills have pitched some state governors against the Federal Government, with the governors calling for the withdrawal of the bills to create room for more consultation.
On Sunday, Borno State Governor, Prof Babagana Zulum, also called on his colleagues and Northern stakeholders to reject the bills, insisting that they would damage the region’s economy if implemented.But Oyedele said there are many misconceptions being peddled about the bills when it was obvious many of the critics had not taken their time to properly vet them.
He said, “Our economy is underperforming. We are not growing enough, poverty is widespread and we do not have inclusive and sustainable growth, and there can’t be shared prosperity unless we address those issues. While we face a myriad of issues, the fiscal system, including taxation clearly, is one major area.If I want to summarise it, I would say that the fiscal and tax system is like the knee on the neck of our economic prosperity as a people. It is important to state that the primary objective of the reforms is not to generate more revenue. I see people get that wrong every time. It is to fix the economy in a way that there can be shared prosperity.
If your businesses are growing, expanding within and outside the shores of this country, if our individuals are earning income and thriving, then taxes will be a natural consequence of their prosperity. That is really the fundamental objective of the reforms. So, we know that the work we’re asked to do for our country is such an enormous amount of work, but critical.”
Continuing, Oyedele also explained why many felt the Presidency was in cahoots with the National Assembly on the bill.
According to him, they planned to get the reform bills sorted out within a year as Nigeria does not have to wait for four to five years to get it done, saying, “If we’re going to take all our time, we would have asked for about four or five years. We knew Nigeria had no luxury of time. We decided we should put in all our efforts to get this done within one year. We have tax laws that are very old and no longer fit for mobiles, including those we inherited from our colonial masters.
“So, we said we’ll use the opportunity of this reform to rewrite those laws so that the laws made by Nigerians for Nigeria to be able to drive our prosperity going forward. And that’s what led to the four bills that we have before the National Assembly today that have been properly summarised.
“So, for households and individuals, including our young population, these bills are looking to exempt low-income earners completely from tax, those who earn about N83,000 per month or N1 million a year.”.