Day: October 26, 2023

FX transactions outside official window to attract excise taxes soon – FG

Aminu Imam

Foreign exchange transactions conducted outside Nigeria’s official FX window will soon incur excise tax penalties. This is one of the 20 recommendations put forward by the Presidential Fiscal Policy and Tax Reform Committee, established by President Bola Ahmed Tinubu to evaluate and provide guidance on reforms aimed at shaping Nigeria’s fiscal policy and tax system. Announcing this development on X, formerly known as Twitter, Taiwo Oyedele, the committee’s Chairman, indicated that the committee’s “quick win” recommendations, designed to address pressing economic issues including exchange rate management, the impact of fuel…

Read More

“Nigeria ready for agri-business” – VP Shettima tells foreign investors

Aminu Imam

Vice-President Kashim Shettima has wooed foreign investors to invest in the country’s agricultural sector, assuring them that Nigeria is ready for business. Shettima made the call on Tuesday in Iowa, United States, while delivering his address titled: “Nigeria’s Agri-business: Roadmap for a Prosperous Future”, during the 2023 Norman Borlaug International Dialogue. The Vice-President told the gathering that under President Bola Tinubu’s watch, Nigeria has since demonstrated that the agri-food sector is a top priority. He said the country has 70 million hectres of underutilised arable land, which, according to him,…

Read More

Bill to extend retirement age of NASS staff to 65 years resurfaces

Aminu Imam

The controversial Bill to extend the retirement age of National Assembly staff to 65 years has resurfaced in the House of Representatives. Recall that the Bill has faced previous Assemblies since the seventh 7th Assembly without success, while the 9th reintroduced the Bill on June 28, 2022. The Bill, titled: “A Bill for an Act to Make Provisions for the Retirement Age for Staff of National Assembly Service and for Related Matters”, is sponsored by the Deputy Minority Leader, Rep. Aliyu Madaki. It was considered and passed for the second…

Read More