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Tinubu declares no going back on tax reforms
President Bola Tinubu has kicked against the recommendation of the National Economic Council (NEC) to withdraw the tax reform bills generating controversy.
The Northern Governors’ Forum had opposed the bills, saying they were against the interest of the region.
After its meeting on Thursday, NEC recommended that the bills should be withdrawn for more consultation.
But responding in a statement which Bayo Onanuga, his media aide issue on his behalf on Friday, Tinubu asked NEC to allow the process run its full course.
“President Bola Tinubu has received the National Economic Council’s recommendation that the tax reform bills already sent to the National Assembly be withdrawn for further consultation.”
“President Tinubu commends the National Economic Council members, especially Vice President Kashim Shettima and the 36 State Governors, for their advice. He believes that the legislative process, which has already begun, provides an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly.
“While urging the NEC to allow the process to take its full course, President Tinubu welcomes further consultations and engagement with key stakeholders to address any reservations about the bills while the National Assembly considers them for passage.”
The president said further imputes could be made during public hearings at parliament, explaining that the tax committee which put up the proposal consulted widely.
“When President Tinubu set up the Presidential Committee on Tax and Fiscal Policy Reform in August 2023, he had only one objective: to reposition the economy for better productivity and efficiency and make the operating environment for investment and businesses more conducive. This objective remains more critical even today than ever before.
“The Committee worked for over a year and received inputs from various segments of society across the geopolitical zones, including trade associations, professional bodies, different Ministries and Government Agencies, Governors, traders, students, business owners, and the organised private sector.
“The tax reform bills that emerged were distilled from the extensive work of the Presidential Committee.
“The tax bills before the National Assembly aim to streamline Nigeria’s tax administration processes, completely overhaul the nation’s tax operations, and align them with global best practices.
News
Filling stations set to adjust pump price as petrol crashes by over N300
Nigerians to enjoy slightly lower prices for petrol following a crash in the landing cost of petroleum products.
From all indications based on the data from major marketers, including the Nigerian National Petroleum Company Limited (NNPCL) that landing cost crashed to ₦935.94 per litre from its last reported price of ₦977.
By implication, filling stations across the country are also expected to reduce the price per litre of petrol for sale to members of the public.
MEMAN in its report published on Tuesday, gave the ex-depot price for Lagos at ₦1,029 per litre for petrol, ₦1,120 per litre for diesel, ₦1,040 per litre for aviation fuel and ₦1,125 per litre for LPG.
The report put the price for Compressed Natural Gas (CNG) at between ₦230 per scm and ₦450.
Recent exchange rate stability is said to be responsible for the slight crash recorded in landing costs of petroleum products in Nigeria.
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Bill On 6 Years Single Term, Rotational Presidency/Governorship To Be Introduced – Rep Ugochinyere
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Trump Announces Pam Bondi For Attorney General after Rep Gaetz Withdrawal
After Republican Rep. Matt Gaetz of Florida abandoned his quest for U.S. attorney general, President-elect Donald Trump wasted no time in choosing another candidate for the position.
On Thursday evening, Trump announced his decision on social media.
“I am proud to announce former Attorney General of the Great State of Florida, Pam Bondi, as our next Attorney General of the United States,” he posted on Twitter. “Pam was a prosecutor for nearly 20 years, where she was very tough on Violent Criminals, and made the streets safe for Florida Families,” according to him.
“Then, as Florida’s first female Attorney General, she worked to stop the trafficking of deadly drugs and reduce the tragedy of Fentanyl overdose deaths.”
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