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New tax reforms will provide stronger social safety net – Nwoko
Nwoko, who represents Delta North Senatorial District and a member of the Senate Committee on Constitutional Amendment as well as Finance, said this while speaking with the News Agency of Nigeria (NAN), in Abuja on Wednesday.
He said this was particularly so, if the presidency adopted his proposed model for National Social Security Agency.
According to him, Nigeria’s tax system has long been due for reform, and the four bills currently before the National Assembly, offers us a critical opportunity to address the deep-rooted fiscal challenges we face.
“Nigeria, with one of the lowest tax-to-GDP ratios in the world, our revenue framework is not fit to support a population of more than 220 million people.
“Importantly, this overhaul can also provide a stronger social safety net, particularly if the presidency adopts my proposed model for a National Social Security Agency.
“I proposed contributions from taxes and the private sector as part of sustainable funding mechanisms for the Agency.
“However, for this promise to be realised, we must pair reform with strong accountability mechanisms and a commitment to effective implementation.
“This is not just about raising taxes; it’s about making them work better for everyone. Nigeria cannot afford to keep postponing these tough but necessary decisions.”
The lawmaker also said that it was not taxation that was the problem, but how the revenues were utilised for the benefit of the people mattered.
He added that the concerns raised in opposition were not unique to Nigeria.
“Countries that have successfully implemented tax reforms, faced initial challenges but ultimately created systems that are fairer.
“The principle of progressive taxation is central to the success of these reforms, which is protecting small businesses and low-income earners while ensuring that those with higher incomes contribute proportionately,” he said.
NAN reports that the Senate on Nov. 28, passed for second reading, the tax reform bills forwarded to it by President Bola Tinubu in October 2024.
The passage followed a debate among the lawmakers.
The bill was thereafter referred to the Committee on Finance, which was asked to revert in not more than six weeks.
Before the debate, the lawmakers had earlier gone into about an hour closed-door session.
NAN also reports that Tinubu on Tuesday, directed the Ministry of Justice to work closely with the National Assembly to address the concerns within and outside the legislature.
The Minister of Information and National Orientation, Mohammed Idris, revealed this in a statement he signed Tuesday titled ‘President Tinubu committed to accountability on tax bills, directs Ministry of Justice to work with NASS on concerns.’
Mohammed said, “In line with the established legislative procedure, the Federal Government 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.”
The Federal Government says the bills are aimed at overhauling the nation’s tax system.
These are the Nigeria Tax Bill 2024, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
The federal government said that the proposed legislation seeks to consolidate existing tax laws, establish clearer frameworks for tax administration, and create bodies like the Tax Appeal Tribunal and the Office of the Tax Ombudsman.
However, critics argue that the reforms could disrupt the balance of fiscal federalism, potentially centralising tax authority and diminishing state revenues.
Notably, at a meeting on Oct. 28, the 19 Northern States, under the platform of the Northern Governors’ Forum, rejected the new derivation-based model for Value-Added Tax distribution in the tax reform bills.
They argued that the changes might adversely affect their regions’ financial autonomy. (NAN)
A group of concerned citizens has raised the alarm over an alleged plot to sabotage President Bola Ahmed Tinubu’s reforms on local refineries.
The group, Concerned Nigerians led by its National Coordinator Obinna Francis, claims to have uncovered a sinister plot to stop the supply of crude oil to domestic refineries.
According to Francis, the plot is being orchestrated by a cabal within the Nigerian National Petroleum Company Limited (NNPCL), in collaboration with importers of fake petrol.
The group alleges that this cabal is seeking to undermine the government’s economic reforms, which have led to a significant reduction in fuel prices and a subsequent decrease in the cost of food items.
The concerned citizens believe that the plot is driven by a desire to return Nigeria to the era of petrol importation and the reintroduction of subsidies.
They argue that cutting off crude oil supply to domestic refineries would create a shortage of refined products, forcing the country to import fuel.
The group claims that the cabal has been manipulating officials in the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to justify the planned refusal to supply crude oil to local refineries.
They also allege that the cabal has the support of individuals seeking regime change, who hope to capitalize on public anger and protests to bring down the government.
Francis added: “The members of the cabal, working through certain officials of NNPCL, have been manipulating their colleagues in the NUPRC, which has responsibility for overseeing the supply of crude oil to refineries in Nigeria.
“Their plot includes sabotaging exploration and distribution infrastructure to justify the planned refusal to cut off crude supplies. This unholy alliance has the support of individuals who have been angling for a regime change.
“Our suspicion is that while the NNPCL/NUPRC cabal pursue the monetary gains of truncating the steady supply of refined products, their political wing anticipates that a disruption in refining capacity would lead to petrol scarcity, drive fuel prices up and hike food prices with the attendant anger against the government of the day.
“They desire to weaponize such public anger into anti-government protests that would bring the administration down. We are concerned that if not stopped, this plot will undo all the gains that have been made in the implementation of economic reforms of President Bola Ahmed Tinubu’s government and doom us all.
“We are further concerned that such a plot at this critical time of our economic evolution would plunge the country into an abyss from which it may never resurface.”
The concerned citizens are calling on President Tinubu and the Department of State Services (DSS) to intervene and prevent the plot from being executed. They praised the president’s economic reforms, which have driven Nigeria towards energy sustainability and revived the oil industry.
The group warned that if the plot is not stopped, it would undo all the gains made by the government and plunge the country into economic chaos.
They urged the president to ensure that no one in NNPCL, NUPRC, or any other connected agency undermines the achievements recorded in the sector.
Actor-turned-politician Desmond Elliot has become a hot topic online after a video surfaced showing his emotional reaction on Monday, shortly after Mojisola Meranda resigned as Speaker of the Lagos State House of Assembly.
Earlier, SPEARNEWS reported that Ms Meranda announced her resignation during a plenary session.
Following her resignation, the impeached Speaker, Mudashiru Obasa, was reinstated to his former position.
In a viral video, Mr Elliot, who represents Surulere Constituency 1 in the Assembly, was emotional over Ms Meranda’s resignation.
Dressed in a black native outfit, the 51-year-old attempted to deliver a farewell speech but was overcome with emotion and struggled to hold back tears.
At one point in the viral video, he found it difficult to continue speaking and requested that another lawmaker take the floor while he composed himself.
“Madam Speaker, can you allow others to speak first?” he asked.
Ms Meranda responded, “Have your seat,” prompting him to sit down, covering his face with one hand as he wiped away tears.
Seyi Lawal, an All Progressives Congress (APC) representative from Ikeja Constituency 1, was granted permission to speak in place of Mr Elliot, who has served in the House since April 2015.
Kano State government has made arrangements to feed 91,000 people in 91 designated centres during the 2025 Ramadan Feeding Programme.
Flagging off the feeding programme in m Fagge Local Government Area on Sunday evening, the Deputy Governor and Chairman of the programme, Alhaji Aminu Abdulsalam, said that that the initiative would run for 27 days.
He said that the programme was aimed at supporting vulnerable residents and would provide daily iftar meals to fasting Muslims, alleviating the challenges faced during Ramadan.
“Since the assumption of office, Gov. Abba Kabir-Yusuf, has institutionalised this initiative to support vulnerable residents by providing daily iftar meals during the holy month of Ramadan.
“The programme, which is part of the state’s annual humanitarian efforts, aims to alleviate the difficulties faced by fasting Muslims during Ramadan.
“Recognising the needs of the state’s large population of Ramadan observers, the Kano State Government remains committed to ensuring that relief reaches those in need,” he explained.
Abdulsalam expressed satisfaction with the seamless commencement of the initiative.
He further urged the catering companies involved to ensure prompt and efficient delivery of meals to all feeding centers, in order to achieve the programme’s objectives.
Abdulsalam was accompanied by key officials, including the Commissioner for Information and Internal Affairs, Ibrahim Waiya, as well as his counterpart in the Ministry of Religious Affairs, Sheikh Tijjani Auwal. (NAN)