The year 2024 was a pivotal one for the Nigerian Senate under the leadership of Godswill Akpabio. Several key events marked the period and shaped both the legislative direction and public perception of the institution. Eko Hot Blog reports that these events not only impacted national policy but also provided a deeper insight into the … Read more
As the world prepares to welcome the New Year, various stakeholders in Nigeria, including those from the manufacturing, academic, security sectors, local government unions, and the Ijaw National Congress, have called on President Bola Tinubu to take steps toward improving the economy in 2025. While acknowledging the challenges of 2024, which they described as “tough” … Read more
President Bola Ahmed Tinubu has introduced significant tax reforms aimed at reshaping Nigeria’s economic landscape. While these reforms align with his campaign promises to end fuel subsidies and broaden the tax net, they have triggered debates about their potential impact on the average Nigerian. Will these changes provide the fiscal boost the country needs, or … Read more
Governors elected under the All Progressives Congress (APC) are set to meet with members of the National Assembly to address concerns over contentious tax reform bills. The planned meeting follows a Wednesday night session with President Bola Tinubu, key cabinet members, and Speaker of the House of Representatives Tajudeen Abbas. Discussions centered on the tax … Read more
The Federation Account has recorded a 45% increase in revenue since President Bola Ahmed Tinubu assumed office, attributed to his administration’s bold reforms and policies. Dr. Mohammed Bello Shehu, Chairman of the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), made this announcement during a press briefing in Abuja. EDITOR’S PICKS PDP Declares Ethiope East Federal … Read more
President Bola Tinubu has expressed optimism about the ongoing transformative changes in Nigeria, particularly in the areas of security and economic development. EDITOR’S PICKS PDP Declares Ethiope East Federal Seat Vacant Following Ibori-Suenu’s Defection to APC Retired Principals Call for Recognition and Better Welfare from Government BREAKING: IGP Egbetokun Orders Major Shake-Up, Deploys New AIG … Read more
The Senate clarified on Thursday that the debate on the contentious tax reform bills had not been suspended, refuting claims of a pause in deliberations. This statement followed an emergency meeting by the South-South caucus, aimed at garnering suppoTax Reform: Southern Senators Meet As Tax Debate Continuesrt for the bills, particularly amidst disagreements over the … Read more
Taiwo Oyedele, Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, has firmly rejected any plans to engage Alpha-Beta Consulting or other external consultants for tax collection. EKO HOT BLOG reports that speaking at a town hall meeting hosted by Channels Television on Monday, Oyedele addressed concerns regarding the use of external consultants … Read more
Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has explained the reasoning behind the proposal to rename the Federal Inland Revenue Service (FIRS) to the Nigeria Revenue Service (NRS). EKO HOT BLOG reports that the name change is part of the Nigeria Revenue Service Establishment Bill, currently before the National … Read more
The Peoples Democratic Party (PDP) and other stakeholders have urged the Federal Government to engage in wider consultations on the controversial tax reform bills currently before the National Assembly. These include the Nigeria Tax Bill 2024, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, all aimed at … Read more
The Presidency has dismissed claims that the Tax Reform Bills are being rushed through the National Assembly, emphasizing that the process reflects over 14 months of rigorous work. Temitope Ajayi, Senior Special Assistant to the President on Media and Publicity, stated on Monday that more than 80 professionals across the country contributed to the reforms, … Read more
The House of Representatives has indefinitely postponed discussions on the contentious Tax Reform Bills, bowing to mounting opposition from the governors of Nigeria’s 19 northern states and their legislative allies. The Clerk of the House, Dr. Yahaya Danzaria, confirmed the suspension in a memo issued on November 30, 2024. EDITOR’S PICKS Japa: Russia Opens Doors … Read more
Senator Ali Ndume, representing Borno South, has identified poor timing as a key factor contributing to opposition against the proposed tax reform bills. Speaking on the floor of the Senate on Thursday, Ndume acknowledged that while the bill could have good potential, introducing it at this time would be problematic due to the current public … Read more
The Senate has passed four tax reform bills for second reading during Thursday’s plenary session. Following the approval, Senate President Godswill Akpabio referred the bills to the Finance Committee, chaired by Senator Sani Musa (APC, Niger East), for further legislative work and a report back within six weeks. Before deliberating on the bills, the Senate … Read more
Tensions erupted in the Senate on Wednesday as lawmakers clashed over a motion by Senate Leader Opeyemi Bamidele to suspend the rules and allow Federal Inland Revenue Service (FIRS) Chairman Zaccheus Adedeji and Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, to address the chamber. Bamidele argued that the motion was … Read more
President-elect Donald Trump has selected Republican Congresswoman Lori Chavez-DeRemer of Oregon to serve as the next Secretary of Labor. During his campaign, Trump pledged to prioritize American workers by safeguarding their jobs, revitalizing U.S. manufacturing, and ensuring pathways to achieve the American dream. EDITOR’S PICKS Electricity Meter Costs Rise Again As Deregulation Takes Effect Biden, … Read more
President Bola Tinubu is fully committed to adhering to due process regarding the tax reform bill currently under consideration by the National Assembly, according to his Special Adviser on Communication and Orientation, Sunday Dare. Speaking on Channels TV, Dare affirmed that the President is respecting the legislative process, allowing it to shape the bill’s progression … Read more
The Bola Ahmed Tinubu administration is set to withdraw the Tax Reform Bills recently presented to the National Assembly following significant backlash, especially from northern governors and traditional rulers. The opposition is largely centered on changes to the Value Added Tax (VAT) distribution model, which many northern leaders argue would disproportionately impact their region. According … Read more
Senator Mohammed Ali Ndume, representing Borno South in the National Assembly, has urged Minister of Finance Wale Edun, the Federal Inland Revenue Service (FIRS), and other economic managers to stop misleading President Bola Tinubu. Ndume made this statement in response to the Federal Government’s plan to increase the country’s tax regime. He expressed concern that … Read more
Nigerias tax reform is underway with four Executive Bills currently before the National Assembly. These bills are the ‘Nigeria Tax Bill’, which replaces existing tax law with a modern framework; the ‘Nigeria Tax Administration Act Amendment Bill, which seeks to strengthen the enforcement powers of the Federal Inland Revenue Service (FIRS); the Nigeria Revenue … Read more