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Sanwo-Olu denies claims Lagos will benefit most from Tax Reform Bills
Sanwo-Olu denies claims Lagos will benefit most from Tax Reform Bills
Babajide Sanwo-Olu, the governor of Lagos State, has rejected that the proposed tax reform laws will benefit Lagos the most.
Sanwo-Olu urged Nigerians to take the time to grasp the reform legislation’s provisions, rejecting allegations that Lagos will be the principal beneficiary.
According to a report, the Governor of Borno State, Babagana Zulum, stated in an interview with Channels Television on December 2 that the proposed Value-Added Tax sharing scheme under the tax reform measures will primarily benefit Lagos State.
Furthermore, in an interview with BBC Hausa last Friday, Zulum cautioned that the laws could have disastrous effects for the Northern area and other parts of the country.
Sanwo-Olu, speaking to NAN on the sidelines of the Africa Investment Forum Market Days 2024 in Morocco on Wednesday, said the reforms would need everyone to work harder to get the full advantages.
He said, “What those uncomfortable with the tax reform are not willing to accept is that there is no way of making an omelette without breaking the egg.
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“You cannot make changes if the reforms are not set in. I have advised that people should take time to read the provisions of the reform very well and to fully understand what they’re trying to do.
“I have seen comments around. Comments like Lagos is going to be the major beneficiary. It is not true. Lagos is actually going to be shaped off in some places, but on a larger scale basis, we see it as a global thing for a better governance structure.
“All of us will play better, and we’ll be able to discipline ourselves more. One of the things you will see is that you need to work harder to get the full benefit of the reform. So it’s not just an easy kill.”
Sanwo-Olu went on to say that while Lagos state may suffer certain losses in certain areas, it will also gain additional opportunity to play a larger role.
He emphasised the urgent need for reform, citing Nigeria’s low tax-to-GDP ratio, which is among the lowest in the world.
However, the governor expressed confidence that the planned reforms will create enormous opportunities for all states and non-governmental entities.
Sanwo-Olu told Nigerians that the reforms are not intended to harm anyone, but rather to create a fair and inclusive system that benefits everyone.
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“I have a positive attitude toward it. I see it as a very wonderful reform. The tax-to-GDP ratio in Nigeria is one of the lowest in the world.
“So, there are a few things that need to happen, and like I keep saying, not only when you make those changes, you will not be able to see the opportunities that are found in your account.
“We really need to be bullish. We need to be encouraging ourselves and know that the intention is not to hurt anybody. This, I am very sure of.
“The intention is to better a lot, but not just better a lot of one person or one set of people. It’s for all of us, and so we should look at it this way.”
Sanwo-Olu stated that he has aggressively engaged stakeholders to clear up misconceptions regarding the reforms and that he has personally asked the presidential tax reform committee, led by Taiwo Oyedele, to increase its public engagement activities.
He also acknowledged that some of the opposition to the reforms originates from misunderstandings but emphasised that public participation is a healthy trend.
On October 3, President Bola Tinubu directed the national assembly to review and enact four tax reform bills: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill.
Sanwo-Olu denies claims Lagos will benefit most from Tax Reform Bills
metro
Three Ogun varsity students die auto crash
Three Ogun varsity students die auto crash
The Police Command in Ogun State has confirmed the death of three university students in a single-vehicle accident on the Ilisan-Ago-Iwoye Road.
In a statement issued on Saturday, the command’s spokesperson, SP Omolola Odutola, revealed that the victims were suspected to be students of Olabisi Onabanjo University (OOU), Ago-Iwoye.
The incident, which occurred around 3:30 p.m. on Friday, involved an Opel car with registration number AAA-126 HE. The vehicle was reportedly driven by Adekunle Adebiyi, a resident of 5 Sunmibare Street, Awa Ijebu.
“The accident was caused by overspeeding, leading to the driver losing control and the vehicle flipping into the bush,” Odutola explained.
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She further disclosed that one male passenger, whose identity is yet to be confirmed but is believed to be an OOU student, died on the spot. His body was taken to the mortuary at General Hospital, Ijebu Ode.
“Two female students from Olabisi Onabanjo University — Dada Oluwanifesimi, 18, and Miracle Daniel, 19 — were rushed to Love and Care Hospital but sadly passed away while receiving treatment,” she added.
The vehicle involved in the crash has been recovered and is now in police custody.
Odutola assured the public that further updates on the tragic incident would be provided and advised motorists to adhere to traffic regulations, particularly during the festive season.
Three Ogun varsity students die auto crash
metro
Dangote, MRS agree to sell petrol at N935/litre nationwide
Dangote, MRS agree to sell petrol at N935/litre nationwide
Dangote Refinery has announced a partnership with MRS to make Premium Motor Spirit (PMS), commonly known as petrol, available at ₦935 per litre nationwide through MRS retail outlets.
This development follows the Nigerian National Petroleum Company Limited’s (NNPC) recent move to lower petrol prices below ₦1,000 per litre.
In a statement shared on Saturday via X, the President of Dangote Industries Limited, Aliko Dangote, praised President Bola Tinubu for the positive impact of the naira-for-crude swap initiative on the Nigerian economy. He noted that the policy had contributed to a reduction in the cost of petroleum products.
“To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.
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“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre,” the statement read.
Dangote further revealed that the new pricing had already been implemented in Lagos and would be extended nationwide starting Monday.
He urged other oil marketers, including NNPC Retail, to collaborate to ensure Nigerians benefit from affordable and high-quality petrol.
“The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high-quality petrol at cheaper prices,” Dangote stated.
“Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.”
The naira-for-crude initiative was approved by the Federal Executive Council (FEC) in September under President Tinubu’s administration. The policy, which came into effect on October 1, has eased demand for the dollar and helped stabilize the naira, contributing to the reduction in fuel prices.
Dangote, MRS agree to sell petrol at N935/litre nationwide
metro
How another Nigerian allegedly murdered by four South Africans
How another Nigerian allegedly murdered by four South Africans
The Nigerian Citizens Association in South Africa has condemned the alleged murder of another Nigerian, 37-year-old Julius Chukwunta, by four South Africans.
The native of Aninri Local Government Area in Enugu State was reportedly attacked on December 7, 2024 while driving to his residence.
Chukwunta stayed in Midrand Protea Estate until his death.
NICASA President-General, Dr. Frank Onyekwelu, in an interview with the News Agency of Nigeria on Saturday, said Chukwunta was blocked by the four men while approaching his residence.
According to him, after attempting to pass through, he was met with resistance, prompting him to seek help at the security office.
Onyekwelu said: “At that moment, the four men allegedly attacked him, leaving him severely injured with a head wound.
“His female companion, who was sitting in the car, rushed to the security office and discovered him bleeding on the ground.
“In spite of attempts to call for help, the security office and residents did not assist in calling the police or an ambulance.
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“After an hour, Chukwunta’s partner contacted her father, who, along with other family members, took him to Tembisa General Hospital.
“Chukwunta was placed on life support but later succumbed to his injuries and died at the Tembisa General Hospital on December 10, 2024.”
Onyekwelu confirmed that the case, reported by Chukwunta’s partner, had been registered at the Midrand Police Station under file number: 262/12/2024.
He said the four suspects, aged 20, 24, 27, and 28, were arrested, and the case was presented in Alexandra Magistrate Court on December 13, 2024, where they were charged with murder.
He added: “The court proceedings on December 18, 2024 saw three of the suspects granted bail of R10,000 each, while the fourth had not yet applied for bail.
“The case was adjourned to February 3, 2025.”
Onyekwelu expressed disappointment at the proceedings and vowed that the Nigerian community would continue to demand justice for Chukwunta and support his family.
He emphasised that the community would not rest until justice was served and the value of Nigerian lives was upheld in South Africa.
How another Nigerian allegedly murdered by four South Africans
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