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FG Set To Reduce Taxes To 9

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In order to create a more business-friendly environment, the Federal Government says it is working to reduce taxes from the current 62 to a maximum of nine.
The Chairman, Presidential Fiscal Policy and Tax Reforms Committee, Mr. Taiwo Oyedele, disclosed this, Tuesday, at the 2023 annual conference of the Institute of Chartered Accountants of Nigeria (ICAN) in Abuja.
He said the step had become imperative, as the current multiplicity of taxes had made tax administration cumbersome and ineffective.
Oyedele compared Nigeria’s tax revenue of N15.194 trillion in 2022 to the equivalent of N78 trillion revenue of South Africa, with only 10 taxes in the same period.
To achieve the tax reduction goal, he said administrative intervention and constitutional amendment would be required.
In her remarks, the Accountant -General of the Federation (AGF), Dr. Oluwatoyin Madein, noted that accountants played very critical roles and unique responsibilities in driving the nation’s development.
According to her, “transparency builds trust”, and such accountants must ensure accountability in both the public and private sectors.
The AGF tasked accountants to also address the unique needs of marginalised communities, with a view to ensuring inclusiveness of the various segments of the nation.
On his part, the President of ICAN, Dr. Innocent Okwuosa, warned against growing disparities across socio-economic lines in the country.
“We have chosen not to be silent on the disparities which we consider as a threat to our nation.  The wide gap between the rich and the poor is now a threat to the nation.  We have been consistent in demanding accountability from the three tiers of government.
“It is evident that addressing socio-economic disparities has become a moral imperative for nations, especially given the widening inequalities across various indictators.
“To rectify this situation, key measures should include bolstering fiscal management, rationalising preferential trade restrictions and tax exemptions.
“Such decisive actions would notably enhance the business environment, attract foreign direct investments and reduce inflation”, he stated.
Dr. Okwuosa added that there was need for inclusive development blueprint for Nigeria.
In a message, President Bola Tinubu promised to take steps to ensure economic development for all Nigerians.
He said in the message delivered by the Minister of Power, Mr. Adebayo Adelabu, that he was determined to create an “inclusive, equitable and prosperous Nigeria,” adding that “inclusivity is a moral responsibility”.
The President urged accountants to engage in robust discussions on transformative policies that would enhance inclusive development, adding that the administration was committed to learning from ICAN’s expertise to work towards a better future for all Nigerians.
In her remarks, the President of the International Federation of Accountants (IFAC), Ms. Asmaa Resmouki, accountants must develop their competences in order to achieve sustainability and transparency.
She said core competences must apply to business acumen and ethical behaviour.
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NPA Assures On Staff Welfare 

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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