…Urges NASS to expedite legislative process

President Bola Tinubu has applauded Nigeria Governors’ Forum (NGF) following their unanimous endorsement of the four Tax Reform Bills currently under consideration by the National Assembly.

The governors had endorsed a revised Value Added Tax (VAT) sharing formula aimed at promoting equitable resource distribution among states at the Subnational Consultations and Engagement with the Presidential Tax Reform Committee on Thursday.

The new formula allocates 50% based on equality, 30% based on derivation, and 20% based on population, according to the communique issued by Chairman, Nigeria Governors’ Forum, and Governor of Kwara State, Abdul Rahman Abdul Razaq.

The Forum had also agreed to maintain current VAT rates and exempt essential goods from VAT, ensuring economic stability while safeguarding citizens’ welfare. The resolutions had also support ongoing legislative efforts to pass comprehensive tax reform bills in the National Assembly.

In a statement issued by Special Adviser on Information and Strategy, Bayo Onanuga,

President Tinubu lauded the governors for their bold leadership and commitment to fostering unity among leaders nationwide, transcending regional, ethnic, and political barriers to advance Nigeria’s development.

“Thursday’s productive consultation between the Nigeria Governors’ Forum and the Presidential Committee on Tax and Fiscal Policy is a commendable example of cooperation between the Federal and State governments”, he said.

The President extended special commendations to the Forum’s Chairman and Kwara State Governor AbdulRazaq, for successfully galvanising support among his peers for these transformative tax bills to rejuvenate the national economy and enhance Nigeria’s investment climate.

He also commended the Progressive Governors Forum, the Northern Governors Forum, and all other groups that made the bipartisan resolution of the controversy stirred by the tax bills possible.

President Tinubu underscored that the primary aim of the Tax Reform Bills, which is pro-poor, “is to promote national interests, improve the competitiveness of Nigeria’s economy, and attract both local and foreign investments.”

He added that updating the country’s outdated tax laws is essential to this endeavour.

The President noted that the dialogue between the NGF and the Presidential Committee on Tax and Fiscal Policy Reform highlights the power of constructive conversation in resolving differences.

President Tinubu said he regards the governors as vital contributors to nation-building and affirms his commitment to partnering with them to promote economic growth, national harmony, peace, and stability.

He also encouraged other stakeholders with ideas and suggestions for refining the Tax Bills to engage with the ongoing legislative process at the National Assembly.

President Tinubu concluded by urging the National Assembly to expedite the legislative process for “these crucial bills so that the country can swiftly reap the benefits of the reforms.”

The Nigerian National Petroleum Company Limited (NNPC Ltd) has warned the public regarding a fraudulent recruitment announcement for the Port Harcourt Refining Company (PHRC) that has been circulating on various online platforms.

NNPC said that there is no separate recruitment process for the Port Harcourt Refinery outside of the ongoing recruitment that commenced last year, which encompasses all its business operations.

It noted that successful candidates from the Computer-Based Aptitude Test are currently advancing to the interview stage this week

NNPC said that the recruitment links being circulated are the work of fraudsters attempting to exploit the recent revitalization of the Port Harcourt Refinery.

“We, therefore, call on members of the public to be wary of the ploy and not fall for it”, the Company stated.

The Court of Appeal on Friday in Abuja, reaffirms Barrister Julius Abure as the National Chairman of the Labour Party.

The Court of Appeal presided by Justice Hamma Akawu Barka relied on its judgement earlier delivered on the 13th of November, 2024 in Appeal Number CA/Abj/CV/1172/2024 between Labour Party (Appealant) against Chief Olusola Nehemiah Ebiseni and INEC (Respondents) to make the declaration.

The Court held that the two appeals heard on Friday (1) Senator Esther Nenadi Usman & others V Labour Party & others (CA/ABJ/CA/1217//2024 (2) INEC V Labour Party (CA/Abj/CV/1232/2024) could not determine the leadership of the Labour Party having emanated from an incompetent suit as the trial Court lacked jurisdiction to have determined the leadership of the Labour Party and therefore a mere academic exercise.

The Court therefore directed parties to the appeals and the general public to respect the judgement of the Court of Appeal delivered on the 13th of November, 2024 which affirmed Barrister Julius Abure as the National Chairman of the Labour Party.