News
Tinubu sets up tax reforms committee, appoints Oyedele chairman

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.
News
JUST IN: President Tinubu to Embark on Working Visit to Paris

President Bola Ahmed Tinubu will depart for Paris, France, today on a short working visit.
This information was stated in a press release today, April 2, 2025 by Bayo Onanuga, the Special Adviser to the President on Information & Strategy.
Onanuga said during the President’s visit, he will appraise his administration’s mid-term performance and assess key milestones.
“He will also use the retreat to review the progress of ongoing reforms and engage in strategic planning ahead of his administration’s second anniversary”.
“This period of reflection will inform plans to deepen ongoing reforms and accelerate national development priorities in the coming year”.
“Recent economic strides reinforce the President’s commitment to these efforts, as evidenced by the Central Bank of Nigeria reporting a significant increase in net foreign exchange reserves to $23.11 billion—a testament to the administration’s fiscal reforms since 2023 when net reserves were $3.99 billion”.
“While away, President Tinubu will remain fully engaged with his team and continue to oversee governance activities. He will return to Nigeria in about a fortnight, the statement reads.
Business
Algiers-Abuja direct flights begin April 6

The Ministry of Foreign Affairs on Wednesday, announced the launch of Air Algérie’s inaugural direct flight service from Algiers to Abuja, set to begin on April 6, 2025.
This is said to strengthen the diplomatic and economic ties between Nigeria and Algeria.
According to a statement signed by the Acting Spokesperson for the Ministry, Kimiebi Ebienfa, the new route, which is the result of the Bilateral Air Services Agreement between the two countries, will be operated by the national carrier, Air Algérie, using a Boeing 737 aircraft.
This new service is expected to boost connectivity, encourage tourism, and facilitate trade and investment between Nigeria and Algeria.
“The Ministry of Foreign Affairs is pleased to announce the commencement of Air Algerie’s inaugural direct flight service from Algiers to Abuja, scheduled for 6th April 2025.
“This historic development marks a significant milestone in the growing diplomatic and economic relations between Nigeria and Algeria.
“It is pertinent to state that it is the implementation of the Bilateral Air Services Agreement between both countries, which culminated in this successful venture,” the statement read in part.
The inaugural flight is expected to carry the Charge d’Affaires of the Nigerian Embassy in Algiers, Nigerian community leaders, and representatives from the Algerian government.
The Federal Government has extended congratulations to Air Algérie and offered its full support to ensure the success of the new service.
With affordable fares and Algeria’s proximity to Europe, the flight also offers Nigerians a convenient gateway to Europe, enhancing Nigeria’s position as a regional hub for business, tourism, and transit.
The statement added, “The Federal Government of Nigeria, through the Ministry of Foreign Affairs and relevant aviation authorities, extends its warm congratulations to Air Algerie and assures all necessary support to ensure the success and sustainability of this new service.
“We believe this initiative will further strengthen the longstanding friendship between Nigeria and Algeria, while opening new opportunities for mutual growth.
“The affordable fare structure and the proximity of Algeria to Europe would also provide Nigerians with a convenient gateway to Europe, thereby enhancing Nigeria’s position as a regional hub for business, tourism, and transit.”
The ministry encouraged citizens and businesses to take advantage of this new connectivity to explore opportunities for trade, tourism and cultural exchanges between the two nations.
Crime
Lynched travellers: Tension in Edo as DSS arrests principal suspects

Operatives of the Department of State Security have arrested two principal suspects involved in the killing of 16 Nigerians of northern extraction in Uromi, Esan North East Local Government last week.
According to a statement by the Chief Press Secretary to Governor Monday Okpehbolo, Fred Itua, the suspects were arrested by operatives of the DSS in Uromi, following credible intelligence.
He noted that operatives of various security agencies were hunting for other key suspects involved in the unfortunate incidents.
He said, “Operatives of the Department of State Security have arrested two principal suspects involved in the killing of 16 Nigerians of northern extraction in Uromi, Esan North East Local Government last week.
“The suspects were arrested by operatives of the DSS in Uromi, following credible intelligence. Operatives of various security agencies are hunting for other key suspects involved in the unfortunate incidents.
”In the latest development, the two principal suspects arrested by officials of the DSS have been transferred to Abuja, the nation’s capital, for further interrogation and prosecution by the relevant authorities.
According to reports, the 14 suspects arrested in connection with the killings have been transferred to Force headquarters while investigation continues on the matter.
The transfer of the suspects to Abuja was in compliance with the directive of the Inspector-General of Police.
“I can confirm to you that the suspects have been taken to Abuja as directed by the IGP and investigation into the matter is still ongoing.
”Itua also said he could not confirm if the compensation promised the family of the victim would be financial.
He, however, said the Edo and Kano governments were working together to fashion out a suitable compensation for the family of the victims.
“As you are aware, Governor Okpehbolo met with the Kano State Government and visited the families of the I6 people that were killed, where he promised compensation.
“I cannot say what form the compensation will take but both state governments are talking to ensure that the victims’ families are compensated.
”A resident of Uromi, who gave his name simply as Michael, said residents of the area, where the killings took place, were deserting their villages over fear of being arrested.
He stated that women thronged the Ojuromi of Uromi palace to protest the indiscriminate arrest of people in Uromi following the killings of the 16 travellers.
He said, “What is happening now is that people are leaving their houses where the killing took place for fear of being arrested by the police, who have been mandated to fish out all the culprits.
“I believe the protest by the women on Monday is in connection with the indiscriminate arrest of residents by security agencies.”
Meanwhile, the Edo State chapter of the All Progressives Congress has claimed that some major opposition political parties were planning to instigate a crisis in the state and make it ungovernable.
The state APC chairman, Jarret Tenebe, stated this during a news conference on Tuesday in Abuja.
“It has come to our attention that the leadership of some major opposition parties in our state, along with two others, has devised a reckless and dangerous plot to instigate crisis and make Edo ungovernable,” he said.
Tenebe alleged that the aim of those behind the plot was to force President Bola Tinubu to declare a state of emergency in the state.
“Their sinister objective is clear: they want to force President Bola Tinubu to declare a state of emergency in Edo, because they have no confidence in securing victory at the Edo Election Petition Tribunal.
The News Agency of Nigeria reports that the tribunal will, on Wednesday, deliver judgment in the petition filed by the PDP candidate, Asue Ighodalo, against the outcome of the Sept. 21, 2024 governorship election in the state.
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