National
Nigeria’s Tax Reform Committee Proposes Comprehensive Changes to Address Economic Challenges
In a pivotal presentation to the Nigerian Senate, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has laid out the committee’s findings and recommendations to overhaul the country’s tax system.
Established to address Nigeria’s persistent economic challenges, the committee’s proposals aim to tackle issues such as high poverty rates, a sluggish economy, and an unsustainable reliance on public debt.
Oyedele highlighted the alarming statistic that 133 million Nigerians currently live in multidimensional poverty, facing limited access to education, healthcare, and stable employment.
He said, the country’s economic growth rate has been consistently outpaced by its population growth, exacerbating the poverty crisis.
Explaining further, he indicated that the Nigeria’s economic landscape is also marred by high inflation, declining foreign direct investment, and an unfriendly business environment.
“With government revenue falling short of budgetary needs, Nigeria has increasingly turned to borrowing, leaving the country in a precarious fiscal position.
“Tax collection has been inefficient, with many Nigerians expressing distrust in the government’s ability to fairly collect and use taxes.”
In response, he said the committee held extensive consultations with state governors, private sector leaders, and civil society groups, all of whom voiced their concerns about the current tax system.
The committee’s findings revealed a widespread dissatisfaction with the tax structure and a lack of faith in the government’s ability to implement meaningful reforms.
To address these issues, the committee has proposed four key legislative bills designed to streamline and improve Nigeria’s tax system
The first is the Nigeria Tax Bill, the comprehensive bill he said is aimed at consolidating existing taxes into one framework, simplifying tax processes, and offering exemptions for low-income earners.
The Tax Administration Bill: This bill focuses on standardizing tax administration, promoting the use of technology in collection, and improving the efficiency of tax processes.
The Nigerian Revenue Service Establishment Bill: Proposes the creation of a new, more coordinated revenue service to enhance tax collection and reduce duplication of efforts by various agencies.
The Joint Revenue Board Establishment Bill: Aimed at fostering collaboration between different tax authorities, this bill also introduces the establishment of a Tax Ombudsman to protect small businesses from unfair tax practices.
Explaining further Oyedele said among the key reforms are the removal of minimum tax requirements for loss-making companies, the introduction of a 15% effective tax rate on profits for large corporations, and the removal of VAT on essential goods and services.
Additionally, the proposal includes raising the income tax thresholds to exclude low-income earners from taxation, thus alleviating the financial burden on the poorest Nigerians.
The committee also called for a revision of the VAT revenue-sharing formula, which currently favors states with large corporate headquarters, proposing a fairer distribution based on consumption within each state.
In concluding his presentation, Oyedele emphasized the urgent need for tax reforms to stimulate economic growth and reduce poverty.
He urged the Senate to support the proposed bills, which, if enacted, could foster a more business-friendly environment and strengthen Nigeria’s economic foundations.
As Nigeria faces mounting fiscal pressures, these proposed tax reforms represent a crucial step in ensuring a more equitable and sustainable economic future.
Young Nigerian writers have been urged to participate in the “Voices of Our Heritage” national writing competition, an initiative aimed at fostering creativity and cultural appreciation.
The Minister of Art, Culture, Tourism, and the Creative Economy, Barrister Hannatu Musa Musawa, who made the call said the competition is open to students aged 10-18, adding that it is seeking to discover and nurture emerging literary talents.
The special adviser to the minister on Media quoted her to have indicated that the initiative is targedted at empowering young writers to create, publish, and even earn from their digital books, promoting both entrepreneurship and job opportunities.
“This competition is about preserving our cultural heritage while shaping the future of our nation,” she stated.
Organized as part of the 2024-25 National Young Authors Fair (NYAF), the competition welcomes entries from primary, secondary, and university students. Registration closes on February 20, 2025, with submissions open until March 20, 2025.
Winners will be announced on April 10, 2025, with the top 10 receiving ₦250,000 each, along with book publication, national recognition, and distribution.
The competition aligns with the Ministry’s vision to promote cultural heritage, creativity, and education through strategic partnerships.
For registration, visit: https://www.yaf.bribooks.com/ng/2024/student.
***As 306 Stakeholders Participate in Inaugural AI Awareness Day
Nigeria has taken a bold step in the global Artificial Intelligence (AI) revolution as key stakeholders gathered to explore the nation’s role in AI-driven education and policy development.
The National Coordinator of the 2025 AI Awareness Day, Professor Emeritus Peter Okebukola, described the event as a major milestone, highlighting Nigeria’s potential to emerge as a leader in AI research, education, and application.
Held virtually on February 17, 2025, the inaugural AI Awareness Day in Higher Education was co-hosted by the Virtual Institute for Capacity Building in Higher Education (VICBHE), National Universities Commission (NUC), National Open University of Nigeria (NOUN), Tertiary Education Trust Fund (TETFund), Okebukola Science Foundation (OSF), and the Association of African Universities (AAU).
The event brought together 306 participants, including heads of regulatory agencies (NUC, NBTE, and NCCE), scholars from universities, polytechnics, and colleges of education, policymakers, educators, and AI practitioners.
Discussions focused on AI’s transformative role in higher education, best practices, and ethical AI deployment in Nigeria.
The event, chaired by Professor Yakubu Ochefu, former Secretary-General of the Committee of Vice-Chancellors of Nigerian Universities, centered on raising awareness about AI’s role in higher education transformation, assessing Nigeria’s progress in AI education and its contribution to global AI research and celebrating achievements in AI research and education within Nigerian institutions.
Other areas of focus included exploring the integration of AI into university curricula, research, and administration and discussing AI-driven innovations to address national educational challenges.
The event featured a symposium, the launch of the AI in Higher Education in Africa Newsletter, and the presentation of the three-volume Handbook on AI and Quality Higher Education.
One of the highlights of the event was the presentation of awards to recognise outstanding contributions in AI research, education, and policy within the Nigerian higher education system.
The first position in the Best Institutional AI Policy in Higher Education Award in the universities category was won by Obafemi Awolowo University, Ile Ife. Second and third positions were won by Lagos State University, Ojo and Federal University of Technology, Minna respectively.
In the polytechnics category, the first prize went to Living Spring College of Technology and Innovation, Osogbo. For the Best AI Researcher in the universities category, Prof. Olatunji Sunday Olusanya of Adekunle Ajasin University came first. Dr. Salau Ayodeji of Afe Babalola University, Ado-Ekiti and Dr. Awotunde Joseph Bamidele of the University of Ilorin came second and third respectively.
For the polytechnics category, Mr. Mohammed Modiu of Yaba college of Technology came first. Mr. Salami Ayo of Federal College of Education, Iwo came first in the colleges of education category.
Other awards include the Best Programme in Artificial Intelligence. For the universities category, the B.Sc. Computer Science of Thomas Adewumi University came first. Programmes of four universities tied in the second position. These are B.Sc. Management Information Systems of Covenant University, Ota; B.Sc. Industrial Mathematics (Computer Option) also of Covenant University, Ota; and B.Sc. Computer Science of the University of Benin.
The first position in the universities category for the Best AI Application for Enhancing Teaching and Learning went to Prof. Onyenwe Ikechukwu Ekene of Nnamdi Azikiwe University, Awka. Five scholars tied in the second position. These are Dr. Oguntosin Victoria of Covenant University; Dr. Oluwakemi Olurinola of Olabisi Onabanjo University; Professor Busari Mutiu of Federal University of Agriculture Abeokuta and Professor Ibezim Nnenna of University of Nigeria, Nsukka. In the polytechnic category, first prize went to Dr. Okikiola Folasade of Yaba College of Technology.
For the colleges of education category, first prize was earned by Dr. Usman Stephen of Ipere College of Education Agyaragu, Nasarawa State, while Mr. Bako Mahmud Malam of Adamu Tafawa Balewa College of Education Kangere Bauchi State came second.
Other awards were presented for Best AI Programme and Best AI Application for Teaching and Learning across universities, polytechnics, and colleges of education.
Key resolutions include expanding the AI Awareness Day to all levels of the educational system; development of a strategic plan to ensure that Nigeria plays a leadership role in the global development of AI; strengthening the implementation of the AU strategic plan on AI; and forging strong public-private partnerships, investing boldly in our people and infrastructure.
Others are that the Federal Ministry of Communications, Innovation and Digital Economy, NITDA, other agencies of government and other stakeholders should involve the National Association of Artificial Intelligence Practitioners (NAAIP) in policy making, implementation and other matters of Artificial Intelligence; and that within the 30% institutional allowance in the CCMAS, Nigerian universities should be encouraged to start GST courses on Artificial Intelligence (AI) and Machine Learning (ML) in place of or in addition to the existing computer appreciation courses.
The successful launch of the AI Awareness Day marks a turning point in Nigeria’s AI journey, reinforcing the country’s commitment to leveraging AI for educational excellence, innovation, and national development.
National
Diplomatic Fallout: Ribadu’s Outburst Sparks Criticism Over Nigeria’s Foreign Policy Approach
A fresh controversy has emerged over Nigeria’s handling of diplomatic affairs, as former Jigawa State Governor, Sule Lamido, takes aim at National Security Adviser (NSA) Nuhu Ribadu for his public condemnation of Canada’s visa denials to Nigerian military personnel.
Lamido, a seasoned politician and former foreign minister, expressed frustration over what he described as a pattern of missteps in Nigeria’s foreign policy under the current administration. He argued that the NSA’s public outburst against Canada was both unnecessary and damaging to the country’s international reputation.
“This is yet another example of our rookie approach to foreign relations,” Lamido stated. “Rather than resorting to public accusations, the appropriate response would have been for the Ministry of Foreign Affairs to summon the Canadian High Commissioner and address the issue through official diplomatic channels.”
The ex-governor warned that Ribadu’s actions had not only failed to resolve the issue but had also drawn unnecessary public attention to an embarrassing situation. “Our foreign relations must be handled with tact and professionalism. The NSA should not be taking over the responsibilities of the Minister of Foreign Affairs,” he said.
This latest episode comes amid broader concerns over Nigeria’s international standing, following strained relations within ECOWAS and a series of diplomatic missteps on the global stage. Analysts now worry that such uncoordinated responses could weaken Nigeria’s position in international affairs.
With Nigeria’s diplomatic credibility on the line, calls are growing for a more disciplined and strategic approach to engaging with foreign nations—one that prioritizes diplomacy over public confrontations.
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