Members of the National Assembly are currently divided over the controversial Tax Reform Bills introduced by the Bola Tinubu administration. On 3 September, the President transmitted four tax reform bills to the National Assembly for consideration. The reforms stemmed from the recommendations of the Presidential Committee on Fiscal and Tax Reforms headed by Taiwo Oyedele, for the review of existing …

The Federal Government has proposed N341 billion for emergency repairs of roads and bridges nationwide. The Minister of Works, Senator Dave Umahi, disclosed this while updating members of the National Assembly Joint Committee on Works on the repair status of the Third Mainland and Carter bridges on Saturday. The minister and the legislators were on a tour of the Third …

Renowned economist, Prof Pat Utomi, has claimed that the nation is presently a failure, made worse by the lack of alternative thinking to turn things around. According to Utomi, the lack of alternative thinking was worsened by a total capture of the legislature and the judiciary, as he described the present National Assembly as the worst thing that happened to …

A new bill has been proposed in Nigeria that will require individuals engaged in banking, insurance, stock-broking, or other financial services to provide a Tax Identification Number as a precondition for opening a new account or operating an existing one. According to the bill, titled “A Bill for an Act to Provide for the Assessment, Collection of, and Accounting for …

A former Vice President, AlhajiAtiku Abubakar has written to the National Assembly, requesting an amendment to the Constitution to allow for a six-year single term for the President and state governors. In a memorandum to the Senate Committee on Constitutional Review, Atiku, who was the presidential candidate of the People Democratic Party in last year’s general election, also proposed that …

Despite being vocal on the floor of the Senate, former National Chairman of the ruling All Progressives Congress (APC), Senator Adams Oshiomhole is yet to sponsor a bill. Along with his colleagues, the former Edo State governor was sworn in in the red chamber of the National Assembly on 13 June 2023. He is a first timer in the Senate. …

Nigeria’s second arm of government, the Legislature, is in the eye of the storm again! Tongues keep wagging the National Assembly basically on two issues that keep recurring. The first has to do with its salaries, allowances, emoluments and perquisites, which many believe are out of this world and out of tune with realities. The second is how effectively and …

In a strategic move to rework the nation’s obsolete tax policy, the Federal Inland Revenue Service (FIRS) and the National Assembly recently deliberated on policies and laws critical for revenue growth. Deliberations on the front burner included Interaction between Tax Policy, Legislation and Administration: Implications for Tax Revenue Collection amidst Nigeria’s Current Economic Challenges; The Path to Realizing FIRS Mandate, …

The National Assembly on Wednesday passed for second reading an Executive Bill seeking to tax the windfall made by banks from foreign exchange business. The bill is an amendment to the Finance Act of 2023. The one-time tax will be used to finance capital infrastructure development, education, healthcare and other welfare initiatives, according to the Federal Government. Another Executive Bill …

The National Assembly has thrown its weight behind NNPC Limited’s ongoing efforts to boost crude oil production and grow its reserves, saying it will consider stiffer consequences for crude oil thieves and vandals of the nation’s critical hydrocarbon infrastructure. According to a statement by the Chief Corporate Communications Officer NNPC Limited, Mr. Olufemi Soneye on Tuesday, after the National Assembly’s …