News
Why govs demanded further talks on tax bills – Makinde
Oyo State Governor, Seyi Makinde, on Sunday, said the 36 state governors demanded wider consultation on President Bola Tinubu’s tax reform bills in order to carry the entire nation along, given the far-reaching implications of the reforms.
Makinde also clarified that he was not opposed to the tax reforms but only presented the reservations raised by the governors to the press.
In a statement issued by his Special Adviser on Media, Dr. Sulaimon Olanrewaju, Makinde made this clarification during a media chat on the Broadcasting Corporation of Oyo State on Saturday.
On October 3, 2024, President Bola Tinubu transmitted four tax reform bills to the National Assembly: the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and Joint Revenue Board Establishment Bill.
These bills have sparked controversy, with many stakeholders opposing certain sections proposed by the government.
Makinde, who had briefed the media on the position of the National Economic Council regarding the bills, explained that the NEC unanimously agreed that the bills should be withdrawn from the National Assembly to allow for wider consultation.
“At the NEC meeting, we asked the Chairman of the Presidential Task Force about the status of the bills, and he confirmed they were already at the National Assembly,” Makinde said. “I asked, ‘If that’s the case, why are you just coming to us for approval?’ It amounted to putting the cart before the horse.”
He continued: “We agreed that the bills should be withdrawn, enabling broader consultations with stakeholders. This could lead to alignment, whether in their original form or with necessary adjustments based on stakeholder feedback.”
Addressing criticisms that he was opposed to the reforms, Makinde stated: “I was asked to explain our decision to withdraw the bills for consultation, but some people chose to focus on the messenger rather than the message.”
Makinde described the Ibadan funfair tragedy, which claimed the lives of 35 children on Wednesday, December 18, 2024, as a monumental loss.
He noted that the incident, alongside the Bodija explosion in January 2024, could have been avoided if appropriate measures had been taken.
In the Bodija explosion, five people died, 77 sustained injuries, and 58 houses were damaged.
The explosion, which occurred on Dejo Oyelese Street on January 16, was reportedly caused by explosives stored by illegal miners.
Eleven months later, 35 children died, and six others were critically injured in a crowd crush at a funfair held at Islamic High School, Basorun, Ibadan.
The funfair was organised by the foundation of Naomi Silekunola, a former queen of the Ooni of Ife.
Makinde observed a minute of silence for the victims during the media chat.
He assured the public that the legal process was ongoing, though slow.
Addressing allegations of land grabbing linked to the Circular Road project, Makinde said his administration was taking bold steps to break the limitations faced by previous governments in economic expansion.
“Some people have described me as a land grabber,” he said. “Ironically, those under investigation for land grabbing are the ones making these accusations. The Circular Road is not just another road; it will be the first motorway in Nigeria. The 32km stretch from Technical University to Badeku will have only two exit points, ensuring structured development along the corridor.”
Makinde emphasised that his government was committed to initiatives that would benefit residents, even if such decisions seem harsh in the short term.
“To break the cycle of poverty, we need to seize opportunities for lasting impact. Our state’s founding vision is one of prosperity, not poverty,” he said.
Makinde pledged a major overhaul of Oyo State’s education infrastructure in 2025, noting that his administration had consistently exceeded the United Nations Educational, Scientific, and Cultural Organization benchmark for budgetary allocation to education.
“We’ve rearranged resources to prioritise education because it’s critical to our development,” Makinde said. He acknowledged that despite significant investment, much work remains, estimating that N60 billion is needed to address the sector’s challenges.
“For tertiary institutions, we are doing well, and I am satisfied,” he added.
The Federal Government has allocated a total of N6,364,181,224 billion for the renovation and rehabilitation of the residential quarters of President Bola Tinubu, Vice President Kashim Shettima, and some of their aides in the 2025 budget proposal.
Sunday PUNCH’s analysis of the proposed allocation, contained in the 2025 Appropriation Bill presented to the National Assembly, showed that the annual maintenance of the Presidential Villa would gulp N5.49bn.
According to the proposed budget, N765m will be used for the renovation of the Vice President’s quarters and guest house.
The renovation of the president’s quarters at the State House will cost N6.39m, while the renovation of security quarters, auditorium, gymnasium and presidential aides’ quarters will cost N49m.
In addition, the renovation of Prescott barracks at Maple State House officers’ mess building and signal office in Asokoro, Abuja will cost N51m.
Further analysis of the budget revealed that Tinubu and his vice are also expected to have N87m as honorarium and sitting allowances, while N127m was allocated for the procurement of SUVs.
Also, N3.66bn was budgeted for the purchase of State House operational vehicles and N1,09bn will be spent on replacement of SUV vehicles at the State House.
Under the budget of the State House Lagos Liaison Office, there is an allocation of N14.72m for the routine maintenance of State House Lagos facilities (Dodan Barracks, Vice President guest houses at Ikoyi, among others).
Another N140.10m was allocated for the completion of renovation and furnishing of the State House annex (Dodan Barracks), Lagos.
Meanwhile, the Federal Government is planning to spend N1.83bn on converting forfeited properties from the Economic and Financial Crimes Commission into State House quarters.
The plan to convert forfeited houses from the EFCC comes in the same month that the commission disclosed the recovery of an estate in the Lokogoma District of Abuja, measuring 150,500 square metres and containing 753 units of duplexes and other apartments.
The commission described this as its “single largest asset recovery” since its inception in 2003.
The estate rests on Plot 109 Cadastral Zone C09 of the district, and was forfeited in a ruling on Monday, December 2, 2024, by Justice Jude Onwuegbuzie.
(Punch)
WHEN we look at this month, USD was traded at ₦ at the beginning of this December on Monday, December 2, 2024. As at today with USD being traded at ₦1,655 we see a % for United States Dollar to Naira exchange rate for this month.
On this page, we are primarily focusing on the Black Market Dollar To Naira Exchange Rate Today, the USD to Naira currency pair are the most traded currency in the FX market.
Black Market Exchange Rates
Buying Rate
Selling Rate
Dollar to Naira 1655 1640
Pounds to Naira 2150 2000
Euro to Naira 1730 1700
Canadian Dollar to Naira 1146 1135
Rand to Naira 52 43
Dirham to Naira 0 0
Yuan to Naira 62 62
G.Cedi to Nair 70 50
CFA F. (XOF) To Naira 0.83 0.81
CFA F. (XAF) To Naira 0.74 0.74
READ ALSO: INSIDE LIFE: 26-Year-Old Lady Died In Bangladesh With No One To Claim Her Body, She Is A Nigerian From Enugu (SEE PHOTO)
Having full knowledge how much USD to NGN black market exchange rate today will give you a better opportunity to plan and make informed decisions.
Nairatoday.com
Passengers of a train plying the Warri-Itakpe route escaped death on Sunday as the train derailed at Okpara in the Ethiope East Local Government Area of Delta State.
It was gathered that the passengers were stranded following the incident that happened at about 10pm.
According to eyewitness accounts, some of the passengers got to their destinations on Monday morning.
“The incident happened at Okpara Station last night. They stole many people’s phones and other valuables when they slept at night,” a source said.
“It’s this morning that everybody began to find their way to their various destinations.”
The Nigerian Railway Corporation confirmed the incident in a statement by its spokesman, Yakub Mahmood on Monday.
Mahmood said the service will resume shortly, adding that a team of engineers is at the site of the incident to ensure the track is restored soon.
According to him, the train service will resume as scheduled on Monday afternoon.
The statement reads in part, “The management of the Nigerian Railway Corporation (NRC) hereby informs the general public, especially our valued passengers that ply the Warri-Itakpe route, that following the minor derailment yesterday at the Okpara station, the service will resume shortly as our team of engineers are at the site of the accident to ensure the track is restored anytime soon.
“However, Itakpe-Warri (Ujewu) train will resume as scheduled in the afternoon today.
“All inconveniences caused as a result of the minor derailment is highly regretted.”
Renovation: Tinubu, Shettima’s official quarters to gulp N6.36bn
SEE NAIRA Rates Against The USD, GBP, EURO Today December 23, 2024
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