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.

Atiku urges the National Assembly to consider a six-year presidential term. Atiku Abubakar, a former Vice President, has written to the National Assembly. He is advocating for a constitutional amendment to establish a six-year single-term limit for both the President and state governors. In a memorandum addressed to the Senate Committee on Constitutional Review, Atiku suggested the implementation of a rotational presidency between the Northern and Southern regions Atiku called on the National Assembly to revise Section 135(2) to state: “amend Section 135(2) to read: ‘Subject to the provisions of subsection (1), the President shall vacate his office at the expiration of a period of six years.” Furthermore, he suggested replacing the term “substitution of an aspirant” in Section 285(14)(a) with “a voter.” The former Vice President proposed that the minimum educational requirement for candidates seeking election should be the Ordinary National Diploma, rather than the Senior Secondary School Certificate Examination. He suggested amending Section 65(2)(a) to state: “He has been educated up to at least Ordinary National Diploma in any recognised academic institution.” Additionally, he suggested adding a clause to Section 65(2)(a)(i) that would state: “Evidence of certificates of all educational qualifications of a candidate shall be submitted to the Independent National Electoral Commission or an affidavit by the candidate in the event of loss of his/her educational certificates, qualifications obtained, and dates, stating the schools attended.” Atiku emphasized the need for political parties to have greater authority in the selection of candidates. He suggested modifying Section 65(2)(b) to state: “He is a member of a political party whose name is in the register to be made available by his political party to the Independent National Electoral Commission 30 days before the conduct of the political party’s primary and he is sponsored by that party.”

FULL TEXT OF NATIONAL BROADCAST BY PRESIDENT BOLA AHMED TINUBU ON THE 64TH INDEPENDENCE ANNIVERSARY OF THE FEDERAL REPUBLIC OF NIGERIA OCTOBER 1, 2024 Fellow Nigerians, as I address you today, I am deeply aware of the struggles many of you face in these challenging times. Our administration knows that many of you struggle with rising living costs and the search for meaningful employment. I want to assure you that your voices are heard. As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel. Exactly 64 years ago, our founding fathers chose democracy as a form of government and launched the dream of a great country that would lead the rest of Africa out of poverty, ignorance, and underdevelopment, a beacon of hope to the rest of Africa and the world. Over six decades later, we can look back, and Nigerians worldwide can see how well we have succeeded in realising the lofty dreams of our founding fathers. The world is witnessing and benefiting from the can-do spirit of the Nigerian people, our massive intellectual capacity, and our enterprise and industry in all vocations, from arts to science, technology to infrastructure. The dreams that our founding fathers envisaged are still a work in progress. Every day, we put our hands on the plough, determined to do a better job of it. While it is tempting to focus on what has been left undone and where we have stumbled as a nation, we must never lose sight of how far we have come in forging and holding our country together. Since independence, our nation has survived many crises and upheavals that led to the dissolution and disintegration of many other nations worldwide. Six years after independence, our country descended into a political crisis that led to a bitter and avoidable civil war. Since returning from the brink of that darkest moment, we have learned to embrace our diversity and manage our differences better as we continue to work towards engendering a more perfect union. Despite the many challenges that buffeted our country, we remain a strong, united, and viable sovereign nation. Dear compatriots, our independence anniversary gives us another chance to reflect on how far we have gone in our journey to nation-building and to renew our commitment to building a better nation that will serve present and future generations of Nigerians. While we celebrate the progress we have made as a people in the last sixty-four years, we must also recognise some of our missed opportunities and mistakes of the past. If we are to become one of the greatest nations on earth, as God has destined us to be, our mistakes must not be allowed to follow us into the future. My administration took over the leadership of our country 16 months ago at a critical juncture. The economy faced many headwinds, and our physical security was highly impaired. We found ourselves at a dizzying crossroads, where we must choose between two paths: reform for progress and prosperity or carry on business-as-usual and collapse. We decided to reform our political economy and defence architecture. On the security front, I am happy to announce to you, my compatriots, that our administration is winning the war on terror and banditry. Our target is to eliminate all the threats of Boko Haram, banditry, kidnapping for ransom, and the scourge of all forms of violent extremism. Within one year, our government has eliminated Boko Haram and bandit commanders faster than ever. As of the last count, over 300 Boko Haram and bandit commanders have been eliminated by our gallant troops in the Northeast, Northwest, and some other parts of the country. We have restored peace to hundreds of communities in the North, and thousands of our people have been able to return home. It is an unfinished business, which our security agencies are committed to ending as quickly as possible. As soon as we can restore peace to many communities in the troubled parts of the North, our farmers can return to their farms. We expect to see a leap in food production and a downward spiral in food costs. I promise you, we shall not falter on this. Our government has been responding to the recent natural disasters, particularly the flooding in parts of the country. After Vice President Kashim Shettima visited Maiduguri, I also visited to assure our people that this federal government will always stand with our people in their times of trouble. At the last meeting of the Federal Executive Council, we approved a Disaster Relief Fund to mobilise private and public sector funds to help us respond faster to emergencies. Our government has also ordered integrity tests of all our dams in the country to avert future disasters. The economy is undergoing the necessary reforms and retooling to serve us better and more sustainably. If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences. Thanks to the reforms, our country attracted foreign direct investments worth more than $30 billion in the last year. Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector. The move will create vibrancy and increase oil and gas production, positively impacting our economy. The more disciplined approach adopted by the Central Bank to monetary policy management has ensured stability and predictability in our foreign exchange market. We inherited a reserve of over $33 billion 16 months ago. Since then, we have paid back the inherited forex backlog of $7 billion. We have cleared the ways and means debt of over N30 trillion. We have reduced the debt service ratio from 97 per cent to 68 per cent. Despite all these, we have managed to keep our foreign reserve at $37 billion. We continue to meet all our obligations and pay our bills. We are moving ahead with our fiscal policy reforms. To stimulate our productive capacity and create more jobs and prosperity, the Federal Executive Council approved the Economic Stabilisation Bills, which will now be transmitted to the National Assembly. These transformative bills will make our business environment more friendly, stimulate investment and reduce the tax burden on businesses and workers once they are passed into law. As part of our efforts to re-engineer our political economy, we are resolute in our determination to implement the Supreme Court judgment on the financial autonomy of local governments. The central concern of our people today is the high cost of living, especially food costs. This concern is shared by many around the globe as prices and the cost of living continue to rise worldwide. My fellow Nigerians, be assured that we are implementing many measures to reduce the cost of living here at home. I commend the Governors particularly, in Kebbi, Niger, Jigawa, Kwara, Nasarawa, and the Southwest Governors that have embraced our agricultural production programme. I urge other states to join the Federal Government in investing in mechanised farming. We are playing our part by supplying fertilizer and making tractors and other farm equipment available. Last week, the Federal Executive Council approved establishing a local assembly plant for 2000 John Deere tractors, combine harvesters, disc riders, bottom ploughs and other farm equipment. The plant has a completion time of six months. Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation. Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace. As we work to overcome the challenges of the day, we remain mindful of the next generation as we seek to galvanize their creative energy towards a better future. We lead today with the future we wish to bequeath to our children in focus, recognizing that we cannot design a future that belongs to them without making them its architects. Considering this, I am pleased to announce the gathering of a National Youth Conference. This conference will be a platform to address the diverse challenges and opportunities confronting our young people, who constitute more than 60 per cent of our population. It will provoke meaningful dialogue and empower our young people to participate actively in nation-building. By ensuring that their voices are heard in shaping the policies that impact their lives, we are creating a pathway for a brighter tomorrow. The 30-day Confab will unite young people nationwide to collaboratively develop solutions to issues such as education, employment, innovation, security, and social justice. The modalities of this Confab and selection of delegates will be designed in close consultation with our young people through their representatives. Through this confab, it will be our job as leaders to ensure that their aspirations are at the heart of the conference’s deliberations. The government will thoroughly consider and implement the recommendations and outcomes from this forum as we remain resolute in our mission to build a more inclusive, prosperous, and united Nigeria. Our government is implementing several other youth-centric programmes to give our young people an advantage in the rapidly changing world. We are implementing, amongst others, the 3 million Technical Talents programme (3MTT) of the Ministry of Communications, Innovation and Digital Economy, aimed at building Nigeria's technical talent backbone. We have also enthusiastically implemented the Nigerian Education Loan Fund (NELFUND), which provides cheap loans to our students to pursue their tertiary educational dreams. In addition, later this month, we shall launch The Renewed Hope Labour Employment and Empowerment Programme (LEEP). It is conceived as a comprehensive suite of interventions at job creation by the Federal Ministry of Labour and Employment that is aimed at facilitating the creation of 2.5 million jobs, directly and indirectly, on an annual incremental basis whilst simultaneously ensuring the welfare and safety of workers across the country. As is the tradition, the government will soon announce all the beneficiaries of our national honours for 2024. The Senate President and the Chief Justice of the Federation have been conferred with the honour of the Grand Commander of the Order of the Niger (GCON). The deputy Senate President and Speaker of the House of Representatives have the honour of Commander of the Order of the Federal Republic (CFR), while the deputy speaker of the House has been awarded Commander of the Order of Niger (CON) . Fellow Nigerians, better days are ahead of us. The challenges of the moment must always make us believe in ourselves. We are Nigerians—resilient and tenacious. We always prevail and rise above our circumstances. I urge you to believe in our nation's promise. The road ahead may be challenging, but we will forge a path toward a brighter future with your support. Together, we will cultivate a Nigeria that reflects the aspirations of all its citizens, a nation that resonates with pride, dignity, and shared success. As agents of change, we can shape our destiny and build a brighter future by ourselves, for ourselves and for future generations. Please join our administration in this journey towards a brighter future. Let us work together to build a greater Nigeria where every citizen can access opportunities and every child can grow up with hope and promise. May God continue to bless our nation and keep members of our armed forces safe. Happy Independence anniversary, my fellow Nigerians!

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