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Nigerian Govt To Reintroduce Telecom Tax, Others To Secure $750m Loan From World Bank
The Nigerian government has drafted a plan to reintroduce the telecommunications tax previously suspended and other revenue-generating measures to secure a $750 million World Bank Loan.
This is according to the recent Stakeholder Engagement Plan for Nigeria – Accelerating Resource Mobilisation Reforms programme between Nigeria and the World Bank.
The document posted on the World Bank’s website showed that the Nigerian government might reintroduce taxes on telecoms, electronic money transaction levies, and other fiscal measures.
The Washington-based World Bank’s contribution of $750 million constitutes a significant portion of the programme’s budget, and the government is expected to contribute $1.17 billion through annual budgetary. Nigeria requested the loan in 2021 but was earlier stopped.
“Domestic Revenue Mobilisation drive in the government ARMOR program seeks to increase revenue on some targeted industries and sectors of the economy. Specific groups and agencies within affected sectors include the Association of Licensed Telecom Operators of Nigeria: The introduction of excises on telecom services requires that all telcos are mobilised to participate fully in collecting such revenue.
“Committee of Bankers: Introduction of EMT levy on electronic money transfers through the Nigerian Banking System would need the buy-in of all banking institutions”, the document partly reads.
The development comes after President Bola Tinubu, in July 2023, ordered the suspension of the five per cent excise duty on telecommunications and the Import Tax Adjustment levy on certain vehicles.
Recall that the Nigerian government applied for the $750 million loan in 2021 to improve the government’s financial position by enhancing its capacity to manage and mobilise domestic resources effectively, which includes improving tax and customs compliance and protecting oil revenues.
Sectors affected include manufacturers of goods such as alcoholic beverages, tobacco products, sugar-sweetened beverages, telecom and banking service providers, and the general tax-paying public, importers and international traders.
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Drama As Abuja Bolt Driver Makes U-turn, Apologises To Abia Rep, Alex Ikwechegh
An Abuja Bolt driver, Stephen Abuwatseya has apologised to the Abia federal lawmaker, Alex Ikwechegh who assaulted him.
Abuwatseya said his provocative utterances caused a misunderstanding with Ikwechegh.
He asked Nigerians for forgiveness.
In a video released on Thursday, the Bolt driver urged Nigerians to move on from the incident.
He said: “Good day, Nigerians. My name is Stephen Abuwatseya. I had a misunderstanding with Rt. Hon. Alex Mascot Ikwechegh a few days ago. I actually want to apologize to him for whatever I must have said or done to provoke him to that level of anger.
“I want to tell Nigerians that it’s not time for us to start dividing ourselves based on religion, tribes, or regions. We should actually come together, see how we can unite this nation, and move it forward.
“Please, Nigerians, let’s forgive and forget, as it’s even contained in our Lord’s Prayer, that ‘Lord, please forgive us, as we forgive those who trespass against us.’ For there is no justice without forgiveness. Thank you very much.”
On October 28, the House of Representatives member representing Aba North/South of Abia State, assaulted the Bolt driver while he was delivering a package at his residence in Abuja.
In the footage, the lawmaker repeatedly slapped and insulted the driver.
Ikwechegh also threatened to make the Bolt driver disappear from Nigeria.
He was subsequently arraigned before a Magistrate Court in Kuje area of the Federal Capital Territory where he pleaded not guilty.
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War: Trump will give Netanyahu a blank check – Ex-CIA boss, Panetta
By Kayode Sanni-Arewa
A former CIA director and US defence secretary Leon Panetta, Donald Trump would offer Israeli Prime Minister Benjamin Netanyahu a “blank cheque” in the Middle East once he takes office, potentially paving the door for a full-scale conflict between Israel and Iran.
He said that Israel would receive his approval for every action taken by the president-elect, who defeated Democratic candidate Kamala Harris to win the presidency this week and will return to office in January
“With regards to the Middle East, I think he’s basically going to give Netanyahu a blank check,” he said via the Guardian, UK.”
Whatever you do, whatever you want to do, whoever you want to go after, you have my blessing.’ I mean, he basically said that [before the election].”
Since Hamas’s October 7 attack on Israel last year, Netanyahu has presided over attacks on Iran and its assets as part of an expanding conflict.
During the US election campaign, he reportedly spoke with the US president-elect.
Following Trump’s triumph over Kamala Harris on Wednesday, Netanyahu praised him.
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My relationship with Kwankwaso is perfect, Kano Gov reacts to alleged feud
By Kayode Sanni-Arewa
Kano State Governor, Abba Yusuf has denied having any form of rift between him and his political leader, Rafiu Kwankwaso.
Responding to the rising tensions within the party, the NNPP’s state leadership recently suspended Abdullahi Baffa Bichi, Secretary to the State Government, and Muhammad Diggol, Commissioner of Transportation, accusing them of involvement in the “Abba Tsaya da Kafarka” campaign. Both officials have denied these allegations.
As support for this faction grows, other prominent members of the Kwankwasiyya movement, including House representatives Aliyu Sani Madakin Gini and Alhassan Rurum, have publicly distanced themselves from Kwankwaso, encouraging Yusuf to assert his independence.
Governor Yusuf, however, stood firm in his loyalty.
“It’s as if people do not understand the role Kwankwaso has played. Where were these critics when he was laying the foundation for what we are doing now?” he questioned.
Yusuf also expressed frustration with media reports suggesting that he had ignored multiple calls from Kwankwaso. “They said Kwankwaso called me more than 30 times, and I refused to answer. Where did they get this from?” Yusuf asked. “If not for my respect for journalists, I would have taken the person who wrote that to court. But I know, and Kwankwaso knows, that it’s all lies. There is no rift.”
Finally, he appealed to his supporters to reject divisive slogans, urging respect and unity within the party. “As of today, I don’t want to hear ‘stand on your own’ in Kano State or anywhere in Nigeria,” he said. “We were raised to respect elders, not to insult them.”
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