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Tinubu sets up tax reforms committee, appoints Oyedele chairman

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President Bola Tinubu on Friday approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms.

He appointed the Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers, Mr. Taiwo Oyedele, as committee chairman.

Friday’s 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.

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.

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Anambra Govt Debunks Video of Soludo’s Reelection Visit to Native Doctor

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The Anambra State Government has debunked the misinformation, malicious and deliberately fabricated online publication and social media comments in the video of the recently arrested Native doctor in the state.

In a press statement signed by Christian Aburime, the state Press Secretary to the Governor on June 4, 2025, the State Government debunked the allegations that the Governor of Anambra State, Professor Chukwuma Charles Soludo, CFR, consulted a native doctor regarding his reelection prospects, stressing that the information is totally false.

The statement reads: The attention of Anambra State Government has been drawn to a malicious and deliberately fabricated online publication and social media comments making spurious claims that the Governor of Anambra State, Professor Chukwuma Charles Soludo, CFR, consulted a native doctor regarding his reelection prospects.

The State Government hereby debunks the allegations as totally false. For the interest of the general public, the video clip being maliciously circulated and misrepresented, as evidence of native doctor consultation, was taken during a recent official government meeting with Anambra-based content creators.

The session, facilitated by the Special Senior Assistant to the Governor on New Media, Mazi Ejimofor Opara, was organised to strengthen the partnership between the State Government and the creative industry as part of Governor Soludo’s commitment in encouraging and supporting Anambra’s creative economy.

During the interactive session, content creators were encouraged to showcase their talents, ask questions, and share their concerns about the creative industry in the state.

As part of the presentations, one of the content creators performed a native doctor skit, a common comic genre in Nigerian entertainment, to demonstrate their creative abilities to the Governor and other officials present.

This was purely an entertainment performance by a content creator, not a consultation session. The State Government thus found it deeply disappointing that critics and political opponents would stoop so low as to deliberately fabricate malicious narratives from an innocent entertainment performance and spread misinformation to mislead the public.

Rather than engage in frivolous consultations, Governor Soludo has consistently demonstrated his commitment to developing Anambra’s creative economy through investment plans as part of the state’s economic diversification strategy.

The recently commissioned SOLUTION FUN CITY project is part of such investment plans.

The State Government also clarified that Governor Soludo does not need consultations with any native doctor to win reelection, as he relies solely on the support of Ndi Anambra based on his impressive performance and focus on delivering the SOLUTION AGENDA by transforming Anambra State into a livable and prosperous homeland.

Therefore, the Anambra State Government calls on Ndi Anambra, media channels and social media users to disregard the misinformation concerning the circulated video clip.

The public is also urged to always verify information before sharing or amplifying content and reject malicious stories sponsored to mislead the public.

As always, Governor Soludo remains committed to the development of Anambra State and will not be deterred by the antics of desperate political opponents who have chosen the path of falsehood over constructive engagement.

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Tinubu hosts Gov Adeleke, Davido at Lagos residence (Photos)

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President Bola Ahmed Tinubu welcomed Osun State Governor, Senator Ademola Adeleke, to his Lagos residence for a private meeting on Monday.

Accompanying the governor was his elder brother and renowned businessman, Chief Adedeji Adeleke, along with his son, internationally acclaimed Afrobeats artiste David Adeleke, widely known by his stage name, Davido.

The visit was announced in a post by President Tinubu’s Special Assistant on Social Media, Dada Olusegun, who shared details on X on Tuesday.

“President Bola Ahmed Tinubu receives in audience H.E. Ademola Adeleke, the Executive Governor of Osun State, along with Chief Adedeji Adeleke and his son, Afrobeats icon Davido, at his Lagos residence,” Olusegun wrote.

As of the time of filing this report, the reason for the courtesy call had not been made public, and no official statement has been issued either by the Presidency or the Adeleke family.

Images from the visit have surfaced on social media, capturing moments from the closed-door meeting between the President and the Adeleke family members.

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Nigeria should fence its borders for security, says defence chief

Nigeria shares borders with four countries: Niger Republic, Cameroon, Benin, and Chad. All of these neighbouring countries are currently dealing with different levels of insecurity and conflict.

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Christopher Musa, Nigeria’s chief of defence staff, has called for the country to build fences along its borders to improve national security.

Speaking at a security conference in Abuja on Tuesday, Musa stressed the need for better control of Nigeria’s borders.

He pointed out that other countries like Pakistan and Saudi Arabia have had to fence their borders with Afghanistan and Iraq because of security problems.

Musa said Nigeria needs to fully secure and control its borders, explaining that the country’s wealth and natural resources are attracting insurgents and criminals.

“It is Nigeria that everybody is interested in. That is why we need to secure fully and take control of our borders. It is critical for our survival and sovereignty.”

Nigeria shares borders with four countries: Niger Republic, Cameroon, Benin, and Chad. All of these neighbouring countries are currently dealing with different levels of insecurity and conflict.

BusinessDay

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