Featured
Use 5G Network To Fight Insecurity, Buhari Tasks Agencies
President MuhammaduBuhari has launched the National Policy on 5G for Nigeria’s Digital Economy, directing all the security institutions to immediately leverage the technology to enhance security in the country.
The 5G technology was approved by the Federal Executive Council (FEC) on September 8, 2021, following a robust debate.
Inaugurating the technology, the president said the Federal Government would take full advantage of the opportunities that 5G provides for the economy, security and well-being of the nation.
He also allayed fears over the health safety of 5G, affirming that such issues had been “effectively addressed” in developing a policy that suits the country.
On the benefits of 5G technologies, the president noted it could support virtually every sector of the economy, including enhanced connectivity, improved healthcare, support for education while fostering smart cities, and boosting agriculture, among other advantages.
“It will also support security institutions with real-time communication.
“5G technology is significantly faster than earlier digital technologies and it provides near real-time communication. This can play a key role in boosting our efforts towards enhancing security across the nation.
“It will enable our security institutions to effectively deploy robotics, autonomous vehicles, augmented and virtual reality to address any security challenges that we face,” he said
He said the National 5G Policy included a deployment plan to ensure that major cities across the country benefit from the technologies.
According to him, the policy is in line with the commitment of this administration to supporting the digital economy as an enabler for the diversification of the national economy.
“It also seeks to make 5G a major driver of the economy, a catalyst for smart cities in the country and a platform for the creation of jobs that support the digital economy.’’
Thereafter, he assured investors that the Federal Government would continue to provide an enabling environment for their businesses to be very successful as Nigeria begins the roll-out of the technology.
Buhari directed the Minister of Communications and Digital Economy, Prof. Isa Pantami, to supervise the implementation of the policy, being done by the Nigerian Communications Commission with the support of other government institutions.
The president also used the occasion to provide a rundown of how his administration had created an enabling environment for investments to thrive in Nigeria’s digital economy.
Meanwhile, he recounted that the journey to the launch of the 5G National policy started with the launch of the National Digital Economy Policy and Strategy in November, 2019 as well as the launch of several policies to strengthen the digital economy.
He said these included the Nigerian National Broadband Plan and the National Policy for the Promotion of Indigenous Content in the Nigerian Telecommunications Sector.
The president noted that under his watch the agreement of the National Economic Council to peg the cost of the Right of Way at N145 per linear metre which was made in 2013, was only implemented in late 2019, after the intervention of the Federal Government.
He observed that the Information and Communications Technology sector played a prime role in enabling Nigeria’s economy to swiftly exit the recession that was triggered by the COVID-19 pandemic.
“The GDP Report of the National Bureau of Statistics showed that the ICT sector was the fastest growing sector in the fourth quarter of 2020 and entire year 2020, recording double-digit growth rates of 14.70per cent and 12.90per cent, respectively.
“The sector also recorded a 17.92per cent contribution to our GDP in the second quarter of last year- this was its highest ever contribution. All these impressive and significant achievements have justified our efforts to support the growth of our digital economy. “
While describing the process of developing the National 5G Policy as “painstaking, inclusive and focused”, Buhari recalled that 5G trials commenced in some selected locations in November, 2019.
“Multi-sectoral stakeholders then deliberated on the report of the trials to ensure that health, security and other concerns were effectively addressed in developing a policy that suits our country.
“The National 5G Policy will position Nigeria to harness the potentials of 5G technologies to further develop the economy and improve the indices of well-being in the nation,” he said.
Pantami affirmed the sector had recorded unprecedented achievements with increased remittances to the Federation Account, resolution of lingering issues in the industry and successful auctioning of the 3.5gigahertz (GHz) spectrum for the deployment of 5G technology.
He thanked the president for the consistent support to the sector, announcing that within two years the Federal Government completed 1,667 ICT related projects.
“As of August, 2021, the sector remitted over N1trillion to the Federation Account and this is unprecedented because the usual remittances are around 200billion annually and this has been increased substantially,” he said.
On the spectrum auction for the 5G, Pantami explained that from the reserve price of N75billion per spectrum, each spectrum was assigned to the winners at the price of over N250billion per spectrum.
The minister expressed confidence that given the experiences from other countries and available research, Nigeria would derive maximum benefits from the deployment of 5G technology.
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.”