Business & Economy
No Part Of Tax Reform Bills Recommends Scrapping Of TETFUND, NASENI, NITDA… *No Provision Will Impoverish The North -Presidency
Since the public debate around the transformative tax bills before the National Assembly began in the last few weeks, various political actors and commentators have tried to obfuscate the facts, deliberately misinforming and misleading the public.
In a statement by Special Adviser to the President (Information & Strategy), Bayo Onanuga said unfortunately, most reactions are not grounded in facts, reality, or sufficient knowledge of the bills.
While some commentators have attempted to incite the people against lawmakers, others have polarized one section of the country against another.
The tax reform bills will not make Lagos or Rivers more affluent and other parts of the country, as recklessly canvassed, poorer.
The bills will not destroy the economy of any section of the country. Instead, they aim to enhance the quality of life for Nigerians, especially the disadvantaged, who are trying to make a living.
Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills.
Government agencies, such as NASENI, TETFUND, and NITDA, are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.
One reason President Bola Tinubu embarked on the Tax and Fiscal Policy Reforms is the need to streamline tax administration in Nigeria and make the operating environment conducive for businesses.
For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives.
The multiple taxes complicate the economic environment, making Nigeria uncompetitive for investment and preventing many businesses from growing or continuing their operations. Some companies have had to make the rational decision to relocate to other countries. We can not continue on this path or wait for 20 years if this country is to deliver the prosperity we need for our people.
The proposal, as contained in section 59(3) of the Nigeria Tax Bill, only seeks to consolidate some of the earmarked taxes imposed on companies and replace them with a single tax to be shared with the key agencies as beneficiaries in a phased manner until 2030.
The time frame offers ample opportunity for the affected agencies to explore other funding sources in addition to budgetary allocations in line with the constitution and international best practices.
It is a misrepresentation of facts to conclude that changing an agency’s funding source amounts to scrapping it. None of the countries leading globally in education, science, engineering, or information technology have similar earmarked taxes.
The government imposes major taxes, be it income tax, consumption tax, or other taxes, to channel resources to its areas of priority at the time. Imposing a separate tax to fund an agency is an aberration that has yet to yield results despite the huge burden on businesses. The tax bill seeks to address this problem.
Relevant stakeholders and public analysts owe it a duty to properly educate themselves about the bills’ contents and avoid misleading the public for any reason. We may be entitled to our opinions, but such views must be informed and based on facts, not emotions targeted at inflaming passions.
In a period like this, when our people across the country look up to leaders for guidance and direction on matters of public importance, such as the Tax Reform Bills, leaders should be more measured in their public utterances to avoid heating the polity and polarising the country unduly.
President Tinubu welcomes the public interest these bills have generated. He encourages leaders across the country, including Governors, Traditional rulers, Civil Society Activists, Students, trade associations, professional associations, and the general public, to take advantage of the Public Hearings that the National Assembly will organise to present their views on how best to reform our taxes and fiscal regime.
What is never in doubt is the imperative of changing the existing tax laws and administration that have become obsolete and unhelpful in achieving the growth and development we desire for our country.
Business & Economy
NEITI Report : Senate gives Seplat , Network E & P , others , 48 hours ultimatum ….As Dubri oil defends $3.025million royalty and gas flare debts
By George Mgbeleke
Foĺlowing the on-going efforts by the Senate to recover all unaccounted funds by revenue generating Agencies of government, the Red chamber on Tuesday through its Public Accounts Committee , gave Seplat Energy , Network E & P Nigeria Limited and two other oil companies , 48 hours to appear before it to answer queries raised against them in the 2021, 2022 and 2023 audit reports presented by Nigeria Extractive Industries Transparency Initiative ( NEITI) .
The two other oil companies given similar 48 hours ultimatum for appearance or risk invocation of legislative powers against them are All Grace Energy Limited and Aradel Energy Limited .
But Dubri Oil Company Limited that appeared before the committee , defended $’3.025million royalty and gas flare debts recorded against it in the audit report .
48 hours ultimatum against the affected four oil companies followed resolution adopted to that effect by the Senator Ibrahim Hassan Dankwabo led committee in line with displeasures expressed by some of its members .
First to call for sanction against the erring oil companies , was Senator Abdul Ningi ( Bauchi Central ) who described letter written by Network E & P Nigeria Limited to the committee that Nigerian Upstream Petroleum Regulatory Commission ( NUPRC) is the regulatory body it reports to , as disturbing and provocative .
The Senate according to him as provided for in sections 88 and 89 of the 1999 constitution, can invite any body or agency .
” The Senate and by extension , the National Assembly, is the custodian of Nigeria law that has power to invite anybody or agency for explanations on issues raised against them “, he said .
In supporting Ningi , Senator Shehu Kaka Lawan ( Borno Central ) , called for invocation of constitutional powers against management of the affected agencies which made the Chairman to issue 48 hours ultimatum for appearance against Managing Director of Network E & P Nigeria Limited .
” Having failed to honour invitation of this committee two consecutive times , the Managing Director of Network E & P Nigeria Limited should appear before us unfailingly on Thursday this week or risk full invocation of legislative powers against him”, he said .
Similar ultimatums were also issued against Managing Directors of All Grace Energy Limited , Aradel Energy Limited and Seplat Energy when when their absence was noted by the committee.
But Dubri Oil that appeared , rejected $3.025million royalty and gas flare debts recorded against it .
NEITI in the report alleged that as submitted by NUPRC in 2025 that Dubri Oil owes $3.025million debt which include $2.378million debt for gas flare and $646, 605.55 for oil production
The query was however faulted by representative of Dubri Oil , Soyode Olusoji Clement who said the report was compiled when the oil company had reconciliation issue with NUPRC .
The reconciliation problem between Dubri oil and NUPRC according to him , has however been resolved without any debt hanging on Dubri oil .
He presented documents to that effect to the committee which according to the committee, would be studied critically before issuance of clean bill of health .
Business & Economy
Tinubu’s livestock reforms will end subsistence farming, create jobs –Jega
By Our Correspondent
The Special Adviser to the President on Livestock Development, Prof. Attahiru M. Jega, has said the Presidential Livestock Reforms Agenda of President Bola Ahmed Tinubu is designed to end subsistence livestock farming and build a commercially viable sector that will create jobs and strengthen food security.
Jega, who is also Co-Chair of the Presidential Livestock Reforms Implementation Committee, stated this in a goodwill message delivered at the 9th All Africa Conference on Animal Agriculture in Abuja on behalf of the Presidency.
The conference themed, “Repositioning Animal Agriculture for Africa’s Food Security and Global Competitiveness,” brought together stakeholders across the continent.
Jega, who was represented by Prof. D. J. U. Kalla, said Africa cannot achieve sustainable food security, improved nutrition and inclusive economic growth without transforming animal agriculture.
“Livestock is deeply woven into Africa’s culture, heritage and economy. Beyond food, cattle, sheep, goats, camels and poultry represent wealth, livelihoods, resilience and social capital for millions of African families,” he stated.
He noted that the sector generates employment and income across breeding, feed, animal health, processing, trade and value addition, describing livestock as “not a peripheral component of African agriculture, but a prime mover of inclusive economic transformation.”
“Our ambition is to unlock the enormous economic potential—the goldmine—of the livestock sector and build a productive, competitive, climate-resilient and commercially viable industry that creates jobs, strengthens food and nutrition security, and drives rural prosperity,” he said.
Jega stressed that the country must move “from subsistence to productivity, from fragmentation to value-chain integration, and from potential to investment and competitiveness.”
He listed key areas for investment to include genetics, animal health, feed and forage, water, research and innovation, infrastructure, value addition and markets.
The presidential aide urged the conference to move “beyond dialogue to action, partnerships and measurable commitments” that translate policy into impact.
“Africa has the livestock resources. Our task is to convert this biological wealth into nutritious food, decent jobs, resilient livelihoods and globally competitive enterprises. Africa must feed Africa—and animal agriculture must be at the fulcrum of that transformation,” Jega concluded.
Business & Economy
Women,s Wing Of ABER Hails Dr. Piriye Kiyaramo As Visionary Leading Africa,s Blue Economy Transformation
By David Owei
“The Captain of the Blue Future” Commends Inclusive Leadership Ahead of the forthcoming Africa Blue Economy Roundtable’s Women Forum
Younde, Cameroon – The Head of the Women’s Wing of Africa Blue Economy Roundtable – ABER, Barr. Sophie De Sylvie Djoufa Tiemagni, popularly known as ‘The Captain of the Blue Future’, has paid glowing tribute to Dr. Piriye Kiyaramo, Convener and Chief Executive Officer of ABER, describing him as a visionary leader shaping the future of Africa’s Blue Economy.
In a statement issued from the ABER Women’s Wing Secretariat, Duoula – Cameroon, Barr. Djoufa Tiemagni said Dr. Kiyaramo embodies a new generation of leadership focused on action, inclusion, and impact.
“There are leaders who manage, and there are leaders who inspire, transform, and unite. Dr. Piriye Kiyaramo unquestionably belongs to the latter category. In many ways, he is the human embodiment of leadership,” she stated.
Barr. Djoufa Tiemagni noted that under Dr. Kiyaramo’s leadership, ABER has prioritized competence over connections in its appointments of regional leaders, an International Ambassador, the Head of the Women’s Wing, and in recognizing outstanding women through prestigious awards.
“Through these appointments, he has demonstrated that inclusion is not a slogan but a fundamental value at the heart of his vision. He has made inclusion, merit, and excellence the pillars of his leadership,” she said.
She added that this approach, guided by competence, commitment, and contribution to the blue economy, has enabled ABER to build a united community of stakeholders with a shared ambition: to make the blue economy a powerful engine for Africa’s development.
The tribute comes on the heels of the 3rd Africa Blue Economy Week, held in Luanda, Angola from 22 to 25 July 2026, where the central theme was transforming strategies into tangible results for African people.
“Since its establishment, ABER has worked tirelessly to build partnerships, promote African talent, strengthen women’s leadership, and accelerate the implementation of high-impact initiatives,” Barr. Djoufa Tiemagni said. “The time has come to move from strategy to action and make the blue economy a strategic driver of economic transformation, sovereignty, job creation, innovation, and Africa’s emergence.”
Concluding her tribute, Barr. Djoufa Tiemagni said Dr. Kiyaramo’s leadership reminds Africa that no sustainable transformation can be achieved without vision, inclusion, and action.
“Today, that vision has become a reality. Yes, ‘together we can’. And we believe it wholeheartedly. Together, we can. Together, we will. The future of Africa’s Blue Economy is bright.”
The Africa Blue Economy Roundtable – ABER, convened by Dr. Piriye Kiyaramo, is a pan-African platform dedicated to advancing policy dialogue, investment, and partnerships for the sustainable development of Africa’s ocean and water resources. ABER works to position the blue economy as a key driver of jobs, food security, climate resilience, and inclusive growth across the continent.
The Women’s Wing of ABER is committed to amplifying women’s leadership, participation, and impact in maritime governance, fisheries, aquaculture, shipping, and all blue economy sectors.
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