Connect with us

News

Tax Reform Bills: Our Goal is to Boost Revenue and Encourage Investments — Deputy Speaker

Published

on

…as he says IPOB leader, Kanu subscribing to peace
By Gloria Ikibah
Deputy Speaker of the House of Representatives, Rep. Benjamin Kalu has said that the major aim of the tax reform bills is to raise the revenue profile of the country and support locally and internationally investments.
Kalu who shared his perspective during a meeting on UK -Nigeria Strategic Dialogue with the Deputy Leader, House of Lords and United Kingdom Minister of African Affairs, Rt. Hon. Lord Collins of Highbury on Wednesday in London, said the existing tax laws are obsolete and needed to be twerked and streamlined in line with the global best practices and standards.
Naijablitznews.com recalled that the National Assembly is currently considering four tax bills aimed at reforming the fiscal climate for which the federal government is engaging the stakeholders to get their input.
The bills included the Nigeria Revenue Service (Establishment) Bill, Nigeria Tax Bill, Nigeria Tax Administration Bill, and Joint Revenue Board (Establishment) Bill.
Kalu said that Nigeria is the right destination for investments and called on the UK business and the international community as a whole to increase their investment ratio in the country.
He said: “Our tax laws have been
obsolete. So, what we are trying to do now is to streamline them in line with global best practices.
“The aim is to drive revenue and also support some of the investors who have irregular tax laws affecting their revenue, streamlining them to know what they are paying for. Not multiple taxation on the same issues.”

The Deputy Speaker highlighted the legislative agenda of the 10th House, abd said that the Parliament has prioritized national security, law reforms, economic growth and development, social sector reforms and development, inclusion and open parliament, foreign policy, climate change and environmental sustainability for improvement.
Kalu who is also the Chairman of the House Committee on Constitution Review explained that certain key areas of reform has also been outlined in the Constitution review process.
According to him, these included increased women participation in politics with creation of special seats to increase the number of women in Nigeria’s National and State Houses of Assembly; local government reforms to improve the autonomy of local government councils and their ability to deliver on development; state policing to address localized security challenges in Nigeria; improved human rights to strengthen Nigeria’s compliance with international human rights standards by empowering relevant Committees of the House to exercise more oversight of the Police and our security services; supporting reforms to improve the judiciary and enable them to perform better.
Others, he said, are constitutional and electoral reforms through modernization of the electoral framework to ensue free, fair, and transparent elections, constitutional amendments to address systemic inefficiencies and promote good governance and pursuing more engagement with the civil society and stakeholders to build consensus on critical reform issues.
Deputy Speaker who expressed gratitude to the UK government and Foreign, Commonwealth & Development Office (FCDO) for support to the parliament for relevant institutional development programs, training workshops and consultative sessions to better equipp the legislators also requested for expanded support on capacity building, expansion of public engagement mechanisms to strengthen transparency and accountability, security collaboration, human rights advocacy, support for electoral reforms to provide expertise and resources to enhance Nigeria’s electoral processes and ensure credible elections and parliamentary exchanges for Nigerian parliamentarians with the UK parliament.
He also said that the strategic partnership between both countries will ensure continued growth and jobs creation, enhanced national security, migration, justice and home affairs, technology, automobile manufacturing, healthcare, agriculture and food security.
“UK could do more with Nigeria  knowing our history with the UK. Increase the frequency of trade missions to Nigeria like other nations because various opportunities are there beyond oil and gas; Green metals, etc”, he said.
Kalu also explained some of the policies of the President Tinubu administration especially in economic reforms including the removal of fuel subsidy, the intervention in the foreign exchange market, new regional development commissions, tax reforms, student loan, credit scheme and efforts to diversify the Nigerian economy from dependence on fossil fuels, climate change concerns, saying that the parliament is in support.
Beyond law making, the Deputy Speaker also hinted to his hosts his intervention in the security circles especially in the South East to arrest the escalating insecurity situation.
He said: “I adopted the non kinetic model in the south east Nigeria where civil war left marks that birthed conflicts and agitations which the barrels of gun over the years in form of military intervention failed to heal. Peace In South East Project- PISE-P became the new platforms for intervention”.
Responding to Lord Collins who intoned that “I think your approach is a correct one. The focus on peace,  progress,  is key. What you’re advocating is absolutely right”, Kalu said that the intervention was necessary to help to restore peace in the South East.
He said that the Leader of the Indigenous People’s of Biafra (IPOB), Mazi Nnamdi Kanu has also subscribed to peace.
“In order to achieve the peace we are looking for in that south eastern region, we have to bring Nnamdi Kanu out of incarceration because a lot of criminals are leveraging his incarceration as a reason to commit various henious crimes and we cannot continue to allow that.
“While he is in court, what some of us have done has been to look for a political approach towards the resolution of the problem by appealing to Mr. President because you can’t coarse the President, you can’t force him. We want to use that approach to achieve peace in that area and the President that we have is a listening President. He is not averse to it.
“He’s opening up lines for conversations. And we are doing the conversation and he is watching and getting advice on how to go about it. I am actually one of those who approached him for his release. I am from the region and I know what that would do for my region. And I have visited him. And I asked him do you still want to continue with the agitations. That was before the President signed into the South East Development Commission (SEDC) and he, if the President signs it, it means he’s favorably disposed to rebuilding the south east that went through war and that’s the Biafra I am for. The Biafra I am looking for is good roads, hospitals, schools for our people. That’s it. The Biafra I am looking for is not to be President or take a State. It’s for that place to be rebuilt.
“Now that the President has signed it, if he comes out, he will join my peace advocacy which is Peace In South East Project (PISE-P), that he will be a Peace Ambassador, project peace and all those who are using his name to name to commit crime because there will be no excuse again”, he said.
In a similar meeting with the Commonwealth Parliamentary Association (CPA) led by Hon. Kate Osamor at Westminster on the sidelines.of the UK-Nigeria Strategic Dialogue, Kalu also urged  UK Parliament to continue supporting the advancement of democracy in Nigeria.
Welcoming Kalu and his team of lawmakers from Nigeria to Westminster, Osamor who traced her roots to Nigeria assured that the United Kingdom remained a strategic partner to Nigeria on a number of fronts.
Osamor commended President Bola Ahmed Tinubu for the establishment of the South East Development Commission noting that her familiarity with the post-civil war challenges of Nigeria gives her the confidence that the Commission was a great catalyst towards fostering greater integration in the South East region.
The British MP informed the Deputy Speaker of the CPA’s intension to visit Nigeria in March, 2025 for continued dialogue with various stakeholders on significant parliamentary issues.
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Saudi Arabia donates 100 tonnes of dates to Nigeria as fasting approaches

Published

on

By Kayode Sanni-Arewa

The Embassy of the Kingdom of Saudi Arabia in Abuja has held an official ceremony to distribute 100 tonnes (100,000kg) of dates to Nigeria as part of its annual humanitarian relief efforts.

The initiative, facilitated by the King Salman Humanitarian Aid and Relief Centre (KSrelief), aims to support vulnerable families across the country and strengthen the deep-rooted ties between the two nations.

During the ceremony, the Ambassador of the Custodian of the Two Holy Mosques to Nigeria, Faisal bin Ibrahim, conveyed the Kingdom’s dedication to humanitarian causes.

Advertisement

He expressed his profound gratitude to King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman for their unwavering support in providing aid to Muslims and underserved communities worldwide.

He emphasised that Saudi Arabia remains steadfast in its commitment to fostering Islamic solidarity and providing relief to those in need.

Mr Al-Ghamdi explained that this year’s distribution includes 50 tonnes of dates for Abuja and another 50 tonnes for Kano, continuing Saudi Arabia’s tradition of assisting Nigeria through humanitarian donations.

He noted that the initiative represents the Kingdom’s broader mission to uplift Muslim communities, alleviate suffering, and promote unity, particularly during significant religious periods such as Ramadan.

Advertisement

The embassy, in collaboration with local authorities and humanitarian organisations, will ensure the proper distribution of the dates so that they reach the most vulnerable families in various regions of Nigeria

Saudi Arabia has been a longstanding partner in providing humanitarian aid to nations across the globe, including Nigeria. The Kingdom’s continued efforts in supporting food security and welfare initiatives exemplify its role as a global leader in charitable and humanitarian endeavours.

Through Vision 2030, Saudi Arabia seeks to expand its contributions to international humanitarian causes, reinforcing its dedication to fostering peace, stability, and prosperity worldwide. The ongoing provision of aid to Nigeria is a testament to these commitments and highlights the decades-long partnership between the two brotherly nations.

Advertisement
Continue Reading

News

Babangida’s Book is filled with distorted facts, collection of lies, says Dele Farotimi

Published

on

By Kayode Sanni-Arewa

Dele Farotimi, a human rights lawyer, has launched a heavy attack on former dictator Gen. Ibrahim Babangida (retd.), describing his reign as “ruinous”.

Farotimi, who lived through Babangida’s rule, recounted his experiences as a participant in the fight against the former leader’s “evil actions and inactions

Farotimi’s comments come after Babangida’s recent admission that Chief M.K.O. Abiola won the 1993 presidential election, which Babangida annulled.

Advertisement

The human rights lawyer expressed his disappointment, but not surprise, at the “mixed bag of lies, half-truths, urban legends, and obfuscations” in Babangida’s recent statements.

Farotimi’s criticism is not isolated, as many Nigerians have questioned Babangida’s legacy and the lack of consequences for his actions. The annulment of the 1993 election led to widespread protests and a prolonged struggle for democracy in Nigeria.

In a statement, Farotimi concluded, “No hagiographic allocutus can redeem the Evil Genius of Minna”.

The statement was shared on X while he was reacting to a comment made by Adnan Abdullahi Adam, which stated that “it’s better to read every side of exposition before forming your own judgement”.

Advertisement

With the cover picture of the IBB’s memoir “A Journey In Service” @realadnantweet wrote:

“I think IBB’s memoir: “A Journey in Service” exposes a fresh perspective on everything.

“It’s better to read every side of exposition before forming your own judgement.

“Everyone should try reading the book as jury to the plea of the accused.”

Advertisement

Responding Farotimi wrote: “I lived through his ruinous reign. I wasn’t a passive victim of his evil actions and inactions, I was a participant in the fight to be freed of him.

“I am painfully aware of the extent of his evil capabilities, and I have not been disappointed by the mixed bag of lies, half truths, urban legends, and obfuscations contained in the excerpts already in the public domain. No hagiographic allocutus can redeem the Evil Genius of Minna.”

On Thursday, February 20, 2025, former Nigerian military ruler General Ibrahim Badamasi Babangida (IBB) released his long-anticipated autobiography, “A Journey in Service.”

The memoir has ignited a firestorm of controversy, with critics accusing Babangida of distorting historical events and maligning deceased individuals who cannot defend themselves.

Advertisement

This development has reopened debates about his tenure and its lasting impact on Nigeria’s political and economic landscape.

Babangida’s tenure from 1985 to 1993 was marked by the implementation of the Structural Adjustment Programme (SAP), among others. In “A Journey in Service,” he provides an insider’s perspective on the adoption of SAP, aiming to offer context for the controversial policy that aimed to liberalize Nigeria’s economy.

While intended to address economic challenges, SAP led to widespread protests and debates due to its harsh austerity measures and the social hardships it imposed.

Critics, however, contend that Babangida’s memoir serves as a self-exoneration tool, selectively presenting events to absolve himself of blame.

Advertisement

Human rights lawyer and former Chairman of the Nigerian Human Rights Commission, Prof. Chidi Odinkalu, described the book as a “pack of lies,” accusing Babangida of making allegations against deceased individuals who cannot contest his claims.

Odinkalu further criticized Babangida for portraying himself as a victim of circumstances orchestrated by those who are no longer alive to defend themselves.

The memoir has also rekindled discussions about Babangida’s annulment of the June 12, 1993, presidential election, widely regarded as one of Nigeria’s freest and fairest elections. In the book, Babangida attempts to justify the annulment, a move that plunged the nation into political turmoil and prolonged military rule. Many Nigerians view this action as a significant setback to the country’s democratic progress.

Advertisement
Continue Reading

News

Saudi Arabia plans to invest $600bn in new US trade over 4 years

Published

on

By Kayode Sanni-Arewa

Saudi Arabian Crown Prince Mohammed bin Salman told President Donald Trump that the kingdom wants to put $600 billion into expanded investment and trade with the United States over the next four years, the Saudi State news agency said early on Thursday.
In a phone call between the two leaders, the crown prince said the Trump administration’s expected reforms could create “unprecedented economic prosperity”, the state news agency reported.

The report said Saudi Arabia wants its investments to capitalize on these conditions. It did not detail the source of the $600 billion, whether it would be public or private spending nor how the money would be deployed.
The investment “could increase further if additional opportunities arise”, the agency quoted Bin Salman as telling Trump.
Trump fostered close ties with Gulf states including Saudi Arabia during his first term. The country invested $2 billion in a firm formed by Jared Kushner, Trump’s son-in-law and former aide, after Trump left office.

Trump said following his inauguration on Monday that he would consider making Saudi Arabia his first destination for a foreign visit if Riyadh agreed to buy $500 billion worth of American products, similar to what he did in his first term.
“I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our product. I said I’ll do it but you have to buy American product, and they agreed to do that,” Trump said, referring to his 2017 visit to the Gulf kingdom.
The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.
Reporting by Hatem Maher; Editing by Leslie Adler and Cynthia Osterman

Advertisement
Continue Reading

Trending

Copyright © 2024 Naija Blitz News