News
Taiwo Oyedele confirms that the FG will remain committed to tax reforms.

In a recent interview, Mr. Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, affirmed the Nigerian federal government’s commitment to advancing significant changes in the country’s tax legislation, despite ongoing opposition. He emphasized that these reforms are crucial for enhancing the nation’s revenue, projecting that such changes would result in a doubling of revenue in relation to the gross domestic product (GDP) within the next two to three years.
The proposed reforms, initiated by President Bola Tinubu on October 3, include four critical tax reform bills currently under consideration by the National Assembly. These bills encompass the Nigeria Tax Bill, the Tax Administration Bill, and the establishment of a Joint Revenue Board. Notably, the proposed measures aim to increase the value-added tax (VAT) from 7.5 percent to 10 percent by 2025 and to reduce the company income tax (CIT) from an average of 30 percent to 27.5 percent over the same timeframe. Additionally, high earners may see a rise in their personal income tax (PIT) to 25 percent from approximately 20 percent starting next year.
Another significant element of the proposed reforms involves the dissolution of the Federal Inland Revenue Service (FIRS) in favor of creating a new entity, the Nigeria Revenue Service. This shift aims to streamline tax administration and enhance efficiency within the tax collection framework.
As Nigeria navigates these crucial tax reforms, the government’s resolve to implement them underscores a strategic move towards fiscal sustainability and economic resilience, designed to bolster the nation’s financial health in the coming years.
Foreign
China Urges Trump to “Stop Doing the Wrong Thing” Amidst Trade Tensions

Following a significant downturn in US markets, attributed to China’s recent imposition of reciprocal tariffs, Chinese Foreign Ministry Spokesperson Guo Jiakun has issued a statement urging the United States to reconsider its trade policies. In a Facebook post, Jiakun asserted that “the market has spoken,” suggesting a direct correlation between US protectionist measures and economic instability.
Jiakun further emphasized the need for “equal-footed consultation” to resolve trade differences, calling upon the US to “cease its wrongful actions.” This sentiment is echoed by several Chinese commerce associations representing key industries, who have issued statements encouraging diversification and warning of inflationary pressures within the United States as a result of the escalating tariffs.
The current escalation stems from a recent announcement by former President Donald Trump of an additional 34 per cent tariff on Chinese goods, prompting a swift retaliatory response from China, including further levies on American goods and restrictions on rare earth element exports. The situation remains tense, with both sides demonstrating a firm commitment to their respective positions.
News
UNICROSS Students Protest “No Fees, No Examinations” Policy.

Yesterday witnessed a demonstration at the University of Cross River State (UNICROSS) as students voiced their strong opposition to the recently implemented “No Fees, No Examinations” policy. The policy, which prevents students with outstanding fees from participating in examinations, has ignited widespread discontent amongst the student body.
Protesting students marched across campus, carrying placards and voicing concerns regarding the financial burden imposed by the university. Slogans like “Education is a Right, Not a Privilege” underscored the core argument against the policy.
Student representatives articulated the financial hardships faced by many, emphasizing the need for alternative solutions that do not impede academic progress. The university’s silence on the matter, exemplified by the refusal of University spokesman Onen Onen to comment, has further fueled student frustration. The situation remains unresolved, with the potential for continued unrest if a mutually agreeable solution is not reached.
News
Calls have been made for Tinubu to declare a state of emergency in Zamfara Amidst Security Crisis.

The United Democratic Coalition (UDC) has formally requested President Bola Tinubu to declare a state of emergency in Zamfara State, citing a severe degradation of security and a perceived breakdown of democratic principles. In a statement released Friday, UDC President Abdulrahman Danladi characterized Zamfara as a “state under siege,” alleging governmental abandonment of its duty to protect citizens.
The UDC highlighted the recent suspension of ten Zamfara State lawmakers, purportedly for raising concerns regarding insecurity and illegal mining, as evidence of “executive tyranny.” Drawing parallels with the recent political tensions in Rivers State, the coalition argued that the severity of the situation in Zamfara warrants immediate federal intervention to restore order and safeguard democratic institutions. The UDC proposes a six-month state of emergency to allow security forces to stabilize the region and ensure a return to constitutional governance. Furthermore, they demand the reinstatement of the suspended lawmakers and an investigation into potential executive overreach.
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