Headlines
Bill to Increase VAT Makes Speedy Progress in Senate, Passes Second Reading
An Executive bill forwarded to the National Assembly seeking to make changes in the Nigerian tax and fiscal law scaled second reading at the upper chamber on Wednesday.
Senators however protested the non-inclusion of details of the bill, which seeks among others, raising the current Value Added Tax from five per cent to 7.5 per cent.
The lawmakers said the absence of the bill details would not enable them to make informed contributions.
The President of the Senate, Ahmad Lawan, however insisted that the bill be discussed without the details made available to senators.
Senators Yaroe Binus (Adamawa South) and Betty Apiafi (Rivers West) separately raised points of order, drawing the attention of the President of the Senate to the issue.
Lawan ruled both of them out of order and maintained that the details of the bill would only be made available at the committee level.
Lawan said, “To handle that, we have already asked that our secretariat distributes all the Acts that we want to amend and I want to urge the committee to work very assiduously.
“This should not be compromised at all. Our colleagues who raised the issue did so because they wanted to contribute.
“I think what we have done is still within our tradition and our convention of debating the general principles.
“The issue of revenue in Nigeria today is the major issue affecting our economy.
“The economy of this country like most developing economies depends on public expenditure and until we are able to get it, collate them efficiently and effectively we will not be able to fund public expenditure well.
“This bill will help in generating and collecting this kind of revenue.”
Leading the debate on the bill, the Senate Leader, Yahaya Abdullahi, said the bill sought to promote fiscal equity by mitigating instances of regressive taxation; reforming domestic laws to align with global best practices; and introducing tax incentives for investments in infrastructure and capital markets.
The Punch
Former governor of Anambra State, presidential candidate of the Labour Party (LP) in the 2023 election, Mr. Peter Obi, has officially defected to the coalition-backed African Democratic Congress (ADC).
Obi announced the decision on Tuesday at an event held at the Nike Lake Resort, Enugu.
“We are ending this year with the hope that in 2026 we will begin a rescue journey,” Obi said.
The National Chairman of the ADC, David Mark, was among the attendees.
United States Representative Riley Moors has said further military strikes against Islamic State-linked militants in Nigeria could follow recent operations ordered by President Donald Trump, describing the actions as aimed at improving security and protecting Christian communities facing violence.
Moore made the remarks during a televised interview in which he addressed U.S. military strikes carried out on Christmas Day against militant targets in North-west Nigeria.
The strikes were conducted in coordination with the Nigerian government, according to U.S. and Nigerian officials.
“President Trump is not trying to bring war to Nigeria, he’s bringing peace and security to Nigeria and to the thousands of Christians who face horrific violence and death,” Moore said.
He said the Christmas Day strikes against Islamic State affiliates had provided hope to Christians in Nigeria, particularly in areas affected by repeated attacks during past festive periods.
According to U.S. authorities, the strikes targeted camps used by Islamic State-linked groups operating in parts of north-west Nigeria.
Nigerian officials confirmed that the operation was carried out with intelligence support from Nigerian security agencies as part of ongoing counter-terrorism cooperation between both countries.
The United States Africa Command said the operation was intended to degrade the operational capacity of extremist groups responsible for attacks on civilians and security forces.
Nigerian authorities have described the targeted groups as a threat to national security, noting their involvement in killings, kidnappings and raids on rural communities.
Moore said the strikes marked a shift from previous years in which attacks were carried out against civilians during the Christmas period. He said the U.S. administration was focused on preventing further violence by targeting militant groups before they could launch attacks.
U.S. officials have said the military action was carried out with the consent of the Nigerian government and formed part of broader security cooperation between the two countries. Nigeria has received intelligence, training and logistical support from international partners as it seeks to contain militant activity.
Moore had previously called for stronger international attention to attacks on Christian communities in Nigeria and has urged continued U.S. engagement in addressing extremist violence. He said further action would depend on developments on the ground and continued coordination with Nigerian authorities.
Nigerian officials have maintained that counter-terrorism operations are directed at armed groups threatening civilians, regardless of religion, and have reiterated their commitment to restoring security across affected regions.
World-renowned boxer Anthony Joshua on Monday survived a ghastly road accident in Makun, Ogun State.
Eyewitnesses report that the incident occurred along a busy highway of the Lagos-Ibadan expressway.
The vehicle carrying Joshua, a Lexus Jeep with the number plate, KRD 850 HN, reportedly collided with a stationary truck under circumstances that are still being investigated.
Joshua reportedly sustained minor injuries, while two persons were said to have died on the spot.
