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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
200 Kaduna varsity lecturers resign over poor condition of service
Most of the lecturers who left the institution secured appointments in newer universities within and outside Kaduna State.
The Academic Staff Union of Universities (ASUU) has raised concern over the departure of more than 200 lecturers of Kaduna State University, (KASU).
Chairman of ASUU-KASU, Dr Abubakar Abdullahi, disclosed this at a press conference on Monday in Kaduna, lamenting that lecturers, including professors, left the institution due to poor conditions of service and non-implementation of the 2025 Federal Government- ASUU Agreement.
Abdullahi said that most of the lecturers who left the institution secured appointments in newer universities within and outside Kaduna State.
Consequently, the Union has issued a two-week ultimatum to the Kaduna State Government and university authorities to implement and domesticate the agreement.
The union warned that failure to act within the period could result in a total and indefinite strike at the university.
News
Edo House of Assembly Elect New Speaker Idiaye, Hints Why Agbebaku Resign
“Once the leadership is poor, it will drag the work of the governor backwards. So we decided to say no.”
•The new Speaker of the Edo House of Assembly, Mr Yekini Idiaye
The Edo House of Assembly has sworn in a newly elected Speaker , Yekini Idiaye, following the resignation of the former speaker, Blessing Agbebaku.
Speaking in an interview after his swearing-in ceremony in Benin, Idiaye pledged the full cooperation of the house to the state executive, describing Governor Monday Okpebholo as a performing leader who deserved legislative backings.
“He is doing a lot for the people of Edo, so we have to cooperate with him to move the state forward,” he added.
Fielding question on the exit of the former speaker, Idiaye cited the challenges of corruption and poor leadership.
Idiaye said: ” There’s corruption here and there. Every now and then it is adjournment — we resume tomorrow, adjournment for another 30 days, 20 days — and we were all not too happy with this leadership style.”
The new speaker pointed out that a weak legislature directly affected the executive, adding that the house had to act to protect the governor’s performance.
“Once the leadership is poor, it will drag the work of the governor backwards. So we decided to say no.”
News
Defence Headquarters say X Account Compromised
The Director of Defence Information, Major General Samaila Uba, disclosed this in a statement, describing the incident as a cybersecurity matter.
The Defence Headquarters (DHQ) has issued a notification to the public, media representatives, and relevant stakeholders regarding the compromise of its official account on X (formerly known as Twitter).
The Director of Defence Information, Major General Samaila Uba, disclosed this in a statement, describing the incident as a cybersecurity matter.
He said “appropriate technical measures had been activated to secure the account and prevent further unauthorised access.”
Uba assured the public that efforts were ongoing to fully restore control of the account, while advising members of the public to disregard any suspicious, unauthorised or misleading content posted from the account during the period.
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