Politics
NASS to receive Tinubu’s tax reforms committee report September
The Presidential Fiscal Policy and Tax Reforms Committee says it will transmit its policy recommendations to the National Assembly by the end of Q3 2024.
These include new National Tax and Borrowing Policies to be implemented in September and new proposals to amend the Constitution, which would take effect from 2025.
The committee led by Taiwo Oyedele announced that his team had closed its proposal phase and is now “consulting with the private sector” for the rest of May.
The Committee expects to secure internal approvals from the Federal Executive Council, National Economic Council and other organs of government “up until the end of June.”
He explained, “We envisage by the Quarter Three, our documents will be ready to go to the National Assembly and by the end of that Q3.
“We should have them enacted into law so we can give reasonable notice to the public, businesses and individuals before commencement for many of them kick off in 2025. But where we have executive orders and directive regulations that don’t require enactment into law, we just need the ministers to sign.
“For instance, we have a new withholding tax regulation where small businesses will be exempt from having to deduct withholding tax. So it’s ready; we’re waiting for the final signature.”
The tax reforms chief hinted about a new National Tax Policy and a Spending Policy that would dictate government spending as well as a Borrowing Policy “so that the social contract with the people is delivered to them in a meaningful way.”
“So, all of that will happen before the end of the year. But where we are enacting the law and proposals to amend the Constitution, that will happen in 2025 and, maybe, 2026 because I think the timeline that the National Assembly has is about two years,” he explained.
Oyedele argued that these processes are necessary to ensure that the “reforms can be enduring and sustained,” adding, “We don’t want this whole effort to go down the drain, after one or two years if somebody comes with a different idea and introduces new taxes. We have to fix this problem once and for all.”
Fielding questions on the foreseeable tax threshold for small businesses, he said after the deploying considering its data, the Committee has agreed that “if you earn N25m a year or less, you don’t have to pay company income tax, you don’t have to worry about VAT.”
He said, “The informal sector is people who are trying to earn a legitimate living”; therefore, “we should allow them to be and support them to grow to a point where they can then have the ability to pay taxes.”
Consequently, “We think that 95 per cent of the informal sector should be legally exempted from all taxes; withholding tax, company income tax, even payee on their staff. Let them be.
“We can then focus our attention on the top 5 per cent of that sector and, of course, the middle class and the elites. We think the days of being above the law in paying taxes are over.
“This is the same thing we’re saying to our leaders, whether elected or appointed; we think they have to lead by example by showing that they have paid the taxes, not only on time but correctly to the lawful authorities as contained in the various laws.”
The Oyedele-led Committee said it is “very convinced” that the government needs to increase the exemption threshold for small businesses such as for low-income earners, because “if you can’t make ends meet, the last thing you want is someone asking you to pay tax and we don’t think that is right.”
On the policy flaws entrenched in the controversial Cybersecurity Levy, Oyedele called for patience from the Nigerians battling multiple taxations, saying, These problems will not disappear overnight. It’s a work in progress.”
He stated, “As we progress from ideation, proposal to implementation, you’ll see less and less of those issues.”
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By Prince Uwalaka Chimaroke
17- DEC- 2025
The Senator representing Imo West Senatorial District and Chairman of the Senate Committee on Capital Markets, Senator Osita Izunaso, has expressed deep concern over what he described as the increasing occupation of political offices by individuals lacking the training, discipline, and values required for effective leadership.
Speaking in Abuja on Wednesday at the public presentation of Leadership 365: Daily Reflection for Effective Leadership, authored by Dr. Linus Okorie, President of the GOTNI Leadership Centre, the lawmaker noted that leadership in Nigeria is often misunderstood as merely holding public office rather than demonstrating character, competence, and vision.
Senator Izunaso stressed that authority does not automatically confer leadership, lamenting the absence of intentional leadership development structures in the country. According to him, many political actors assume leadership positions without adequate preparation, resulting in poor conduct, weak decision-making, and a disconnect from the people they serve.
He explained that true leadership reflects in attitude, speech, and behaviour, noting that leaders are constantly under public scrutiny and must therefore conduct themselves with responsibility and restraint. He added that leadership is not exclusive to political office holders, pointing out that leaders often emerge naturally in everyday settings based on influence and character rather than titles.
The lawmaker commended Dr. Okorie for contributing to leadership discourse through his book, describing it as a thoughtful work that highlights leadership as a daily responsibility applicable to all spheres of life. He emphasized that leadership is often revealed through action and integrity, not position, and can be identified even among children through observation of behaviour and influence.
Addressing young Nigerians, Senator Izunaso cautioned against the growing obsession with quick wealth, urging them instead to embrace mentorship and positive role models whose lives reflect sound values. He advised that money should not be the primary measure for choosing role models, stressing the importance of character and long-term impact.
The senator further observed that while technology and artificial intelligence are shaping the modern world, they can never replace the power of the human spirit. He noted that when properly guided, human capacity can drive meaningful change capable of transforming institutions, economies, and nations.
In his remarks, Dr. Okorie underscored the importance of deliberate leadership grooming, stating that nations that have achieved sustainable development did so by investing consciously in leadership capital. He explained that the book was written to encourage consistent self-reflection and inspire individuals committed to making a positive difference in society.
Observers note that concerns about leadership quality have remained a recurring issue in Nigeria’s governance discourse, with critics often pointing to weak institutions, policy inconsistency, and a political culture that prioritizes patronage over competence as major challenges to national development.
Politics
Engineers Farouk Ahmed, Gbenga Komolafe resign, President Tinubu nominates successors to the Senate for approval
President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).
To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Engineer Saidu Aliyu Mohammed as CEO of NMDPRA.
The two nominees are seasoned professionals in the oil and gas industry.
Eyesan, a graduate of Economics from the University of Benin, spent nearly 33 years with the NNPC and its subsidiaries. She retired as Executive Vice President, Upstream (2023–2024), and previously served as Group General Manager, Corporate Planning and Strategy at NNPC from 2019 to 2023.
Engineer Saidu Aliyu Mohammed, born in 1957 in Gombe, graduated from Ahmadu Bello University in 1981 with a Bachelor’s in Chemical Engineering. He was announced today as an independent non-executive director at Seplat Energy.
His prior roles include Managing Director of Kaduna Refining and Petrochemical Company and Nigerian Gas Company, as well as Chair of the boards of West African Gas Pipeline Company, Nigeria LNG subsidiaries, and NNPC Retail.
He also served as Group Executive Director/Chief Operating Officer, Gas & Power Directorate, where he provided strategic leadership for major gas projects and policy frameworks, including the Gas Masterplan, Gas Network Code, and contributions to the Petroleum Industry Act (PIA).
Engineer Mohammed played a pivotal role in delivering key projects such as the Escravos–Lagos Pipeline Expansion, the Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline, and Nigeria LNG Train.
President Bola Tinubu felicitates Senator Ifeanyi Godwin Ararume, astute politician and accomplished businessman, on his birthday, December 16.
Senator Ararume’s odyssey in politics began in the late 1980s, when he served as the State Treasurer of the Liberal Convention in old Imo State. He later joined the National Finance Committee of the defunct National Republican Convention.
He represented Imo North in the 9th National Assembly. He was first elected in May 1999 and re-elected in April 2003. He also served on several committees and held other official roles.
President Tinubu commends the former senator for his years of service to the nation and contributions to its peace, unity, and progress.
The President describes Senator Ararume as a resolute and shrewd politician, highlighting his courageous and remarkable political journey through the years.
President Tinubu wishes Senator Ararume a happy 67th birthday and prays that God Almighty will grant him more years of good health and strength.
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