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Senate Passes Four Tax Bills For Second Reading
The Nigerian Senate on Thursday passed four key tax reform bills for second reading, marking a significant step towards overhauling the country’s tax system.
The bills, part of President Bola Tinubu’s broader fiscal reform agenda, were initially transmitted to the National Assembly on October 3, 2024.
In a session marked by extensive deliberation, the Senate instructed its Finance Committee to conduct a public hearing to gather input from various stakeholders, including the Governors’ Forum, the National Economic Council (NEC), and the Northern Elders’ Forum (NEF), who have voiced concerns over some aspects of the proposals. The committee is expected to report its findings within six weeks.
The bills are designed to address longstanding issues in Nigeria’s tax administration.
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They seek to establish the Joint Revenue Board, the Tax Appeal Tribunal, and the Office of the Tax Ombud.
These bodies are intended to streamline revenue collection, harmonize tax administration, and resolve disputes more efficiently.
The session followed a closed-door meeting where lawmakers discussed the bills, which were based on recommendations from the Taiwo Oyedele-led Tax Reforms Committee.
While many Senators acknowledged the need for reforms, there were significant reservations expressed about the timing and some provisions.
Senator Ali Ndume, a vocal critic of the bills, raised concerns about their potential impact. “Reforms are necessary, I am not against any reforms. My problem is the timing as it is today in Nigeria,” Ndume said.
He highlighted issues related to VAT and derivation, arguing that some of the bill’s provisions would require constitutional amendments before they could be implemented.
Ndume said, “One will be at the public hearing and the issue of derivation because the Constitution has to be amended before some of the proposals of the Bill can be affected. This bill should be withdrawn, we work on it and submit it after getting the buy-in of the Governors, Traditional Rulers, and the NEC.”
Ndume also expressed concern about the potential unintended consequences of shifting tax burdens onto manufacturers, which could ultimately affect consumers.
“If you move a tax burden to the manufacturer, he will transfer it to the consumer. It looks attractive but it may not be what it is. If you reduce VAT from 30% to 25%, the person in Nnewi who can no longer make billions will still be taxed the same as someone who is sitting idle.”
In contrast, the Senate’s Chief Whip strongly opposed the suggestion to withdraw the bills, emphasizing the importance of moving the process forward.
“The bill should scale second reading and undergo thorough examination during the public hearing,” the Chief Whip said. “Afterward, it can be subjected to clause-by-clause consideration.”
The four bills under discussion include the Nigeria Tax Bill 2024, aimed at establishing a comprehensive fiscal framework for taxation; the Tax Administration Bill, which seeks to streamline tax legal frameworks and minimize disputes; the Nigeria Revenue Service Establishment Bill, which proposes the creation of the Nigeria Revenue Service by repealing the Federal Inland Revenue Service (FIRS) Act; and the Joint Revenue Board Establishment Bill, which would create a tax tribunal and ombudsman.
President Tinubu has emphasized that these reforms are essential to strengthening Nigeria’s fiscal institutions and aligning with his administration’s broader economic development goals.
The United Kingdom has launched its largest Visa Application Centre (VAC) in Africa, located in Ikeja, Lagos, marking a major enhancement in the visa application process for Nigerians.
The new facility, operated by VFS Global, was unveiled on November 27, 2024, and is expected to improve the efficiency of visa submissions.
British Deputy High Commissioner to Nigeria, Jonny Baxter, who attended the launch, expressed optimism that the new centre would enhance the UK-Nigeria relationship and provide better services for applicants.
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Baxter stated, “Nigeria remains one of the UK’s most important partners, and we hope that VFS delivers ever-improving services for those applying for visas to the UK.”
The new Ikeja centre joins existing locations in Abuja and Victoria Island. According to Marc Owen, Director of Visa, Status, and Information Services at UK Visas and Immigration, over 225,000 UK visas were processed for Nigerian nationals between August 2023 and June 2024, reflecting the growing demand for UK travel.
The new centre offers a range of enhanced services, including document upload assistance, SMS updates, and premium services for a more personalised experience. Additionally, residents in Abuja now have access to a Mobile Visa Service, allowing them to submit applications locally.
VFS Global, a long-term partner of UK Visas and Immigration, has expanded its operations from 58 countries to 142, underscoring its role in managing visa services worldwide.
Governor Babagana Umara Zulum on Monday began distributing 100 trucks of food items donated to Borno State by President Bola Ahmed Tinubu, targeting flood-stricken communities in Ngala Local Government Area.
The relief, which includes maize, sorghum, and millet, is aimed at alleviating the hardship caused by severe flooding that isolated Ngala from the rest of the country for months.
Speaking at the flag-off ceremony, Zulum explained the rationale behind selecting Ngala as the distribution site.
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“This town was completely cut off from the rest of the country for about four months due to heavy rainfall and flooding.
“The movement of food items to Ngala was obstructed. This informed our visit today to provide relief and cushion the hardships faced by the people,” he said.
The governor expressed his gratitude to President Tinubu and federal agencies for their timely intervention.
“All of the food items we distributed today were donated to us by President Bola Ahmed Tinubu. The President has given us 100 trucks of assorted grains, including maize, millet, and sorghum.
“In addition, the federal government has provided 100 trucks of rice for the victims of the Maiduguri flood disaster,” Zulum stated.
He further commended the federal government’s support under Tinubu’s leadership.
“Let me use this opportunity to commend the federal government, under the leadership of President Bola Ahmed Tinubu, for supporting our people in their time of need,” he added.
Looking ahead, Zulum announced plans to transition from food distribution to sustainable agricultural projects to empower affected communities.
“The state government has implemented medium- and long-term sustainable solutions that will ensure people can cultivate their lands all year round. We are establishing numerous irrigation structures, particularly in Ngala Local Government Area,” he said.
An American woman has revealed her experiences of being duped by two Nigerian internet fraudsters, often referred to as “Yahoo boys.”
Despite her losses, the woman, described as slightly over 50, expressed admiration for Nigerian men, calling them “the sexiest and most handsome men on this planet.”
In a video that went viral on Sunday, the woman detailed her encounters, starting with a scammer she met in 2020 on TikTok. She shared that the man used fake identities to build trust and demand money.
Their relationship lasted ten months before she ended it after discovering his real identity through a mistake he made by calling her from his Nigerian phone number.
“Back in 2020, I met this man, I was with him for ten months, and I got sick of him because he was always demanding money,” she explained. “One day he made a mistake and called me from a Nigerian phone number, and he was trying to play it off that it was his friend’s number. I was done with him, and he later confessed to me. Now, he is about to get married to his Nigerian girlfriend. I hope everything goes well for him.”
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Her second experience involved a younger scammer who later admitted to using the funds to support his sick mother. She recalled that his honesty softened the blow.
“This second was a little different. He was more polite and considered my feelings,” she said. “After a year with him, he decided to come out and tell me the truth, thanking me because I saved his mother’s life.”
Despite the financial strain caused by these scams, she expressed a lingering affection for Nigerian men while warning others to stay vigilant.
The Economic and Financial Crimes Commission (EFCC) has intensified its crackdown on internet fraud. Between May 2023 and May 2024, EFCC secured 3,175 convictions and recovered over N156 billion in various currencies, according to the Commission’s chairman, Ola Olukoyede. However, the increasing involvement of young Nigerians in cybercrime remains a pressing concern.
The woman concluded her story with a note of caution, urging others to be mindful of online relationships while highlighting the struggles faced by both Nigerian and American women.
“I pray that nothing like this ever happens to me again. Please be safe in that country because I know that a lot of people there are struggling. But remember, a lot of American women are struggling too,” she said.
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