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Tax Reform: Speaker Abbas Assure Youths Will Be Considered

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By Gloria Ikibah
Speaker of the House of Representatives, Rep. Tajudeen Abbas has assured the various youth groups that their input will be factored in the review of the proposals ahead of their passage of the Tax Reform Bills by the parliament.
Speaker Abbas who was represented by Rep. Leke Abejide (ADC, Kogi), stated this at the National Youth Dialogue on Tax Reform Bills on Monday in Abuja.
According to him, the Tax Reform Bills is a catalysts of economic growth and national progress.
“These bills will prepare the country to be economically viable, technologically independent of other nations,” he said.
In his welcome address, Chairman House Committee on Youths in Parliament, Rep. Ayodeji Alao-Akala said the review of the nation’s tax laws has become necessary to address contemporary challenges in fiscal policies.
Chairman noted that young people, particularly those engaged in micro, small, and medium enterprises (MSMEs), are among the most affected by taxation policies.
Naijablitznews.com recalled that last week, the Senate and House of Representatives held public hearing on the Tax Reform Bills transmitted to the parliament in October 2024 and pledged their readiness to review the proposed legislation in the country’s interest.
He said: “If we get it right with the youth, we get it right with the country, Iurge young Nigerians to contribute meaningful ideas to the bill”
Rep. Alao-Akala sad that most low-income earners in Nigeria are youths, struggling to start businesses, rent homes, or make financial progress.
According to him the proposed tax reforms aim to ease this burden by ensuring fairer policies that support entrepreneurship and economic independence.
The Chairman insisted that delaying reform any further would be detrimental, emphasizing that “tomorrow never comes; the time to act is now.”
Similarly cross section of youth groups at the Public hearing, backed the tax reform bills currently under consideration by both chambers of the National Assembly.
One of the Groups, Alumni Association of the Legislative Mentorship Initiative commended the Federal Government proposals, saying that if implemented, the reforms are capable of changing the nation’s economic narrative.
“This proposed legislation is not merely a collection of fiscal policies; it is a blueprint that will shape the economic trajectory of our nation and more importantly, directly impact the lives of our youth, who largely represent the present and future of Nigeria,” representative of the association, Abubakar Tijani said.
He called for a balanced exchange of views, adding that as good as the bills were, there were areas of uncertainty that needed some clarity for the benefit of Nigerians.
“As we engage in this critical discourse, we must approach the subject with a balanced perspective, acknowledging the bill’s potential benefits while also addressing its areas of concern. Our collective goal must be to ensure that this legislation fosters inclusive growth, empowers our citizens, and lays a solid foundation for sustainable development,” Tijani added.
He listed the positives of the tax reform proposals to include company income tax reduction, support for small businesses, personal income tax relief and VAT exemptions on essential goods and services, among others.
“One of the most notable features of the bill is the proposed reduction in the Company Income Tax rate. The current rate of 30 per cent is set to decrease to 27.5 per cent in 2025, with a further reduction to 25 per cent by 2026. This measure is designed to stimulate business growth, enhance corporate profitability, and attract both domestic and foreign investments.
“By lowering the tax burden on companies, the government aims to encourage reinvestment, innovation, and job creation, all of which are critical for economic expansion. For the youth, this could translate into increased employment opportunities and a more vibrant private sector.
“The bill also introduces a significant exemption for small businesses with an annual turnover of ₦50m or less. These enterprises will no longer be required to pay income tax, a move that alleviates financial pressures on small-scale entrepreneurs and fosters a culture of entrepreneurship.
“Another laudable aspect of the bill is the exemption of workers earning ₦800,000 annually or less from personal income tax. This measure provides much-needed relief to low-income earners, many of whom are young professionals just starting their careers.
By increasing disposable income, the government is not only improving the standard of living for these individuals but also stimulating consumer spending, which is a key driver of economic activity,” he added.
That said, Tijani pointed out grey areas which require legislative intervention given the nation’s fragile economy.
“The bill proposes a gradual increase in the VAT rate, starting from the current 7.5 per cent to 10 per cent in 2025, 12.5 per cent in 2026, and 15 per cent by 2030. While this measure is intended to boost government revenue, it could have adverse effects on consumers.
“An increase in VAT often leads to higher prices for goods and services, which could erode purchasing power and exacerbate inflationary pressures. For the youth, who are already grappling with high unemployment rates, this could further strain their financial circumstances. It is essential to consider the broader implications of this policy on the cost of living and economic stability.
“Another concerning provision is the plan to cease funding for critical agencies such as the Tertiary Education Trust Fund, National Agency for Science and Engineering Infrastructure, National Information Technology Development Agency by 2030.
“These agencies play a pivotal role in advancing education, technology, and innovation, sectors that are indispensable for youth development and national progress. TETFUND, for instance, has been instrumental in improving infrastructure and quality in tertiary institutions, while NASENI and NITDA have driven technological innovation and digital transformation. Cutting funding to these agencies could hinder their ability to deliver on their mandates, thereby hindering progress in areas that are crucial for the youth and the nation’s future.
“The bill also proposes imposing taxes on businesses operating in Free Trade Zones. These zones have historically enjoyed tax exemptions as an incentive to attract investments and stimulate economic activity. By introducing taxes, the government risks deterring investors and undermining the competitiveness of these zones.
“This could lead to reduced economic activity, job losses, and a decline in foreign direct investment. For the youth, who often benefit from employment opportunities in these zones, this could have far-reaching implications,” he further said.
The association recommended the retention of the current VAT rate and urged the Federal Government to continue to fund agencies like TETFUND, NASENI and NITDA which he said are needed to thrive in a rapidly evolving global economy.
In its contribution, the Centre for African Policy Research Advisory, called for the involvement of Nigerians in the implementation of the bills when they are eventually passed into law.
Speaking on behalf of the Centre, Segun Adebayo emphasised the need for the protection of the nation’s tax sovereignty.
“Tax sovereignty refers to a nation-state’s right to control its tax policies. It is closely tied to a country’s ability to govern effectively and democratically,” he said.
One of the lead partners in the dialogue, Project Sprint, in its contribution, said the bills hold the potential to reduce the budget deficit, decrease government dependence on borrowing, curtail tensions across socioeconomic strata, and attract foreign investments.
Coordinator of the group, Isreal James in his speech, pointed out areas of concern in the proposed reforms, saying, “One critical aspect to consider is the microeconomic implications of personal income tax on labour supply.
“Many youths in Nigeria fall within the wage bracket of 70,000 to 150,000 naira per month. Taxing this demographic could have detrimental effects, especially for those on the verge of paying off academic loans and starting their lives.
“As we navigate the modern era, it is crucial to recognise that services such as telecommunications and digital transactions are essential. To disregard these services as non-essential would be a step backwards in our progress.
“We advocate for a reduction in VAT to between 3.5 per cent and 5 per cent to better reflect our GDP per capita. While encouraging states to compete economically to improve their VAT collection is commendable, it is equally important for the Federal Government to empower states to effectively manage their economies. One way to achieve this is through the decentralisation of port construction, ensuring that states have the necessary infrastructure to thrive,” he said.

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Just in: Tinubu’s son Seyi, Tops Controversial List As Lagos Guber Race Ignites Political Wahala

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By Kayode Sanni-Arewa

The race to succeed Governor Babajide Sanwo-Olu in 2027 is gradually gaining momentum, with political stakeholders and groups across Lagos State already rooting for their preferred candidates.

Among those generating buzz is Femi Gbajabiamila, Chief of Staff to President Bola Ahmed Tinubu and former Speaker of the House of Representatives.

A growing number of party faithful and influential figures are backing him, with popular Nollywood actor and lawmaker, Desmond Elliot, reportedly leading a ‘silent’ push for Gbajabiamila to emerge as the APC flagbearer in the next gubernatorial election.

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Supporters are said to be banking on his close ties to the President and long-standing political experience, which they believe make him a strong contender.

“Gbajabiamila is not just a seasoned legislator. Now as Chief of Staff to the President, he has added executive experience.

“That’s the kind of leadership Lagos needs,” said Famous Oloyede, an APC chieftain from Surulere.

However, some party members believe that by 2027, Gbajabiamila, who will be 64, may be too old to govern a complex and fast-moving state like Lagos.

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“He should stay back in Abuja and continue supporting the President. Lagos needs someone younger; and besides, it’s time another administrative district takes the seat,” a senior party source revealed.

Lagos State is organised into five administrative districts, collectively called IBILE, namely Ikorodu, Badagry, Ikeja, Lagos Island, and Epe.

Notably, the last four governors of the state, Bola Tinubu, Babatunde Fashola, Akinwunmi Ambode and Babajide Sanwo-Olu, have all hailed from either Lagos Island or Epe.

Even Alhaji Lateef Jakande, the state’s first civilian governor, identified as a native of Lagos Island.

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The clamour for 2027 is not one-sided. Stakeholders from Epe, a region that once produced former governor Akinwunmi Ambode, are also pressing for political rebalancing.

Following Ambode’s fallout with the APC leadership, many indigenes believe Epe has been marginalised in the state’s power structure.

As a result, attention has shifted to the current Minister of State for Health and Social Welfare, Dr Maruf Tunji Alausa, who hails from Epe. Many locals view him as a competent and loyal figure capable of restoring Epe’s influence in Lagos politics.

“Epe has been marginalised for years,” said Olugbede Adekalu, a strong APC member.

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“Ambode was not allowed to complete his second term, unlike others before him. It’s time to correct that injustice,” he said.

Speaker of the Lagos State House of Assembly, Rt Hon Mudashiru Obasa, is also being quietly touted by political and religious circles.

A notable Islamic cleric recently expressed support for Obasa’s candidacy, citing his legislative experience and grassroots popularity.

While Obasa has yet to make a formal declaration, he recently made a subtle remark that has further fueled speculations.

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Speaking during a public engagement, the Speaker said, “Also, becoming governor is secondary; it is something that I have not given serious consideration. Nevertheless, that does not mean I am too young or lack experience to run; whereas, those who have been before me are not better off.”

Observers believe Obasa’s statement was a calculated message to signal openness to the race without making an outright announcement.

Also making the rounds is the name of Seyi Tinubu, son of President Bola Tinubu.

While he has not publicly declared interest, speculations are rife, with several diaspora groups reportedly rooting for him.

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This development has placed the party and the Governance Advisory Council (GAC), the highest decision-making body of the APC in Lagos, in a dilemma, especially as President Tinubu has remained silent despite the growing clamour for his son’s potential candidacy.

In addition to the growing field of aspirants, fresh agitations are emerging from Ikorodu, one of Lagos State’s largest administrative districts under the IBILE structure.

Despite the fact that the current Deputy Governor, Obafemi Hamzat, hails from Iga Egbe, a traditional compound within the Ikorodu Division, many stakeholders are insisting the district is yet to be adequately represented at the top.

According to party insiders, there is mounting support for either Rep Babajimi Benson or Hamzat himself to emerge as the next governor.

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However, should neither of them clinch the ticket, strong lobbying is ongoing for Hon Abike Dabiri-Erewa, former House of Representatives member and current Chairman of the Nigerians in Diaspora Commission, to be considered for the position of deputy governor, especially if the governorship goes to another district.

“Ikorodu deserves a real shot at the governorship. It’s one of the most loyal and populated zones in Lagos, yet we’ve never truly had our turn,” said a party source.

While some argued that Ikorodu had a brief taste of power through Abiodun Ogunleye, who served as deputy governor during Tinubu’s administration, a party member countered that Ogunleye’s tenure, just 14 days between May 15 and May 29, 2007, was too short to be considered meaningful representation.

A party insider from Ogolonto, a community in Ikorodu, stated:

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“Ogunleye’s 14-day tenure was purely symbolic. You can’t call that real representation. That’s not power-sharing, it was a token gesture. Ikorodu deserves more than a fleeting appointment.

“Serving just 14 days as deputy governor hardly qualifies as meaningful leadership. Ikorodu deserves more than a fleeting appointment.”

Reflecting growing calls for more equitable power rotation across Lagos, some party members have maintained that adjoining districts long overlooked deserve a turn in the executive seat.

“Power should shift to Badagry now. They’ve never produced either a governor since 1999,” another party member told DAILY POST.

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Another name quietly gaining traction within APC circles is that of Senator Mukhail Adetokunbo (Tokunbo) Abiru, who currently represents Lagos East Senatorial District in the National Assembly.

This district encompasses the local government areas of Epe, Ibeju-Lekki, Ikorodu, Kosofe and Somolu

With many zones clamouring for recognition and no clear frontrunner emerging yet, one thing is clear: the contest for the soul of Lagos in 2027 will be one of the most keenly watched and hotly contested in the state’s recent political history.

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Just in: FG receives Wigwe’s helicopter crash report from NTSB

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By Kayode Sanni-Arewa

The Director-General of the Nigeria Safety and Investigation Bureau (NSIB), Alex Badeh, has confirmed that the United States National Transportation Safety Board (NTSB) shared the final report on the helicopter crash that claimed the lives of former Group Chief Executive Officer of Access Holdings Plc, Herbert Wigwe, his wife Doreen, their son Chizi, former NGX Group Chairman Abimbola Ogunbanjo, and two pilots.

Recall that the tragic crash occurred on February 9, 2024, when an Airbus EC130B4 helicopter operated by Orbic Air, LLC crashed near Halloran Springs, California.

The NTSB’s final report outlined the primary causes of the crash, identifying “pilot disorientation” and a violation of flight protocols as key contributors to the tragedy.

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Specifically, the report pointed to the decision to proceed under visual flight rules in instrument meteorological conditions as a significant factor in the crash.

Badeh stated, “The NTSB shared the report directly with the NSIB as we are interested parties and in accordance with ICAO Annex 13 protocols.

“We do not necessarily comment on accident reports as they are not meant to apportion blame but to improve safety and prevent reoccurrence.”

When asked if the NSIB was satisfied with the findings in the NTSB report, Badeh emphasised that the NSIB does not engage in commenting on accident reports.

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He clarified that the primary purpose of such reports is not to assign blame but to ensure that measures are put in place to enhance safety in the aviation sector.

“The report’s essence is to improve safety across the sector. The NSIB is not the head of aviation in Nigeria,” Badeh reiterated.

Badeh further confirmed that the family of the deceased had been in communication with the NTSB throughout the investigation process, from the time of the crash until the final report was released.

“The family of the deceased has been in contact with the NTSB at the time of the accident till the close of the investigation,” Badeh stated.

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Insecurity!Six Terrorists Silenced, Camps Destroyed as Troops Sweep Sokoto, Zamfara Forests

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By Kayode Sanni-Arewa

In a daring continuation of Operation of Troops FANSAN YANMA Phase V, the troops have penetrated deep into terrorist strongholds across parts of Sokoto and Zamfara States, dismantling layers of insurgent infrastructure and recovering weapons.

The multi-day operation, which began with swift assaults on identified camps, saw troops advancing through highly hostile territory, including Gidan Madi, Tsamiya Village, Tudun Ruwa, Alela, and several forested areas notorious for harbouring terrorist cells.

Security sources told Akelicious that the troops encountered multiple ambushes laid by fighters of the Lakurawa terror faction, a splinter group known for its entrenched operations in the North West region.

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Despite the resistance, the troops pressed forward, clearing key hideouts beyond Alela village, including the Areo general area, Damoria, Tumuna Village, and the densely wooded Goboro Forest.

“These locations have been long used by terrorists as logistics hubs and operational bases for launching attacks on civilian communities and security convoys,” a senior military source familiar with the operation said.

The military offensive did not come without cost. One soldier was wounded in action (WIA) during the series of engagements, while a vigilante supporting the operation paid the ultimate price. The wounded soldier was promptly evacuated to the 8 Division Military Hospital (8 DMSH) in Sokoto for treatment.

Troops also neutralised six terrorists affiliated with the Lakeurawa faction during the operation. Several others escaped with varying degrees of gunshot wounds, fleeing into the surrounding forest areas

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Among the arms recovered from the cleared camps were various weapons, magazines, two handheld radios, and motorcycles which were some of the items believed to have been used for communications and mobility within the camps

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