Business & Economy
Tax Reform Bills:Senate passes Nigeria Revenue Service,Nigeria Tax Administration Bills
By George Mgbeleke
The Senate at plenary on Wednesday, passed two out of the four tax Reform bills after subjecting the bills (comprising Nigeria Revenue Service Bill and the Nigeria Administration) into clause by clause consideration.
Recall that the tax reform bills passed second reading in the Senate last November, and the House of Representatives passed them at third reading in March 2025, shortly before the lawmakers adjourned for the Easter and Eid-el-Fitr holidays.
In his committee’s report,Chairman Senate Committee on Finance, Senator Sani Musa said the committee members duly reviewed the provisions of the tax reform bills and conducted public hearings for public participation
According to Senator Musa, about 64 organisations, including Civil Society Organisations (CSOs), attended the public hearing, and a majority of them supported the bills.
On the sharing formula for Value-Added Tax, the senator recommended 10 per cent for the federal government, 55 per cent for state governments and the Federal Capital Territory, and 35 per cent for local governments.
He also recommended retaining 10 per cent of funding for TETFUND, 10 per cent for NASENI, and 10 per cent for NITDA.
Musa also noted that the committee included 5 per cent funding for cybersecurity and 10 per cent funding for defence.
The senator, therefore, recommended the passage of the tax reform bills with the argument that it would improve economic growth, simplify tax compliance and boost investor confidence.
Kebbi North Senator Yahaya Abdullahi supported the bills and urged his colleagues to support it.
Details of the recommendations on the two Bills are as follows:
Recommendations on the Nigeria Revenue Service (Establishment) Bill, 2025 (SB.584)
The objectives of this Bill should be amended as follows:
“To provide for a legal, institutional and regulatory framework for the administration of taxes and revenue accruable to the Government of the Federation, as prescribed by the National Assembly.”
2. Clauses 4 of the Nigeria Revenue Service Establishment Bill 2025, – functions of the Nigeria Revenue Service should be amended as follows:
a. Assess persons including corporations, companies and individuals chargeable with tax, other than individuals, resident in any state of the Federation or the Federal Capital Territory.
b. in collaboration with the relevant Ministries and Agencies of Government, subject to the approval of the Senate, review the tax regimes and promote the use of taxation to develop, stimulate and grow economic activities;
C. Adopt measures to identify, trace, freeze, confiscate or seize proceeds derived from tax fraud or evasion, in line with the provisions of this Bill;
3. Clause 7 (la) of the Nigeria Revenue Service Establishment Bill 2025 should be amended as follows:
“The Chairman of the Board who shall be the President; and (b) Executive Vice Chairman who shall be the head of the Revenue Service and subject to confirmation of the Senate”
4 Clause 13 (2) of the Nigeria Revenue Service Establishment Bill 2025 should be amended as follows:
“The Secretary shall be a lawyer, or a chartered accountant or a chartered secretary who shall not be less than the rank of a Deputy Director”
5. Executive directors should be appointed to the Board of the Service. We propose that the relevant clause be amended as follows:
“The President shall appoint six Executive Directors for the Service, each representing a geopolitical zone on rotational basis among the states in the zone in alphabetical order provided that the Executive Vice chairman and an Executive Director shall not come from the same state ”
6. The timeline for reporting by the service should not exceed 3 months after the end of the preceding year.
9.3. Recommendation on the Nigeria Tax Administration Bill (SB. 585)
10% to the Federal Government;
55% to the State Governments and the Federal Capital Territory; and
35% to the Local Governments.
(2) The amount of VAT revenue standing to the credit of states and local governments shall be
Distributed among them on the following basis:
State Governments:
Equality – 50%
Population -20%
iii. Place of consumption -30%
b. Local Governments -70%
i. Equality -30%.
ii. Population
3. Change the word “Derivation” to “place of consumption” to provide clarity
4. Penalties for the following offences were amended as follows:
Clause 100 – Failure to register:
(a) N100,000.00 in the first month in which the failure occurs; and
(b) N50,000.00 for each subsequent month in which the failure continues.
Clause 101 – Failure to file returns:
(a) N200,000.00 in the first month in which the failure occurs: and
(b) N50,000.00 for each subsequent month in which the failure continues
Clause 102 – Failure to keep books:
(b) on request by the relevant tax authority, fails to provide any record or book
Prescribed in this Act shall be liable to pay an administrative penalty of
In the case of a person other than a company, N10,000.00, and
In the case of a company, NI00,000.00.
5. Clause 107 – Failure to remit tax deducted at source or self-account: A person who
Fails to comply with subsections (1) and (2), shall on conviction for any of the offences under this section, in addition to the administrative penalty, be liable to a term of imprisonment not exceeding three years.
9.4. Recommendation on the Nigeria Tax Bill (SB. 586)
1. Development Levy: Retain the funding of TETFUND, NASENI, NITDA, Cyber Security and NELFUND from the Development levy using the following sharing formula:
i. Tertiary Education Trust Fund 50%:
i. Nigerian Education Loan Fund 15%
iii. National Information Technology Development Fund – 10%;
iv. National Agency for Science and Engineering Infrastructure 10%:
V. National Cybersecurity Funds – 5% and
vi. Defence Security Funds – 10%.
2. Retain the VAT rate at 7.5%
3. Company Income Tax rate 30%
4. Clauses 157 to 163 which provide for Excise Duty on Services should be deleted.
5. The provisions of the PIA that are proposed for amendments are outlined below:
The Petroleum Industry Act, No 6. 2021 is amended by deleting
(a) Part I-X of Chapter Four;
(b) the Fifth and Sixth Schedules;
(c) paragraphs 6, 9, 10, 11 and 12, of the Seventh Schedule: and
(d) subparagraph 6 of paragraph 14 of Part IV of the Seventh Schedule:
9.5. Having carefully considered the above, the Committee hereby recommends as follows:
That the Senate do consider and pass the following Bills
Joint Revenue Board (Establishment) Bill, 2025 (SB. 583).
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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