News
President Tinubu sets up tax reforms committee, appoints Oyedele chairman

Nigeria’s President, Bola Tinubu has approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms, while appointing the Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers, Mr. Taiwo Oyedele, as committee chairman.
The development comes barely 24 hours after the President signed four Executive Orders, suspending the five per cent excise tax on telecommunication services and the excise duties escalation on locally-manufactured vehicles.
According to the President, the committee “Will comprise experts from both the private and public sectors and have responsibility for the various aspects of tax law reform, fiscal policy design and coordination, harmonisation of taxes, and revenue administration,” a statement signed by Tinubu’s Special Adviser on Special Duties, Communication and Strategy, Dele Alake, read on Friday.
According to the statement titled ‘President Tinubu sets up committee on tax reforms,’ the committee’s primary objective is to enhance revenue collection efficiency and ensure transparent reporting.
It will also promote the effective utilisation of tax and other revenues to boost citizens’ tax morale, foster a healthy tax culture, and drive voluntary compliance.
Alake cited earlier remarks by the Special Adviser to the President on Revenue, Mr Zaccheus Adedeji, who explained that Tinubu recognises the importance of a sound fiscal policy environment and an effective taxation system for the functioning of the government and the economy.
According to Adedeji, “Nigeria ranks very low on the global ease of paying taxes while the country’s Tax to GDP ratio is one of the lowest in the world and well below the African average.
“This has led to an overreliance on borrowing to finance public spending, which in turn limits the fiscal space as debt service costs consume a greater portion of government revenue, annually resulting in a vicious cycle of inadequate funding for socio-economic development.
“While some incremental progress has been recorded over the years, the outcomes have not been transformative enough to change the narrative,” he said.
Adedeji outlined the key challenges in Nigeria’s tax system, including multiple taxes and revenue collection agencies, fragmented and complex tax system, low tax morale, high prevalence of tax evasion, high cost of revenue administration, lack of coordination between fiscal and economic policies, and poor accountability in the utilisation of tax revenue.
Adedeji explained that the administration hopes to transform the tax system to support sustainable development and achieve a minimum of 18 per cent Tax to GDP ratio within three years without stifling investment or economic growth.
“It should be noted that this committee will not only advise the government on necessary reforms but will also drive the implementation of such recommendations in support of the comprehensive fiscal policy and tax reform agenda of the current administration,” the SA on Revenue added.
Oyedele, who chairs the committee, is the Thematic Lead for the Fiscal Policy & Planning Commission and Chairman of the West Africa Debt Management Roundtable of the Nigerian Economic Summit Group.
He also heads the Taxation & Fiscal Policy Faculty Board of the Institute of Chartered Accountants of Nigeria and is a member of the Nigerian Taxation Standards Board.
Oyedele serves as a member of the Ministerial Committee on implementing Nigeria’s National Tax Policy. He is a member of the Global Tax Forum and has previously served as a member of the Global Governing Council of the Association of Chartered Certified Accountants.
Oyedele, an Associate Professor at the Babcock University Business School, is an alumnus of the London School of Economics & Political Science, Yale University, and Harvard Kennedy School Executive Education.
He is also a guest lecturer at the Lagos Business School and the Founder and President of Impact Africa Foundation.
News
Ekiti Airport targets 24-hour flight operation, says Gov Oyebanji

….Says Ekiti economy has improved significantly under his watch
Ekiti State Governor, Mr Biodun Oyebanji has revealed that efforts are in place to ensure the Ekiti Agro-Allied International Cargo Airport runs 24-hour operation, in a bid to make the route competitive.
The Governor also expressed delight that the economy of the state has recorded significant improvement in the past two-and-a-half years, promising to do more in order to ensure a more sustainable development of the state and better living standard for the people.
Governor Oyebanji who stated these on Monday night during the March edition of his monthly media chat, “Meet Your Governor”, said his government intends to make the Ekiti Airport a major hub, as well as a major driver of the economy, attracting more investors to the state and boosting the economic capacities of the citizens.

He explained that his administration has entered into discussions with three major airlines in the country to commence commercial flights at the airport, facilitate air travel, tourism development, more investment and transportation of cargoes and export of farm produce to local and international destinations.

While expressing optimism that at least two of the airlines would operate flights to and from the airport, Oyebanji said his administration also hopes to make the route competitive by working hard to install Instrument Landing System (ILS) that will enable the operation of 24-hour flights in the airport.
The Governor said: “The issue is to make the route profitable and competitive for airlines and if the route is profitable, they will bring their planes. Part of what we are doing is to make it an airport of choice and by next year, they will be able to run Hajj and (Christian) pilgrimage.

“To make it an airport of choice, we must put a structure that guarantees 24-hour landing.
There is what we call Instrument Landing System (ILS) which enables night operations and also enables planes to land in extreme weather.
ILS as at today will cost close to N4.6 billion but we are determined to get it done.
“We are determined that before the end of this year, we will install ILS at the Ado Airport.

If we are able to do that, it will be the second airport in Southwest after Lagos Airport that has such a facility so that aircraft can land at night. We are also talking to a vendor that will provide a hangar for airport services, so it’s a whole gamut of transaction that is going on.
“The Governor also disclosed that a cargo shed is being constructed at the airport to serve as storage facility for farm produce and cash crops. He commended the Senate Leader, Senator Opeyemi Bamidele for facilitating its inclusion in the budget.
The Ekiti Agro-Allied International Cargo Airport was given approval for non-scheduled flight operation for six months last December. Governor Oyebanji who said expressed optimism that the airport would be one of the most competitive by the time it commences commercial operations.
Speaking further, Governor Oyebanji identified some indices of economic growth witnessed under his administration to include springing up of more businesses in the state made possible by an enabling environment for them to flourish, improved internally generated revenue and receipts from the Federation Account, as well as adequate protection of lives and property.
The Governor who disclosed that the state’s Internally Generated Revenue (IGR) have moved from about N600 million monthly to over N2 billion monthly, attributed the feat partly to the fact that more residents are now encouraged to pay their taxes, having seen evidence of the government’s effective utilization of proceeds of the taxes in every part of the state.
He explained that his administration has not restricted development strides to only Ado-Ekiti, the state capital, as it is being speculated in some quarters, noting that virtually all parts of the state including the rural areas have been touched.
He also expressed readiness to keep on working for the people of the state till his last day in office, stressing that he wont be distracted by on going politicking.
Speaking on the state of the treasury, Oyebanji said what the state government and local governments receive monthly are not hidden as they are published by the office of the Accountant General noting that they vary from one month to the other.
He emphasized that his administration does not tamper with the local government funds as the State House of Assembly has an enabling law with established the Joint Account Allocation Committee (JAAC) with the monies for the councils coming directly into the account from the Central Bank of Nigeria (CBN).
While noting that he does not get involved in how the funds are shared, the Governor pointed out that he only monitors the projects the council chairmen execute with the funds to ensure that they are in line with the needs of the people and they such projects are satisfactory.
News
Kogi State enforces ban on rallies, public gatherings amidst riding security concerns

In view of the growing security concerns in Kogi State, the government has announced a ban on all forms of rallies or public gatherings that have the potential to disrupt public peace.
According to a statement on Monday by the Kogi State Commissioner for information and Communication Kingsley Fanwo, the decision comes after reports of planned violent rallies disguised as political and religious agitations surfaced.
The Commissioner averred that the state government has taken proactive measures to prevent any form of security breach that could destabilize the peace and security of the state.
Explaining further, Fanwo said “With recent incidents in various local government areas, including clashes in communities and tensions rising due to planned rallies, the government has deemed it necessary to implement stricter security measures.
“The ban on public gatherings includes suspending all fishing activities in Kogi Local Government Area until peace is completely restored after recent clashes resulted in the loss of lives.
Additionally, security operatives have been deployed to affected areas to restore calm and implement the directive.
“Furthermore, in Ankpa Local Government Area, communal clashes between Ika-Odele and Ika Ochala are threatening the peace in Kogi East. Security personnel have been deployed to the area to calm the situation and avert further loss of lives and property.
“The ban on rallies and public gatherings applies to all individuals, groups, or organizations within the state until further notice. The government acknowledges citizens’ constitutional rights to express themselves but emphasizes that security considerations must take precedence for public safety.
“The state government has also directed that any individual or group entering Kogi State with a convoy of security personnel must obtain prior clearance from state commands to prevent unauthorized movements and ensure the presence of duly accredited security agents.
“To ensure strict enforcement of these measures, the State Security Adviser has been tasked to work closely with all security agencies and maintain high alertness to prevent any breakdown of law and order”.
Fanwo added that the government urged residents to remain law-abiding, vigilant, and cooperative with security agencies to guarantee the safety and well-being of all citizens.
“With the Chief Servant of Kogi State leading efforts to protect lives and property and maintain peace and stability in the state, residents are encouraged to report any suspicious activities or movements to the appropriate security authorities.
The government reassures the public that any attempt to undermine the peace and security of Kogi State will be met with the full force of the law.
“By implementing these measures and collaborating with security agencies and community leaders, the Kogi State Government is committed to safeguarding the state and providing a safe environment for all residents” the statement added.
News
President Tinubu congratulates Jim Ovia on admission to the freedom of the city of London

President Bola Tinubu has congratulated the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, on his admission to the prestigious Freedom of the City of London.
Admission to the Freedom of the City of London is an honour bestowed on individuals for their service to the city or for their achievements.
In a press statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, President Tinubu described the honour as a fitting recognition for Mr Ovia’s exceptional contributions to business, innovation, and technology, as well as for his role in shaping Nigeria’s financial landscape and strengthening economic ties between Africa and the rest of the world.
“This honour is a testament to your unwavering commitment to excellence, your pioneering role in the growth of the financial services sector in Nigeria, and your visionary leadership that continues to inspire generations.
As an accomplished entrepreneur and advocate of innovation-driven development, your recognition in the City of London affirms the global relevance of Nigerian excellence and enterprise”, the President stated.
President Tinubu commended Mr Ovia for being a distinguished ambassador of the nation’s private sector and wished him continued success in his endeavours.
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