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Tax reform will boost workers’ welfare – Fed Govt

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The proposed Tax Reform Bills will significantly improve the quality of life for workers, the Federal Government has reaffirmed.

In response to misgivings expressed by the Nigeria Labour Congress (NLC) Joe Ajaero, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele outlined key measures embedded in the bills.

He said lowly-paid workers earning around N1 million annually (approximately N83,000 monthly), would enjoy full exemption from the Pay As You Earn (PAYE) tax. This policy would cover nearly one-third of workers in both the public and private sectors.

For middle-income earners, the bills propose reduced PAYE tax rates for those earning up to N20 million annually (about N1.7 million per month), benefiting an additional 60 percent of Nigerian workers.

Members of the armed forces actively engaged in combating insecurity will also receive PAYE tax exemptions alongside other ranks.

To mitigate the rising cost of living, the bills propose eliminating Value Added Tax (VAT) on essential goods and services, including food, healthcare, and education, which account for approximately 60 percent of all household consumption.

Other items such as transportation, renewable energy, compressed natural gas (CNG), baby products, sanitary towels, and fuel products, representing over 20 percent of household consumption, are also exempted.

Oyedele explained that these measures would address nearly 82 percent of household expenses and up to 100 percent for low-income earners.

The tax reform bills include provisions to incentivize better compensation for workers. These include tax breaks for wage awards and transport subsidies targeting low-income earners.

Furthermore, the bills aim to simplify processes by removing bureaucratic restrictions on wage awards and introducing caps on taxable benefits granted to workers.

Oyedele explained that the reforms propose VAT exemptions on rent and property acquisition to promote affordable housing. Stamp duties on rents below N10 million would also be waived to alleviate housing-related financial burdens.

The tax reforms also prioritize employment creation through various incentives. These include tax benefits for employers hiring more workers, tax-friendly rules to attract remote work opportunities for Nigerians, and tax exemptions for 97 percent of Small and Medium Enterprises (SMEs).

The harmonization and reduction of tax rates for large businesses are expected to stimulate growth, creating more job opportunities.

Acknowledging that the tax bills could be refined further, Oyedele noted the importance of robust debates and stakeholder engagements during the legislative process.

“The bills in their current form are the most pro-workers tax reforms in Nigerian history,” he stated, urging the NLC to collaborate in identifying areas for improvement.

“We believe the NLC will not intentionally work against the interest of its members. We look forward to discussing specific areas to better serve the interest of all Nigerians, including workers,” Oyedele added.

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Business

Entrepreneurship: “How I Made N10m Monthly From Akara Burger” – Gov Eno

The business attracted strong patronage from workers, especially those heading to ExxonMobil in the morning.

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Governor Umo Eno of Akwa Ibom State has revealed that a food business he started with akara and bread was generating at least N10 million monthly before he ventured into politics.

Eno said his experience in the business demonstrated how a modest venture could be developed into a substantial enterprise through innovation and patronage.

The governor’s disclosure during the state’s monthly covenant prayer service, was triggered by comments from First Lady Oluremi Tinubu, who had encouraged Nigerians to consider petty businesses, including akara, roasted corn and kuli kuli, as avenues for improving livelihoods.

Gov Eno , reflecting on his entrepreneurial experience before he entered public office, said that he initially sold akara and bread, which he branded “Akara Burger”, before expanding the venture into a coffee shop.

According to him, the business attracted strong patronage from workers, especially those heading to ExxonMobil in the morning.

He said customers would buy the akara and bread combination alongside coffee before proceeding to work, helping the business grow into a major source of income.

“At a point, that business was making not less than N10 million every month,” Eno said.

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Forest Sector Employs 42m People Globally – FAO

According to the report, the 42 million jobs are distributed across Africa, the Americas, Asia, Europe and Oceania, highlighting the forest sector’s significant contribution to global employment and livelihoods.

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• A farmer carrying harvested banana / FAO


The global forest sector provides employment for approximately 42 million people, spanning activities within forests as well as industries, services and supply chains dependent on forest resources, a new international study has revealed.

The study was jointly conducted by the Food and Agriculture Organization of the United Nations (FAO), the International Labour Organization (ILO) and the Thünen Institute of Forestry of Germany.

According to the report, the 42 million jobs are distributed across Africa, the Americas, Asia, Europe and Oceania, highlighting the forest sector’s significant contribution to global employment and livelihoods.


FAO said the new data provides an important basis for understanding the human dimension of forests, noting that previous estimates were hampered by fragmented data and incomplete country coverage.


“Until now, however, fragmented data and incomplete country coverage have left significant gaps in the global picture – and no breakdown by gender,” FAO said.


The organisation noted that discussions about forests often focus on their products and environmental benefits, while their role as workplaces and sources of livelihoods receives comparatively less attention.


“When we talk about forests, we tend to focus on what they provide – wood, non-wood forest products, raw materials, and the foundation of a sustainable bioeconomy. Rarely do we talk about them as workplaces. And rarer still do we ask who, exactly, works in them,” FAO stated.
The agency stressed that reliable employment data is critical to the development of policies aimed at building a sustainable and inclusive green economy.
It said internationally comparable data on forest-sector employment would enable governments and policymakers to better understand the people whose livelihoods depend on forests and develop policies that protect both workers and forest resources.
Beyond employment, forests provide ecosystem services that are vital to environmental sustainability and economic development. They also supply renewable resources that form the foundation of emerging sustainable bioeconomies.

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BREAKING: Uber winds down operations in Nigeria, effective September 2

“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.”

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• An Uber driver at work

Ride-hailing company, Uber, has shut down its operations in Nigeria.

In a statement, the company, which came into Nigeria in 2014, said its exit is effective from September 2, 2026.

“After a thorough review, we have taken the difficult decision to wind down operations in Nigeria, effective September 2, 2026.”

“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.

“Whether it was a morning commute, a ride to see loved ones, or exploring the city, thank you for trusting the platform to connect you to a driver to get you there safely. We know this may cause disruption to your routine, and we sincerely apologize for the inconvenience.”

Uber said said its plan is to support drivers, riders and local team members through the transition.

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