News

Speaker Abbas Reiterates Commitment Of 10th House To Support Tinubu’s Economic Reforms

Published

2 years ago

April 30, 2024

/home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2024/04/IMG-20240430-WA0001-1000x600.jpg&description=Speaker Abbas Reiterates Commitment Of 10th House To Support Tinubu’s Economic Reforms', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">

/home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2024/04/IMG-20240430-WA0001-1000x600.jpg&description=Speaker Abbas Reiterates Commitment Of 10th House To Support Tinubu’s Economic Reforms', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">

ADVERTISEMENT

…says Nigeria’s VAT collection, lowest in Africa

By Gloria Ikibah

The Speaker of the House of Representatives Rep. Abbas Tajudeen, has said that Nigeria’s efficiency in the collection of Value Added Tax (VAT) is the lowest among its African peers, indicating significant inefficiencies in its tax system.

He expressed the preparedness of the 10th House to support the economic policies and programmes of President Bola Tinubu led-administration.

This, Speaker Abbas who stated this on Tuesday in Abuja while delivering his keynote address at the opening of a two-day retreat for members of the House, also noted that the support includes engagement with stakeholders on laws governing finance, tax, and oil sub-sectors of the economy, with the aim of causing positive reforms.

The legislative retreat on Economic Transformation and Development was organised by the House in collaboration with the Federal Inland Revenue Service (FIRS) and the Konrad Adenauer-Stiftung Foundation (KAS), with the theme: ‘Navigating Change: Legislative Strategies for Economic Transformation.’

Speaker Abbas noted that the House made a deliberate decision to focus on tax reforms and modernisation as well as a review of the implementation of the Petroleum Industry Reform Act (2021). “The overarching objective is to discuss and identify concrete legislative strategies for economic transformation,” he said.

He expressed his pleasure that the legislative retreat was taking place “at a point in our nation’s economic landscape when the current administration is diligently implementing policies and initiatives to steer our economy towards recovery, growth, and sustainable development.”

He stated that the commitment and foresight shown by the government in addressing economic challenges “deserve commendation, and it is imperative that we, as legislators, align our efforts to support and enhance these endeavours.”

He said: “As a critical arm of government, the legislature has a crucial role in shaping our nation’s economic transformation and development. Part of our law-making powers is the authority to enact tax reforms and strengthen resource governance mechanisms. By designing and implementing progressive tax policies, we strive to ensure a fair and efficient tax system that boosts revenue while fostering economic growth and equity. This involves not only broadening the tax base and simplifying tax codes but also enhancing compliance and minimising loopholes that benefit only the wealthy.

“Furthermore, the legislature’s oversight function is central in the governance of natural and financial resources. It ensures transparency and accountability in the exploitation and management of resources, which is essential for sustainable development. By holding government and private sectors accountable, the legislature helps prevent the mismanagement and corruption that can often undermine economic progress.”

He added that the retreat aimed to foster stakeholders’ engagement, ensure constructive dialogue, exchange ideas and offer insights on legislative strategies that will contribute to the economic transformation of our country.

“Accordingly, this forum allows us to take a deep dive into the tax reforms instituted by President Tinubu and undertake a review of the implementation of the Petroleum Industry Act (2021). We consider these two initiatives vital in our nation’s quest for economic recovery, transformation and growth. The two areas speak to both the oil and non-oil sectors of the Nigerian economy,” he said.

While stating that Nigeria’s tax revenue struggles are primarily due to narrow bases for indirect taxes, low compliance rates among taxpayers, substantial tax exemptions, and generally low tax rates, the Speaker added that the situation was compounded by “a lack of enthusiasm and morale for tax compliance, contributing to the nation’s underwhelming fiscal performance.”

He stressed: “Comparatively, Nigeria’s efficiency in collecting Value Added Tax (VAT) is the lowest among its African peers, indicating significant inefficiencies in its tax system.

“This trend of low tax revenue, coupled with a continued dependency on the increasingly unstable oil revenue, presents a major risk to Nigeria’s fiscal sustainability. It also highlights an important area for potential reform to boost revenue and stabilise the country’s economic framework.

“The lack of growth in non-oil revenue sources and the volatile nature of oil income underscore the urgent need for Nigeria to diversify its revenue base and enhance its fiscal management to ensure economic stability and growth.”

Speaker Abbas noted that several empirical studies had shown that Nigeria has the potential to further increase revenue if priority tax reforms are implemented. He stated that “the House stands ready to support the Executive to achieve its overall goal of reversing the negative trend.”

He also noted that this is in keeping with the Legislative Agenda of the House, which prioritises economic growth and development, focusing on economic restructuring, diversification and agricultural development and enacting tax reforms that will simplify our tax codes, expand the tax base and strengthen mechanisms for compliance.

The Speaker stressed: “Of particular interest to the House is increasing government revenues without unduly burdening the citizens, especially the vulnerable.”

Another important thematic area at the retreat, Speaker Abbas noted, was the potential of digitalisation and technology to transform tax administrations by enhancing the efficiency, transparency, and fairness of tax systems. He said these advancements enable tax authorities to collect, process, and utilise information more effectively, leading to improved operational capacities.

For taxpayers, he said integrating digital tools could simplify compliance, making it a more seamless part of everyday personal and business activities, thereby reducing friction and increasing ease of engagement with tax systems.

The Speaker noted that the second leg of the retreat centred on the Petroleum Industry Act (PIA), which represents a legislative milestone passed by the 9th Assembly. “This Act is not just a piece of legislation but a transformative blueprint designed to overhaul the petroleum industry, which is the backbone of our economy,” he said, adding that, “It’s an opportunity to align our actions with our aspirations, ensuring that this vital sector operates efficiently, transparently, and, most importantly, beneficially for every Nigerian.”

Speaker Abbas stated that the National Assembly is vital in ensuring continuous review of the PIA to ensure its effectiveness in a rapidly evolving industry landscape. This, he said, involves meticulously monitoring the implementation of the Act, analysing its impacts, and identifying areas where modifications may be necessary.

“For this reason, we are actively engaging various stakeholders at this retreat, including government bodies, industry experts, and community representatives.

“Today’s sessions are designed to gather diverse perspectives and insights, which will be essential for making informed amendments that address emerging challenges and ensure that the Act meets its intended objectives.

“This iterative process will not only help in fine-tuning the Act but also ensure that it remains aligned with the broader economic and environmental goals of Nigeria,” he said.

News

Just in: Andy Burnham Emerges as UK PM

Published

6 hours ago

July 17, 2026

EMMANUEL AGAJI

ADVERTISEMENT

Veteran British politician Andy Burnham has emerged as the new leader of the United Kingdom’s governing Labour Party, clearing the way for him to become the country’s next Prime Minister following the resignation of Keir Starmer.

Burnham was confirmed as Labour leader on Friday after no other candidate secured the required nominations to challenge his bid during a special Labour Party conference, effectively handing him the leadership unopposed. The outcome was officially announced by the UK’s Interior Minister, Shabana Mahmood, who declared Burnham the duly elected leader of the Labour Party.

“There being no other eligibly nominated candidate, it is therefore my honour to declare that the duly elected leader of the Labour Party is Andy Burnham,” Mahmood told party delegates.

Burnham’s emergence comes at a pivotal moment for the Labour Party, which has been grappling with internal uncertainty following Starmer’s decision to step down as party leader amid mounting pressure from within the party. A seasoned politician, Burnham has held several senior ministerial positions under previous Labour governments.

He later became Mayor of Greater Manchester, where he built a strong national profile through his advocacy for greater regional autonomy, improved public services, and increased investment in local communities.

His tenure as mayor earned him widespread recognition, particularly during periods of national crisis when he repeatedly called for increased financial support and greater decision-making powers for local authorities. Burnham is expected to complete the constitutional process and formally assume office as the United Kingdom’s Prime Minister on Monday.

In his acceptance speech, the incoming Labour leader pledged to reunite the governing party after a period of internal divisions and restore public confidence in government.

He also promised to devolve more powers from central government to local authorities, arguing that local communities should have greater control over decisions affecting their economies and public services.

Among his key priorities are strengthening the National Health Service (NHS), improving public transport, stimulating economic growth, and expanding opportunities across every region of the United Kingdom. Political analysts believe Burnham’s administration will focus heavily on regional development, investment in public infrastructure, and reforms aimed at reducing economic inequalities across the country.

His confirmation has already drawn reactions from political leaders, Labour members, and supporters, many of whom expressed optimism that his leadership could mark the beginning of a new chapter for both the Labour Party and the United Kingdom. Attention is now expected to shift to the formation of Burnham’s cabinet and the policy agenda his government intends to pursue during its first weeks in office.

News

Senate moves to amend archaic provisions in Petroleum Laws

Published

6 hours ago

July 17, 2026

Austin Ojomah

ADVERTISEMENT

The Chairman of the Senate Committee on Petroleum (Upstream), Senator Williams Eteng, has revealed that the National Assembly is moving to amend Nigeria’s petroleum laws to align them with current economic realities, describing many of the existing provisions as obsolete.

Speaking with journalists after the committee’s meeting, the Cross River Central lawmaker said the committee’s priority is to strengthen the petroleum sector by improving infrastructure, increasing crude oil production and providing a legal framework capable of supporting sustainable growth.

“We are looking at ways of improving the petroleum sector, strengthening infrastructure, and increasing crude oil production. That is our major focus,” Eteng said.

The senator disclosed that the committee had already received a proposal seeking amendments to the principal petroleum laws, noting that several penalties and fines currently contained in the legislation have remained unchanged for decades.

“A presentation has been made for us to amend the principal petroleum laws. The penalties are old and outdated. Some of the fines were enacted in 1951, while others date back to 1962. There is a need to bring these laws in line with present-day realities,” he stated.

According to him, reviewing the laws has become imperative to ensure they adequately reflect modern economic conditions and provide an effective regulatory framework for the petroleum industry.

“Laws are made to serve society, and they must be amended from time to time to reflect current economic realities,” he added.

Eteng also addressed reports suggesting that the Nigerian National Petroleum Company Limited (NNPCL) delegated a junior officer to appear before the committee, dismissing the claim as inaccurate.

He clarified that the official seen at the committee meeting was merely the company’s liaison officer to the National Assembly and not a representative appearing on behalf of the NNPCL management.

“There was no junior officer representing NNPCL before the committee. The person you saw is the liaison officer between the National Assembly and NNPCL. Please get that right. NNPCL requested an excuse, and another date will be fixed,” he explained.

The chairman reaffirmed the committee’s commitment to engaging relevant stakeholders as it advances legislative reforms aimed at modernising Nigeria’s petroleum industry, enhancing regulatory efficiency and creating an enabling environment for increased investment and production.

News

Ex-Miss Universe Nigeria Chidimma Adetshina appears in South African court to fight deportation

Published

7 hours ago

July 17, 2026

Austin Ojomah

ADVERTISEMENT

Ex-Miss Universe Chidinma Adetshina, returned to the Cape Town Regional Court on Thursday, July 16, 2026 as she continued her legal fight against deportation after her arrest for allegedly being in South Africa illegally.

Proceedings resumed shortly after 2pm, when the former Miss South Africa contestant was expected to submit an affidavit detailing the steps she says she has taken to regularise her immigration status.

According to an update from eNCA reporter Nobesuthu Hejana, the affidavit forms part of her effort to challenge the Department of Home Affairs’ deportation case.

Adetshina was arrested on 6 June and first appeared in the Cape Town Regional Court on 9 June.

She was released on warning while the matter was postponed to allow the legal process to continue.

The Department of Home Affairs alleges that she and her minor son were living in South Africa without lawful immigration status and is seeking her deportation through the courts.

Court documents previously filed by immigration officials state that authorities believe Adetshina entered South Africa while prohibited from doing so.

Those allegations remain before the court and have not been tested at trial.

Speaking outside court, Nobesuthu Hejana reported: ‘After 14H00 she will present an affidavit on steps she’s taken to regularise her status in the country.’

The court is expected to consider the affidavit alongside the Department of Home Affairs’ submissions before deciding on the next steps in the deportation proceedings.

The court proceedings mark the latest development in the immigration dispute surrounding the beauty queen, whose nationality became the subject of intense public debate during her participation in the 2024 Miss South Africa pageant.

Adetshina, who was born in Soweto, South Africa, to a Nigerian father and a Mozambican mother, had initially contested for the Miss South Africa 2024 crown before withdrawing from the competition amid controversy surrounding her family’s citizenship status.

Her withdrawal followed an investigation by South African authorities into allegations concerning her mother’s identity and citizenship documentation.

The controversy also sparked widespread social media attacks directed at Adetshina because of her Nigerian heritage, despite the fact that she was born in South Africa and had met the eligibility requirements for the beauty pageant.

In August 2024, the South African government stated that Adetshina’s mother, at the time the contestant was a finalist in the Miss South Africa competition, may have been involved in identity theft.

Adetshina was later accepted an invitation to compete in the Miss Universe Nigeria pageant, and emerged as the winner, earning the opportunity to represent Nigeria at the global Miss Universe competition.Africans & Diaspora

At the 73rd Miss Universe pageant held in Mexico City, Adetshina, finished as the first runner-up and was also crowned Miss Universe Africa and Oceania.