Business

BREAKING: President Tinubu To Overhaul Multiple Taxes, Other anti- Investments Policies

Published

3 years ago

May 29, 2023

489 Views

‘I have a message for our investors, local and foreign: our government shall review all their complaints about multiple taxation and various anti-investment inhibitions.”

That’s President Bola Ahmed Tinubu, in his inaugural speech today, in Abuja.

Tinubu was sworn in as Nigeria’s 16th President, by the Chief Justice of Nigeria, Kayode Ariwoola, at the Eagle’s Square, Abuja.

Stressing on his administration’s economic thrusts, he said : ” We shall ensure that investors and foreign businesses repatriate their hard earned dividends and profits home.
He also said , ” on the economy, we target a higher GDP growth and to significantly reduce unemployment.

” We intend to accomplish this by taking the following steps:

First, budgetary reform stimulating the economy without engendering inflation will be instituted.

Second, industrial policy will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.

Third, electricity will become more accessible and affordable to businesses and homes alike. Power generation should nearly double and transmission and distribution networks improved. We will encourage states to develop local sources as well.

JOBS

My administration must create meaningful opportunities for our youth. We shall honour our campaign commitment of one million new jobs in the digital economy.
Our government also shall work with the National Assembly to fashion an omnibus Jobs and Prosperity bill.
” This bill will give our administration the policy space to embark on labour-intensive infrastructural improvements, encourage light industry and provide improved social services for the poor, elderly and vulnerable,” he said.

Tinubu’s Profile
Tinubu started out as a technocrat; a seasoned accountant.

During his sojourn abroad, he worked for American companies Arthur Andersen, Deloitte, Haskins & Sells and GTE Services Corporation.

And upon his return to Nigeria in 1983, he joined Mobil Oil as an auditor.
He rose through the ranks to become an executive of the company.
He began to make inroads into the political Hall of Fame in 1992 when he was elected senator representing Lagos West Senatorial District in the short-lived third National Assembly.

He then joined forces with the National Democratic Coalition (NADECO), a coalition of democrats demanding the military government led by General Sani Abacha to step down for the acclaimed winner of the 12 June 1993 election, the deceased Chief MKO Abiola.

After four years in exile, Tinubu returned to the country in 1998 to contest the governorship election in Lagos – his home state – as Nigeria prepared for a transition to democratic rule.

A two-term governor, Tinubu prides himself as the brain behind the transformation of Lagos from the doldrums to one of the largest economies in Africa.

And so do many of his allies who vigorously campaigned for his presidency based on this accomplishment.
He was behind the creation of the Lagos Free Zone, Ibeju Lekki.

Related Topics:Multiple Taxes Overhaul Tinubu

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Business

Johnson & Johnson Willing To Pay $5.5bn To End Baby Powder Lawsuits Against The Company

The proposed settlement encompasses approximately 76,000 claims, including those consolidated in federal court in New Jersey and related cases in state courts, representing nearly all outstanding talc-related allegations against the company.

Published

4 hours ago

July 29, 2026

OCHEFA

20 Views

Johnson & Johnson has announced a provisional settlement of an estimated $5.5 billion to resolve tens of thousands of lawsuits alleging its talc-based products, including baby powder, caused ovarian cancer.

J&J had previously settled the majority of cases asserting that its talc contained asbestos and led to mesothelioma

The landmark agreement could bring an end to a contentious legal battle that has plagued the pharmaceutical giant for a decade.

The Independent UK reported yesterday. Plaintiff law firms confirmed the deal, describing it as a positive resolution following the protracted court proceedings.

For the agreement to become final, it requires acceptance from 95 per cent of the ovarian cancer claimants across state or federal jurisdictions.

Erik Haas, J&J’s Vice President of Litigation, maintained that the claims were “meritless” but stated the company was willing to settle to achieve “closure.”

Business

FG Availing ₦3.6bn to 200,000 Tailors Nationwide

Dr Afiz Ogun, Director-General of the ITF, announced the approval during the nationwide screening of applicants for the 2026 edition of the SUPA Programme in Abuja.

Published

7 hours ago

July 29, 2026

OCHEFA

26 Views

Image credit: Bella Naija

The Federal Government has launched a ₦3.6 billion funding to support about 200,000 tailors under the Industrial Training Fund’s (ITF) Skill Up Artisans (SUPA) Programme.

Dr Afiz Ogun, Director-General of the ITF, announced the approval during the nationwide screening of applicants for the 2026 edition of the SUPA Programme in Abuja.

He said that the screening is designed to ensure only genuine artisans benefit.

Applicants are assessed on documentation, practical skills, commitment to the trade and readiness for further training.

The programme, launched in 2024, aims to reduce Nigeria’s dependence on foreign artisans by equipping local professionals with modern technical and entrepreneurial skills.

Under a new business incubation model, beneficiaries will receive industrial-grade sewing machines, specialised tailoring equipment, business signboards, mentorship and technical support.

The ITF dropped its previous practice of distributing starter packs after discovering that many beneficiaries sold the equipment instead of using it to build businesses.