Latest news with #BolaTinubu
Yahoo
9 hours ago
- Business
- Yahoo
Teachers pay dispute shuts schools for months in Nigerian capital
A strike by elementary school teachers in Nigeria's capital is dragging into its fourth month, as workers demand to be paid the minimum wage enacted almost a year ago but yet to be implemented. Affecting more than 400 schools in Abuja, the prolonged closure has left over 50,000 pupils without lessons, according to the teachers' union, in a country where more than 20 million children are already out of school. The Nigeria Union of Teachers (NUT) in the capital says it will not call off its strike until the 70,000 naira ($45) national minimum wage is implemented and outstanding salaries and entitlements are settled. President Bola Tinubu signed the new wage into law in July 2024, more than doubling the west African country's previous minimum wage of 30,000 naira. The move was meant to soften the effects of rampant inflation that has followed the government's economic reforms over the past two years. Yet implementation has lagged nationwide as local governments have been left to institute the wage hikes. "We went on two warning strikes and we are currently on the third," union leader Abdullahi Mohammed Shafas told AFP. "Despite arguments and promises, the government has not been able to fulfil any till now." Critics have blamed Nyesom Wike, Minister of the Federal Capital Territory, which includes Abuja, for the impasse. Wike says he has approved the new wages, accusing the local government councils of failing to pay. - 'Sitting at home' - Elisha Goni, a teacher at a public elementary school in Abuja's Garki neighbourhood, said he hardly scrapes by on his 120,000 naira salary -- which would also be bumped up if the new minimum wage is applied. "I can barely cater for myself, not to talk of my family, from the little I am earning," said Goni who lives 50 kilometres (30 miles) from his workplace to evade the expensive rent in the city centre. "Teachers cannot be lecturing on empty stomachs." At a Local Education Authority (LEA) primary school, the gate creaks in the wind as an AFP reporter entered while a security guard dozed off in his wooden chair -- his new routine since the classrooms went quiet early this year. "I used to be busy controlling students from roaming around the gate, helping teachers, watching the kids," the 54-year-old, who gave his name as Abdu, said. "Now, I just sleep after breakfast till lunch. There is nothing else to do." For many pupils, the disruption means more than boredom. Blessing, 10, should have been preparing for her final exam to enter junior secondary school. But instead she sat under the scorching sun, scooping ground chillies into small plastic bags at her mother's roadside milling shop. Her mother Mary, who only gave her first name, said she was considering enrolling Blessing in a nearby private school, "even though it is poorly rated". "At least she won't just be sitting at home," Mary muttered, her eyes fixed on the busy roadside. Nigerian television footage has shown small protests by placard-waving pupils in uniform, chanting that they want to return to school. One of the placards read: "You call us leaders of tomorrow while stopping our school for nine weeks." The strike comes as a further blow to an already creaky education system that sees millions of children fail to attend regularly, while adults contend with Nigeria's worst cost-of-living crisis in a generation. su-nro/sn/sbk
Zawya
a day ago
- Business
- Zawya
Nigeria: New tax regime's implementation to commence January 2026 — FG
President Bola Tinubu on Thursday signed into law four tax reform bills on key areas of Nigeria's fiscal and revenue framework. The bills passed by the National Assembly were signed during a ceremony held at the Aso Rock Presidential Villa, Abuja. The government has announced that the implementation of the new tax laws will commence on 1 January 2026, giving stakeholders a six-month transition period to prepare. The Federal Inland Revenue Service (FIRS) is, by presidential assent to the bills, now known as the Nigerian Revenue Service (NRS), as revealed by its Chairman, Zacch Adedeji. The bills are: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill. The bills, which generated a lot of controversy, were passed by the National Assembly after months of consultations with various interest groups and stakeholders. '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,' Onanuga said. The presidential assent to the bills was witnessed by the Senate President, the Speaker of the House of Representatives, the Senate Majority Leader, the House Majority Leader, the Chairman of the Senate Committee on Finance, and his House counterpart. The Chairman of the Governors' Forum, Abdulrahman Abdulrazaq of Kwara State; the Chairman of the Progressives Governors' Forum, Hope Uzodinma of Imo State; the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; and the Attorney General of the Federation, Lateef Fagbemi, were also at the ceremony. One of the four bills is the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria's fragmented tax laws into a harmonised statute. 'By reducing the multiplicity of taxes and eliminating duplication, the bill will enhance the ease of doing business, reduce taxpayer compliance burdens, and create a more predictable fiscal environment,' said the Presidency in a statement on Wednesday night. The second bill, the Nigeria Tax Administration Bill, will establish a uniform legal and operational framework for tax administration across federal, state, and local governments. The Nigeria Revenue Service (Establishment) Bill, the third bill, repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency—the Nigeria Revenue Service. It defines the NRS's expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms. The fourth bill is the Joint Revenue Board (Establishment) Bill. It provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government. It introduces essential oversight mechanisms, including the establishment of a Tax Appeal Tribunal and an Office of the Tax Ombudsman. Meanwhile, the Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, and the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, commended President Bola Tinubu's bold leadership in signing into law four historic tax reform bills, setting the stage for a complete overhaul of Nigeria's fiscal architecture. Speaking at a post-signing press briefing at the Presidential Villa, Abuja, Adedeji described the moment as 'a dream come true' and hailed the President's 'vision, courage, and commitment' to modernising the tax system. The four bills—the Nigeria Tax Reform Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and Joint Revenue Board (Establishment) Bill—were signed into law by Tinubu following extensive consultations and legislative processes. Adedeji announced that the implementation of the new tax laws will commence on 1 January 2026, giving stakeholders a six-month transition period to prepare. 'The effective date for implementation has been set for 1 January 2026, as announced by the relevant ministry,' he said. 'This gives us a full six-month window for robust sensitisation, thorough planning, and alignment with the government's fiscal calendar. A reform of this magnitude cannot be rushed.' He also revealed that the Federal Inland Revenue Service would now transition into the Nigeria Revenue Service (NRS) with an expanded mandate covering both tax and non-tax revenue, promising greater efficiency and transparency. In his remarks, Oyedele stressed that the reforms are pro-growth and pro-poor, aimed at improving equity, reducing burdens on vulnerable Nigerians, and stimulating economic development. 'Over one-third of workers in both public and private sectors will now be completely exempt from Personal Income Tax. More than 90% of micro, small, and nano enterprises are also exempt from Corporate Income Tax, VAT, and PAYE obligations,' he noted. Most significantly, Oyedele announced that essential goods and services, including food, healthcare, education, transportation, and accommodation, are now exempt from VAT, a move expected to lower the cost of living for millions of Nigerians. 'These essential categories account for over 80% of average household spending in Nigeria. By removing VAT, we're putting money back in the hands of ordinary people,' he added. Oyedele was clear that the tax reforms are not about increasing tax rates, but about closing loopholes, simplifying processes, and expanding the tax base through digitalisation. 'The new laws are designed to end discretionary waivers and ensure that tax incentives are accessible to all qualifying businesses, not just the well-connected,' he said. Speaking at the Presidential Villa shortly after the signing, House of Representatives member Hon. James Faleke and Senator Sani Mohammed praised the President's courage, especially in the face of initial resistance. Faleke said the National Assembly had taken its time to consult widely and harmonise over 70 disparate taxes across federal, state, and local governments. 'This is a product of deep consultations and compromise. And laws are not static. We're open to amending them if need be, in the national interest,' he said. Senator Sani Mohammed likened the reform to the removal of fuel subsidy, another tough but necessary decision by the Tinubu administration. 'This isn't about raising taxes. It's about plugging leakages, leveraging technology, and ensuring fair contributions across all sectors,' he said, adding that state and local governments should expect increased revenue from 2026 onward. Both Adedeji and Oyedele acknowledged that implementation will be the real test. 'No matter how beautiful the law, it's meaningless without proper execution,' Oyedele cautioned. 'Now is the time to move from legislation to action, and that will require a united effort from both public and private sectors.' Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
a day ago
- Business
- Zawya
Nigeria, Brazil sign $1bln deal to boost agriculture and food security
Nigeria and Brazil have signed a $1bn agreement focused on strengthening agriculture and food security in Nigeria. The partnership will deploy mechanised farming equipment, training programmes, and service centres to help transform Nigeria's largely subsistence agricultural sector. A drone view shows ships and containers at the Port of Santos, in Santos, Brazil April 3, 2025. Much farming in Nigeria is subsistence, and land is owned by families or individuals, which makes large-scale acquisition problematic. Nigeria also imports food for its 200 million-plus population. 'We are moving from subsistence to scale in agriculture, and in energy, we are taking long-overdue steps to attract serious investment into gas production, refining, and renewables,' says Kasim Shettima, vice president of the Federal Republic of Nigeria The agreements were signed in Abuja during a visit by Brazil's vice president, Geraldo Alckmin, to Africa's most populous nation. Shettima told his Brazilian counterpart that reforms embarked upon by President Bola Tinubu have helped reshape Nigeria's economy. Nigeria is targeting a $1t economy by 2030, with reforms to agriculture, energy, education, and public finance. The country has also asked banks to recapitalise to attract foreign investments.
BBC News
a day ago
- Politics
- BBC News
‘No more acrimony, peace don come' - Wike tok afta e meet wit Tinubu and Fubara
'No more acrimony. Peace don finally come to di state.' Na wetin FCT Minister Nyesom Wike tok at di end of a peace meeting between im and Rivers State Govnor Siminialayi Fubara wit President Bola Tinubu for Aso Rock. Photos of smiles and handshake between Govnor Fubara, di State Assembly members with Minister of FCT Nyesom Wike and President Tinubu don raise hopes of a possible end to di emergency rule for di state. Govnor Fubara alongside Wike and Martins Amaewhule, speaker of di Rivers State House of Assembly and oda Assembly members meet with President Tinubu to broker a peace deal wey dey expected to return democratic governance to di state. Dis meeting dey expected to be a crucial part of di peace building process since President Tinubu declare a state of emergency wey suspend elected state executives and di House of Assembly on 18 March 2025, over three months ago. Afta di meeting, di FCT minister and Govnor Fubara say peace don return as dem don finally reconcile. Wike say dem don agree to work togeda wit di govnor and di govnor too don agree to work with dem. E say dem be members of di same political family wey dey disagree sometimes but now, dem don settle and dem come togeda to inform Mr. president. Photos from di meeting suggest a breakthrough in efforts to resolve di political crisis for di state as one photo show di president with Govnor Fubara and FCT minister all dey smile and shake hands. Oda photos show di FCT Minister and di govnor dey waka side by side with di Speaker Amaewhule and oda state lawmakers dey follow dem. Govnor Fubara say e happy say dis day of reconciliation don come to be as e dey necessary and important for di peace and progress of Rivers State. 'With di help of di president and di agreement of di leaders of di state, peace don return to Rivers State. We go do evritin within our power to make sure say we sustain am dis time around.' Govnor Fubara tok. How we reach here? All dis crises arise from disagreement between Govnor Fubara and di FCT Minister Wike with many reactions wey include: Many pipo don criticise di emergency rule wey see di appointment of a Sole administrator, Vice Admiral Ibok-Ete Ekwe Ibas Rtd, from Cross River State to oversee affairs for di state. E lead to many court cases wey dey challenge am for Federal High Courts both for Port Harcourt and Abuja as dem insist say a tsate of emergency no require di president to suspend di elected govnor and Assembly members and impose a non-indigene on di state to oversee affairs. Even di appointment of sole administrators for di 23 LGAs for di State na anoda issue wey many criticize as dem say e no dey known to law and e only favour one party for di crises. Odas also criticise di dissolution of boards and agencies for di state and even di one wey National Assembly don approve, over N1trillion 2025 state budget as well as clearing some officials for some boards. Di approval of anoda Cross River State indigene, Michael Ekpai, to head di Rivers State Independent Electoral Commission RSIEC wey dey expected to conduct local goment elections also spark criticism. But di main questions na weda dis reconciliation moves go bring an end to di emergency rule soon? Wetin go happen to di court cases wey challenge di emergency rule wey di Federal High Courts never begin proper hearing for most of dem? Wetin go happen to di recent appointments wey di Nigerian Senate approve, dem go still hold or dem go dey suspended? All dis na wetin pipo dey wait to see how e go all play out.
BBC News
2 days ago
- Business
- BBC News
Nigeria's tax reform: What to know as President Bola Tinubu signs new laws
Nigeria's President Bola Tinubu has signed four finance bills into law in a set of major reforms aimed at restructuring the tax system in Africa's most populous government says the new laws will simplify revenue collection, reduce the tax burden on some individuals and businesses, while also helping to raise much-needed government income revenue by making collection more efficient."The tax reforms will protect low-income households and support workers by expanding their disposable income," said President Tinubu in a statement to mark the second anniversary of his administration last month. What reforms were made? The four new laws are:The Nigeria Tax Act, which merges various rules into a single, easier-to-understand code and eliminates more than 50 small, overlapping taxes. The presidency has said that reducing the number of taxes and eliminating duplication, will making doing business easierThe Tax Administration Act, which sets common rules for how taxes are collected across federal, state, and local governmentsThe Nigeria Revenue Service Act, which replaces the Federal Inland Revenue Service (FIRS) with a new, independent agency - the Nigeria Revenue Service (NRS)The Joint Revenue Board Act, which improves co-ordination between levels of government and creates a Tax Ombudsman and Tax Appeal Tribunal to resolve disputesTogether, these laws aim to create a fairer and more efficient tax system across the country, the Nigerian government says. What difference will they make? The impact is expected to be significant especially for low-income earners, small businesses and informal people earning up to 1m naira ($650; £470) a year, a rent relief of 200,000 naira ($130) will be applied, effectively reducing their taxable income to 800,000 naira ($520). This means they will no longer pay income tax, according to Andersen Nigeria, a tax and business advisory of essential goods and services such as food, healthcare, education, rent, power, and baby products will no longer have to charge a Value Added Tax (VAT), helping families better afford their basic businesses with annual turnover below 50m naira ($32,400) will no longer pay company income tax. They will also be allowed to file simpler returns, without needing audited businesses will benefit from reduced corporate tax rates, dropping from 30% to 27.5% in 2025 and 25% in subsequent years. They will also now be able to claim tax credits for VAT paid on expenses and assets, meaning they can get back the 7.5% that would have been paid as are also tax incentives for charitable groups, co-operatives, educational and religious organisations, provided their earnings do not come from commercial activities. Who will be affected the most? Low-income households stand to benefit the most, as many will no longer have to pay income tax while also enjoying price relief on essentials. A typical family spending most of their income on rent, food and transport will see lower costs due to the VAT businesses should also see positive changes through more streamlined bureaucracy, which could help boost compliance and encourage informal traders to enter the tax individuals and luxury consumers may feel the pinch slightly, with higher VAT now expected on luxury goods and premium services, and capital gains tax imposed on large share sales. Were the reforms necessary? The government argued that the tax system was outdated, inefficient and unfairly harsh on the poor. Nigeria's tax-to-GDP ratio, a key measure of how much tax the country collects relative to its economy is just over 10%, far below the African average of 16–18%.Tinubu's administration wants to grow that ratio to 18% by 2026 without raising taxes on basic goods or overburdening struggling simplifying tax rules and encouraging voluntary compliance, officials hope to raise more money for funding infrastructure and public services, such as healthcare and education, as well as reduce the reliance on borrowing money. What are Nigerians saying? Many small business owners welcome the exemption from company income tax but say they remain wary of how it will be enforced in practice."I like that we won't have to pay company income tax any more. But honestly, I just hope they don't replace it with another levy we don't understand. Sometimes you pay tax but still get harassed by officials asking for different permits," says Chidinma, a small business owner in low-income earners, the promise of cheaper essential goods like food, rent and electricity is encouraging, but many are reserving the new tax reforms promise relief for small businesses, economist Emmanuel Idenyi warns that the reality may be different unless enforcement practices change. He says overzealous implementation by tax authorities could undermine the government's good intentions."Even tax officials have revenue targets. So when you file, they reassess and add more. That's where businesses start struggling."Meanwhile, Taiwo Oyedele, who chairs the Presidential Fiscal Policy and Tax Reform Committee, struck a hopeful tone during a recent town-hall meeting."Ninety per cent of Nigerians support the tax reform bills," he said, but cautioned that "successful implementation will depend on awareness and trust".There has been a muted reaction from opposition parties and unions. More BBC stories on Nigeria: Why Nigeria's economy is in such a messWhat is behind the wave of killings in central Nigeria?Culture and colour come out in praise of a Nigerian king'No-bra, no-exam' rule at Nigerian university sparks outrage Go to for more news from the African us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica
