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Nigerians Can Breathe Easy As Federal Government Promises Tax Relief And Rejects New Tax Proposals  

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Nigerians Can Breathe Easy As Federal Government Promises Tax Relief And Rejects New Tax Proposals....KINDLY READ THE FULL STORY HERE▶

The Federal Government has ruled out the possibility of introducing any new taxes or raising existing tax rates for Nigerians.

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Taiwo Oyedele, the Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, made this clear on Sunday evening through his X (formerly Twitter) account while responding to frequently asked questions about the Presidential Fiscal Policy and Tax Reforms Committee.

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Oyedele emphasized that the committee, under President Bola Ahmed Tinubu’s administration, is committed to reducing the financial burden on individuals and businesses. He stated, “We have no intentions of implementing fresh taxation measures or increasing current tax rates. Our primary goal is to streamline the existing array of taxes and levies while consolidating revenue collection to alleviate the burden on individuals and businesses.”

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He further clarified that the objective is to avoid taxing investments, capital, production, or those living in poverty. The committee plans to comprehensively review and revise major tax laws to minimize the need for frequent changes through annual finance acts, as mentioned by Oyedele on the microblogging platform.

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Additionally, Oyedele highlighted that the committee has devised strategies to boost revenue by leveraging technology instead of introducing new taxes, with the aim of achieving the 18 percent tax-to-GDP ratio mandated by the committee. He stated, “The average tax-to-GDP ratio for Africa, excluding Nigeria, stands at approximately 18%. This serves as the basis for our 18% target and the estimated N20 trillion tax gap. There is substantial potential to increase revenue by utilizing technology and tax intelligence to close this gap. We also plan to rationalize incentives, reduce collection costs, and optimize revenue from government assets and natural resources. This approach will enable us to generate more revenue without resorting to new taxes.”

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Oyedele further emphasized that the committee’s mandate extends beyond the federal government, as it will collaborate with all levels of government to ensure effective cooperation in designing and implementing necessary fiscal policy changes and localizing reforms at the subnational level as needed.

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“Adeyanju Tells Nigerian Govt: Terrorists Deserve Death, Not Forgiveness”.

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Activist lawyer Deji Adeyanju has insisted that terrorists and their collaborators deserve the death penalty, not forgiveness.....KINDLY READ THE FULL STORY HERE▶

Adeyanju made the statement while urging the Federal Government to adopt a stricter approach in tackling terrorism. On his X page, he argued that anyone involved in terrorism—or those supporting them—should face capital punishment rather than leniency.

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He criticized what he described as the government’s tendency to show mercy toward terrorists, warning that such leniency could undermine national efforts to combat insecurity.

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Adeyanju called on authorities to end policies that appear to pardon or reintegrate terrorists, insisting that a firm and uncompromising stance is essential to deter violent extremism and protect citizens.

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“Terrorists and their sympathizers deserve death, not forgiveness. The Nigerian government must stop forgiving and romancing terrorism,” he wrote.

The comments come as Minister of Defence Christopher Musa assured Nigerians that terrorists and bandits are sustaining heavy losses in ongoing military operations. Speaking after a security briefing with President Bola Ahmed Tinubu at the Presidential Villa, Abuja, Musa said the Armed Forces had updated the President on the latest security situation and clarified what he described as “misleading interpretations” circulating in the media.

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“Lagos Residents Hit the Streets Over Constant Power Outages”.

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Residents of Lagos took to the streets on Friday to voice their frustration over persistent electricity outages, describing the state’s power supply as “epileptic” and unsustainable for both daily life and business operations.....KINDLY READ THE FULL STORY HERE▶

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A video shared widely on social media showed dozens of protesters, mostly youths, marching through the Fadeyi area, holding placards and chanting for consistent electricity.

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The demonstrators criticized what they called the collapse of the nation’s power sector, insisting that erratic electricity is disrupting livelihoods and making life increasingly difficult across Lagos.

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Placards carried by the protesters included messages such as:

  • “No More Estimated Billing”

  • “No More Epileptic Power Supply”

  • “No Light, No Life, No Nation”

  • “You’re Destroying Businesses; Give Us Regular Light”

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One protester shouted, “We are not asking for too much. Give us light!” as the march continued.

Local business owners highlighted the heavy toll of inconsistent electricity on their operations, noting that reliance on fuel-powered generators has driven up costs. A shop owner said, “We cannot continue like this. Every day we spend money on fuel because there is no electricity. Many small businesses are closing because they cannot cope.”

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The protest reflects growing public dissatisfaction with power supply in Lagos, with residents calling on authorities and electricity providers to ensure a stable and reliable service.

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“Ikeja Court Seizes Responsible Leaders Hotel Over Alleged Forex Fraud”.

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The Federal High Court in Lagos has ordered the temporary seizure of a multi-billion naira hotel linked to Edward Olutoke, Managing Director of the Ikeja Chamber of Commerce, Industry, and Agriculture, following allegations that the property was purchased with funds obtained through a fraudulent forex and investment scheme.....KINDLY READ THE FULL STORY HERE▶

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According to a statement by the Economic and Financial Crimes Commission (EFCC), Justice A.O. Owoeye, sitting at the Federal High Court in Ikoyi, Lagos, on Wednesday, March 12, 2026, ruled that the Responsible Leaders Hotel, located at 1 Ostra Close, Jobi Fele Way, Alausa, Ikeja, be temporarily handed over to the government. The property is valued at approximately ₦1.3 billion.

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The order followed an urgent application by the EFCC, presented by its lawyer, C.C. Okezie, who provided evidence suggesting the hotel was acquired through illicit means. The application was supported by an affidavit sworn by Obed Tanko, an EFCC investigator.

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According to the EFCC, Olutoke allegedly convinced numerous Nigerians to invest billions of naira in a capital-guaranteed forex trading and investment scheme, promising secure funds and high returns.

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“The suspect allegedly obtained billions of naira from unsuspecting investors under the guise of operating a capital-guaranteed forex trading and investment scheme,” the commission said.

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Investigations revealed that neither Olutoke nor his company had the required legal permits to operate an investment business. Instead of trading the funds as promised, the EFCC claims the money was used to acquire expensive properties, including the Ikeja hotel.

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During the hearing, Okezie argued that the hotel should be seized as it was reasonably suspected to have been purchased with proceeds from unlawful activities. After reviewing the evidence, Justice Owoeye agreed, ruling that the asset should be temporarily taken over while the case proceeds.

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The judge also ordered the EFCC to publish the decision in a national newspaper, allowing anyone with a legal claim to the hotel to come forward and explain why the property should not ultimately be forfeited to the Federal Government of Nigeria.

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