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Nigerian celebrities to pay 25 percent tax – Oyedele

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The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that wealthy Nigerians earning N100m and above monthly will face a 25 per cent personal income tax rate if a new tax bill is passed by the National Assembly.

He stated that 90 per cent of the current taxpayers are people who should not be taxed while advocating for a more streamlined and equitable tax system in the country.

This revelation was made during a breakout session at the ongoing 30th Nigeria Economic Summit organised by the Nigerian Economic Summit Group and the Ministry of Budget and National Planning on Monday in Abuja.

Oyedele emphasised the need to strike a balance between easing the tax burden for lower-income earners and ensuring the wealthy contribute more to government revenue.

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“If you earn N100m a month, we are taking up to 25 per cent from the rich people. That’s because we need to balance the books,” Oyedele stated.

The fiscal policy expert said the government is prepared and determined to ensure that the right individuals pay taxes, noting that his committee is actively working to achieve the goal.

He added that the proposed changes are expected to take effect from January 2025, based on the passage of the bill by lawmakers.

For middle-income earners making N1.5m or less per month, Oyedele disclosed that their personal income tax obligations would decrease while those earning higher amounts would see incremental increases in their tax rates, eventually reaching 25 percent. Lower-income earners would be fully exempt from personal income tax.

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The reforms also aim to ease the tax burden on businesses.

Oyedele noted: “Today, whatever VAT you (businesses) pay on assets—whether you’re building a factory, buying a laptop, or vehicles—you bear it. This increases your cost, and therefore, your pricing will go up. Once our reforms are implemented, you get the credit back 100 percent on services and assets.”

“People will pay tax once we decide that they have to pay. What we realize is that almost 90 per cent of people who are paying taxes are those who should not have been paying in the first place,” he said.

“So that’s where we came up with the data that 97 per cent of the informal sector should be formally exempted from taxes. People do not understand where we are coming from. They’re not the ones to pay taxes. They’re just trying to survive.”

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Regarding how his committee is working to ensure the right individuals pay taxes, Oyedele said the team would utilise primary data identification channels to accurately bring the appropriate group of taxpayers into the tax bracket.

Additionally, the corporate income tax rate is set to drop from 30 per cent to 25 per cent which Oyedele described as “huge” for businesses. Other significant tax adjustments include a reduction or elimination of VAT on essential goods and services such as food, health, education, accommodation, and transportation.

These essential services make up a large portion of household expenditure for the lower-income population, and the proposed reforms aim to lessen their financial burden.

However, Oyedele acknowledged that not all sectors would benefit from reduced tax rates. For other goods and services, the VAT rate would increase to ensure the government’s revenue book balance.

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He also pointed out that inflation had already acted as a “disorderly” tax on the population, eroding the value of their money without the need for legislation.

In addressing concerns over tax incentives and waivers, Oyedele argued that indiscriminate incentives harm the economy and that removing unnecessary incentives could relieve the business sector without costing the government revenue.

“We cannot give all the incentives you are asking for. We think the biggest low-hanging fruit is removing these incentives, and that’s exactly what we are doing,” Oyedele concluded.

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Just in: INEC dumps recall petition against Sen Natasha

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The Independent National Electoral Commission,( INEC) has rejected the petition to recall the Senator representing Kogi Central, Natasha Akpoti-Uduaghan, inadequate.

The electoral umpire via its 𝕏 handle on Thursday, April 3, 2025, made this known in a terse statement where it disclosed that the group, who initiated the process did not meet the requirements of the constitution.

INEC in a tweet on its ‘X’ handle said; “The petition for the recall of the Senator representing the Kogi Central Senatorial District has not met the requirement of Section 69(a) of the Constitution of the Federal Republic of Nigeria 1999 (as amended)”.

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US cancels ex- president ,Nobel Peace Prize winner Oscar Arias visa

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A former president of Costa Rica, Oscar Arias, says his US visa has been revoked.

Arias, a Nobel laureate, said he was informed of the decision weeks after he had publicly criticised Donald Trump, comparing the behaviour of the US president to that of a Roman emperor.

The 84-year-old, who was awarded the Nobel Peace Prize for his role in brokering an end to conflicts in Central America, said US authorities had given no explanation.

Arias hinted, however, that it may be due to his rapprochement with China during the time he was president from 2006 to 2010.

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Speaking at a news conference in the Costa Rican capital, San José, Arias said he had “no idea” what the reason for the cancellation was.

He said he had received a “terse” email “of a few lines” from the US government informing him of the decision.

He added that he thought that it was not President Trump but the US State Department, which had taken the decision.

While he said it would be conjecture on his part to speculate about the reason behind the visa revocation, he did point out that “I established diplomatic relations with China.

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“That, of course, is known throughout the world,” he told journalists of his 2007 decision to cut ties with Taiwan and establish them with China instead.

The Trump administration has sought to oppose China’s influence in the Western hemisphere and has accused a number of Central American governments of cosying up to the Chinese government and Chinese companies.

However, it has been supportive of the current Costa Rican President, Rodrigo Chaves, praising his decision to exclude Chinese firms from participating in the development of 5G in Costa Rica.

But this perceived closeness between President Chaves and the US was criticised by Arias, who wrote a post on social media in February saying that “it has never been easy for a small country to disagree with the US government, less so when its president behaves like a Roman emperor, telling the rest of the world what to do”.

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He added that “during my governments, Costa Rica never received orders from Washington as if we were a banana republic.”

Arias is not the only Costa Rican to have had his US visa revoked. Three members of the country’s national assembly who opposed President Chaves’s decree to exclude Chinese companies from participating in the development of 5G have also had theirs cancelled. [BBC]

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Natasha: Kogi PDP hammers Ododo, reiterates unfeigned support for her

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…says state govt’s attempts to silence opposition won’t stand

…calls on IGP to immediately release detained members

Following the desperate, despicable and perfidious attempts by the Kogi state Government to gag, and hound opposition parties through the restrictions on rallies, convoy movements, and similar solidarity activities across the state, Kogi state chapter of the Peoples Democratic Party, (PDP) has roundly criticized, and totally condemned such moves.

Arising from the state Exco meeting, held Tuesday, April 1st, 2025, the PDP, having done proper analysis of the situation, believes that the move is targeted at Senator Natasha Akpoti-Uduaghan.

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This was contained in a statement signed by Alhaji Umoru Tijani Aruwa State Publicity Secretary
Peoples Democratic Party, (PDP) further declaring that:

“Obviously afraid of our highly performing, and resourceful Senator, the state government had to resort to jittery, fearful, and incongrous instructions which are glaring infringement on her fundamental rights to freedom of movement and association.

“The undemocratic actions which have the tone, tenor, and texture of autocratism and despotism was clearly targeted at preventing Kogi state’s (and Nigeria’s) legislative amazon from meeting her constituents who organized the home-coming for her.

“It is highly shameful, preposterous, and cynical that the state government in their failed attempt to silence Akpoti-Uduaghan, effected the arrest of some officials and key personalities of our party in Kogi Central District; days before the event. From reports, many party faithful across the five LGAs that make up the District suffered varied degrees of harassment, intimidation, and coercion. Indeed, there were inglorious, and shameless attempts by alleged agents of the state government to induce some of our party members. But, all these desperate moves failed, comprehensively!

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“Happily, all these tongue-follery attempts, ludicrous activities, and wanton shenanigans failed woefully; as the constituents and supporters, across all political parties thronged out in their numbers to solidarize and re-enact their support for Akpoti-Uduaghan.

” The visit, has once again shown that the people of Kogi Central District are not only with but also identify with her despite attempts to silence her progressive and patriotic voice by few, privileged individuals in the Senate, and collaborators in Kogi state.

“Given the outpouring of love, commendation, and eulogies extended by the people to Akpoti-Uduaghan at the event, irrespective of the numerous bobby-traps and devilish bottlenecks orchestrated by the APC government in Kogi, it clearly shows that the constituents are at home with their daughter. That the tumultuous gathering, which was organic defied all man-made encumbrances to proudly identify with her, and pass resounding confidence-vote on Akpoti-Uduaghan has rubbished every earlier plans by the Kogi state government to put forward wrong narratives about the Senatorial District.

“While we strongly urge the state government to allow the freedom of speech, movement, and association to fully thrive; without let or hate amongst the people of Kogi, we appeal that every dictatorial actions, and totalitarian tendencies that are capable of truncating democratic ethos must be put away by the present administration in the state.

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“As a party, the Kogi state PDP chapter, declares unequivocal support, and stands; firmly without reservations with Senator Akpoti-Uduaghan. We also reiterate that the good people of Kogi state will continue to show utmost solidarity with her, as she forges ahead in her fight against abuse, harassment, intimidation, and segregation.

“The PDP commend the courage, doggedness, and sacrifices of the people of Kogi Central District who defied all odds to attend the home-coming event, and have also remained consistent and resolute in their respective and collective support for Akpoti-Uduaghan. Be assured that we have resolved; as always to stand with you, all.

“Finally, we call on the Inspector-General of Police, the leadership of all relevant security agencies to ensure the immediate release of all our party members that were unlawfully arrested under nebulous, and spurious guises by the state government.

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