Nation

FG To Tax Profits Made By Global Tech, Digital Giants In Nigeria

Published

5 years ago

June 28, 2021

Legal provisions will be utilised to collect taxes on profits made locally by global technology and digital firms not based in Nigeria, but with significant economic presence in the country.
Vice President Yemi Osinbajo stated this during an interaction with a delegation from the Chartered Institute of Taxation of Nigeria (CITN), led by its President, Mr Adesina Adedayo, at the Presidential Villa.
Osinbajo’s spokesman, Laolu Akande, made this known in a statement on Sunday in Abuja,
“While the Federal Government will not be raising tax rates at this time, based on the Finance Act 2019, it is already empowered to widen the tax net.
“This includes collecting taxes on the Nigerian income of global tech giants with significant economic presence here, even if they have not established an office or permanent establishment, and are currently not paying taxes in Nigeria.
“In this regard, Section 4 of the Finance Act 2019, provides that the finance minister, may by order of the president, determine what constitutes the significant economic presence of a company, other than a Nigerian company.
”We have had severe economic downturns, which of course implies that we may not be able to collect taxes with the aggressiveness that would ordinarily be expected.
“I think the most important thing is that we must widen our tax net so that more people who are eligible to pay tax are paying,” Osinbajo said.
Akande siad in the statement that the vice president also noted that several efforts had been made in that regard.
“I am sure you are aware of the initiatives including the Voluntary Assets and Income Declaration Scheme (VAIDS), which was also an attempt to bring more people into the tax net, including those who have foreign assets.”
According to the vice president, the Federal Government has also recently taken a step with respect to a lot of the technology companies that are not represented in Nigeria, but who do huge volumes of business in the country.
He said that the Finance Act had shown that Nigeria was prepared to ensure that the big technology companies did not escape without their fair share of taxation in Nigeria.
“Many of them do incredible volumes here in Nigeria and in several other parts of the region.
“We have drawn up the regulations and we are prepared to go, and I think that we are at least in a good place to tap into some of the tax resources we can get from some of these companies.
“Besides the Federal Government, a recent Bloomberg news article reported that “Governments around the world are grappling with how to modernise their legal frameworks to account for the global reach of the digital economy, reshaping how policymakers think about issues as varied as monopoly power, taxation and workers’ rights.”
He said that international talks were currently ongoing in Paris on global standard rules for governments to receive taxes from such digital and technology firms with significant economic presence in foreign countries.
Osinbajo gave further explanations on legal provisions for the subject matter.
“In Nigeria, according to the Finance Act 2019, a company will pay taxes if it transmits, emits or receives signals, sounds, messages, images or data of any kind by cable, radio, electromagnetic systems, or any other electronic or wireless apparatus to Nigeria.
“This in respect of any activity, including electronic commerce, application store, high-frequency trading, electronic data storage, online adverts, participative network platform, online payments and so on, to the extent that the company has significant economic presence in Nigeria and profit can be attributable to such activity.”
He said that the Federal Government had no plans to raise taxes currently in reference to arguments that tax rates were too low, comparing Nigeria to other places in the region where the rates were much higher.
“So we have had to balance all of these issues, because clearly, higher tax rates can be a disincentive to businesses and investments.
“In terms of domestic resource mobilisation, we are trying to do the best we can given the present circumstances and I believe that there is room for improvement.
“Actually, under the Finance Act 2019, the Federal Government has reduced taxes for small companies – companies with less than N25 million in annual turnover are charged Zero Company Income Tax, CIT.
“Also CIT for Companies with revenues between N25 million and N100m (described in the Act as “medium-sized” companies) has been reduced from 30 per cent to 20 per cent.
“Besides, Nigerians making minimum wage income are not to pay tax at all,” he said.
He said that under the 2020 Finance Act, there was also an exemption of small companies from payment of education tax under the Tertiary Education Trust fund (TETFUND), meaning companies with less than N25 million turnover were eligible.
Osinbajo added there was a 50 per cent reduction in minimum tax; from 0.5 per cent to 0.25 per cent for gross turnover for financial years ending between Jan. 1, 2020 and Dec. 31, 2021.
Earlier in his remarks, Adedayo commended the leadership of the vice president in the implementation of key government interventions in the economy.
“We acknowledge your great zeal and commitment to the Nigeria project,” he said.
Adedayo said the visit became necessary given the enormous work the administration had done towards addressing the huge fiscal challenges in the polity, public financing reforms, and sustained efforts towards addressing infrastructure deficit.
Other members of the delegation included the Vice President of the Institute, Samuel Olushola Agbeluyi, past Presidents, Dame Gladys Simplice, and Dr James Naiyeju.
In attendance also were; council members Prof. Muhammad Mainoma and Babangida Ibrahim., as well as Adefisayo Awogbade, CITN Registrar/Chief Executive.

Nation

THE LAPSES OF THE MEDIA IN ELECTIONS

Published

4 days ago

May 29, 2026

The Tide

The media is supposed to be a platform through which people express their thoughts, beliefs, and opinions on issues of public interest. Unfortunately, it has often failed to live up to its role as the fourth estate of the realm.During the 2023 elections, the media recorded several lapses that deserve critical examination in academic and professional spaces. Before discussing these failures in detail, it is important to briefly explain the meaning, role, and duties of the media. In simple terms, the media refers to the main channels of mass communication, including broadcasting, print publishing, and the internet.

It is a collective term for all means through which information reaches the public. The media is often called the fourth tier of government because of the popular saying, “No media, no society.” This is not an exaggeration. Scholars have shown that the media plays an integral role in society, since political, economic, religious, and academic activities all depend on information flow through the media.

The word MEDIA can be broken down to reflect its core functions: M – Meeting the People E – Educating the People D – Discussing with the People I – Involving the People A – Accessing the PeopleSpecifically during elections, the media is expected to provide accurate and timely information to the public by reporting and updating citizens on government and electoral activities. This responsibility is central to keeping the electorate informed.The media also strengthens democracy by engaging citizens on critical issues affecting the electoral process. When the media effectively disseminates relevant information, the public can see through the failures of government, hold leaders accountable, and propose solutions that serve the common good.

Social media platforms such as Facebook, Twitter, and Instagram play a vital role in democratic societies because they allow mass participation. Unlike radio and television, social media is accessible to anyone with a smartphone and data bundle, making it the most inclusive platform for political discourse. Despite these roles, the media must not abandon its ethics or promote partisan agendas that mislead the public. In many schools of thought, the media is described as closely related to the judiciary.

People often see the media as a place to voice grievances and seek justice.However, it is fair to say that the media has lost ground by failing to fulfill its duties during elections. Below are ten key lapses observed in the February 2023 elections.Lack of coordination among journalists. Many press personnel who covered different polling units were poorly equipped and unprepared. Some lacked functional cameras and modern technology needed to carry out professional reporting.

Partisanship and breach of ethics. Media personnel, who are supposed to remain non-partisan, openly violated professional ethics by taking political sides and favoring certain candidates in their reporting.Commercialization of coverage. Some journalists prioritized money over news. It was disappointing to see professionals from reputable stations engaging in what I call “Oga, find me something syndrome” begging politicians for money in exchange for favorable coverage or interviews.Loss of independence and self-censorship. On election day, some journalists took instructions from politicians on what to report and what to suppress. This compromised the independence of the media and reduced public trust.

Poor post-election reporting. Few media outlets reported what actually happened at the polling units. Incidents of violence, voter intimidation, and irregularities were either underreported or ignored entirely, while praise was lavished on politicians instead of amplifying the voices of the people.Spread of misinformation and unverified claims. In the rush to be first, some media houses published unverified results and rumors from social media without fact-checking. This fueled confusion and tension among the electorate.Inadequate coverage of rural and marginalized areas. Media attention was concentrated in urban centers, leaving rural polling units underreported. The experiences and challenges of rural voters were largely absent from mainstream coverage.

Sensationalism over substance. Some outlets prioritized sensational headlines and conflict-driven stories over factual analysis of policies and candidate manifestos, leaving voters uninformed about real issues. Failure to hold INEC accountable in real time. While INEC faced logistical failures and delays, many media houses were slow to question officials or demand explanations on air, missing opportunities for live accountability.

Neglect of voter education. Beyond reporting results, the media did little to educate voters on procedures, rights, and what to do in case of irregularities. This left many citizens uninformed and vulnerable on election day.These lapses weaken public trust and undermine the credibility of the electoral process. For the media to regain its role as a watchdog of democracy, it must return to the principles of accuracy, impartiality, and public service.

The media must be informed to follow its ethics as the 2027 elections approaches. This is encourage electorates rely on the authenticity and objectivity of media practice.Failure to uphold media standards will further make the country plunge into political apathy, electoral violence and disgust for those in the media practice.

By KRUKRUBO, NYE TAMUNODIKI.

Nation

RSU, Otonti Nduka Foundation Holds Centenary Conference, Unveil Book on Values in Nigeria

Published

2 weeks ago

May 18, 2026

The Tide

Rivers State University and the Otonti Nduka Foundation for Values Education jointly hosted a two-day National Conference on 8 and 9 May 2026 to examine the state of values in Nigeria.

The two days conference held at Rivers State University convocation arena brought together academics, policymakers, legal experts and education leaders under the theme _“Trends and Challenges in Upholding Values in Nigeria.”_

The gathering focused on policy gaps, curriculum reform, and the role of ethics in public service and education.

The event opened on Friday with remarks from Vice Chancellor Prof. Chief Isaac Zeb-Obipi, who stressed the need to address declining moral and civic values across Nigeria’s education and public sectors. A book of abstracts for the plenary sessions was also presented to participants.

Key speakers included former Attorney General Chief Dr Kanu Agabi, SAN; NERDC Executive Secretary Prof. Shehu Salisu; Prof. Hauwa Imam, FNAE, of the University of Abuja; former Rivers SUBEB Chairman Ven Dr Fyneface Akah, ; former NIMASA DG Dr Hon. Dakuku Adol-Peterside; and RSU Director of ICT Prof. Sunny Orike.

Discussions centered on integrating values education into schools, tertiary institutions and public institutions, alongside the impact of technology on moral development among young Nigerians. Panel and plenary sessions produced practical recommendations for curriculum and policy reform.

On Saturday, the foundation marked its centenary with the unveiling of the book _Otonti Nduka in History_, launched by Chief Engr. Grant Offor, FNSE. The Nigerian Academy of Education held a ceremonial procession led by its President Prof. Olu Jegede and the Ikwerre Professors Forum.

In a communiqué, participants called for stronger collaboration between government, civil society and academia to mainstream values education nationwide. They recommended reviewing teacher training curricula and expanding digital platforms to promote ethical civic engagement, with the foundation pledging to share the outcomes with education authorities for implementation.

Dignitaries present included Ogbakor Ikwerre Worldwide as Chief Host, Prof. Emeritus Chief T. Uzodimma Nwala, the Ikenga 1 of Mbaise and first philosophy student of Prof. Otonti Nduka, alongside scholars and community leaders.

Amadi Akujobi

Nation

Shell, MAN Back Rivers’ Drive for Expanded Gas Supply to Industries

Published

2 weeks ago

May 18, 2026

The Tide

The Shell Nigeria Gas Limited, in partnership with the Manufacturers Association of Nigeria, has reaffirmed support for efforts to expand gas distribution infrastructure in Rivers State as part of initiatives aimed at improving access to affordable, cleaner and more reliable energy for industries across the South-South region.

The commitment was highlighted during the SNG–MAN Business Forum held in Port Harcourt, where stakeholders from the industrial and public sectors examined the role of natural gas in driving industrialisation, boosting local production and strengthening energy security.

Speaking at the forum on behalf of the Managing Director of Shell Nigeria Gas Limited, the company’s Head of Gas Distribution, Mr. Chukwuka Amos Ejesi, described natural gas as a critical component of Nigeria’s energy mix and a key driver of sustainable industrial growth.

According to him, Nigeria’s gas development agenda has reached a stage where policy direction must be matched with practical implementation capable of addressing the energy challenges confronting manufacturers.

He noted that pipeline gas offers industries a cleaner, more dependable and cost-effective energy alternative capable of supporting uninterrupted operations, reducing emissions and improving production efficiency.

“Gas is the backbone of manufacturing, and we are encouraged by the growing recognition among stakeholders of the need for cleaner and more reliable energy solutions,” he said.

Ejesi stressed the need for sustained collaboration among energy providers, government institutions and industrial stakeholders to maximise the country’s gas resources for economic development.

He added that improved gas infrastructure would strengthen manufacturing value chains, enhance productivity and promote more competitive industrial operations across Rivers State and the wider South-South region.

Participants at the forum also emphasised the importance of expanding energy infrastructure as a pathway to unlocking industrial capacity, reducing operating costs and promoting sustainable industrial development.

Representing Governor Siminalayi Fubara, the Director-General of the Rivers State Investment Promotion Agency, Dr. Chamberlain Peterside, reaffirmed the state government’s commitment to partnering with private sector investors to revitalise industrial activities in the state.

He identified key projects targeted under the initiative to include the revival of the Ahoada Industrial Park, the New Port City project and the proposed Bonny Industrial Park, all aimed at stimulating economic growth and expanding industrial opportunities along the Bonny corridor.

According to the governor, the long-term vision is to position Rivers State as a leading manufacturing hub in Southern Nigeria through strategic public-private partnerships.

Governor Fubara also commended Shell Nigeria Gas and MAN for sustaining engagements geared towards improving industrial energy access, noting that gas infrastructure development remains central to the state’s economic recovery plans.

He further observed that the gas sector presents enormous opportunities for economic growth, especially as global energy systems continue to shift towards cleaner energy sources.

The governor called on stakeholders to work collectively towards developing a practical and sustainable gas framework capable of supporting the state’s industrial and energy development objectives.

Chairman of MAN, Rivers and Bayelsa Branch, Elder Vincent Okuku, described gas as indispensable to industrial operations, noting that many manufacturers continue to struggle with the high cost of alternative energy sources.

Similarly, President of the Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture, Dr. Chinyere Ngozi Nwoga, said the transition to natural gas had become increasingly necessary for businesses seeking stable and cost-efficient operations.

“Pipeline natural gas provides a more cost-effective and reliable source of energy for industries,” she stated.

Also speaking, former Chairman of MAN in Rivers and Bayelsa States, Mrs. Emilia Akpan, stressed the need to align energy infrastructure development with investment in human capacity.

She maintained that rebuilding the state’s economy would require not only reliable energy supply but also the development of technical skills needed to support long-term industrial growth.

By Kevin Nengia