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Presidency to withdraw tax reform bills after 36 govs kick

Published

6 months ago

November 1, 2024

Presidency to withdraw tax reform bills after 36 govs kick

Barring any last minute changes, the Bola Tinubu Presidency will withdraw the Tax Reform Bills sent to the National Assembly barely two months ago by the president.

This is owing to the controversy generated by the four bills, which were sent to the parliament by President Tinubu on the 3rd of September, 2024.

Newstrends reliably learnt last night that the presidency has agreed to withdraw the bills, but sources said those pieces of proposed legislations would be modified and resubmitted to the National Assembly in due course.

The 144th meeting of the National Economic Council (NEC), presided over by Vice President Kashim Shettima, yesterday, recommended the withdrawal of the tax reform bills.

The recommendation came after governors of the 19 northern states, who met in Kaduna on Monday, alongside prominent traditional rulers from the region, resolved, among others, to reject the Nigeria Tax Reform Bill.

In a communiqué issued at the end of the meeting, the northern governors and monarchs decried the contents of the recent Tax Reform Bill, saying they were against the interests of the North and other sub-nationals, especially the proposed amendment to the distribution of the Value Added Tax (VAT).

President Tinubu had on September 3, transmitted four tax reform bills to the National Assembly for consideration.

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Tinubu, who was on vacation in London at the time, sent the bills via a letter addressed to the Speaker of the House, Abbas Tajudeen. The letter was read on the floor of the House during plenary that day.

The bills are the Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will provide a clear and concise legal framework for all taxes in the country and reduce disputes.

The others are the Nigeria Revenue Service Establishment Bill, which will repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, which will create a tax tribunal and a tax ombudsman.

Tinubu said the bills were designed to support his administration’s objectives and strengthen fiscal institutions in the country.

“The proposed tax bills present substantial benefits that align with my government’s objectives and fiscal reform on the economic growth by enhancing taxpayer compliance, strengthening our fiscal institutions and fostering a more effective and transparent fiscal regime,” he said.

The president further stated that he was confident that if the bills were passed, they would encourage and stimulate the economy.

Explaining their decision to reject the Tax Reform Bill, the Chairman of the Northern Governors’ Forum, Governor Inuwa Yahaya of Gombe State, while reading the communiqué of the forum’s meeting said: “This is because companies remit VAT using location of their headquarters and tax office and not where the services and goods are consumed. In view of the foregoing, the forum unanimously rejects the proposed Tax Amendments and calls on members of National Assembly to oppose any bill that can jeopardise the well-being of our people.

“For the avoidance of doubt, the Northern Governors’ Forum is not averse to any policies or programmes that will ensure the growth and development of the country. However, the forum calls for equity and farness in the implementation of all national policies and programmes so as to ensure that no geopolitical zone is short-changed or marginalised”, he said.

Later, Governor Abdullahi Sule of Nasarawa State further clarified the position of governors from the region, saying they were against the VAT bill because it would be unfair to the North as a whole.

Sule said that the governors were not against President Tinubu.

He said: “We can’t bring in President Tinubu and then oppose him. If you look at the composition of the meeting you will see that they are people from the APC and the PDP. Some don’t even have a political party. We sat down and took the decision together.

“Some are traditional rulers. If you look at the law, it will be unfair to the North”, he reiterated.

Presidency to withdraw tax reform bills after 36 govs kick

Related Topics:Bola Tinubu Featured Presidency Tax Reform

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Libya nabs three Nigerians over drug trafficking

Published

2 days ago

April 15, 2025

Trends Admin

Libya nabs three Nigerians over drug trafficking

The Samnu Police Department in southern Libya detained three Nigerians for drug trafficking.

According to a statement issued by Migrant Rescue Watch on X (previously Twitter) on Sunday, the suspects were apprehended carrying a quantity of hashish that officials believe was meant for sale.

The arrests were made during a targeted operation in the town of Samnu, Murzuq region, which is known for smuggling and human trafficking due to its proximity to Libya’s southern borders.

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This operation is part of a larger security effort to combat drug-related crimes and cross-border trafficking of migrants.

The suspects’ identities have not yet been made public. Authorities acknowledged that the case had been turned over to the public prosecutor for further investigation and judicial action.

The statement said. “Samnu Police Dept. arrested 3 #migrants of Nigerian nationality on charges of drug trafficking. The trio were found in possession of a quantity of hashish earmarked for sale. The case was referred to public prosecution.”

Libya nabs three Nigerians over drug trafficking

News

NIS expands contactless passport renewal to United States, others

Published

3 days ago

April 14, 2025

Trends Admin

NIS expands contactless passport renewal to United States, others

The Nigeria Immigration Service (NIS) has announced the expansion of its Contactless Biometric Passport Application System to several countries in the Americas.

In a recent statement by ACI AS Akinlabi, Service Public Relations Officer at NIS Headquarters in Abuja, confirmed that the service under Comptroller General Kemi Nandap is rolling out the next stage of implementation across Brazil, the United States, Mexico, and Jamaica this month.

The contactless system, which enables Nigerians living abroad to renew their travel document without physically visiting passport offices for biometric enrollment, went live in the United States on April 11. Mexico, Brazil and Jamaica are scheduled to gain access on April 14.

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“This expansion represents our commitment to innovative and efficient service delivery to Nigerians anywhere in the world,” said ACI AS Akinlabi, Service Public Relations Officer at NIS Headquarters in Abuja.

The application system is currently available on the Google Play Store as “NIS Mobile” and allows passport renewal without in-person biometric enrollment. An iOS version for Apple devices is under development and will be released soon, alongside an enhanced version of the Android app to improve user experience and accessibility.

The NIS further confirmed that the Contactless Passport App is now operational in Canada, the USA, Mexico, Jamaica, Brazil, Europe, and Asia. Australia and Nigeria itself remain pending, with implementation dates to be announced in the future.

NIS expands contactless passport renewal to United States, others

News

Tariff: NACCIMA warns against economic instability, job losses

Published

3 days ago

April 14, 2025

Trends Admin

President of NACCIMA, Dele Oye

Tariff: NACCIMA warns against economic instability, job losses

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has expressed fear that unless the Federal Government takes deliberate steps to increase Nigeria’s non-export earnings, the current global tariff war may lead to job losses, low foreign exchange inflow, and economic instability.

This was the position of the President of NACCIMA, Dele Oye, as the chairman at the Vanguard Economic Discourse 2025 with the theme, “Nigeria’s Economic Outlook 2025: Hardship and Pathways to Sustainable Recovery”, held last week in Lagos.

Among other things, Oye who is also the Chairman of the Organised Private Sector of Nigeria (OPSN), emphasized the need for a viable and affordable homegrown democracy.

His words: “In this pivotal moment, we must recognize and confront the significant challenges before us—challenges that have been magnified by the advent of America’s “America First” policy.

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“This paradigm shift in global trade, driven by protectionism and tariffs, presents a unique and formidable array of obstacles for developing nations such as ours.

“The world we once knew, one characterized by cooperative, rules-based trading systems under the World Trade Organization, has given way to an environment fraught with uncertainty. This transformation not only disrupts global markets and supply chains but poses an acute threat to our competitive standing in international trade.

“The recent implementation of a 14% tariff on Nigerian exports to the United States directly jeopardizes what has historically been a critical market for our key goods, including crude oil, liquefied natural gas, and agricultural products. “The ripple effects of reduced demand could precipitate job losses, economic instability, and a decline in vital foreign exchange inflows, particularly for our non-oil sectors”.

“Indeed, the ramifications of current U.S. policies go beyond tariffs. We are witnessing a significant decrease in funding for initiatives that empower Africa’s burgeoning start-ups. The $51 million cut from the United States Development Fund, which affects countries like Nigeria and Kenya, exemplifies the broader challenges we face. The grants previously allotted to our SMEs are critical for nurturing innovation and entrepreneurship within our local economies”.

In the face of these challenges, Oye said Nigeria must act decisively and strategically to reshape its economic destiny where adversity can give rise to opportunity.