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

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…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.

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Proposal for creation of 31 states demands critical examination, outright condemnation -DG, CCLCA, Dr Nwambu

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…says zoning arrangements clearly favoured a section of Nigeria

By Emmanuel Agaji

The Director General of Centre for Credible Leadership and Citizens Awareness, CCLCA Dr Gabriel Nwambu has called for critical examination and outright condemnation of the move to create 31 additional states in Nigeria.

Dr Nwambu disclosed on Friday in a position paper entitled: ‘Position Paper: Condemnation of the Proposal for New State Creation in Nigeria’ declaring that:

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“The recent proposals for the creation of 31 new states by the House of Representatives Committee warrant critical examination and, ultimately, outright condemnation.

“As Nigeria navigates through significant economic challenges, it is essential we approach governance reforms with an understanding of current realities.

“It is clear that the creation of additional states is not a viable solution to our nation’s pressing issues and, in fact, could exacerbate the situations we are working hard to overcome.

Current Viability of Existing States

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“As it stands, Nigeria is currently composed of 36 states, including the Federal Capital Territory. A disconcerting number of these states are not financially viable. Many states are unable to meet basic obligations, such as paying the minimum wage of ₦70,000.

He explained that: “The crux of the matter is that some states have reached a point of insolvency, making the idea of creating new states—a process that demands additional financial resources—even more untenable.

” Rather than resolving existing state-level inefficiencies, the introduction of new states would only compound financial burdens on an already strained federation.

Zoning and Geopolitical Implications

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“The proposed new states raise critical concerns regarding zoning and geopolitical distribution, particularly highlighting an imbalance favoring northern regions.

“The potential increase in Local Government Areas in the North signifies not just a concentration of political resources but also increased financial allocations to that region. This further marginalizes regions like the South East, where the new proposals result in fewer states. Such an approach fails to foster national cohesion and equity among the disparate regions of Nigeria, risking further discord rather than unity.

Cost of Governance Concerns

“The timing of these proposals is troubling, especially as we engage in discussions aimed at reducing the cost of governance in Nigeria.

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” The addition of 31 new states would inherently lead to an increase in legislative assemblies, senators, and representatives, thereby inflating the political structure rather than streamlining it. Rather than focusing on mechanisms to enhance governance efficiency, we would instead be entrenching a model that is financially unsustainable.

Imminent National Challenges

“Moreover, the pressing issues that Nigeria faces—ranging from rampant insecurity, widespread unemployment, inadequate healthcare, and dwindling infrastructure—demand our immediate attention and resources. At this pivotal moment, the creation of new states distracts from tackling these fundamental concerns.

” It is crucial to consider how we can strengthen existing governance structures, enhance service delivery, and ensure that government revenues transparently address the needs of our citizens, rather than atrophying under the weight of new state establishments.

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Conclusion

“In conclusion, the Centre for Credible Leadership and Citizens Awareness strongly condemns any proposals for the creation of new states in Nigeria.

“Such actions would not only worsen our current economic quagmire but would also lead to heightened regional disparities, escalating governance costs, and distract from the critical reforms and policies necessary to improve the lives of Nigerians across the country.

“We urge policymakers, opinion leaders, and the general public to prioritize pressing developmental needs over cosmetic political restructuring.

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“The focus should remain on enhancing the efficiency and viability of existing states, tackling economic challenges head-on, and fostering true national unity. The call for new states is neither a panacea for our problems nor a justifiable use of national resources at this time.

“Thank you for considering this position paper. We hope it contributes to the necessary dialogue surrounding the governance challenges we face in Nigeria.

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BREAKING ! IGP Egbetokun sacks 197 officers for bypassing regulations, forgery

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The Nigerian Inspector General of Police Kayode Egbetokun has ordered the immediate retirement of senior police officers who are either over 60 years old or have served for more than 35 years.

These include Simon Lough, SAN, the Head of the NPF Legal Section and Benneth Igweh, a former Federal Capital Territory Police Commissioner.

These police officers have been implicated in forgery, falsification, and bypassing service regulations.

The directive is disclosed in a letter dated February 1, 2025, signed by CP Bode Akinbamilowo, Deputy Force Secretary, on behalf of the Inspector General of Police, and addressed to the Deputy Inspectors-General of Police, Assistant Inspectors General of Police, Commandants of Police Staff Colleges at Jos and Kano, Commissioners of Police and Commandants of Police Colleges across the country.

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The letter is titled ‘Re: Police Service Commission Decision At Its 1stt Extra Ordinary Meeting Of The 6thh Management Board On The Regularisation Of Date Of First Appointment Of Cadet ASPs/Inspectors Force Entrants.’

It reads, “Attached letter No. CH: 8400.IGP.SEC/ABJ/VOL.17/90 dates 31st January, 2025 with its attachments received from the Inspector General of Police, Force Headquarters Abuja in respect of the above underlined subject refers.

“I am to convey the directive of the Inspector General of Police that you ensure comprehensive implementation of the decision with emphasis on paragraphs 3 and 4 of the attachment letter under reference.”

The decision of the PSC refereed to in the letter was earlier communicated to the IGP in a letter dated January 31, 2025 and signed by Nnamani Onyemuche, Secretary to the PSC.

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Paragraphs 3 and 4 to be given emphasis read: “Accordingly, the Commission at its 1st extraordinary meeting of the 6th Management Board held on Friday 31st January 2025 has approved the immediate retirement of those officers who have spent 35 years in service and those above 60 years of age.

“Any omission discovered subsequently on this issue also falls within this approval.”

Paragraph 5 reads: Please implement, inform the affected officers and make replacement for the vacancies thereafter immediately and forward to the commission for its consideration and approval.”

On the list of those who should have retired but still in service going by their dates of enlistment are: Simon Asamber Lough who should have retired on January 8, 2022 going by his date of enlistment.

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Others listed include Benneth Chinedu Igweh (January 5, 2023), Akinbayo Olasukami Olasoji, Louis Chike Nwabuwa, Mukar Sule, Adamu Danjuma, Ajao Olusegun, and Iriemi Solomon.

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Just in: Trump launches first US sovereign wealth fund

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U.S. President Donald Trump signed an executive order ordering the creation of a sovereign wealth fund within the next year, saying it could potentially buy the short video app TikTok.

If created, the sovereign wealth fund could place the U.S. alongside numerous other countries, particularly in the Middle East and Asia, that have launched similar funds as a way to make direct investments with government dollars.

The text of the executive order was sparse on details, and simply directed the Treasury and Commerce Departments to submit a plan for such a fund within 90 days, including recommendations on “funding mechanisms, investment strategies, fund structure, and a governance model.”

Typically such funds rely on a country’s budget surplus to make investments, but the U.S. operates at a deficit. Its creation also would likely require approval from Congress.

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“We’re going to create a lot of wealth for the fund,” Trump told reporters. “And I think it’s about time that this country had a sovereign wealth fund.”

Trump had previously floated such a government investment vehicle as a presidential candidate, saying it could fund “great national endeavors” like infrastructure projects such as highways and airports, manufacturing, and medical research.

Administration officials did not say how the fund would operate or be financed, but Trump has previously said it could be funded by “tariffs and other intelligent things.”

Treasury Secretary Scott Bessent told reporters the fund would be set up within the next 12 months.

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“We’re going to monetize the asset side of the U.S. balance sheet for the American people,” Bessent said. “There’ll be a combination of liquid assets, assets that we have in this country as we work to bring them out for the American people.”

One approach would be to convert the U.S. International Development Finance Corp (DFC) to function similar to a sovereign wealth fund, which the Trump administration reportedly considered in recent months, Bloomberg News reported. The DFC is a government agency that currently partners with private parties to finance projects in the developing world.

Trump announced Friday he was nominating Benjamin Black to head that development agency. Black, a managing partner at investment firm Fortinbras Enterprises, is the son of Leon Black, the co-founder of asset management firm Apollo Global Management.

The Biden administration also was considering establishing such a fund prior to Trump’s election in November, according to The New York Times and Financial Times.

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But precisely how such a fund would be structured, and funded, remained unclear. Several experts said Congress would likely need to authorize new funding given the lack of an existing surplus to tap. The order directed officials to review any need for legislation.

Clemence Landers, a former Treasury official who is now with the Center for Global Development, said there has been talk of repurposing the DFC but setting up such a fund would require Congress.

“Obviously you can’t establish an institution by executive order and more to the point is you can’t fund an institution by executive order,” she said.

Investors said the news came as a surprise.
“Creating a sovereign wealth fund suggests that a country has savings that will go up and can be allocated to this,” said Colin Graham, head of multi-asset strategies at Robeco in London. “The economic rules of thumb don’t add up.”

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There are over 90 such funds across the world managing over $8 trillion in assets, according to the International Forum of Sovereign Wealth Funds.

Numerous U.S. states, including Alaska, Texas and New Mexico also have their own wealth funds, which help fund various priorities, including education and tax relief. They frequently rely on revenue raised by natural resources, like oil or land.

In another surprise twist, Trump suggested the wealth fund could buy TikTok, whose fate has been up in the air since a law requiring its Chinese owner ByteDance to either sell it on national security grounds or face a ban took effect on Jan. 19.

Trump, after taking office on Jan. 20, signed an executive order seeking to delay by 75 days the enforcement of the law.

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Trump has said that he was in talks with multiple people over TikTok’s purchase and would likely have a decision on the app’s future in February. The popular app has about 170 million American users.

“We’re going to be doing something, perhaps with TikTok, and perhaps not,” Trump said. “If we make the right deal, we’ll do it. Otherwise, we won’t…we might put that in the sovereign wealth fund.”

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