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JUST IN: House of Representatives passes Tax Reform Bills

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The House of Representatives has passed for the third reading the four Tax Reforms Bills the National Assembly received last October from the Executive arm of government.

The House, during plenary last Thursday, considered and approved the report of its Committee on Finance that worked on the Bills and the submissions received from Nigerians.

The Bills had generated a lot of controversy: northern leaders, the Nigeria Governors’ Forum (NGF) and other interest groups opposed some sections of the Bills.

During yesterday’s plenary, House Leader Julius Ihonvbere moved for the Bills to be read for the third time.

He noted that “a Bill for an Act to Provide for the Assessment, Collection of, and Accounting for Revenue Accruing to the Federation, Federal, States and Local Governments; Prescribe the Powers and Functions of Tax Authorities, and for Related Matters” be read for the third time.

Ihonvbere also moved “That A Bill for an Act to Repeal the Federal Inland Revenue Service (Establishment) Act, No.13, 2007 and Enact the Nigeria Revenue Service (Establishment) Bill to Establish Nigeria Revenue Service, charged with Powers of Assessment, Collection of, and Accounting for Revenue Accruable to the Government of the Federation and for Related Matters be read for the third time;

“A Bill for an Act to Establish Joint Revenue Board, the Tax Appeal Tribunal and the Office of the Tax Ombud, for the Harmonisation, Coordination and Settlement of Disputes arising from Revenue Administration in Nigeria and for Related Matters be read for the third time;

“A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks Relating to Taxation and Enact the Nigeria Tax Act to Provide For Taxation of Income, Transactions and Instruments, and for Related Matters be read for the third time”.

Members unanimously voted on the four Bills and they were read for the third time and passed.

The Bills will now be forwarded to the President for assent after their passage by the Senate and possible harmonasation of the Red and Green Chambers’ version.

The Bills had attracted serious opposition from members of the House, especially those from the North who argued that some provisions in the Bills were not in the interest of their people.

After a series of engagements brokered by Speaker Tajudeen Abbas, the House held a three-day public hearing followed by an eight-day retreat for members to fine-tune and collate the views of Nigerians before submitting their report to the House.

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Bill Gates to give away 99% of his wealth

“I have decided to give my money back to society much faster than I had originally planned,” Gates, 69, wrote in a statement.

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The Gates Foundation plans to give away $313 billion over the next 20 years before shutting down entirely in 2045.

The move, according to Bloomberg, marks a new deadline for one of history’s largest and most influential charities.

That target would represent a doubling in spending for the non-profit foundation which has disbursed more than $100 billion since it was co-founded by Microsoft Founder Bill Gates and Melinda Gates in 2000.

Originally, the foundation was set to close 20 years after Gate’s death.

“I have decided to give my money back to society much faster than I had originally planned,” Gates, 69, wrote in a statement.

“I will give away virtually all my wealth through the Gates Foundation over the next 20 years to the cause of saving and improving lives around the world,” he added.

Credit: Bloomberg

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Peter Obi’s Comparison of Nigeria’s Educational System With Bangladesh, Turkiye

Bangladesh, which once lagged behind Nigeria in virtually every measurable development index, now surpasses us in all key areas of development and in the Human Development Index (HDI).

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Peter Obi wrote on his X( Twitter) : “I just came across the official results from JAMB showing the recent exam figures.

In the data shared by JAMB, a total of 1,955,069 candidates sat for the exam.

Shockingly, out of this number, only about 420,000 candidates scored above 200, while over 1.5 million scored below 200.

This means that over 78% of the total candidates failed to meet the 200-mark threshold — a reflection of the deep-rooted challenges in our educational system.

The latest JAMB results once again highlight the consequences of decades of underinvestment in education, a sector that should be central to our national development strategy.

Currently, Nigeria’s total university enrollment stands at approximately 2 million students.

By comparison, the National University of Bangladesh — a single university — has over 3.4 million students enrolled, despite the country having only about 75% of Nigeria’s population.

One university in Bangladesh surpasses the entire university enrollment in Nigeria.

Bangladesh, which once lagged behind Nigeria in virtually every measurable development index, now surpasses us in all key areas of development and in the Human Development Index (HDI).

Similarly, Turkey (now Turkiye), with a population of about 87.7 million people, has over 7 million university students — more than three times Nigeria’s total university enrollment.

I have consistently said it: education is not just a social service; it is a strategic investment.

It is the most critical driver of national development and the most powerful tool for lifting people out of poverty.

We must now invest aggressively in education — at all levels — if we are serious about building a prosperous, secure, and equitable Nigeria.”

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BREAKING: Cardinal Robert Prevost elected new Pope

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The Catholic Church has a new leader. Cardinal Robert Prevost, an American-born cleric and seasoned Vatican official, has been elected Pope, taking the name Leo XIV.

The announcement was made from the balcony of St. Peter’s Basilica on Wednesday following the traditional white smoke signaling the successful conclusion of the papal conclave.

Prevost, 69, becomes the first American-born Pope in the Church’s two-thousand-year history, marking a significant moment for Catholics in the United States and around the world.

He succeeds Pope Francis, who died on Easter Monday, April 21, 2025, at the age of 88.

A native of Chicago, Illinois, Pope Leo XIV is a member of the Order of St. Augustine and is widely respected for his quiet but firm leadership style, deep theological grounding and global pastoral experience.

In 2023, Prevost was appointed Prefect of the Dicastery for Bishops, overseeing the selection and supervision of bishops around the world.

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