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Tinubu Woos G-20 Investors, FAAC Meets Over Multiple Taxation
President Bola Tinubu has assured international investors from G20 nations that their money is safe within the borders of the country.
The president disclosed this during a panel discussion titled “Fostering Local Value Chains and Investments in Africa — The Role of the German Private Sector at the G20 Compact with Africa Economic Conference, hosted by German Chancellor, Olaf Scholz, in Berlin, on Monday.
He highlighted to the investors that Nigeria has a large market and is ready to leverage all its advantages to become successful.
While the president is trying to woo investors in Germany, the Federation Account Allocation Committee is mulling plans to take decisive actions against multiple taxation in the country.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, stated this at the opening of FAAC’s retreat on Monday in Delta. He announced that the government is not set to overburden taxpayers with many new taxes but will rather broaden its tax base while simplifying and streamlining tax administration in the country.
In Germany on Monday, Tinubu said, “Your money is safe… We are eager and ready to partner with you…We have the youngest, largest, and most vibrant youth population in Africa…equally, we have…a well-educated population, a massive market, and the political will to bring it all together under my leadership.”
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, conveyed this in a statement titled, ‘President Tinubu to investors: Nigerians are the greatest asset and advantage we have over other nations.’ Tinubu further explained to the investors that since he assumed office in May 2023, his administration has embarked on transformative changes, removing all obstacles hindering businesses in the country.
“We are reforming the economy based on the principle and philosophy of good governance,” the President affirmed.
He noted that while promoting the rule of law is crucial for attracting foreign investments, Nigeria’s energetic youth population and well-educated populace represent the most significant incentive for investors toward the mutually beneficial replication of China’s economic resurgence.
“We are eager and ready to partner with you. We have the youngest, largest, and most vibrant youth population in Africa. Equally, we have every ingredient required in making a modern economy: a well-educated population, a massive market, and the political will to bring it all together under my leadership,” he continued.
Tinubu stressed that Africa now fully recognises the relationship between the inflow of investor money and the sanctity of contracts. The president further assured potential investors that Nigeria has moved beyond restrictive policies, and today, capital can be moved in and out of the country freely, providing flexibility for investors.
He also highlighted the socio-political stability in the country, saying, “Nigeria has consolidated its democracy with several consecutive handovers of power.
“There is stability and predictability in the socio-political development of our country, which provides a conducive atmosphere for business operations and investment.”
He affirmed that the Federal Government is also dogged in pursuit of natural gas development. He further disclosed that the country is set to implement tax reforms.
He said, “The world knows Nigeria as a leader in the energy sector. Our vast gas deposits and business-friendly environment make us an attractive investment destination.
“But we are going a step further now. We are creating fiscal responsibility and tax reforms as we reform our financial institutions to accommodate foreign investments expeditiously.”
Meanwhile, in Delta on Monday, the Minister of Finance, Mr Wale Edun, who was represented by the ministry’s Permanent Secretary, Mr Okokon Udo, declared that the government is not set to overburden taxpayers with many new taxes, but will rather broaden its tax base while simplifying and streamlining tax administration in the country.
Edun, who highlighted the government’s target of a tax-to-GDP ratio of 18 per cent by 2026, said, “We all know that achieving tax revenue to GDP target of 22 per cent and tax to GDP of 18 per cent by 2026 are parts of the cardinal objectives of this administration.
“However, in doing that we appreciate the need not to overburden the taxpayers by introducing so many new taxes. What is necessary to be done is to broaden the tax base and simplify and streamline tax administration for ease of collection. That is why, among the prior activities of this government after coming to office, was the constitution of a presidential Committee on fiscal Policy and Tax Reforms. The Committee has already submitted an interim report full of optimism.
“The Federal Government is poised to restore Government revenue, promote fiscal balance and prudent management of government expenditure.”
Multiple taxes have been a bane to Nigerian businesses. Recently, telecommunication operators lamented that they are now faced with 52 different taxes.
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, noted that the panel has suggested the merger of over 200 taxes being paid by Nigerian businesses into 10.
He said, “We have over 60 taxes and levies, officially collectible by federal, state, and local governments. Unofficially, those taxes are over 200, making life difficult for our people. So, the taxes at all levels of government combined, we think, should be less than 10.”
Backing the minister’s claim to expand the reduce multiple taxation, the governor of Delta State, Sheriff Oborevwori, who was represented by his Deputy, Mr Monday Onyema, affirmed that taxes are the dividend of a thriving private sector.
He said, “Tax is the dividend of a thriving private sector. For us to reap the benefits, we need to, as a matter of exigency, remove the institutional bottlenecks that make the cost of doing business in Nigeria unbearably high.
“It is only after we have done this that we can realistically expect to widen the tax base and diversify the economy. It is inevitable that where the cost of doing business is frustratingly high, tax evasion and tax avoidance will be pervasive.”
He also declared that the country’s tax-to-GDP ratio is comparatively low, making it vulnerable to disruptions in the global economy. He stated that a strong resilient and competitive economy requires a flourishing private sector.
The Rivers State Government has commended the Church of Nigeria (Anglican Communion) for its outstanding contributions to the development of Rivers State, particularly in the areas of peacebuilding, education, healthcare, and moral development.
Governor of Rivers State, Siminalayi Fubara, stated that the Church has remained a dependable partner in promoting peace, unity, justice, moral discipline, and social harmony across society.
The Governor, who was represented by the Secretary to the State Government, Dr. Dagogo Wokoma, made the remarks during the thanksgiving service marking the 30th Anniversary and First Session of the 11th Synod of the Diocese of Niger Delta North, held at St. Peter’s Anglican Church on Sunday.
Governor Fubara described the Synod’s theme, “Kingdom Advancement: The Priority of Every Believer,” as timely and relevant, considering the prevailing realities in society.
According to him, the Church continues to play a vital role in shaping societal values and inspiring hope among citizens.
“The Church remains a vital partner in promoting peace, unity, justice, and moral discipline. Its role in shaping values and inspiring hope cannot be overemphasized,” he stated.
The Governor further acknowledged the Anglican Communion’s contributions in education, healthcare delivery, youth empowerment, humanitarian services, and spiritual guidance across communities in Rivers State.
“The Rivers State Government appreciates the invaluable contributions of the Anglican Communion in education, healthcare, youth development, humanitarian support, and spiritual guidance. Your impact across communities in Rivers State continues to strengthen families and promote peaceful coexistence among our people,” he added.
Governor Fubara reaffirmed his administration’s commitment to building a peaceful, united, and prosperous Rivers State where all citizens can thrive irrespective of religion, ethnicity, or social background.
He also urged the Synod to continue praying for sustainable development and progress in Rivers State and Nigeria at large.
Earlier in his sermon, the Guest Minister, Joseph Olushola, spoke on the topic, “Kingdom Investment and Internal Rewards,” urging Christians to remain faithful stewards of God’s blessings and committed to advancing God’s kingdom through service and generosity.
The cleric emphasized that believers are custodians of the virtues and resources entrusted to them by God, stressing that divine rewards are based on faithfulness and impact rather than material possessions.
The Shell Nigeria Gas Limited, in partnership with the Manufacturers Association of Nigeria (MAN), 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.
By; Kevin Nengia
Rivers State Deputy Governor, Prof. Ngozi Nma Odu, has charged newlywed couples to build their marriages on the virtues of love and submission as taught in the Word of God.
Prof. Odu gave the charge at the wedding ceremony of Amblessed Favour Sunny-Cookey and Samson Jesuganji at Lifegate Power Ministries, Dominion Cathedral, in Port Harcourt on Saturday, 16th May 2026.
The Deputy Governor congratulated the couple on beginning a new phase of life together and prayed for God’s blessings upon their union, noting that the couple had been raised by godly parents and encouraged them to uphold the Christian values instilled in them.
Referring to the sermon delivered during the ceremony, Prof. Odu emphasized that the principles of love and submission remain fundamental to a successful marriage.
According to her, genuine love reflects the nature of God, stressing that love should remain the foundation of the couple’s relationship as they journey through life together.
Prof. Odu further prayed for enduring peace, happiness, and progress in the home, expressing confidence that the marriage would continue to flourish under God’s guidance.
The Deputy Governor also commended the families of the couple for their support and upbringing, while urging the newlyweds to always remember the significance of the day and the commitment they had made before God and witnesses.
In his sermon at the wedding, the Founder and Presiding Pastor of Salvation Ministries, Pastor David Ibiyeomie, stated that marriage did not originate from Western culture, traditions, or human ideas, but from God, whom he described as the “manufacturer” of marriage.
According to the cleric, couples seeking lasting and peaceful homes must rely on biblical principles rather than societal trends or assumptions.
He explained that many marital crises and rising divorce rates stem from ignorance and failure to apply scriptural teachings in family life.
Drawing from the biblical parable of building a house on a rock, Pastor Ibiyeomie said the Word of God remains the only solid foundation capable of sustaining marriages through challenges and difficult times.
He noted that marriage naturally comes with unexpected realities and pressures, stressing that religious ceremonies or cultural practices alone are not enough to sustain a home without proper understanding of God’s instructions.
The pastor further warned that ignorance of scripture remains one of the greatest weapons against believers, urging Christians to study and practice the Word of God rather than merely attending church services.
It would be recalled that the bride is the daughter of Pastor Sunny Cookey the Founder and Presiding Pastor of Lifegate Ministries. The Ceremony had lots of Ministers in attendance which includes Apostle Zilly Aggrey, Pastor George Izunwa, and Bishop Winston Iwo