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Cornerstone Insurance Plc has said that it is well positioned for any recapitalisation measures to be announced by the National Insurance Commission. This was disclosed by the firm’s Managing Director, Stephen Alangbo, during the 32nd annual general meeting held in Lagos on Wednesday. He said, “We are well positioned for any recapitalisation measures that may
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The world’s largest cryptocurrency by market cap, Bitcoin, dropped to $52,000 amid a market sell-off on Monday. The price of…
The Parliamentary Monitoring Group, PMG, a pro-democracy organisation, has called for the swift passage of the proposed tax reform bills, assuring Nigerians that President Bola Ahmed Tinubu’s intentions align with national progress and economic recovery. In a statement issued on Monday, Dr Adebayor Lion Ogorry, President of PMG, urged both chambers of the National Assembly
Parliamentary group urges speedy passage of tax reform bills
The Parliamentary Monitoring Group, PMG, a pro-democracy organisation, has called for the swift passage of the proposed tax reform bills, assuring Nigerians that President Bola Ahmed Tinubu’s intentions align with national progress and economic recovery.
In a statement issued on Monday, Dr Adebayor Lion Ogorry, President of PMG, urged both chambers of the National Assembly to prioritise the bills, describing them as critical to addressing the country’s economic challenges.
President Tinubu recently introduced four executive bills—the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board Establishment Bill—based on recommendations from the Taiwo Oyedele-led Presidential Committee on Tax and Fiscal Policy Reform inaugurated in August 2023.
The bills aim to restructure Nigeria’s taxation framework by harmonising federal, state, and local tax authorities to eliminate inefficiencies, overlaps, and confusion.
However, the proposals have faced criticism, with some stakeholders labelling them “anti-north.”
Additionally, the National Executive Council, led by Vice President Kashim Shettima and composed of Nigeria’s 36 state governors, has advised the president to reconsider the bills.
Reacting to the opposition, Dr Ogorry stated: “The President must not be distracted in his quest to liberate Nigerians from economic hardships. Members of the National Assembly should consider these bills as their contribution to revamping the nation’s economy. Accelerating their passage is a matter of urgent national importance.”
PMG attributed some of the resistance to the bills to individuals benefiting from the existing flawed tax system. According to the group, the reforms would transfer tax collection functions from agencies such as the Nigeria Customs Service and the Nigeria Upstream Regulatory Commission to a new National Revenue Service.
Other changes include renaming and restructuring the Federal Inland Revenue Service and the Joint Tax Board.
The group emphasised the bills’ potential to alleviate economic burdens, particularly for low-income earners.
Dr Ogorry commended President Tinubu’s resolve, adding: “These reforms have the potential to reposition Nigeria among economically viable nations. Anyone opposing these bills is an enemy of Nigeria’s progress.”
Parliamentary group urges speedy passage of tax reform bills
The Bauchi State Council of the Nigerian Union of Journalists, NUJ has inaugurated five standing committees to strengthen its leadership and boost the Council’s objectives. The committees were constituted and inaugurated by the Council Chairman, Comrade Umar Sa’idu, at the NUJ Press Center’s Conference Hall on Saturday. The newly established committees include Ethics and Disciplinary,
Bauchi NUJ inaugurates five standing committees
The Bauchi State Council of the Nigerian Union of Journalists, NUJ has inaugurated five standing committees to strengthen its leadership and boost the Council’s objectives.
The committees were constituted and inaugurated by the Council Chairman, Comrade Umar Sa’idu, at the NUJ Press Center’s Conference Hall on Saturday.
The newly established committees include Ethics and Disciplinary, Education and Training, Press Center Management and Development, and Press Conference.
In his address, Umar Sa’idu urged the committee members to operate within the specified terms of reference as outlined in the NUJ Constitution.
He stated that the committees were integral to advancing the Council’s objectives and complementing its agenda.
Sa’idu also addressed the delay in forming the committees, attributing it to a lawsuit filed by some members, which prolonged the process for nearly a year before the Council won the case.
He called on the committees to fully cooperate to help the Council achieve its goals of advancing the Union in alignment with the NUJ’s broader mission.
Speaking on behalf of the committees, Chairman of the Elders Advisory Committee, Inuwa Bello, expressed appreciation for the Council’s commitment to fostering positive change.
He commended Comrade Umar Sa’idu for his proactive leadership since taking office assuring that the committees would work diligently to support the Union’s objectives and promote the welfare of its members.
Bauchi NUJ inaugurates five standing committees