News
BREAKING: Nigeria Governors Agree on No VAT, CIT Increase For Now
Nigeria Governors Forum (NGF) agreed at the end of subnational meeting today in Abuja that there should be “No hike in VAT, and No reduction in corporate Income tax CIT) for now. This is to maintain economic stability.
This is disclosed in a communique issued today and signed by Abdulrahman Adbdulrazaq, Chairman of the NGF & Governor of Kwara State.
The governors, at the end of a meeting of subnational consultations and engagement, on Thursday in Abuja, with the Chairman of Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, said that the Forum have also endorsed a revised VAT sharing formula to ensure equitable distribution of resources of 50% based on equality, 30% based on derivation, and 20% based on population.
The governors have resolved that there should be no increase in the VAT rate or reduction in Corporate Income Tax (CIT) at this time in order to maintain economic stability.
Also, they have called for the continued exemption of essential goods and agricultural produce from VAT as that would help safeguard the welfare of citizens and promote agricultural productivity.
They also, at the end of the meeting, recommended that there should be no terminal clause forTertiary Education Trust Fund, TETFUND; National Agency for Science and Engineering Infrastructure, NASENI, and National Information Technology Development Agency, NITDA, in the sharing of development levies in the bills.
The meeting supports the continuation of the legislative process at the National Assembly that will culminate in. the eventual passage of the Tax Reform Bills.
News
ALLEGED CONTEMPT: INEC CHAIRMAN ABSENT, COURT FIXES OCTOBER 8
The lawsuit is instituted by Edozie Njoku, Chairman of the National Rescue Movement (NRM), who was accusing the INEC boss of flouting an order of mandamus directing INEC to accept the outcome of an emergency convention that produced him.
The Chairman of Nigeria’s electoral body INEC, Prof Mahmoud Yakubu, failed to show up when a case of contempt against him came up for mention at the Federal High Court in Abuja on Friday.
The lawsuit is instituted by Edozie Njoku, Chairman of the National Rescue Movement (NRM), who was accusing the INEC boss of flouting an order of mandamus directing INEC to accept the outcome of an emergency convention that produced him.
At the proceedings, Alhassan Umar, counsel for Professor Yakubu informed the Court of a pending application challenging the jurisdiction of the court.
But this was contested by NRM’s lawyer, Oladimeji Ekengba ought to have been present as it is a criminal case.
Justice Obiora Egwuatu subsequently adjourned the case till October 8.
News
FG Immortalizes Buhari renaming UNIMAID after him
UNIMAID will now be known as Muhammadu Buhari University, Maiduguri.
President Bola Ahmed Tinubu on Thursday announced that the University of Maiduguri would be renamed in honour of the late leader, Muhammadu Buhari.
UNIMAID will now be known as Muhammadu Buhari University, Maiduguri.
Presiding over the FEC session, President Tinubu delivered a stirring tribute, celebrating Buhari’s life as one defined by discipline, moral fortitude, and unwavering patriotism.
He described Buhari not as a perfect man—no leader is—but as a good, decent, and honourable man.
While acknowledging that Buhari’s record, like all legacies, will be subject to debate, Tinubu insisted that the character he brought to public life, the moral force he carried, and the incorruptible standard he represented will not be forgotten.
A high court in Ebonyi State has ordered the release of 24 members of the Indigenous People of Biafra (IPOB) after they were held in detention for four years.
The ruling on Thursday marks a significant development in the ongoing legal proceedings involving the group.
The 24 IPOB members were discharged and acquitted by Justice I. P. Chima of Ebonyi State High Court.
It was gathered that they were among the last batch of the IPOB detainees out of the 36 held since May 4 2020.
Meanwhile, their lawyer and human rights activist, Ifeanyi Ejiofor, confirmed their freedom in a statement titled, “Justice Delayed, But Never Denied.”
According to him, the ruling followed the preliminary objection which highlighted the brazen violation of their fundamental rights: particularly the constitutionally guaranteed protection against double jeopardy, enshrined under Section 36(9) of the 1999 constitution of the Federal Republic of Nigeria (as amended).
Ejiofor said the sacred principle, “autrefois acquit”, stipulates that no person shall be tried again for an offence in respect of which they have previously been acquitted.
Wema Bank’s Digital Bank, ALAT, Emerges Nigeria’s Best Digital Bank @ Euromoney Awards 2025
ALLEGED CONTEMPT: INEC CHAIRMAN ABSENT, COURT FIXES OCTOBER 8
FG Immortalizes Buhari renaming UNIMAID after him
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
News2 days agoMeta Tightens Content Policies, Removes 10 Million Fake Accounts
-
News3 days agoBuhari laid to rest in Daura amid tears
-
News2 days agoJUST IN: Court Discharges Ex-Ekiti Governor Fayose of ₦6.9bn Money Laundering Charges
-
News2 days agoFEC Hold Session of Tributes for Buhari, Tomorrow
-
Entertainment2 days agoDavido’s ‘Timeless’ album wins silver certification in the UK
-
Politics2 days agoBREAKING NEWS: Atiku Abubakar Resigns from PDP
-
News2 days agoThe Patriots Summit for New Constitution Begins Today in Abuja
-
News1 day agoJUST IN: NIMASA closes two terminals in Lagos over ISPS Code violations