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The Presidency explains how proposed tax changes are expected to improve housing affordability for Nigerians.

Ikechukwu Emmanuel

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The Presidency has announced that the forthcoming Tax Reforms Bill is projected to significantly enhance housing affordability and accessibility for Nigerians. This initiative seeks to alleviate the tax burden currently affecting the construction and real estate industries.

Speaking at the Building and Construction Industry Forum in Abuja, Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms, emphasized the Bill’s intent to benefit low-income earners, addressing prevalent misconceptions. Key provisions include the elimination of Value Added Tax (VAT) on real estate transactions, thereby reducing the cost of building materials and housing. Furthermore, exemptions on stamp duties for rents below N10 million per month and capital gains tax on the sale of dwelling houses are included.

These measures, according to Mr. Oyedele, are designed to directly address the cost barriers that hinder homeownership and contribute to a more robust and accessible housing market within Nigeria. The passage of the Tax Reforms Bill is therefore anticipated to play a crucial role in achieving a more equitable and affordable housing landscape for all Nigerians.

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Foreign

Zelenskyy Rejects Cession of Crimea, Cites Ukrainian Constitution.

Ikechukwu Emmanuel

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President Volodymyr Zelenskyy has firmly rejected a reported proposal from the United States suggesting the cession of Crimea to Russia. Speaking in South Africa, Zelenskyy reiterated Ukraine’s unwavering stance on the peninsula, emphasizing that such a concession is incompatible with Ukrainian law and its constitution, which designates Crimea as an integral part of Ukraine.

Zelenskyy’s statement follows criticism from former President Trump, who has accused the Ukrainian leader of intransigence in negotiating a peace settlement. The timing also coincides with a recent escalation of hostilities, including deadly Russian strikes on Kyiv that prompted Zelenskyy to cut short his African tour.

Addressing the ongoing conflict, Zelenskyy lamented the lack of international pressure on Russia to pursue a peaceful resolution, emphasizing the devastating toll on Ukrainian civilians. He underscored Ukraine’s willingness to engage in negotiations within the bounds of its legal and constitutional framework. The future of Crimea remains a key point of contention, highlighting the complex challenges in achieving a lasting peace.

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Judicial Scrutiny Hinders President Trump Agenda.

Ikechukwu Emmanuel

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Recent judicial actions have curtailed several initiatives advanced by President Trump through executive orders. Federal judges intervened on Thursday, specifically targeting aspects related to voting, immigration, and diversity, equity, and inclusion (DEI) in education.

Notably, a U.S. District Judge blocked the administration’s effort to unilaterally add a proof-of-citizenship requirement to the federal voter registration form. This stemmed from a March 25th executive order challenged by the Democratic party, who argued the President lacks the authority to dictate federal election regulations. Judge Colleen Kollar-Kotelly sided with the plaintiffs, effectively halting a provision compelling federal agencies to assess citizenship status before offering voter registration opportunities at public assistance agencies. These legal challenges underscore the ongoing checks and balances within the American system, limiting the executive branch’s unilateral power.

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Air Peace to Resume Flights Following Resolution of NiMeT Strike.

Ikechukwu Emmanuel

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Air Peace has announced the resumption of flight operations commencing Friday, following the suspension of the Nigerian Meteorological Agency (NiMeT) workers’ strike.

In a statement released Thursday evening, Air Peace Head of Corporate Communications, Ejike Ndiulo, expressed gratitude to passengers for their patience and understanding during the disruption. He also commended the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo (SAN), for his swift and decisive intervention in resolving the industrial dispute.

Mr. Ndiulo emphasized that the Minister’s efforts were instrumental in restoring normalcy to the aviation sector and underscored his commitment to a safer, more efficient, and investor-friendly Nigerian aviation industry. Air Peace reaffirms its commitment to providing safe and reliable air travel services.

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