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Reps propose tax exemption for military service members

Published

23 hours ago

March 14, 2025

Admin

The house of representatives has exempted military service members from paying personal income tax (PIT).

The decision was reached on Thursday following the adoption of a report on tax reform bills, which also provides exemptions for certain agricultural businesses and other categories of income.

Personal income tax is imposed by the government on an individual’s earnings, including salaries, wages, bonuses, dividends, and other forms of income.

Section 164 of the Nigeria tax bill outlines the categories of individuals exempted from personal income tax.

While presenting the motion for the report’s consideration, James Faleke, chairman of the finance committee, said certain agricultural businesses are also exempted from personal income tax for the first five years of operation.

“In addition, wages and salaries of military officers have been proposed to be exempt from income tax,” he said.

The report also excludes several categories of individuals and entities from personal income tax.

According to the report, profits or gains from asset disposals are exempted for statutory or registered friendly societies, provided the income is not derived from trade or business.

Similarly, the committee said registered cooperative societies will enjoy tax exemptions if their earnings do not come from commercial activities.

It also said entities engaged in educational, religious, or charitable activities of public interest are also excluded, as long as their profits are not generated from business ventures.

Compensating payments that qualify as dividends or interest in regulated securities lending transactions are exempt, the report said.

The panel also said consular fees collected on behalf of a foreign state, along with the employment income of consular officers, are not taxable unless such earnings come from trade, business, or additional employment in Nigeria.

Income exemptions also extend to funds covered under the Diplomatic Immunities and Privileges Act and pension funds and assets established under the Pension Reform Act.

The report said death gratuities, compensation for injuries, and redundancy lump sum payments or other capital compensation for loss of employment are not taxable, adding that income from bonds issued by the federal or state government of Nigeria is also exempt.

The lawmaker also individuals earning the national minimum wage or less are not required to pay personal income tax.

News

Nigeria-Brazil Deepen Bilateral Ties in Key Sectors

Published

2 hours ago

March 15, 2025

Gloria Ikibah

By Gloria Ikibah

Nigeria and Brazil has taken a bold step to strengthen bilateral relationship, focusing on cooperation in agriculture, energy, and infrastructure development.

This was as a high-level Brazilian delegation, led by Foreign Affairs Minister Mauro Vieira, met with Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, on Wednesday in Abuja.

The discussions aimed to explore mutual opportunities, with both countries expected to formalize several agreements.

In his welcome address, Amb. Tuggar highlighted Brazil’s longstanding relationship with Nigeria, and noted that it was the only Latin American country to attend Nigeria’s independence celebrations.

He described the visit as a natural step in deepening cooperation and building on past engagements.

The Minister also referenced President Bola Ahmed Tinubu’s visit to Brazil last year, during which he participated in the G20 summit and pursued initiatives to enhance diplomatic and economic ties.

He said: “We welcome you and your delegation warmly, and we’re happy to see you here in Abuja.

“We share a lot in common, from our size and economies to our population and culture. This visit is a natural progression of our partnership,” he stated.

In reponse, Brazil’s Minister of Foreign Affairs, Ambassador Mauro Vieira, reaffirmed his country’s commitment to strengthening bilateral relations with Nigeria, building on previous engagements since President Lula took office in January 2023.

Vieira eemphasised he need for strategic dialogue and deeper collaboration in areas such as culture, economics, education, and cooperation.

He acknowledged the strong historical and cultural ties between Brazilians and Nigerians, highlighting the significant Nigerian influence in Brazilian society.

The envoy recalled his first meeting with Nigerian officials in Dubai in 2023, followed by the high-level discussions between President Lula and President Tinubu in Addis Ababa in 2024.

Vieira also commended President Tinubu’s participation in the G20 summit in Brazil last November, recognizing Nigeria’s contributions to global discussions.

Expressing appreciation for the warm reception in Abuja, Vieira lauded the Nigerian government for hosting the Brazilian delegation and looked forward to productive engagements to advance mutual interests.

News

Nigeria Debunk Allegations of Targeted Killings of Christians

Published

2 hours ago

March 15, 2025

Gloria Ikibah

By Gloria Ikibah

The Nigerian government has strongly refuted claims suggesting that Christians are being deliberately targeted in the country, describing such reports as misleading and aimed at influencing foreign governments, particularly the United States, to designate Nigeria as a “Country of Particular Concern” (CPC).

In a statement issued by the Acting Spokesperson, Ministry of Foreign Affairs, Kimiebi Imomotimi Ebienfa, emphasised that while Nigeria faces significant security challenges, these issues are not motivated by religious bias.

He clarified that incidents of insurgency and banditry, particularly in northern Nigeria, are not directed at any specific religious group.

The statement reaffirmed Nigeria’s status as a multi-ethnic and multi-religious nation, with the government committed to protecting all citizens, regardless of faith, ethnicity, or gender. The ministry stressed that the country’s security issues stem from criminal activities, terrorism, and communal clashes—including farmer-herder disputes—rather than religious persecution.

The statement reads: “The government of Nigeria, under the leadership of President Bola Ahmed Tinubu, has taken significant steps to address these security concerns, including the deployment of security forces, intelligence gathering and community engagement initiatives. Indeed, the military has recorded substantial gains in curtailing the activities of bandits and insurgents. To bring an end to such security challenges, both the Federal and State authorities have embarked on kinetic and non-kinetic methods and expedited the implementation of the national livestock plan.

“To this end, a Ministry of Livestock Development has been established while a Special Adviser and Coordinator of Livestock Reforms, has been appointed to find sustainable solutions to pastoral farming, with a view to end contestations over land, between farmers and pastoral herders.

“The Ministry of Foreign Affairs, therefore, urges the international community to exercise caution and verify information before drawing conclusions or making statements that could exacerbate tensions within Nigeria. We call on all stakeholders, including the media, civil society organizations and foreign partners, to refrain from spreading unverified claims that could undermine national unity and stability.

“Nigeria remains a beacon of religious tolerance and coexistence in Africa and is committed to preserving this heritage. We welcome constructive dialogue and support from the international community in addressing our security challenges. However, we strongly reject any attempts to wrongly designate the country, distort the narrative, or sow seeds of discord among our people”.

News

Tinubu will be removed from office in 2027, SDP’s Adebayo boasts

Published

5 hours ago

March 14, 2025

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The 2023 presidential candidate of the Social Democratic Party, Adewole Adebayo, has said President Bola Tinubu will be defeated in the 2027 elections.

The SDP chieftain also claimed that his party will produce the next Nigerian President.

Adewale stated this on Friday while appearing on Arise Television’s The Morning Show.

“Tinubu is going to be removed from power, that one is sure, and there would be an SDP president,” he said.

Speaking further, Adebayo vowed to run for the number seat in the country in the 2027 elections.

He expressed confidence that he would be the party’s presidential candidate in 2027 regardless of the political stature of politicians defecting to the party.

The politician said he is not afraid or threatened by the defectors, adding that every party member knows he will contest again.

He said, “Let us understand something. I don’t worry about that; everybody who is coming in knows I will run in 2027.

“Any coward who will feel threatened by people coming to his party can not be president.”

Adewole’s comment follows the defection of the immediate past Governor of Kaduna State, Nasir El-Rufai, to the party on Monday.

Following his defection, El-Rufai has been making political moves to woo some politicians to the SDP.

Adebayo also described El-Rufai as a hard-working and patriotic Nigerian, adding that the ex-governor is very effective in an area where there are no effective people in government.

He said, “The reason why I welcome El-Rufai to my party is that I see him as a patriotic Nigerian, hard working, very effective in an area where we don’t have effective people in government, that’s all.”