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Nigeria’s Fiscal Potential Discussed by Committee Chairman
Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, described Nigeria as a country with significant potential for wealth despite its current financial challenges.
In a recent interview, he highlighted that the combined federal and state budgets of Nigeria amount to $30 billion, which is less than Kenya’s $32 billion and significantly lower than South Africa’s $130 billion budget.
Oyedele dismissed the idea of raising taxes as a solution to Nigeria’s revenue issues.
Instead, he advocated for broad-based, easy-to-collect taxes, leveraging data and technology to close the tax gap, and exempting low-income earners and micro businesses.
He believes these measures could more than double Nigeria’s revenue within two to three years.
News
Inauguration Day: Donald Trump Swears In As The 47th President Of The United States
Donald Trump swears in as the 47th President of the United States. The swearing in ceremony was held in Washington, DC.
The ceremony started by Trump attending the church service to start off the inauguration activities.
Trump gives a speech to the audience during his inauguration “I stand before you as proof that you should never believe something is impossible to do. In America, doing the impossible is what we do best.”
“We will not fail. From this day on, the United States of America will be a free, sovereign and independent nation.”
“The future is ours, and our golden age has just begun.”
News
Wike Vows Severe Punishment for Electricity Vandals in Abuja
Nyesom Wike, the Minister of the Federal Capital Territory (FCT), has issued a stern warning to electricity vandals in Abuja, urging them to stop their criminal activities.
In a media chat on Sunday evening, Wike expressed his anger over the destruction and theft of transmission cables, which led to widespread power outages across the city. He vowed that those responsible would face severe consequences.
The Minister confirmed that several suspects have been apprehended in connection with the vandalism. However, he made it clear that the charges would not simply be theft, but economic sabotage.
“These vandals have caused more than 60% of Abuja to be plunged into darkness. This is pure sabotage.
Thankfully, our security agencies are fully on top of this,” Wike said. “Those involved will face the full weight of the law, and we will ensure they stay in litigation until convicted.
We won’t settle for theft charges. We’re going after them for economic sabotage.”
News
“Anyone Fighting for Nnamdi Kanu’s Release is an Enemy of Nigeria” – Bashir Ahmad
Bashir Ahmad, a former media aide to ex-President Muhammadu Buhari, has warned those pushing for the release of Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB), saying such individuals are enemies of Nigeria.
On his X platform, Ahmad made it clear, stating, “Anyone advocating for the release of Nnamdi Kanu, a terrorist and leader of the banned IPOB group, should be seen as an enemy of this nation.”
Kanu, known for his call for an independent Biafra and his support for the secession of the southeastern region of Nigeria, has been a contentious figure for years.
The Nigerian government arrested him, accusing him of instigating violence and plotting the division of the country.
Despite court rulings that cleared him, Kanu remains in the custody of the Department of State Services (DSS).
His detention continues despite legal setbacks, including a 2022 ruling that acquitted and discharged him.
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