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House softens stance on Tax Reform Bills

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The House of Representatives has softened its stance on the Tax Reform Bills.

Yesterday, after a three-hour generally positive debate by members, the Bills scaled second reading and passed for public hearing.

This is unlike the situation when the Bills were sent by President Bola Ahmed Tinubu to the Green Chamber in October.

Following opposition from a section of the ruling class, the House exploded in uproar over the Bills, forcing Speaker Abbas Tajudeen to dissolve the House into and Executive session after which all issues on the Bills were kept in ambiance to allow for consultations.

But at the Senate, the Bills were quickly debated and moved to the public hearing stage.

The Bills are the Nigeria Revenue Service (Establishment) Bill, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, and the Joint Revenue Board (Establishment) Bill.

The bills were consolidated into one at the House for a seamless debate.

The proposed laws were read for the first time on October 8 but debate by the House was put on hold due to disagreement on the content of the bill, especially by Northern leaders and the Nigerian Governors’ Forum (NGF).

Although the House engaged government officials on the benefits of the bills, Speaker Tajudeen asked members to engage in wide consultations with their constituents to pave the way for a robust debate.

Apart from some observations on certain areas of the bills that appeared not in tandem with some sections of the 1999 Constitution and a few other clauses, members unanimously okayed the bills for a second reading.

Minority Leader Kingsley Chinda said while opposition members supported the spirit behind the bills, some had issues with certain aspects.

Chinda noted that the bills seek to rejig the nation’s tax system for effective revenue generation. He pointed out that for every law, there must be the spirit of the letters.

He said: “We have all agreed that the spirit behind the four bills is good.‘’

But we have issues with some of the letters of the bills. Why we oppose some letters of the bills, we support the spirit and want to assure Nigerians that we will watch those letters and at the appropriate time, we will ensure that the letters are corrected in the interest of Nigerians.

“He advocated a reduction in the Value Added Tax(VAT), saying ‘’It is possible to reduce tax, while efforts should be made to tidy up all areas of conflicts..’’

House Leader Julius Ihonvbere thereafter set the tone for the debate by explaining that the bills were intended to overhaul the country’s outdated tax laws.

Ihonvbere reassured the public that the reforms would benefit ordinary Nigerians without imposing tax burdens on the poor.

While appreciating those who hold opposing views to the bills, he said their views helped strengthen the bills.

The House leader charged members to “be part of history in reforming the tax system to promote revenue growth, increase employment and better the life of ordinary Nigerians.

Minority Whip, Ali Isa commended Speaker Abass for creating an opportunity for members to engage and consult widely on the contentious parts of the bills.

Isa however expressed concern about clause 146 which encourages a gradual increase in VAT from 7.5 percent to 10 percent and later 15 percent.

International

JUST IN: Trump Sacks US Ambassador To Nigeria, Others

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The Trump administration has recalled the United States Ambassador to Nigeria, Richard M. Mills Jr., as part of a broader shake-up involving nearly 30 career diplomats serving in ambassadorial and senior embassy posts around the world.

Mills, who assumed his post in Nigeria in July 2024 during the Biden administration, is among the affected envoys who received notices last week that their tenures will end in January 2026. The move aligns with efforts to ensure U.S. diplomatic representatives fully support President Donald Trump’s “America First” foreign policy priorities.

Africa has been the most impacted region, with ambassadors recalled from 13 countries: Burundi, Cameroon, Cape Verde, Gabon, Côte d’Ivoire, Madagascar, Mauritius, Niger, Nigeria, Rwanda, Senegal, Somalia, and Uganda. Other affected regions include Asia (six countries, including the Philippines and Vietnam), Europe (four countries), the Middle East (two countries), and additional posts in South Asia and the Western Hemisphere.

Many of these diplomats were appointed under the previous Biden administration and had initially survived an earlier wave of changes that primarily targeted political appointees. Ambassadors serve at the pleasure of the president and typically hold posts for three to four years, though the administration described the recalls as a “standard process” for any new presidency.

A State Department spokesperson defended the decision, stating: “An ambassador is a personal representative of the president, and it is the president’s right to ensure that he has individuals in these countries who advance the America First agenda.”

The recalls, first reported by Politico, have raised concerns among some lawmakers and the American Foreign Service Association, the union representing U.S. diplomats. The affected career diplomats will return to Washington for potential reassignment but will no longer serve as chiefs of mission in their current postings.

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Tinubu Hails DSS DG Ajayi for Championing Press Freedom in IPI Award Recognition

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President Bola Tinubu has congratulated Mr. Adeola Oluwatosin Ajayi, Director-General of the Department of State Services (DSS), on receiving a commendation award from the Nigerian National Committee of the International Press Institute (IPI) for his outstanding commitment to press freedom.

The prestigious recognition was bestowed on Ajayi during the IPI’s Annual Conference held on December 2, 2025, in Abuja. The organisation praised Ajayi, who assumed office in late August 2024, for demonstrating “an unmistakable commitment to press freedom and respect for journalists and media organisations.

“In a statement, the IPI noted that the award aims not only to acknowledge Ajayi’s commendable record but also to encourage him to build on these efforts and inspire other public officials and institutions to follow suit.

President Tinubu welcomed the honour, commending the DSS chief for promoting press freedom, safeguarding citizens’ rights, and operating strictly within legal boundaries.

He highlighted that under Ajayi’s leadership, the DSS is shifting away from past perceptions of hostility toward the media, instead fostering dialogue and constructive engagement with journalists and the broader public.

The President urged other security agencies and government officials to adopt a similar collaborative approach, treating the media as partners in nation-building rather than adversaries.

He further encouraged the DSS to sustain its positive trajectory, ensuring an enabling environment for journalists to fulfil their constitutional role of holding public officials accountable.

The statement was issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy.

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Business

Heirs Energies Secures $750 Million Financing from Afreximbank for Expansion

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Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has secured a $750 million financing facility from the African Export-Import Bank (Afreximbank).

The deal was finalized during a signing ceremony in Abuja on December 20, 2025, attended by Tony O. Elumelu, CFR, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman of Afreximbank.

This transaction marks one of the largest financings ever obtained by an indigenous African energy firm, underscoring strong confidence in Heirs Energies’ operational track record, governance, brownfield expertise, and future growth potential.

Since taking over operatorship of Oil Mining Lease (OML) 17, Heirs Energies has implemented a rigorous turnaround strategy, emphasizing production recovery, asset integrity, and efficiency gains.

Through targeted interventions and infrastructure upgrades, the company has shifted from acquisition-focused funding to a sustainable capital structure suited to long-term reserve development.

Production has doubled since acquisition, rising from 25,000 barrels of oil per day (bopd) and 50 million standard cubic feet of gas per day (mmscf/d) to more than 50,000 bopd and 120 mmscf/d currently. All gas output is supplied to Nigeria’s domestic market, playing a key role in supporting national power generation.

The company has also overhauled community engagement and upheld top-tier health and safety standards.

The new Afreximbank facility will fund accelerated field development, production optimization, and strategic growth initiatives, all while adhering to strict capital discipline.Tony O. Elumelu, CFR, Chairman of Heirs Energies, commented: “This transaction is a powerful affirmation of what African enterprise can achieve when backed by disciplined execution and long-term African capital.

It reflects the successful journey Heirs Energies has taken—from turnaround to growth—and reinforces our belief in African capital working for African businesses. This is Africa financing Africa’s future.

”Dr. George Elombi, President and Chairman of Afreximbank, added: “Afreximbank is proud to support Heirs Energies at this pivotal stage of its growth.

This financing reflects our confidence in the company’s leadership, governance, and asset base, and aligns with our mandate to support African champions driving sustainable economic transformation across the continent.

”The deal highlights Afreximbank’s commitment to empowering indigenous operators capable of advancing energy security, sustainable development, and economic value throughout Africa.

With this funding in place, Heirs Energies is well-positioned for its next growth phase, prioritizing operational excellence, responsible resource management, and lasting stakeholder value.

Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, dedicated to addressing the continent’s energy demands while advancing global sustainability objectives. It emphasizes innovation, environmental stewardship, and community development in the evolving energy sector.

The African Export-Import Bank (Afreximbank) is a Pan-African multilateral institution focused on financing and promoting intra- and extra-African trade, supporting industrialization, trade growth, and economic transformation.

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