Featured
Refunds On Roads, Paris Club: APC Governors Acknowledge Receipt Of N2trn …Say Ministerial List Not Discussed At Meeting With Buhari
The Chairman of the Progressives Governors Forum, Atiku Bagudu, has said governors are grateful to President Muhammadu Buhari for the release of about two trillion naira to the 36 states of the federation.
Bagudu stated this when he addressed State House correspondents at the end of a closed-door meeting between President Buhari and governors elected under the platform of the All Progressives Congress in Abuja, yesterday.
The Kebbi State governor said, “Furthermore, we used the opportunity to thank Mr President for all he has been doing and all the successes recorded in the areas he campaigned upon, which are security, economy and accountability.
“We are quite happy with his support for states where close to N2 trillion was given to states in the form of restructuring of loans, refunds on federal roads, refund for Paris Club, which has helped encouraged economic activities in the states, payment of salaries, payment of pensions, payment of gratuities and overall investment by infrastructural spending.
“We are also appreciative of increased investment in agriculture which has been because of conscious decision to support agriculture as a way out of economic challenges and provide economic growth,’’ he said.
On the meeting between the president and the governors, Bagudu said they were in the villa to congratulate the president on the National Assembly elections and to thank him for the confidence he had in the members of the forum.
Bagudu added, “We offer to work with Mr President to ensure that we increase economic performance, the security of our country and social cohesion.”
He disclosed that the Governors have not discussed the issue of the ministerial list with President Muhammadu Buhari, adding that the matter of a cabinet for Buhari’s second term was purely the President’s decision, “he should appoint whosoever he wishes.”
The meeting was to celebrate the victory of the party in the emergence of the National Assembly presiding officers positions.
The anointed candidates of the APC were elected last week for the positions of the Senate President, Deputy Senate President, Speaker of the House of Representatives and the Deputy Speaker of the House which are the four presiding officers positions.
Bagudu, who is the governor of Kebbi State, mentioned some of the interventions to include the Paris Club refunds, the budget support fund which is in form of loan and the refund for money expended by states on federal roads.
He said: “This morning (yesterday), Mr President graciously granted audience to progressive Governors forum. We came to congratulate him on the National Assembly elections and thank him for the confidence he had on the progressive Governors forum members who participated actively in all the processes that led to the emergence of Senator Ahmad Lawan, as Senate President, Ovie Omo-Agege as Deputy Senate President, Hon. Femi Gbajabiamila, as Speaker (House of Representatives) and Hon. Ahmed Wase as Deputy Speaker.
“Furthermore, we used the opportunity to thank Mr President in all he has been doing and all the successes recorded in the areas which he campaigned upon and by extension our party which are security, economy and accountability.
“We are quite happy with his support for states where close to N2 trillion was given to states in form of restructuring of loans, refunds on federal roads, refund for Paris Club, which has helped encourage economic activities in the states, payment of salaries, payment of pensions, payment of gratuities and overall investment by infrastructural spending.
“We are also appreciative of increased investment in agriculture which has been because of conscious decision to support agriculture as a way out of economic challenges and provide economic growth.
“We also congratulate Mr President that despite drop in incomes, the value for money that he insists upon has begun to pay off in terms of more security across the country even though some challenges still remain, he is working hard on that with sincerity.
“Last and not the least, we offer to work with Mr President continuously to ensure that we increase economic performance, security of our country and social cohesion.”
Governor Bagudu further explained that the Progressive Governors Forum used the occasion to thank President Buhari for celebrating the Democracy Day which was in consistent with the promise he made, adding that it was a major element reflective of his democratic ideals in ensuring that an issue which was so important to many Nigerians has been finally addressed in a way.
Asked on the promises he was making to Nigerians as his party, the APC was in total control of leadership at all levels, he said, “Well, we as progressive governors forum will push so that that legislation and cooperation between states and federal government will intensify, we will be more active during investments in all areas that can provide employment and incomes will rapidly increase. We will collaborate more to ensure that security is enhanced particularly when it involves state borders.”
Also asked, if the issue of ministerial list was discussed at the meeting, the Governor simply said, “No. It is an executive decision.”
Present at the meeting were Chairman of the Nigeria’s Governors Forum, NGF and Governor of Ekiti State, Dr Kayode Fayemi, and Yahaya Bello of Kogi State, whose colleagues led by Fayemi sang birthday song for him on his 44th birthday.
Others were Godwin Obaseki of Edo, Dapo Abiodun of Ogun, Yobe, Babagana Zulum of Borno, Babajide Sanwo-Olu, Abdullah iGanduje of Kano, Bagudu of Kebbi, Simon Lalong of Plateau, Gboyega Oyetola of Osun, Mai-Mala Buni of Yobe, Abdulrahman Abdulrazq of Kwara and Abdullahi Sule of Nasarawa, Atiku Bagudu of Kebbi State, Abubakar Badaru of Jigawa State, Mannir Yakubu, Deputy Governor of Katsina, and Hadiza Balaraba, Deputy Governor of Kaduna.
President Bola Tinubu yesterday signed into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.
The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.
The ceremony took place at the Presidential Villa, yesterday.
The ceremony was witnessed by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.
The presidency had earlier stated that the laws would transform tax administration in the country, increase revenue generation, improve the business environment, and give a boost to domestic and foreign investments.
“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Special Adviser to the President on Media, Bayo Onanuga said on Wednesday.
Before the signing of the four bills, President Tinubu had earlier yesterday, said the tax reform bills will reset Nigeria’s economic trajectory and simplify its complex fiscal landscape.
Announcing the development via his official X handle, yesterday, the President declared, “In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country.”
Tinubu made a call to investors and citizens alike, saying, “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”
He described the bills as not just technical adjustments but a direct intervention to ease burdens on struggling Nigerians.
“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet,” Tinubu wrote.
According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”
He added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency.
The tax reforms, first introduced in October 2024, were part of Tinubu’s post-subsidy-removal recovery plan, aimed at expanding revenue without stifling productivity.
However, the bills faced turbulence at the National Assembly and amongst some state governors who rejected its passing in 2024.
At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed.
They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.
After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax.
By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.
In his tweet, Tinubu stressed that this is just the beginning of Nigeria’s tax evolution.
“We are laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.
“A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he stated.
He further acknowledged the contributions of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and Nigeria’s subnational governments.
The President added, “We are not just signing tax bills but rewriting the social contract.
“We are not there yet, but we are firmly on the road.”
The Senate has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) over its failure to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over ?210 trillion in its audited reports from 2017 to 2023.
Despite being summoned, no officials or external auditors from NNPCL showed up yesterday.
However, representatives from the representatives of the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.
Angered by the NNPCL’s absence, the committee, yesterday, issued a 10-day ultimatum, demanding the company’s top executives to appear before the panel by July 10 or face constitutional sanctions.
A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.
It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.
The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation.
“Furthermore, members of the Board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session on Thursday, 26th June, 2025.
“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”
But lawmakers rejected the request.
The Committee Chairman, Senator Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.
“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada stated.
“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” he warned.
Other lawmakers echoed similar frustrations.
Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.
The Tide reports that Ojulari took over from Mele Kyari on April 2, 2025.
Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.
Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate, saying, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”
Last week, the Senate panel grilled Segun and other top executives over what they described as “mind-boggling” irregularities in NNPCL’s financial statements.
The Senate flagged ?103 trillion in accrued expenses, including ?600 billion in retention fees, legal, and auditing costs—without supporting documentation.
Also questioned was another ?103 trillion listed under receivables. Just before the hearing, NNPCL submitted a revised report contradicting the previously published figures, raising more concerns.
The committee has demanded detailed answers to 11 specific queries and warned that failure to comply could trigger legislative consequences.
The National Association of Nigerian Travel Agencies (NANTA) said over 17 million Nigerians travelled out between 2023 and 2024.
This is as the association announced that it would be organising a maiden edition of Eastern Travel Market 2025 in Uyo, Akwa Ibom State capital from 27th to 30th August, 2025.
Vice Chairman of NANTA, Eastern Zone, Hope Ehiogie, disclosed this during a news briefing in Port Harcourt.
Ehiogie explained that the event aims to bring together over 1,000 travel professionals to discuss the future of the industry in the nation and give visibility to airlines, hospitality firms, hospitals and institutions in the South-South and South-East, tagged Eastern Zone.
He stated that the 17 million number marks a significant increase in overseas travel and tours.
According to him, “Nigerian travel industry has seen significant growth, with 17 million people traveling out of the country in 2023”.
Ehiogie further said the potential of tourism and travel would bring in over $12 million into the nation’s economy by 2026, saying it would be a major spike in the sector, as 2024 recorded about $4 million.
“The potential of tourism and travel is that it can generate about $12 million for the nation’s economy by 2026. Last year it was $4 million.
“In the area of travels, over 17 million Nigerians traveled out of the country two years ago for different purposes. This included, health, religious purposes, visit, education and others,” Ehiogie said.
While highlighting the potential of Nigeria’s tourism, he said the hospitality industry in Nigeria has come of age, saying it is now second to none.
The Vice Chairman of NANTA, Eastern Zone further said, “We are not creating an enabling environment for business to thrive. We need to support the industry and provide the necessary infrastructure for growth.”
He said the country has a lot of tourism potential, especially as the government is now showing interest in and supporting the sector.
Ehiogie emphasized that NANTA has been working to support the industry with initiatives such as training schools and platforms for airlines and hotels to sell their products.
He added, “We now have about four to five training schools in the region, and within two years, the first set of students will graduate. We are helping airlines sell tickets and hotels sell their rooms.”
Also speaking, former Chairman of the Board of Trustees of NANTA, Stephen Isokariari of Dial Travels, called for more support from the industry.
Isokariari stated, “We need to work together to grow the industry and contribute to the nation’s Gross Domestic Product.
“With the right support and infrastructure, the Nigerian travel industry has the potential to make a significant contribution to the nation’s economy.”