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House Of Reps Adopt Tax Reform Bills, VAT Remains 7.5%

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Reps in session
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The House of Representatives has finally adopted the reports of its committee on finance on the Tax reforms bills after months of negotiations and three public hearing on the issue.

Several amendments were made to accommodate all concerns as the bills were approved without any dissenting voice.

Part of the amendments include the retention of value added tax (VAT)at 7.5 percent, redefinition of the inheritance tax, and distribution of value added tax.

The House also approved the proposal for the military to be exempted from personal income tax.

“All the 36 states, including the Federal Capital Territory have their representatives in the sub-committee.

“This is the first time such a report is getting hundred per cent approval by almost all members,” the Speaker of the House of Representatives Tajudeen Abbas said.

Following the consideration of the bills, the Chairman of the House of Representatives Committee on Finance James Faleke

“These bills underwent three full days of public hearings, with input from over 80 key stakeholders. Afterward, we held an eight-day retreat to debate each clause,” the Lagos lawmaker said.

“I am glad that House members recognised our thorough work and approved all our recommendations.”

With the adoption, the House is now poised to pass the bills.

The adoption is coming after President Bola Tinubu in October 2024 asked the National Assembly to pass the tax reform bills. These bills include the NRS bill, the Nigeria tax bill, the Tax administration bill, and the joint revenue board establishment bill.

Some clauses in the bills had generated concerns in some sections of the country with many calling for their withdrawal. But President Tinubu insisted on the bills, arguing that Nigeria needs them to make progress.

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Tinubu Asks Content Creators To Use Their Influence To Promote Unity

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President Bola Tinubu
President Bola Ahmed Tinubu
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President Bola Ahmed Tinubu has urged young Nigerians involved in digital media to leverage their platforms as tools for national progress during his address on Friday.

He encouraged them to establish businesses that create job opportunities, produce content promoting unifying values, and act as positive catalysts for societal development. He emphasised the importance of verifying information before sharing it.

At the opening of the Progressives Digital Media Summit, themed “Unveiling the Critical Role of New Media in National Development,” President Tinubu stated:

“Your generation has recognised this moment. You are utilising digital tools to innovate, educate, and demand accountability. However, as your influence increases, so must our collective sense of purpose and responsibility.

“I urge you to continue using digital platforms to advance our nation. Build businesses that create jobs. Produce content that uplifts and unites. Use your influence to promote unity, not division.”

He praised the creativity and resilience of Nigeria’s youth, noting that digital media serves as a driving force for economic and social transformation.

“It is no longer merely an accessory to life,” he added. “From developing innovative platforms to establishing vibrant online communities, you are demonstrating the determination that is redefining what is possible for this country.

“You are not waiting for the future; you are building it. Digital media is now a central driver of economic growth, civic engagement, and social change, broadening representation for those previously unheard.”

The President affirmed that his administration is committed to supporting digital innovation through the National Digital Innovation Fund and policies that foster a thriving startup ecosystem. However, he cautioned practitioners to remain vigilant against disinformation and cyber threats.

Femi Gbajabiamila, Chief of Staff to the President, acknowledged digital media practitioners for consistently advocating for Nigeria and positively representing the nation on the global stage:

“You are the vanguard of a reborn Nigeria, determined to reach for the stars. Under President Tinubu’s leadership, our nation has begun its long-overdue journey toward greatness. The road may be challenging, but it is necessary,” he stated.

In a goodwill message, Bayo Onanuga, Special Adviser to the President on Information and Strategy, highlighted the significance of the Summit. He noted that lessons from recent elections in countries like the U.S. and Germany illustrate how digital media have become crucial battlegrounds—not just for entertainment—but for shaping electoral outcomes.

“However, social media is not a fair battleground. As a public square, it is often chaotic and unregulated. Users frequently ignore the rules. Divisive content is rampant, and deepfakes and AI-generated material are increasingly used against political opponents. Posts are driven by clicks, not truth or accuracy. Misinformation spreads five times faster than official corrections,” Onanuga observed.

He expressed optimism that the Summit would address these challenges, focusing on strategies to combat fake news and misinformation.

Segun Dada, the summit convener and Special Assistant to the President on New Media, emphasised that in less than a decade, digital media has evolved from a tool for personal communication into a powerful engine for communication, innovation, and influence.

He stressed the importance of harnessing this force for the benefit of Nigeria while managing inherent risks, such as privacy concerns and threats to social cohesion.

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FG Approves Road And Bridge Projects Nationwide Worth N2.38 Trillion.

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Minister of Works, Dave Umahi
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The Federal Government has given the green light to a series of impressive road and bridge projects across the nation, totalling an investment of N2.38 trillion!

This exciting development comes with a promise to unveil a detailed state-by-state ledger, highlighting all projects that exceed N10 billion.

Minister of Works, Dave Umahi, made a statement after Thursday’s Federal Executive Council meeting, which was presided over by President Bola Tinubu at the Aso Rock Villa in Abuja.

Umahi outlined several significant contracts, including:

– Abuja Road Section I (118 km) at N286 billion

– Abuja Road Section II (164 km) at N502 billion

– Abuja–Kano Road (72 km) at N450 billion

– Nembe Bridge at N156 billion

– Sokoto–Badagry Corridor, Section 2 to Kebbi (228 km, three lanes) at N961 billion

He also mentioned two approved adjustments: an additional N11.42 billion to complete the Lagos–Shagamu–Ijebu-Ode–Ore project and N8.94 billion for revisions in Niger State, bringing the aggregate adjustment to N2.38 billion.

Regarding cash flow, Umahi stated that the Presidency has released N75 billion for Abuja Section I, which he described as 30% of the total N286 billion; approximately N150 billion (about 30%) for Abuja Section II; N45 billion (presented as 30%) for the Abuja–Kano Road; and N46.8 billion, representing 30% of the N156 billion allocated for the Nembe Bridge. This brings the documented releases for these four items to roughly N316.8 billion.

He added that the Abuja County application project, valued at $22 billion, has also received a 30% payment in dollars. Additionally, funds have been disbursed for all four sections of the Bauchi–Gombe project, with further Sukuk disbursements to Gombe where work has already commenced.

The minister emphasised that this program will stimulate growth by connecting states, reducing logistics costs, and increasing the GDP of the states. He referenced the Lagos–Calabar Coastal Highway, stating that the first section is 85% complete and benefiting Lagos’ economy.

Umahi explained, “The Lagos-Calabar Coastal Highway, sections 4A and 4B, are in Ogun State and extend from where section one ended at Lekki, continuing into Ondo State. We have about 40 km in Ogun State and 40.35 km in Ondo State. The project has reached the border between Ondo and Edo States, totalling 80.53 kilometres, with six lanes. The overall contract sum is N1.65 trillion.

“The project involves excavating to an average depth of six meters, refilling with fresh water and sharp sand, and raising the existing ground level by five meters to prevent flooding, as it traverses swampy areas. These details are part of what the Federal Executive Council approved.”

Umahi also outlined new and revised approvals, including:

– The Biu–Numan road in Adamawa, extended from 45 km to 61.76 km

– Additional funding for the Lagos–Shagamu–Ijebu-Ode–Ore corridor

– Design changes in Niger (binder crossing and a new strand bridge)

– The award of Sokoto–Badagry Section 2 (to Kebbi) for N961 billion, with 120 km already completed in Sokoto.

He added, “Today, the FEC approved the review of projects in Borno and Adamawa. The Biu–Numan Road project was initially awarded in 2020 for 45 km at N15.43 billion and has now been revised to N61.76 billion, while maintaining the 45 km scope for the Biu–Numan Road in Borno and Adamawa.

“The second project approved was the Maraba KV Road, which spans 43.6 kilometres and is dualised.

“We also revisited the Sokoto–Badagry project. Previously, in August 2024, we awarded a contract for 258 km in Kebbi for one carriageway, amounting to N940.7 billion. Today, we awarded the second carriageway in Kebbi for 258 kilometres, three lanes, at N961 billion, along with an additional 120 kilometres for N456 billion in Sokoto.

Currently, we have completed 220 kilometres in Sokoto at approximately N920 billion. In Kebbi, the project covers 258 km, bringing the total for Kebbi to roughly N2 trillion. This construction has now been approved by the FEC,” Umahi explained. I

In response to the recent tragedy at the Keffi Flyover, Umahi expressed his condolences, confirmed that the Federal Government has settled with the affected families, and stated that reconstruction is underway, with the bridge currently closed to traffic.

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Nigerians Are Hungry And Unhappy With Tinubu – Fayemi

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President Bola Tinubu
President Bola Ahmed Tinubu
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Former Ekiti State Governor Kayode Fayemi has criticised President Bola Tinubu’s administration, stating that many Nigerians are suffering under the current economic conditions and are unlikely to support the government in the upcoming general election.

In a video obtained by the Guardian, Fayemi spoke in Yoruba, lamenting the levels of hunger and financial hardship in the country. He pointed to deteriorating infrastructure and the federal government’s neglect of key development efforts.

“Let’s not deceive ourselves; Nigerians are not happy with the Federal Government due to hunger and a lack of money,” he stated.

Fayemi highlighted the poor condition of federal roads in Ekiti, specifically mentioning the route from Efon Alaaye through Erio and the road from Omuo Ekiti through Ilasa to Ayedun Ekiti, emphasising the struggles faced by commuters.

He also criticised the Federal Government for its refusal to refund the N18–20 billion spent by his administration on the Ado-Iyin road project, arguing that these funds could have been reinvested into other road projects if reimbursed. “The Federal Government said they didn’t send us to build the road, so no refund was made,” he added. “If they had refunded the money, wouldn’t the governor have used it to complete phase two of the road?”

Fayemi made these comments during a public event attended by the Speaker of the Ekiti State House of Assembly, Adeoye Aribasoye, and lawmaker Tope Longe.

While he acknowledged the necessity of reforms such as the removal of fuel subsidies, he criticised their abrupt implementation without sufficient measures to cushion the impact on citizens facing rising living costs and inflation. He also pointed out the alarming delays in the release of funds to federal ministries and agencies, stressing that good intentions alone are not enough for effective governance.

 

S: Guardian

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