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N8trn Lost To Waivers, Concessions Yearly – Faleke

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By Gloria Ikibah

The House of Representatives has decried that Nigeria loses about N8 trillion annually due to waivers and concessions.

Chairman Ahoc Committee on the Review of Tax and Export Incentives, Waivers and Exemptions, Rep. James Faleke, revealed this in a statement, assuring that periodic review of the exercise will be given and the committee will be transparent in its probe.

He said: “You will recall that on the 13th, the House debated the above motion with vigour and serious concern. Accordingly, the House constituted an Ad Hoc Committee pursuant to Resolution HR.112/11/2025 of 13 November 2025, with a mandate to investigate revenue losses and leakages arising from the administration of these incentives and to recommend appropriate policy and legislative reforms.

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“This 19-Member Ad-Hoc Committee is chaired by no less a personality than Rt. Hon. James Abiodun Faleke, who also chairs the Committee on Finance. The House was intentional about its membership.

“The Committee has, accordingly, commenced a structured review of the administration and impact of tax incentives, export incentives, waivers, exemptions, and other fiscal support instruments granted by the Federal Government between 2015 and 2025.

“Available data indicate that Nigeria loses an estimated ₦8 trillion annually to such waivers and concessions. Between 2023 and 2026, the federal government projects total revenue forgone from tax incentives at ₦12.4 trillion, while the tax-to-GDP ratio remains at only 10.6%, which is among the lowest in Africa.

“This is paradoxical and concerning, given the financial and fiscal challenges the nation is facing. The new tax regime has presented us with an opportunity to look inwards”.

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The committee Chairman said the review was as a result of increasing concerns, based on the available official data and budgetary reports, that significant public revenues may have been forgone or ineffectively applied under various incentive schemes, at a time when the nation continues to face pressing fiscal, infrastructure, and development challenges.

“While these incentives were originally designed to stimulate investment, promote exports, support strategic sectors, and grow the economy, the House has resolved that it is both necessary and timely to:Assess their actual economic impact;
• Determine whether they were administered transparently and in line with due process; and
• Ensure that Government support delivers measurable value to the Nigerian economy.

“Given the breadth and complexity of the subject matter, the Committee is conducting its work in phases. The first phase of the review focuses on four priority areas with significant fiscal and economic implications:

“The Export Expansion Grant (EEG); The RT200bn FX Programme; The Pioneer Status Incentive; and
Selected Oil and Gas fiscal incentives”, he added.

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Faleke noted that the exercise is not a witch-hunt and should not be misconstrued as an attempt to undermine legitimate businesses or government support programmes.

“Rather, it is intended to strengthen the administration of incentives, safeguard public funds, and restore confidence in policies designed to support investment and export-led growth.

“In particular, the Committee recognises the concerns of exporters regarding outstanding obligations under the Export Expansion Grant and is undertaking an evidence-based verification process to ensure that legitimate and duly substantiated claims are validated and appropriately addressed.

“As part of its work, the Committee has requested records from relevant Ministries, Departments, and Agencies and will, where necessary, invite companies that have benefited from these incentives to provide clarification and documentation. Such engagements will be conducted transparently, fairly, and in accordance with due process.

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“The Committee’s work forms part of the House of Representatives’ broader oversight responsibility and supports the Federal Government’s ongoing economic reform efforts, including the objectives of the President’s Renewed Hope Agenda to build a resilient, competitive, and productive economy.

“The House assures stakeholders and the general public that periodic updates will be provided as the review progresses”, he promised.

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NASENI Reiterates Commitment to Healthcare Innovation

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NaseniBy Gloria Ikibah

The National Agency for Science and Engineering Infrastructure (NASENI), has restated its commitment to strengthening Nigeria’s healthcare sovereignty through local manufacturing of medical diagnostic technologies.

The Executive Vice Chairman and Chief Executive Officer of NASENI, Khalil Suleiman Halilu, affirmed this while hosting participants of the Harvard University-led Science of Defeating Malaria programme at a closing dinner in Abuja, following their visit to the NASENI-TROMENT Biotechnologies Factory, where they commended the facility’s role in advancing disease control and healthcare innovation in Africa.

The delegation, led by Professor Dyann F. Wirth of Harvard University and comprising about 85 global health professionals, scientists and policymakers, toured the state-of-the-art facility and described it as a significant step towards combating malaria and other infectious diseases across the continent.

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Speaking at the dinner, the NASENI boss noted that the commendation further validated the vision behind the NASENI-TROMENT Biotechnologies Factory, a strategic project initiated 18 months ago to reduce Nigeria’s dependence on imported diagnostic kits and strengthen local healthcare manufacturing capacity.

He explained that the facility is designed to produce up to 600 million diagnostic kits annually, enough to meet about 80 per cent of Nigeria’s diagnostic testing needs while creating opportunities for export to other African countries and global markets.

The factory manufactures rapid diagnostic tests (RDTs) and in-vitro diagnostic (IVD) products under the N-CheckUP brand for diseases and conditions including malaria, hepatitis B and C, HIV, typhoid, syphilis, COVID-19, pregnancy and blood glucose monitoring.

According to Halilu, the project aligns with NASENI’s broader mandate of deploying science, technology and innovation to address national challenges, create jobs and build industrial capacity.

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He expressed appreciation to Professor Wirth and members of the Harvard delegation for their recognition of the progress made at the facility and reaffirmed NASENI’s commitment to developing innovative solutions that improve lives and position Nigeria as a leading healthcare manufacturing hub in Africa.

The Science of Defeating Malaria programme, which was held in Abuja from June 7 to 13, brought together global experts committed to advancing strategies for malaria elimination and strengthening public health systems worldwide.

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Obi Slams Court Ruling Deregistering ADC, Accord, Three Other Political Parties

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By Kayode Sanni-Arewa

Ex-Labour Party presidential candidate, Peter Obi, has condemned the recent judgment of the Federal High Court in Abuja ordering the deregistration of five political parties, including the African Democratic Congress (ADC) and the Accord Party.

Justice Peter Odo Lifu of the Federal High Court reportedly directed the Independent National Electoral Commission (INEC) to immediately deregister the affected parties over alleged constitutional breaches in a ruling delivered on Monday, June 15.

Reacting to the judgment, Obi described the decision as another troubling development that could further erode public confidence in Nigeria’s democratic institutions and the judiciary.

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In a statement released on Monday, the former Anambra State governor argued that the court’s decision should be reversed, warning that weakening institutions for political purposes could have far-reaching consequences for the country.

According to Obi, the controversy surrounding the removal of former Chief Justice of Nigeria, Walter Onnoghen, had earlier raised concerns about the independence and sanctity of Nigeria’s institutions.

He noted that while investors can manage security and policy risks, uncertainty in the rule of law and perceptions of judicial vulnerability to political influence remain major deterrents to investment.

Strong economies are built on trust. Investors can manage security risks, policy risks, and even market risks. What they fear most is uncertainty in the rule of law and a judiciary that is perceived to be vulnerable to political pressure,” Obi stated.

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The former presidential candidate lamented that many Nigerians have lost faith in institutions meant to protect them, adding that businesses increasingly prefer contracts governed by foreign jurisdictions due to greater confidence in their legal systems

Obi further argued that the judgment ordering the deregistration of the ADC and other political parties would further diminish public trust in the nation’s legal system.

“The Federal High Court judgment ordering the de-registration of the ADC and other political parties is just one of those activities that further reduces the common man’s trust in our legal systems. It should be reversed,” he said.

He pledged to work towards restoring the dignity, independence, and integrity of the judiciary, emphasizing the need for a justice system that is impartial, accessible, and respected by all.

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“The common man must have a voice. The business community must be protected from legal uncertainty and intimidation. Justice must be impartial, accessible, and respected by all,” Obi added.

He also called on judges, senior advocates, legal luminaries, and lawyers across the country to defend the rule of law and safeguard Nigeria’s democratic institutions.

“To our judges, legal luminaries, senior advocates, and lawyers: this is your moment. Rise, defend the rule of law, take back your country,” he urged.

Obi concluded his statement with his popular refrain: “A New Nigeria is Possible.”

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The ruling has continued to generate debate among legal and political stakeholders, with many awaiting further reactions from the affected parties and the electoral commission.

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BREAKING: Gunmen storm NIPSS Kuru, kill two soldiers Police Officer

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…as elite policy institute fends off night raid

By Kayode Sanni-Arewa

The National Institute for Policy and Strategic Studies, NIPSS, came under heavy attack on Monday night, June 15, 2026, as suspected attackers tried to breach Nigeria’s foremost policy school near Jos.

Two soldiers and one police officer were reportedly killed before security forces repelled the assault.

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The attack began around 11:00 p.m.

Armed men attempted to force their way into the institute and reach the residential quarters where course participants were lodged, according to initial report by NewsmakersNG.

Sources said the slain police officer was the orderly attached to a retired Deputy Inspector-General of Police. The two soldiers died in the exchange of fire that followed.

But the attackers were stopped. Security operatives stationed at NIPSS mounted swift resistance and blocked access to the participants’ wing.

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“No participant was abducted because the security forces successfully repelled the attackers before they could enter the residential area,” a source familiar with the incident was quoted to have said.

—NIPSS confirms incident, urges calm—

In a press release issued early Tuesday, June 16, the institute confirmed a “security incident occurred in the vicinity of the Institute in the early hours of today.”

Management said the situation was “promptly brought under control through the swift response of security personnel and relevant security agencies.”

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“There is currently no threat to the safety of participants, staff, residents, or facilities of the Institute, and normal activities are continuing as scheduled,” said Dr. Osime Samuel, mni, Head of Public Affairs.

The institute stressed that investigations were ongoing and it would be “premature to speculate on the nature, scope, or outcome of the event.”

NIPSS said it could not confirm details circulating on social media.

“We urge members of the public and the media to rely on official communications from the Institute and relevant security agencies,” the statement added.

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–Manhunt begins, motive unclear–

As of press time, authorities had not released an official statement on the motive behind the attack.

Security has reportedly been reinforced around the institute as investigations and manhunt operations commenced.

NIPSS Kuru trains Nigeria’s top bureaucrats, military officers, and policy strategists. An attack on the institute is an attack on the country’s policy brain trust. That it was targeted at night, with participants inside, has raised fresh fears about insecurity reaching Nigeria’s elite institutions.

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For now, the guns are silent. The participants are safe. But three security men paid with their lives to keep it that way.

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