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Personal Income Tax by wealthy Nigerians to hit 25%, says Edun
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• Rise in govt revenue, creative policies will fast track infrastructure devt.
Personal Income Tax (PIT) payments by wealthy Nigerians will go up from 18.6 per cent to 25 per cent when the Tax Reform Bills become law, according to a projection by the Federal Government.
Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said the upward trajectory in revenue will complement the 20 per cent increase recorded last year.
He said Nigeria’s economy has achieved relative stability over the past 18 to 20 months.
He spoke in Abuja during a Zoom dialogue meeting, according to the News Agency of Nigeria (NAN).
The Tax Reform will also tighten government expenditure, he added.
Edun said economic growth this year, would be driven by agriculture, housing and infrastructure.
On agriculture, he said the government would continue to ensure good harvests through improved dry and wet season farming techniques.
According to him, the introduction of a 25-year low-interest mortgage with single or low double-digit interest rates to address the housing deficit.
“The Highways Management and Development Initiative (HMDI) would facilitate the concessioning of major highways to improve road infrastructure,” he said.
An example of this is the 125-kilometre Benin-Asaba Highway being funded solely by a private organisation.
Edun said the government was transitioning from concessional and bilateral financing to cheaper sources of funding, including a domestic bond issue.
He also reiterated the government’s commitment to resolving pensioners’ legacy debt, adding that over N700 billion in bonds had been issued for pension payments.
Acknowledging that Nigeria remains an oil-dependent economy, Edun stressed that the government was making efforts to create a safe and investor-friendly environment for oil operations.
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“Maximise revenue from fossil fuels while it remains viable, encourage public-private partnerships, joint ventures, and privatisation to boost investment.
“Now is the time for equity, revenue generation and private sector participation, both domestically and internationally,” he said.
Reflecting on the situation at the outset of the President Bola Ahmed Tinubu Administration, Edun explained that the economy narrowly avoided collapse, having survived on illegally borrowed central bank funds far beyond regulatory limits.
“In the last quarter of 2024, the economy grew at roughly 3.84 per cent, which is close to the annual target of 3.4 per cent.
“Looking at the metrics, inflation has started to slow down.
“It dropped by 1.3 percentage points between January and February, and food inflation is also declining.
“Additionally, the cost of petroleum and energy is down due to sectoral dynamics,” he said.
Edun noted that stabilising the exchange rate had positively impacted imported goods and services, such as healthcare and education.
He said the balance of trade was positive, with government revenues increasing by 20 per cent in 2024.
Edun said the economy was stabilising, the budget deficit was reducing, and debt servicing as a percentage of revenue had dropped.
“All economic indicators are moving in the right direction, and most importantly, the cost of living is gradually improving.
“With this progress, the government is now focusing on further stabilisation and creating an environment that encourages private sector investment.
“We are also leveraging technology to enhance revenue generation from government-owned enterprises,” the minister said.
News
Nigerian Tech Founder Launches AI-Powered School Management Platform To Transform Education Administration
By Kayode Sanni-Arewa
Nigerian software engineer and technology founder, Ajibola Olajide Shokunbi, has launched EDUCAKESIMS V2, an upgraded school-management platform designed to help educational institutions improve administration, financial transparency, data-driven decision-making and teacher productivity.
The platform combines real-time analytics, financial dashboards, banking visibility and artificial intelligence-assisted report management to provide schools with a unified system for managing academic and operational activities.
Since its launch in 2022, EDUCAKESIMS has grown from a local school-management solution into a platform used by more than 12 schools and supporting the management of over 12,000 students.
Shokunbi said the platform was developed to address challenges faced by many Nigerian schools, including reliance on manual processes, fragmented records and spreadsheet-based reporting, which often make it difficult for administrators to access timely information about their operations.
As the founder of EDUCAKESIMS, Shokunbi has overseen the platform’s development into an integrated system supporting academic administration, financial management and institutional planning.
The latest version, EDUCAKESIMS V2, introduces several features aimed at improving how schools monitor performance and manage resources.
The School Analytics Dashboard provides real-time insights into student population, admissions, retention, attendance, gender distribution and demographic trends, enabling school leaders to make informed decisions.
The Income and Expenditure Dashboards allow proprietors and finance teams to track revenue, expenses, outstanding balances and overall financial performance, improving budgeting and accountability.
The School Banking Dashboard uses secure banking integration to give authorised finance personnel near real-time access to school banking transactions, helping to reduce reconciliation delays and improve cash-flow monitoring.
The platform also includes an AI-assisted Report-Card Management feature, designed to help teachers prepare student reports more efficiently while reducing repetitive administrative tasks.
Speaking on the upgrade, Shokunbi said EDUCAKESIMS was built around the realities of Nigerian schools and the need for practical digital solutions.
“EDUCAKESIMS was built from a deep understanding of the realities of Nigerian schools. Many institutions want to digitise, but they need solutions that are practical, affordable and designed around their own operating environment,” he said.
“With EDUCAKESIMS V2, we are bringing together data analytics, financial intelligence, banking visibility and artificial intelligence to help schools make faster, smarter and more accountable decisions.”
The founder said the platform would help schools operating across multiple campuses overcome challenges associated with managing separate administrative, billing, inventory and academic systems.
Dr Akinleye Akingbami, Proprietor of Grace Spring Schools, said EDUCAKESIMS had improved visibility and coordination across the organisation’s campuses spread across six states in Nigeria.
He said managing thousands of students across multiple locations was previously challenging due to fragmented financial reporting, payment reconciliation delays and stock-management issues.
“Since adopting EDUCAKESIMS, we now manage all our campuses through one integrated platform with real-time visibility into both our academic and financial operations,” Akingbami said.
He added that processes which previously took days could now be completed within minutes, while financial accountability and decision-making had improved through access to accurate data.
The launch of EDUCAKESIMS V2 comes amid growing interest in Nigeria’s education technology sector, as schools increasingly adopt digital tools to improve efficiency, accountability and communication.
The platform reflects efforts by local technology founders to develop solutions tailored to the operational needs of Nigerian institutions rather than relying solely on systems designed for other markets.
Shokunbi said the expansion of EDUCAKESIMS demonstrates the role locally developed software can play in strengthening digital infrastructure and supporting the modernisation of education management in Nigeria.
News
Rep OK Chinda’s political network sparks across Rivers
The battle for the political soul of Rivers State gathered fresh momentum on Monday, August 3, 2026, as supporters of the former House of Representatives Minority Leader, Hon. Kingsley Chinda, activated what appears to be an early statewide mobilisation strategy, extending their campaign machinery to all 23 local government areas and ward structures ahead of the 2027 governorship election.
The development signals that while the official electioneering whistle is yet to be blown, political camps are already laying claim to the grassroots in what analysts describe as a familiar contest where influence, structure and strategic alliances often determine who eventually occupies Brick House.
The pro-Chinda support group, Our Will, announced the expansion of its political network across the state, directing its state executive members to immediately establish functional local government and ward executives capable of driving voter mobilisation before formal campaigns commence.
State Chairman of the group, King Okene, said the organisation was determined to transform Chinda’s existing political popularity into what he described as an “unstoppable electoral mandate,” insisting that every ward must become a political fortress for the lawmaker’s governorship aspiration.
According to him, the publication of the electoral timetable has effectively opened a new phase of political calculations, making early grassroots organisation a strategic necessity rather than a luxury.
“We should double our efforts to ensure we meet the targets before electioneering campaigns officially begin. Every local government and ward structure must be fully operational within the first week of August,” he charged members.
In what appeared to be a calculated attempt to frame Chinda as the political heir to a tested governance model, President-General of Our Will, Glory Wobo, declared that the federal lawmaker’s years of public service and close political association with the Minister of the Federal Capital Territory, Nyesom Wike, have adequately prepared him for the state’s highest office.
Wobo argued that leadership is cultivated through mentorship rather than chance, maintaining that Chinda’s political apprenticeship under Wike – combined with his experience as commissioner and long-serving legislator – has equipped him with the administrative depth required to govern Rivers State.
He cited ongoing infrastructure renewal in the Federal Capital Territory as evidence of the leadership tradition from which Chinda emerged, suggesting that effective governance leaves measurable footprints rather than campaign slogans.
According to Wobo, Chinda enjoys goodwill that cuts across political parties, ethnic groups and religious divides, describing the lawmaker as a consensus figure whose appeal extends beyond partisan politics into credibility, accessibility and public service.
The latest mobilisation drive underscores the intensifying political chess game ahead of the 2027 governorship election, where aspirants are increasingly investing in grassroots structures long before formal campaigns begin.
With support groups already deploying ward-by-ward political architecture and competing camps quietly consolidating influence, Rivers State is once again demonstrating that, in Nigerian politics, the contest for power often begins long before the first ballot is printed.
News
NBC files fresh appeal, justifies N5m fine regime for broadcasters
The National Broadcasting Commission (NBC) has filed an application seeking the permission of the court of appeal to file a fresh appeal against the judgement of the federal high court in Abuja barring it from imposing N5 million fines on erring broadcast stations.
In the application filed at the court of appeal in Abuja by Dapo Akinosun, counsel to the NBC, the commission argued sanity in Nigeria’s broadcasting sector is under threat and that the public interest would be better served if the court grants the application.
In the application, the NBC urged the court to grant it leave to raise and argue a fresh issue on appeal relating to the legal capacity of MRA to institute and maintain the original suit before the lower court.
The commission argued that the defect in the earlier notice of appeal, which resulted in the dismissal of its appeal, arose “solely from an inadvertent misdescription” of its name by its lawyer.
The NBC told the court that the subsisting judgement raises questions on the commission’s statutory powers to regulate broadcasting and enforce compliance with broadcasting standards in Nigeria.
The commission argued that the subsisting judgment is capable of creating uncertainty regarding its regulatory powers if it is allowed to stand.
The NBC also argued that without the pronouncement by the appellate court on the issues raised in the appeal, its regulatory framework would be weakened.
“A weakened regulatory framework may embolden non-compliance with established broadcasting standards, thereby increasing the dissemination of false, misleading and unverified information capable of causing unnecessary public anxiety, panic and social unrest,” the NBC said.
“Absence of effective regulatory oversight may further encourage irresponsible broadcasting practices and the misuse of broadcast and digital media platforms by persons who deliberately publish sensational, inaccurate or inflammatory content to intimidate, harass or unduly influence individuals, institutions and public discourse.”
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