Business
We are not in a hurry to pass tax reform bills – Akpabio
Our goal is to develop a tax framework that promotes economic prosperity, encourages investment, and strengthens Nigeria’s fiscal sustainability
The President of the Senate, Godswill Akpabio, has assured stakeholders in the business community and beyond that the Red Chamber would be thorough as it is not in a hurry to pass the tax reform bills.
Akpabio gave the assurance during the public hearing on tax reform bills organised by the Senate Committee on Finance, chaired by Senator Sani Musa (APC, Niger).
The four bills are: the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, the Joint Revenue Board Bill, and the Nigeria Tax Bill, which have been passed for a second reading by both the Senate and the House of Representatives.
Stakeholders representative from the different economic sectors presented their recommendations on the bills during the public hearing.
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In response, Akpabio said that after collecting inputs from the public, the committee will thoroughly review the submissions on the proposals and make necessary adjustments before submitting its report for consideration.
“So we are not in a hurry. We want the best for the country. We are not making laws for ourselves. We are making laws for future generations”, he said.
Akpabio emphasised the need to modernise Nigeria’s tax system, aligning it with contemporary realities to foster growth, transparency, and efficiency.
Akpabio described the reforms as a “transformative step forward, and noted that taxation is not merely a government function but a shared responsibility that shapes national prosperity.
“A nation that fails to adapt its revenue system to the realities of our time risks stagnation and decline,” he stated. According to Senator Akpabio, these reforms go beyond legislative formalities.
“They represent a collective effort to establish a tax framework that is robust, transparent, and business-friendly, ensuring that Nigeria’s economy thrives in an increasingly competitive global landscape”, he said.
National interest will guide process – Senate panel
Earlier, the Chairman of the Senate Committee on Finance, Sani Musa said that the committee will be guided by national interest, fairness and inclusivity in handling the proposed tax reform.
He said the committee has acknowledged concerns about alleged marginalisation, disproportionate sharing, and possible biases in tax administration and revenue allocation.
He assured that the process will be thorough, inclusive, and guided by national interest.
“Our goal is to develop a tax framework that promotes economic prosperity, encourages investment, and strengthens Nigeria’s fiscal sustainability.
A fair, transparent, and efficient tax system is fundamental to economic growth and national development.
“As we deliberate, let me emphasise that transparency, fairness, and inclusivity will be our guiding principles,” he said.
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The Federal Government has intensified efforts to protect Nigeria’s pig industry from the growing threat of African Swine Fever, a highly contagious livestock disease.
The Minister of Livestock Development, Idi Mukhtar Maiha, says the government is strengthening biosecurity measures, disease surveillance, and stakeholder collaboration to prevent the spread of the disease and safeguard livestock production nationwide.
Speaking during a technical presentation on the status of African Swine Fever in Nigeria, the Minister commended the Chief Veterinary Officer of the Federation, Dr. Yakubu Yanet Ago, for sharing lessons from a recent study visit to Denmark.
He said that the experiences gained from the visit would help Nigeria develop practical solutions to livestock health challenges and improve preparedness against disease outbreaks.
Maiha highlighted Denmark’s pig traceability and compensation system, where every pig is tracked from birth and farmers contribute to a dedicated fund that provides compensation during disease outbreaks.
According to him, such a model encourages early disease reporting, strengthens transparency, and could be adapted to support Nigeria’s livestock sector.
The Minister also pointed to Denmark’s strict biosecurity measures, including mandatory disinfection of vehicles transporting pigs and controls to prevent contact with wild animals.
He stressed that biosecurity should be viewed as an investment rather than a burden, noting that strict movement controls and farm access restrictions have proven effective in containing disease outbreaks.
To strengthen disease prevention, the Minister directed relevant departments to map livestock movement routes, identify major pig markets and commercial farms, improve animal traceability systems, and deepen collaboration with pig farmers, state governments, and development partners.
He also called for stronger surveillance systems, improved laboratory capacity, and greater investment in veterinary research.
In his remarks, the Chief Veterinary Officer of the Federation, Dr. Yakubu Yanet Ago, described African Swine Fever as a devastating viral disease with mortality rates of up to one hundred percent and revealed that outbreaks have been recorded in about twelve states.
He revealed that the Federal Government’s response focuses on improved surveillance, farmer education, and stronger biosecurity, while urging greater cooperation among all tiers of government, increased funding, and alignment with international disease control strategies to achieve long-term eradication of the disease.
Business
DisCos earn N801bn in four months despite persistent blackouts
In the NERC data, the DisCos billed customers N1.01tn between January and April but recovered N801.16bn, leaving about N207.77bn in uncollected revenue during the period.
Data obtained from the Nigerian Electricity Regulatory Commission (NERC) showed that electricity distribution companies (DisCos) earned a total of N801.16 billion from consumers between January and April 2026.
This was despite persistent power outages and supply constraints across the country.
The commercial performance factsheets released by the regulator showed that the 11 DisCos collected N204.74bn in January, N196.68bn in February, N196.13bn in March and N203.61bn in April, bringing total revenue for the four-month period to N801.16bn.
The collections came even as households and businesses endured months of unstable electricity supply caused largely by gas shortages that crippled power generation and forced widespread load shedding, especially in February and March.
In the NERC data, the DisCos billed customers N1.01tn between January and April but recovered N801.16bn, leaving about N207.77bn in uncollected revenue during the period.
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