Nation
FG To Tax Profits Made By Global Tech, Digital Giants In Nigeria
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
Youths Vow To Continue Protest Over Dilapidated Highway
Youths from five local government areas in Northern Cross River State have concluded a one-week warning protest and blockade of the dilapidated Ikom-Wula-Obudu federal highway over the weekend.
They have vowed to resume the road blocks if by this week the authorities do not intervene to fix the road.
More than five thousand locals, mostly youths from Obanliku, Etung, Obudu, Ikom and Boki LGAs trooped out everyday for one week, used palm trees to block the highway to draw state and federal government’s attention to their plights, requesting the repair of a road has has been unmotorable for about 40 years.
They warned that if they do not see any actions from the state or federal governments, they will resume their Plan B protest, stop revenue collections and make governance unpalatable.
The youths also warned that without interventions on the road which has claimed several lives, including that of last week when a pregnant woman died with her baby in the full glare of the protesters because of the terrible road, no election can hold in the area next year.
One of the leaders of the No Road , No Election protest, who is also the Abo Youths in Boki LGA, Dr Martins Assam said both the federal and state governments have neglected the region, which generates more than 70 percent state revenue from agriculture.
He said if machinery is not deployed by next week, they will not have any option than to embark on unpalatable and disastrous protest, and stop revenue collections in the area.
“Last week we had only a warning strike for one good week. We’ll embark on a more elaborate, disastrous one-month blockade of this highway until they intervene. We call on our Governor and representatives in the National Assembly to act now by impressing on the federal government to immediately fix this road else. We’re not asking for two much but to be treated as human beings.”
Another protester, Clinton Obi from the Etung axis said, “We’ve been neglected for 40 years. This Ikom-Obudu federal highway had been impassable. The government has removed its concentration from our plights. By this one week protest, we want action on this road otherwise the next phase of protest will be costly.”
Reverend Father Francis Amaozo, priest in charge of St. Nicholas parish in Nashua, Boki LGA said, “I have also been a victim of this very deplorable road. Enough is now enough. We’ve been betrayed by our representatives and other leaders, so that we in this axis have become endangered species on this road. I have lost some many members on this road.”
Member, representing the Boki-Ikom federal constituency of the state in the House of Representatives, Bisong Victor Abang had pleaded with the locals to be a bit more patient with the government as action will commence shortly.
Nation
UNIPORT VC Receives Inaugural Lecture Brochure As Professor Highlights Urgent Need For Drug Repurposing In Malaria Fight
The Vice Chancellor of the University of Port Harcourt (UNIPORT), Prof Owunari Georgewill, last Thursday received the inaugural lecture brochure from the Inaugural Lecturer, Professor Udeme Georgewill, during a ceremony at the university’s Centre of Excellence attended by academics, researchers, students, and distinguished guests.
Delivering her lecture, Professor Udeme Georgewill described the occasion as the culmination of years of dedicated research, teaching, and service to humanity. He explained that his work as a pharmacologist has consistently focused on finding practical, affordable, and scientifically sound solutions to health challenges that disproportionately affect developing countries, particularly malaria, which remains one of Nigeria’s most pressing public health concerns.
She noted that Nigeria continues to bear one of the heaviest malaria burdens globally, accounting for a significant percentage of worldwide cases and deaths. The disease, largely caused by the Plasmodium falciparum parasite and transmitted through Anopheles mosquitoes, remains especially dangerous for children under five years and pregnant women, threatening not only present populations but unborn generations. Despite years of intervention efforts, malaria continues to strain families, health systems, and the national economy.
Prof Georgewill empha-sised that while Artemisinin-based Combination Therapies such as Artemether-Lumefantrine remain the gold standard for malaria treatment, emerging resistance patterns pose a serious challenge. He explained that drug resistance is a survival mechanism of the parasite, enabling it to adapt and reduce the effectiveness of medications designed to eliminate it. According to her, instances where patients do not feel better after initial treatment sometimes lead to repeated dosing or the search for injectable alternatives, practices that can worsen resistance and complicate treatment outcomes.
Against this backdrop, she advocated strongly for drug repurposing as a strategic and urgent response. Drug repurposing, he explained, involves identifying new therapeutic uses for already approved and widely available medications. He likened the concept to “old wine in new wineskins,” stressing that medicines already proven safe for certain conditions can be carefully re-evaluated and optimised for new roles in malaria management. This approach, she argued, offers advantages such as reduced research timelines, lower development costs, and faster clinical application compared to developing entirely new drugs from scratch.
She disclosed that her research had progressed from laboratory investigations to clinical evaluations, where his team is studying combinations involving Artemether-Lumefantrine and Ivermectin to determine their effectiveness in improving treatment outcomes and possibly reducing transmission. Clinical trials are ongoing, and findings will be communicated upon completion of regulatory processes. However, he cautioned strongly against self-medication, warning that misuse of drugs without proper diagnosis and prescription can lead to organ damage, treatment failure, and increased resistance.
Referencing global health commitments, Prof Georgewill highlighted Sustainable Development Goal 3.3, which seeks to end epidemics of malaria and other major infectious diseases by 2030. She questioned whether the goal remains attainable under current realities, especially with growing resistance and funding gaps. He also referred to strategies of the World Health Organisation aimed at drastically reducing malaria incidence and mortality while pushing toward elimination in several countries.
Looking ahead, she revealed that her team is building comprehensive research databases to support artificial intelligence-driven drug repurposing. He stressed that the integration of artificial intelligence, molecular docking, and advanced screening technologies is transforming global drug discovery, and Nigerian researchers must be equipped to participate competitively in this evolving scientific landscape.
In her recommendations, she called for the establishment of a National Centre for Drug Repurposing to coordinate research efforts and leverage artificial intelligence in identifying new indications for existing medicines. He urged policymakers to simplify and accelerate the translation of laboratory discoveries into clinical application, ensuring that scientific breakthroughs benefit the public more efficiently. She also appealed to the university and relevant authorities to increase funding and modernise laboratory infrastructure, including high-throughput screening facilities, to strengthen Nigeria’s position in global biomedical research.
The lecture concluded with expressions of gratitude to God, the university leadership, colleagues, students, and guests, as the event underscored the University of Port Harcourt’s commitment to research excellence and its role in addressing critical public health challenges facing Nigeria and the wider world.
Nation
Niger CAN Rejects Proposed Hisbah Bill, Urges Gov Bago Not To Assent
The Christian Association of Nigeria, CAN, Niger State Chapter, has rejected the proposed Niger State Hisbah Directorates Bill, describing it as controversial and capable of deepening religious division in the state.
In a statement signed by the State Chairman, Bishop Bulus Dauwa Yohanna, and made available to The Tide’s source yesterday, the association urged Governor Mohammed Umaru Bago not to assent to the bill if it is passed by the State House of Assembly.
The bill, sponsored by the member representing Chanchaga Constituency, Hon. Mohammed Abubakar, seeks to establish a Hisbah Directorate in Niger State.
CAN warned that the legislation could be perceived as discriminatory against Christians and may heighten tension in the religiously diverse state.
“Governor Mohammed Umaru Bago, we, the entire Christendom in the state, wish to draw your attention to what could easily create division among the people you govern,” the statement read in part.
The association questioned the necessity and benefits of the proposed law, asking what economic or social value it would add to the state.
It further argued that existing security agencies, including the Nigeria Police and the Nigeria Security and Civil Defence Corps, already have constitutional mandates to maintain law and order.
The Christian body also faulted the legislative process, disputing claims that it was consulted during a public hearing on the bill.
It insisted that it was neither invited nor notified of any such engagement, despite being a critical stakeholder in the state.
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