President Tinubu has instructed the Justice Ministry to collaborate with the National Assembly regarding issues related to tax reform bills.

In a statement released by Mohammed Idris, the Minister of Information and National Orientation.

The statement reads: “The robust nationwide debate on the new tax reform bills currently before the National Assembly is welcomed, and commendable. It is very inspiring to see Nigerians from all walks of life coming out to express their views and opinions of these matters of critical national importance. This is the very essence and meaning of democracy.

“I call on all commentators and groups to keep up the spirit of informed engagement, and to strive to be respectful and understanding at all times despite the diversity of opinions. In the spirit of democratic engagement, there should be no room for name-calling, or for the injection of unnecessary ethnic and regional slurs into this important national conversation.

“Similarly, it is important to be aware that there is a lot of misinformation and fake news circulating around the tax bills and the overall reform agenda of the Tinubu Administration. The fiscal reforms will not impoverish any State or region of the country, neither will they lead to the scrapping or weakening of any federal agencies.

“Instead, they will bring relief to tens of millions of hardworking Nigerians across the country and empower and position our States and the 774 Local Governments for sustainable growth and development.

“President Bola Ahmed Tinubu is implementing an ambitious fiscal reform agenda that will devolve more resources to Nigeria’s State and Local Governments, and ultimately to the Nigerian people, in the spirif of harnessing democracy that works for the people.

“It is pertinent to state that the government has nothing sinister to warrant the suggestion that the process is being rushed. In line with the established legislative procedure, the Federal General welcomes meaningful inputs that can address whatever grey areas there may be in the bill. In this vein, President Tinubu has already directed the Federal Ministry of Justice and relevant officials who worked on the drafts to work closely with the National Assembly to ensure that all genuine concerns have been addressed before the bills are passed.

“We are indeed witnessing, at this moment in the history of Nigeria, the most far-reaching, impactful and beneficial set of fiscal reforms that Nigeria has seen in decades.

“In addition to the four tax bills being debated and deliberated upon, there is also the 2023 Supreme Court ruling on financial autonomy for local governments, which will significantly empower the tier of government that is closest to the Nigerian people.

“In all, these reforms will not only facilitate increased revenues (without imposing additional tax burdens on the people), they will also make it possible for citizens to demand and enjoy greater accountability in the management of public resources at all levels of government.

“President Tinubu and the administration will continue to champion policies that close the loopholes and gaps through which Nigeria’s valuable public resources have been frittered away for decades.

“On top of this necessary foundation, the resources being conserved and realised from these reforms will be invested in critical infrastructure (healthcare, education, transportation, digital technology, etc) and in social investments that will benefit all Nigerians and ensure that no one is left behind. This is the promise and the reality of the Renewed Hope agenda.”

Governor Siminalayi Fubara of Rivers State has declared his intention to present the state’s 2025 budget to the State House of Assembly, led by Victor Oko-Jumbo.

Fubara delivered this remark during the official inauguration of two state-of-the-art community town halls, as well as the introduction of a tertiary scholarship and empowerment initiative launched by the Speaker for the Akiama and Aganya communities in the Bonny Local Government Area on Saturday.

He said, “The government and the people of Rivers State heartily congratulate you and thank you for being a good ambassador of the Ibani Kingdom. We assure you that, as the executive arm, while the legislative arm remains independent, we will continue to collaborate to ensure prosperity for our people.

“I thank you, Mr Speaker, for your support to the Rivers State government, as seen in your cooperation. The Speaker has facilitated the screening of caretaker committee chairmen, expedited executive requests, and will soon play a vital role in enacting the 2025 budget.

“Constituency projects are a testament to elected representatives’ commitment to their people. Meanwhile, the 25 former Assembly members who dismissed themselves — have they initiated any projects? Do we see them inspecting or commissioning anything? These are Abuja-based politicians!”

BREAKING: The National Economic Council has decided to withdraw the tax bill from the National Assembly in order to facilitate broader discussions.

The Northern Governors Forum has opposed the Tax Reform Bill that has been submitted to the National Assembly.

In a statement delivered by the chairman of the forum and the Governor of Gombe State, Mohammed Yahaya, the governors expressed their discontent with the suggested changes to the allocation of Value Added Tax (VAT) to a Derivation-based Model.

The statement reads: “Forum notes with dismay the content of the recent Tax Reform Bill that was forwarded to the National Assembly. The contents of the Blare against the interests of the North and other sub-nationals especially the proposed amendment to the distribution of Value Added Tax (VAT) to a Derivation-based Model.

“This is because companies remit VAT using the location of their headquarters and tax office and not where the services and goods are consumed. In view of the foregoing, the Forum unanimously rejects the proposed Tax Amendments and calls on members of the National Assembly to oppose any bill that can jeopardise the well-being of our people.”

Taiwo Oyedele, the chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has announced that if a new tax bill is passed by the National Assembly, wealthy Nigerians earning N100 million or more each month will be subject to a personal income tax rate of 25 percent.

This insight was shared during a breakout session at the ongoing 30th Nigeria Economic Summit held in Abuja on Monday, October 14.

Oyedele highlighted the importance of finding a middle ground that relieves tax pressures on low-income individuals while also ensuring that higher earners make a greater contribution to government finances.

He said, “If you earn N100 million a month, we’re taking up to 25 percent from the rich people. That’s because we need to balance the books.

“Today, whatever VAT you (businesses) pay on assets—whether you’re building a factory, buying a laptop, or vehicles—you bear it. This increases your cost, and therefore, your pricing will go up. Once our reforms are implemented, you get the credit back 100 percent on services and assets.”

Encouraging chaos by Rotimi Amaechi is both reckless and unpatriotic. - APC

In statement released by Felix Morka,
National Publicity Secretary APC.

The statement reads: “From the lavish comfort of his “proverbial glass house”, Rotimi Chibuike Amaechi, former Minister of Transport and Governor of Rivers state, in a recent interview, berated Nigerian youth for not protesting “high cost of living” in the country to his morbid satisfaction.

“Amaechi’s comments are insensitive, god-awful and unpatriotic, coming from one of Nigeria’s longest serving and highest ranking political freeloaders - a two-term Speaker of the Rivers state House of Assembly, a two-term Governor, and a two-term Minister of Transport.

“For almost all of his adult life, Amaechi, has been a leechy dependant on state resources, a voracious beneficiary of official patronage, and a leading participant in the generational devastation of our country’s economy. Attempting to hoodwink Nigerians into his web of false empathy and incitement to violence is hypocritical, provocative and dangerous.

“If those in power “steal money” as Amaechi mischievously alleged, how come he can’t afford “to buy diesel” barely two years after “stealing” for over 24 years in power as Speaker, Governor and Minister?

“The only real anger that Amaechi and his fellow tribesmen of naysayers of the likes of Atiku Abubakar, Peter Obi, and Rabiu Musa Kwankwaso, must feel is that they are not in the saddle of government today. But that was a decision made by Nigeria’s ultimate political authority - the electorate. Nigerians are highly perceptive, discerning, demure, and mindful that economic discomforts associated with the administration’s inevitable reforms are transient and will pale into insignificance in comparison to the enduring transformative dividends which are already beginning to manifest. Nigerians will not be cajoled into taking back through street violence what they handed to the administration through the ballot, as Amaechi and his partisan tribesmen would wish.

“It is nauseating to think that these naysayer tribesmen who did absolutely nothing to improve the economy or living conditions for Nigerians while they were in office, now pontificate, endlessly, about what and how things should be done but didn’t and couldn’t do while in power.

“It’s as though they only regain their senses and discover their talents for governance when they are out of power. A tribe of naysayers, is what they are, who never see any good, only gloom, filled with bile and disdain for the determined strides of APC-administration of President Bola Ahmed Tinubu to transform our country’s economy for the benefit of present and future generations of Nigerians.

One would expect Amaechi to keep busy trying to solve the crippling crisis in Rivers state that he once governed. Instead, he has chosen to stoke anarchy on a national scale. Weaponizing protest and exploiting citizen’s economic discomfort for selfish political objective, as these partisan tribesmen are doing, is irresponsible and decidedly unpatriotic.

“We urge Nigerians to dismiss the call to anarchy by Amaechi and his partisan tribesmen and to remain patient and continue to support President Tinubu’s bold effort to transform our country’s economy once and for all.”

A faction of the NWC of the PDP has announced the suspension of the acting National Chairman, Umar Damagum, and National Secretary, Samuel Anyanwu, citing accusations of disloyalty to the party.

Earlier, a faction within the NWC that loyal to Damagum declared the suspension of Kamaldeen Ajibade, the National Legal Adviser, and Debo Ologunagba, the National Publicity Secretary, citing accusations of disloyalty to the party.

Ologunagba revealed in a statement on Friday the suspension of Damagum and Anyanwu.

He said, “The National Working Committee (NWC) of the PDP has extensively considered the series of complaints raised against the Acting National Chairman, Amb. Illiya Damagum and National Secretary, Sen. Samuel Anyanwu particularly with regard to the letter addressed by them to the Court of Appeal in Appeal No:CA/PH/307/2024 against the party’s position in the case involving the 27 former members of the Rivers State House of Assembly who vacated their seats upon decamping from the PDP to the All Progressives Congress (APC).

“The NWC condemned this anti-party activity of the Acting National Chairman and the National Secretary which is in gross violation of the provisions of the PDP Constitution (as amended in 2017) and their Oath of Office.

“Consequently, the NWC, pursuant to Sections 57, 58 and 59 of the PDP Constitution, has suspended Amb. Illiya Damagum and Sen. Samuel Anyanwu as Acting National Chairman and National Secretary of the Party respectively and referred them to the National Disciplinary Committee for further action.

“In the meantime, the two officials are suspended from all meetings, activities and programs of the NWC pending the conclusion of an investigation by the National Disciplinary Committee.”

Meanwhile, In a statement released in the early hours of Friday, Chinwe Nnorom, the National Director of Publicity for the PDP, announced the suspension of Kamaldeen Ajibade, the National Legal Adviser, and Debo Ologunagba, the National Publicity Secretary. Nnorom also informed that the party has formed a committee, chaired by Deputy National Chairman (South) Taofeek Arapaja, to address and investigate the concerns that have been raised regarding these individuals.

He said, “The National Working Committee (NWC) of the Peoples Democratic Party (PDP) arising from its 593rd Meeting today, Thurday, October 10, 2024, has directed the National Publicity Secretary (NPS), Hon Debo Ologunagba and National Legal Adviser (NLA), Kamaldeen Adeyemi Ajibade, SAN, to step aside

“As a result, the NWC constituted a committee to be chaired by the Deputy National Chairman (South) H.E. Amb. Taofeek Arapaja, to investigate the issues raised against the officers in compliance with the provisions of the Constitution of the Party

“Following the NWC’s Decision, it directed their respective deputies (DNPS and DNLA) to assume office in acting capacity with effect from Friday, October 11, 2014, pending the conclusion of investigation by the Committee. The officers are:

“Ibrahim Abdullahi Manga, Acting National Publicity Secretary and . Okechukwu Osuoha, Acting National Legal Adviser

“The NWC enjoins all leaders, critical stakeholders, teeming members and supporters of our great Party to remain focused and committed as it pilots the day-to-day affairs of the PDP for its greater good.”

New Challenge for LG Autonomy as Soludo Proposes Legislation for Fund Deductions.

The proposed legislation aims to compel local government areas (LGAs) to transfer a share of their federal allocations into a unified account managed by the state.

There are growing concerns in Anambra State that the local government autonomy, which was recently reaffirmed by the Supreme Court, could encounter challenges due to a new bill introduced by Governor Charles Soludo.

On Tuesday, Hon. Henry Mbachu, who represents the Awka South I constituency Labour Party, voiced his worries and called on the governor to retract the bill that has been presented to the Anambra State House of Assembly.

Mbachu contended that if the bill were to be enacted, it would enable the state government to access funds designated for local government councils, which could jeopardize their financial autonomy.

Governor Soludo stood by the bill, claiming that it aligns with the Supreme Court’s ruling on local government autonomy. He encouraged anyone who disagrees with his stance to pursue legal action.

The Secretary to the Speaker of the Anambra State House of Assembly, Emma Madu, has confirmed that the assembly approved the bill known as the Anambra Local Government Administration Law 2024 on Tuesday.

According to the bill, Section 13(1) specifies that the state is required to establish a “State Joint Local Government Account.” All federal allocations intended for Local Government Areas (LGAs) are mandated to be deposited.

According to Section 14(3), every Local Government Area (LGA) must remit a certain percentage, as set by the state, to the consolidated account within two business days of obtaining their allocations from the Federation Account. This requirement applies even if the allocations come directly from the Federation Account.

Section 14(4) specifies that when the state receives the allocation meant for the LGA, it is required to withhold a designated percentage before transferring the remaining amount to the LGA.

In response, Mbachu raised apprehensions regarding the bill's potential negative impact on local government administration. He cautioned that the suggested deductions could limit the capacity of Local Government Areas (LGAs) to independently oversee their federally allocated funds.

Mbachu urged President Bola Ahmed Tinubu to keep a close watch on governors who could potentially hinder advancements in local government elections by pressuring elected chairpersons to funnel funds to the state government.