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- SMEs, farmers exempted from payment
The Federal Government has kicked-off the implementation of the 2024 Withholding Tax Regulations.
The new regulations, approved in July last year and put into the gazette in October, took effect yesterday.
The revised regulations, titled: “Deduction of Tax at Source (Withholding) Regulations, 2024,” is intended to modernise the tax system, streamline compliance and address longstanding inefficiencies.
Announcing the commencement of the reforms on New Year’s day, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, outlined key features of the updated regime.
He said Small and Medium Enterprises (SMEs) are now exempted from withholding tax compliance adding that the change is expected to ease administrative and financial challenges for these businesses, fostering growth and innovation in the sector.
Also, businesses with low profit margins will benefit from reduced withholding tax rates, which will enhance their cash flow and reduce operational costs.
In addition, manufacturers and producers, particularly farmers, are now exempted from withholding tax. This move is designed to strengthen critical sectors, ensuring their sustainability and growth.
The tax provisions are intended to curb tax evasion, minimise avoidance opportunities, and promote transparency in tax remittances.
The reforms streamline the process of obtaining credit for taxes deducted at source, making it easier for businesses to leverage such deductions. The regulations reflect emerging economic issues and align with international standards, ensuring Nigeria’s tax system remains contemporary and globally competitive and by providing clear guidelines on the timing of deductions and definitions of key terms, the new policy has eliminated ambiguities that previously made compliance difficult.
Oyedele, who spoke on the reform last year, noted that “the previous withholding tax regime “had evolved into a complicated system over time, creating numerous challenges for businesses”.
The Withholding Tax (WHT) Regulations, 2024, is poised to significantly ease the tax burden on small businesses while introducing stricter compliance requirements to curb tax evasion.
As part of the reform, small businesses will no longer be required to deduct withholding tax on payments made to their suppliers.
However, to address potential tax evasion, tax deductions are mandated in the following situations: If the supplier lacks a Tax Identification Number (TIN); If the total payments to a supplier exceed N2 million in one month, except for transactions specifically exempted under the new regulations.
In cases where a supplier does not have a TIN, an alternative identifier must be provided: the National Identification Number (NIN) for individuals or the RC number for companies.
Payments made under these circumstances are subject to the normal withholding tax rate, though this does not apply to investment income such as dividends, interest, or rent.
A small business is defined as any company or enterprise with an annual turnover not exceeding N25 million.
However, Oyedele explained that there is a draft proposal to raise this threshold to N50 million, pending legislative approval.
Under the new regulations, withholding tax is not applicable to payments to small companies with an annual turnover of N25 million or less, transactions involving manufacturing, agriculture, and other production activities, irrespective of turnover, sales in cash or instant electronic payments and other specific transactions listed as “exempt” in the WHT Regulations.
Businesses, including SMEs, are only required to file returns for months in which taxes were deducted at source in the preceding month. The returns must contain details as prescribed in the schedule of the regulations.
The regulations introduce penalties to ensure compliance. Failure to deduct tax where required will attract administrative penalties.
Also, non-remittance of deducted taxes by the due dates—21st of the following month for remittances to the Federal Inland Revenue Service (FIRS) or 30th for state Internal Revenue Services—will result in penalties and interest on the amount not remitted.
Oyedele said the new rules prohibit treating tax deductions at source as an additional cost for recipients, reinforcing equitable tax practices.
Key issues include ambiguities regarding compliance requirements, eligible transactions, applicable rates, and remittance timing, and excessive compliance burdens and strained working capital for low-margin businesses.
Also, the treatment of withholding tax as a separate levy, contributing to multiple taxation, the difficulty in obtaining refunds for excess withholding tax, leading to financial strain and the absence of an exemption threshold made compliance uneconomical for taxpayers and enforcement costly for authorities.
Another challenge experienced with the old withholding tax regime was the failure to address emerging economic realities, resulting in inequity and inefficiency in the tax system.
Oyedele said “the new regulations tackle these issues head-on, streamlining processes and reducing compliance burdens while promoting fairness and equity”.
What is Withholding Tax?
Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income.
The tax is thus withheld or deducted from the income due to the recipient.
The term “withholding tax” refers to the money that an employer deducts from an employee’s gross wages and pays directly to the government. The amount withheld is a credit against the income taxes the employee must pay during the year.
[TheNation]
Tax Bills: ‘90% Of Workers Under NLC Will Be Relieved Of Tax Burdens But Their Leaders Are Rejecting It’ – Presidency
AFOLABI
The presidency has hinted that the leadership of the Nigerian Labour Congress (NLC) do not fully understand the content of the tax reform bills proposed by President Bola Tinubu.
The presidency submitted that the proposals would relieve 90% of workers under the NLC of tax burdens, but the leadership of the labour union are opposing the bills.
It criticized the call by the NLC for the withdrawal of the bill.
This position was made known on Wednesday by the Special Assistant to President Bola Tinubu on Social Media, Dada Olusegun, via a post on his X account.
The presidential media aide stated this in response to the call by the NLC for the immediate withdrawal of the Tax Reform Bills submitted by President Tinubu to the National Assembly, citing the need for broader stakeholder engagement before passage.
The congress, in its New Year message to Nigerians on Tuesday, also urged governments at all levels to prioritize citizens’ welfare in the coming year.
The NLC President, Joe Ajaero, reiterated the importance of inclusive dialogue in shaping tax reforms.
Reacting to the position of the NLC, Olusegun wrote: “Funny how more than 90% of workers under the NLC will be relieved of tax burdens in one way or the other following the implementation of the tax reform bills, but their leaders are here asking for the withdrawal.”
The Federal Government may cut its crude oil supply to the Dangote Petroleum Refinery, reducing it from the current allocation of 300,000 barrels per day, except if there is a surge in Nigeria’s oil output, The PUNCH gathered on Wednesday.
This reduction is expected to take place as part of adjustments under the government’s naira-for-crude initiative following the coming onstream of the Warri and Port Harcourt refineries.
Both refineries currently operate at a combined capacity of about 135,000 barrels per day. The plants, managed by the Nigerian National Petroleum Company Limited, commenced operations recently after years of neglect by successive governments, preferring fuel imports.
It was gathered that the planned reduction of crude to the Dangote refinery was also predicated on the necessity to ensure a sufficient supply of crude to all refineries.
This is aimed at boosting competition in the downstream sector, with the government facilitating this through the naira-for-crude initiative. Before the initiative, the government used to allocate about 445,000 barrels per day of crude to domestic refineries operated by NNPCL.
Impeccable sources knowledgeable about the development disclosed the planned slash in crude supply to the Dangote refinery during a chat with our correspondent on Wednesday.
One of the sources who did not want to be mentioned because he was not permitted to speak with the press, confirmed to The PUNCH that, “It is clear that crude allocation to Dangote refinery and other local refineries will be reduced because all our refineries are coming back. Old Port Harcourt is working. New Port Harcourt is almost done. Warri just joined last week. “
Last year, the Federal Executive Council adopted a proposal by President Bola Tinubu to sell crude to the Dangote refinery and other upcoming refineries in the local currency.
FEC approved that the 450,000 barrels meant for domestic consumption be offered in naira to Nigerian refineries, using the Dangote refinery as a pilot.
Similarly, other refineries with lower capacity were scheduled to receive allocations.
Findings showed that the $20bn Lekki-based plant was allocated about 300,000 barrels per day out of the 450,000bpd approveby the government.
The agreement was designed to last six months in the first instance, pending further review by the Technical Sub-Committee on Domestic Sales of Crude Oil in Local Currency.
However, this agreement will undergo slight adjustments following the commencement of refining operations at the 210,000PortHarcourt refinery and the 125,000 Warri refinery.
The source stressed that the only solution to the impending crude supply cut was for oil production to improve.
The official added, “Warri is now onstream, too, and Kaduna is coming. So the current share of those 450,000 barrels will now be shared between all of them. Remember also that the BUA refinery is coming.
“So, it is very likely that the 300,000 barrels the Dangote refinery is getting currently will be reduced. The formula for how it would be shared is still sketchy, but it is almost certain that it would be reduced. NNPCL won’t deprive itself of crude oil.
“At least, if Port Harcourt will get 50,000 barrels. Other refineries’ share will be reduced to 250,000. New Port Harcourt will come. Warri, too, is still there. So the only solution to this thing is to increase production, which the government is working hard on.”
The government had redirected crude allocation of 445,000 barrels formerly disbursed to the Warri, Kaduna, and Port Harcourt refineries following their shutdown to the Dangote refinery.
The official also stated that the government has stopped selling its crude on credit to local refineries for improved revenue collection.
“Another issue now is that the government will no longer sell its crude on a credit basis. You would have to pay before you can pick up crude products. The refiners are not happy about it, but revenue to the government is also important.”
The Dangote refinery may fall back on crude oil import, which is subject to international pricing.
Commenting on the latest development, the Crude Oil Refinery Owners Association of Nigeria stated that the initiative was an intervention designed to address the foreign exchange market volatility and drive down the retail price of petrol, which has been achieved.
The CORAN Publicity Secretary, Eche Idoko, in an interview, however, argued that the coming onstream of the Warri and Port Harcourt refineries is not expected to cut down allocation to local refineries.
He said, “The naira for the crude agreement was purely an intervention at the time to boost local production and then provide some cushion from the volatility of the foreign exchange market. It wasn’t so much about the crude but the FX.
“While I don’t know the mind of the government and regulators if one would infer from the solution to address the volatility, the coming onstream of the Warri and Port Harcourt refinery is to make sure the price of petrol remains affordable for Nigerians. You would agree with me that against all norms, the petrol price has dropped in the last month. We still expect that the price will drop further.
“If we go by this analogy, I don’t think it would change the announcement by the government concerning the naira for crude. However, the agreement signed for this deal stated that it was for refineries producing PMS, which only Dangote and Port Harcourt are currently doing. The one in Warri is not producing because it’s undergoing rehabilitation.”
Idoko pointed out that “this also indicates that there is a serious need for the upstream segment to ramp up production and produce more crude.”
Meanwhile, the national oil company may encounter new challenges in meeting local crude demands, with fresh indications that the oil firm is seeking an additional $2bn to stabilise its finances and invest in new oil infrastructure to boost crude oil production.
A report by Africa Intelligence recently stated the NNPC should announce in the next few days that it has finalised the new syndicated crude oil-backed loan.
Christened Project Leopard, the operation, it said, will enable the company to raise $2bn in total in exchange for crude oil.
This will push the volume of loans for crude to $8bn within four years. The country is still repaying these loans.
A few months ago, Oando loaned the NNPC $500m as part of another syndicated loan operation called Project Gazelle. Swiss group, Gunvor International and Nigeria’s Sahara Energy Resources, also took part in the $3.175bn operation, which was arranged by Afreximbank.
These deals have continued despite complaints from domestic refineries that the national oil firm is not meeting its quota.
The country’s average daily production stood at 1.8m barrels per day as of November 2024.
Last year, the Vice President of the Dangote Group, Edwin Devakumar, accused NNPCL of failing to meet its crude oil supply obligations under the naira-for-crude agreement.
Devakumar explained that the national oil company had committed to supplying the refinery with a minimum of 385,000 bpd under the crude-for-naira deal.
“We need 650,000 barrels per day, and NNPC Ltd agreed to supply a minimum of 385,000 bpd, but they are not even delivering that,” Devakumar stated.
The CORAN official also lamented the same issue, stating, “We trust that the government will listen to us for the naira for crude and address the issue of the non-availability of crude to local refineries. CORAN, as a body representing local refineries, is willing to work with the government in any way to increase the quota. Private refineries should also be allowed to own marginal fields.” 123m barrels crude
Meanwhile, the Nigerian Upstream Petroleum Regulatory Commission has revealed that Port Harcourt Refinery, Dangote Refinery, Warri Refinery, and other functional refineries will receive 123,480,500 barrels of crude oil between January and June 2025, which is the total crude requirement of refiners during the period.The regulator estimated daily crude oil requirements for local refiners at 770,500 barrels per day and a monthly requirement of 23,812,000 barrels per month.
The NUPRC said this in the Domestic Crude Oil Requirement and Crude Oil Production Forecast for the First Half of 2025 obtained by our correspondent on Wednesday.
To meet the requirement, the NUPRC said it targets crude oil output to hit over two million barrels per day.
The production target is hinged on Project 1 Million Barrels, which was launched in October 2024.
The NUPRC is empowered by the PIA to ensure domestic crude supply to local refineries based on the ‘willing buyer, willing seller’ model.
The regulator said the move is under Section 109 of the Petroleum Industry Act, 2021 and it is aimed at effective capacity utilisation of the nation’s domestic refineries by ensuring a consistent supply of crude oil.
The NUPRC said, “The forecasted daily crude requirement for Refineries which is 770,500 Bpd), is about 37 per cent of the forecasted first half 2025 average daily production of 2,066,940 Bpd.”
The forecast is for nine active refineries, according to the NUPRC.
A breakdown showed that the Dangote Refinery and Petrochemicals require 99,550,000 barrels from January to June 2025. The refinery’s daily requirement is 550,000mbpd while the monthly requirement is 17.05 million barrels. The facility, however, has an optimal capacity of 650,000bpd.
The Warri Refinery has the second highest requirement, estimated at 13,5875,000 barrels in the first half, while the daily and monthly requirements are 75,000bpd and 2.325 million barrels, respectively.
The Kaduna Refinery and Petrochemical Company Ltd has an estimated requirement of 3,960,000 barrels. The refinery’s daily requirement is 66,000bpd and 1,980,000 barrels.
Port Harcourt Refinery Company Ltd (Old) has a daily requirement of 60,000 barrels per day, a monthly requirement of 1,860,000 barrels and a half-year requirement of 2,868,000 barrels.
Port Harcourt-based Aradel Refinery is estimated to consume 1,267,000 barrels in the first half of 2025 while the daily need of the refinery is 11,000bpd and 215,000 barrels monthly.
OPAC Refineries in Delta State has a crude requirement of 5,000bpd, 150,000 barrels per month and 900,000 barrels in the first half.
Imo State-based Waltersmith Refinery and Petrochemical Company Ltd have a half-year requirement of 814,500 barrels, a monthly and daily requirement of 139,000 barrels, and 4,500 barrels per day.
Edo State-based Dupot Midstream Company Ltd has a half-year, monthly and daily requirement of 360,000 barrels, 62,000 barrels and 2000bpd, respectively.
Edo Refinery and Petrochemical Company Ltd has a half-year requirement of 186,000 barrels, a monthly requirement of 31,000 barrels and a daily requirement of 1,000.
NUPRC said, “It is leveraging the capacity of upstream operators to meet the target daily production of 2,500,000 bpd in the short term.
“This strategic initiative aligns with Nigeria’s commitment to bolstering its domestic refining capacity and ensuring the sustainability of its oil industry.
“The first half of 2025 is expected to witness increased synergy between local refineries and producing companies, setting the stage for a more robust and self-reliant petroleum landscape in Nigeria.”
[Punch]
…Prays for peace, progress of state
Governor Siminalayi Fubara of Rivers State has expressed solid faith in the omnipotence of God to crush self-styled enemies of the state and its people.
Fubara spoke at the crossover into 2the 025 church service held at St. Paul’s Anglican Church, Opobo Town in Opobo/Nkoro Local Government Area, yesterday.
He raised a gallantry song, with the brethren picking up the lines, and singing along: “At the mention of your name (God), every knee shall bow. At the mention of your name, every tongue confesses. That you are Lord, you are Lord, you are King, you are King of kings.”
Fubara said the wordings of the song were not just consolatory but a charge to embolden the people to firm up their trust in God, who alone, can navigate the path to greater triumph in the New Year.
He said: “The Red Biro is still filled. It is still here with me. Every enemy plan will continue to crash,” and wished everyone a happy new year.
The Bishop of the Anglican Diocese of Niger Delta, Dr Emmanuel Oko-Jaja, who conducted the service, recalled the many challenges, including conspiracy, blackmail, attacks, economic hardship and ill-health and near hopeless situations experienced in 2024 but quickly added that those troubles never overwhelmed the brethren.
Oko-Jaja said God has given a new song of triumph to those who are grateful to Him for the marvellous works perfected in their lives, admonishing them that in the New Year, God will faithfully uphold, deliver and ensure that they continue to live victoriously.
He prayed for peace, unity, progress and accelerated development of the State in line with the key targets of the state government’s 2025 Budget of Inclusive Growth and Development.
Highlights of the service included praise and worship, choir ministration, which ushered in 2025 at midnight Tuesday with shouts of ‘Happy New Year’ renting the air.
Those who joined the governor in the service include, Speaker, of Rivers State House of Assembly, Mr. Victor Oko-Jumbo; Chief of Staff, of Government House, Dr Edison Ehie, some members of the National Assembly, Awaji-Inombek Abiante, Boma Goodhead, Anderson Igbiks, and Amanyanabo of Opobo Kingdom, King Dandeson Jaja.
Others were Senator Adawari Pepple, former Inspector-General of Police, Mike Okiro, Theodore Georgewill, Dr. Tamunosis Gogo-Jaja, members of the State Executive Council, some Local Government Council chairmen; elders; political leaders; and key stakeholders in the state.
[Vanguard]
Former Minister of Humanitarian Affairs and Disaster Management, Betta Edu, has expressed optimism that 2025 will serve as a pivotal year for the actualization of President Bola Tinubu’s Renewed Hope Agenda.
Edu shared this in her New Year message, which was released on Wednesday, marking the beginning of the new year.
Describing 2025 as a year of restoration, Edu said it would usher in a season of “endless possibilities” for Nigerians, where hard work translates into shared prosperity.
Edu called on Nigerians to embrace 2025 as a fresh start, filled with promise and the potential to fulfill their aspirations under the Tinubu administration’s vision.
She emphasized that the New Year would solidify the administration’s efforts to deliver on its promises, urging Nigerians to remain optimistic about the future.
“2025 stands before us like a chapter in a book waiting to be written. It is incumbent upon us to pen optimism and hope into it, believing that the New Year offers us a refreshing new dawn to turn our dreams and aspirations into reality.
“I have no doubt that 2025 will bring full restoration from the hardships and trials of 2024. It will be a year for the optimisation of President Bola Tinubu’s Renewed Hope Agenda,” she said.
Continuing, Edu noted, “2025 holds immense promise for our dear country. It is a year when Nigerians will take charge of their great future as current economic challenges give way to a horizon of hope, leading to the blossoming of prosperity.”
She urged Nigerians to remain steadfast in their love for the country and believe in the ability of the current administration to pull Nigeria out of economic difficulties.
“Mr President means well; good intentions need time to yield results. I believe in the Nigerian project. I have always given my all to Nigeria and Nigerians, and nothing will ever change that.
“I fervently urge Nigerians to approach the future with confidence and an overwhelming sense of assurance that we are inching closer to the end of our trying times as a nation,” Edu added.
A chief magistrate court in Kaduna has ordered the remand of Shehu Mahdi, a public affairs and political commentator, in a correctional facility.
Operatives of the Department of State Services (DSS) arrested Madhi in Kaduna over the weekend after he posted inciting content, including a video online claiming that President Bola Tinubu granted France the approval to set up a military base in northern Nigeria.
The now-deleted post was uploaded on December 14 and accompanied by a video of a Nigerian Army officer speaking Hausa while the background showed a foreign soldier.
Nuhu Ribadu, the national security adviser (NSA), and Mohammed Idris, minister of information and national orientation, have since debunked the claims as baseless.
Findings by CableCheck revealed that the claim that the French military has been deployed in Maiduguri, Borno state capital, to establish a military base in Nigeria is false.
At the court session on Tuesday, the DSS arraigned Mahdi before Abubakar Lamido, the presiding magistrate, on a two-count charge of conspiracy, aiding, and abetting terrorism.
The offences are said to be contrary to section 26(2)(3) of the Terrorism (Prevention & Prohibition) Act, 2022, and inciting public disturbances is contrary to section 78 of the Penal Code Law of Kaduna state, 2017.
“In his ruling, Magistrate Lamido held that Mahdi remains in a correctional facility in Kaduna until January 14, 2025, for further hearing on the matter,” a statement by DSS said.
[TheCable]
Governor Seyi Makinde of Oyo State has disclosed that inflation rates reduced spending power and dragged many Nigerians into poverty in 2024.
Makinde made this declaration in his New Year message aired on the Broadcasting Corporation of Oyo State (BCOS) on Wednesday.
The governor, while addressing residents of the state, disclosed that Nigeria struggled with economic challenges throughout the just-concluded year.
He maintained that inflation rates reduced the people’s spending power and dragged more people into poverty.
Makinde, while speaking further, said that his government will do more for the people of the state in 2025.
He added that his administration would embark on decisive actions that would increase residents’ spending power and ease the economic strains they are currently facing.
The governor also stated that his administration would enforce the rule of law across different sectors.
He warned that more stringent measures would be taken against traffic offences in the state.
Makinde, while speaking further, maintained that the year 2024 tested the resilience of the people of the state.
He said: “What a year 2024 was! Our resilience as a people has been tested almost to the limit. We have faced economic challenges and social tragedies that have been the direct or indirect result of these challenges.
“We were shocked by the January 16, 2024, Bodija incident. We reacted by signing Executive Order 001, 2024, on the safe handling and storage of harmful substances in Oyo State. We also took steps to give support to those who were primarily affected by this incident. We will give them even more support in 2025.
“In December 2024, disaster again struck in our dear state as we lost 35 children to a stampede at Islamic High School, Basorun. We are still mourning this great loss.
“Throughout the year, we struggled with economic challenges as a nation. Inflation rates reduced our spending power and dragged more people into poverty than we were able to help escape poverty. Our hearts are heavy. Still, we are thankful. These tragedies have forced us as a government to go back to the drawing board and take a second look at our strategies, policies, and programmes.
“For example, following the Bodija incident, we took actions that further secured the lives of our people. We are more determined to put further measures in place to ensure that incidents like these never occur again.”
[DailyPost]
President Bola Tinubu on Wednesday said that the rumours of disagreement between him and the governors over local government autonomy were false.
The president also emphasised the critical role of state governors in driving Nigeria’s development and prosperity, saying their leadership at the subnational level is central to achieving food security, economic prosperity, and rapid national growth.
Speaking during a New Year homage by Vice President Kashim Shettima and members of the Nigeria Governors Forum (NGF) at his Ikoyi residence in Lagos, President Tinubu expressed his gratitude for their support and collaboration while highlighting key areas requiring joint effort for the nation’s progress.
A statement by the presidential spokesman, Bayo Onanuga, quoted Tinubu as saying, “You are the most important link to Nigeria’s prosperity and development. The Federal Government accounts for about 30 to 35 per cent of the allocated revenue; the rest comes to you.
“The agricultural value chain depends on you. You own the land, and the job is in your hands.”
President Tinubu called for stronger collaboration between the federal and state governments to address pressing challenges, including local government autonomy, agricultural productivity, and currency stability.
Expressing his commitment to local government development and autonomy, the President stressed its importance for grassroots development and dispelled rumours of disagreement with the governors.
“We will not fight within us. I will drive the change. You control your local governments. You can restore hope by effectively fulfilling what the people expect at the grassroots level.
“There were gossips that we had disagreements on local government autonomy. No. Just drive development at the local government. Nobody wants to take them away from you, but we need collaboration. Let’s do it together and ensure Nigeria is better off for it.”
President Tinubu urged governors to prioritise agricultural growth as a pathway to economic stability.
“We have to work harder, grow more, and ensure the situation of our currency improves. Nigeria will see prosperity, but it requires consistent effort from all of us,” he said.
He also urged the governors to take pride in their efforts and acknowledged their progress across the states.
“There is no state we cannot visit and be proud of its development. We have better allocations now. Let me take the abuse; you take the privileges. Together, we will build a nation we are all proud of,” he said.
Reflecting on his leadership journey in the last 19 months, the President expressed confidence in Nigeria’s capacity to thrive given the resilience and leadership demonstrated by the administration.
“I am glad I asked for this job, and Nigerians gave me the mandate. We’ll be on this voyage together. I thank all of you for where we are today and where we are heading,” he said.
The President announced that he will be visiting Enugu State on January 4 as part of his planned visits to some states of the federation.
President Tinubu welcomed his declaration by ThisDAY newspaper as Man Of The Year.
He commended the newspaper for recognising “what they considered a failure initially, but is now a success.”
Speaking at the visit, the Kwara State governor and chairman of the Nigeria Governors Forum, NGF, Abdulrahman Abdulrazak, described ThisDay’s decision to name President Tinubu Man of the Year as a significant endorsement of the administration’s policies.
He noted that the acknowledgement from a media outlet known for critical media coverage during the campaign reflects the tangible progress made under President Tinubu’s leadership.
“The policies are working. In agriculture, I was in Jigawa. The complaint in Jigawa was that there was a bumper harvest, but because of the strength of our currency, traders exported the harvest.
“So, most of us are encouraging ourselves to buy bumper stocks into our silos and store them for the rainy day. So, in terms of agriculture, the policy is working. We’ll continue to deepen that and ensure we are 100% sustained in food security and feed the whole of West Africa,” he said.
The governor urged the president to visit various states to see the ongoing transformations and progress firsthand.
He assured the president of the steadfast support of the governors, particularly in contributing to local security architecture to further enhance the nation’s security.
“I must confess that I have not done two years in this administration, but I’ve done more projects in two years than in the four years of my first term,” Governor Abdulrazaq said.
“We are getting more funding due to the restructuring of the economy. Yes, there is inflation, but we are overriding it,” the governor said.
[Vanguard]
Fredrick Nwabufo, senior special assistant to the president on public engagement, says President Bola Tinubu fulfilled key campaign promises in 2024,
Speaking in an interview with NTA on Wednesday, Nwabufo highlighted the administration’s achievements, particularly in social and economic reforms.
He pointed to the introduction of policies aimed at supporting Nigerians with limited access to cash and higher education.
“I would say 2024 was a year of manifest hope. I call it manifest hope because some of the promises Mr President made during the campaign are beginning to crystallize. Some of them have actually crystallized this year,” Nwabufo said.
“The President promised to introduce a mechanism to help Nigerians who don’t have cash readily available to finance and purchase. Today, he has fulfilled that promise.
“He also promised to help Nigerians who seek higher education but don’t have the funding to achieve that dream. To help them do that, today, we have NELFUND.”
While acknowledging challenges, Nwabufo attributed Tinubu’s administration’s success to its purposeful and focused leadership, citing the rehabilitation of the Port Harcourt refinery as an example.
Nwabufo credited the drop in prices of petroleum products to increased competition in the energy sector, describing it as a direct result of Tinubu’s “bold” leadership.
“I was at the old Port Harcourt refinery, I saw things for myself, and I did a piece there that the refinery is up and running,” he said.
“Today we have two refineries running, a public owned refinery is running and, of course, Dangote refinery.
“Most young Nigerians were not born when this refinery stopped working. So, it’s a historic experience for this refinery to be up and running now.
“So, the impact this will have already, you can see that the price of petroleum products has been plummeting, that’s one clear impact. And, of course, there will be more competition.”
Looking ahead to 2025, Nwabufo expressed optimism, describing it as a “propitious year of consolidation” that would build on the foundations laid in 2024.
A 55-year-old Delta State highlife musician, Dr Arube Otor, popularly known as Isoko Fela One is set to marry three women on the same day.
The event, scheduled for Sunday, January 19, 2025, will be held at Anglican Church Field at London Base, Uzere Kingdom, Isoko South Local Government Area of the state.
In the viral marriage flier, Arube was pictured in the same dress as his three to-be wives, Oghenekome, Ewoma, and Oghenekaro, all from Delta State.
Confirming the event to our correspondent via telephone on Wednesday, Arube’s foster son and one of the RSVPs, Emperor Efih (Oscar), said the event would be held at the said place and time, adding that the to-be wives were initially four, but one pulled out along the line for personal reasons.
Efih attributed Arube’s action to cost-cutting.
He said, “Arube married two women about 20 years ago. One divorced him, leaving him with just one wife. To cut costs, he decided to marry four women this year. Along the way, one pulled out.
“He is a music legend in Delta. He sings Isoko highlife. He has been in the music scene for over 30 years. However, at the beginning of his life, he was a driver who mixed music with his career. He had a band with a group of people, but they split up, and he formed his dance band, which he named Arube, about 12 years ago. Since then, he has released more than 10 albums.
“None of them is from his community, so he didn’t woo them in the same place or time. Two of the three women have given birth to a child, each for him, and the other one is still awaiting the fruit of her womb. He did the traditional rite with them about last year on the same day.”
Arube is from Uzere Kingdom, in Isoko-South LGA, and the three wives representing Edafemaga, Agbede, and Samuel Atubi are from Lagos-Iyede in Ndokwa East LGA, Oruamudhu Ozoro Kingdom in Isoko North LGA and Uroto Quarter, Ozoro Kingdom in Isoko North LGA of Delta State respectively.
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The Inter Party Advisory Council, IPAC, has noted that it was only by the Grace of God that Nigerians survived the passing year.
For this reason, the Council called on the government to pay more attention to the fight against insecurity and corruption, reinvigorating the economy, ensuring food security and providing social amenities in the coming year.
While noting that the challenges ahead were enormous, IPAC also called on citizens to hold government at various levels accountable.
The Council called on citizens to unite to deepen the country’s democracy and build a better nation the present and future generations can be proud of, adding that the opportunities and dividends of democracy are enormous.
IPAC challenged citizens to remain prayerful and patriotic, adding that it “was only by the grace of God that Nigerians survived the socio-economic hardship of 2024.”
In a statement by Yusuf Dantalle, its national Chairman, IPAC said the economic challenges were unprecedented in the history of Nigeria.
“We are grateful to God for His mercies, protection and care which have reinforced our hope and faith in consolidating our democracy and building a strong, united, stable, progressive, equitable, prosperous and just society in 2025,” the statement added.
“Nigerians are indeed resilient, resourceful and enterprising people who have made enormous sacrifices since Independence in 1960 in the onerous task of building a better nation.
“Their abiding faith in the fatherland and prospect for a brighter future should not be taken for granted by elected public officers bearing in mind that sovereignty resides in the people.
“As we approach the threshold of 2025, a fresh start is offered to us to objectively appraise our successes and failures in 2024 and firmly resolve to rededicate ourselves in making Nigeria great again.
“The challenges ahead are enormous and so are the opportunities if we keep watering and nurturing the democracy tree to maturity to yield its fruits to citizens.
“Since nation-building is a collective responsibility, IPAC urges Nigerians to be prayerful, proactive on issues affecting them and hold leaders accountable as the price for freedom and prosperity is eternal vigilance.
“As the umbrella body of all the registered political parties in Nigeria, IPAC will continue to lead from the front to ensure good governance and well-being of the people.
“Council will vigorously pursue its Peer Review Mechanism set up to evaluate the milestones achieved by governors in the implementation of the sustainable development goals in the states, the legislators on effective, vibrant and robust representations, oversight functions and law-making, as well as monitor the progress of the recent financial autonomy granted to the 774 Local Governments in the country as the government closest to the people.”
IPAC said it had begun the move to eliminate the fielding of candidates with questionable credentials for elections.
“This ensures that every document, credential, and piece of information associated with candidates is rigorously examined for authenticity and accuracy to prevent undue disqualification of candidates who won elections with fraudulent credentials by the court.
“All hands must be on deck as we jointly rebuild trust in our democratic process by fighting corruption, ensuring political stability, credible elections, an independent judiciary, vibrant economy, food security, gainful employment, a living wage, social cohesion, religious harmony, quality education, healthcare, efficient power supply, adequate security and social amenities,” it added.
Founder of Living Faith Church worldwide, Bishop David Oyedepo has declared that 2025 will be a new era for believers.
Reeling out prophecies for the new year, Oyedepo, who spoke at the annual crossover night service at Canaan Land, Ogun State said the days of murmuring and complaining are over.
According to Oyedepo, amazing things will start unfolding in the lives of believers in the year 2025.
He said, “By the signal of the Holy Ghost, 2025 shall be your year of new beginning. Your year of new dawn, great chapters opening to your lives.
“Welcome to 2025, a new era. You will be wondering “have I been a Christian all along?” Amazing things shall start taking place in your lives.
“You are moving to your new realm in all areas of your lives, a new era in your health, family, your spiritual life and in your business and career.
“It will never be like before anymore. Your days of murmuring and complaining are over. Your days of biting your fingers are over”.
Prophet Joshua Iginla of the Champion Royal Assembly has warned Nigerians about a possible medical emergency for President Tinubu.
Iginla made these remarks during his 2025 prophecy which he claimed God gave to him during his New Year’s message at the Cross-over service held in his church in Abuja.
He also predicted that there would be strong resistance against Senate President Godswill Akpabio from Northern politicians.
Iginla also advised the federal government not to ignore the views of Northern Nigerians, emphasizing the importance of finding common ground for peaceful resolution.
He also urged FCT minister, Nyesom Wike, to prioritize his health to effectively carry out his duties.
The cleric said: “President Tinubu must pay attention to his health and give himself much rest so that the enemy does not take that as a way of giving him a strong blow because I saw a medical emergency and we don’t pray that that should happen.
“We pray against it, but that’s what I saw. That is very, very important that he should take care of his health And there is going to be a lot of gang up against him strongly, very strongly.
“And the drama will unfold this year like never before, and there will be a strong betrayal.
“For the Senate President, Godswill Akpabio, he is going to have a lot of strong resistance from the strong Northern powers. They want to move a vote of no confidence or impeachment process against him. Like I saw clearly too. He has to play good politics with the Northern brothers.
“They are like I said to the President, there’s a Gang up. He must work in a peaceful strategy with the Northern elite to make sure that promises that are made in secret should be honoured openly. As it is, is still going to cause more problems in the Senate.
“Talking about the Senate President, Godswill Akpabio, you know the Senate has seen the wish of the Northern Senators and Governor will gang against him in the past year, 2024, is still what he is going to witness. Even more than that, the tax reform bill one of the crux of the matter and more of the things that I don’t want to mention publicly are part of the things that are there.
“I want to say that the government of the day should not play with the North in terms of trampling on their views. We should find a common ground for peaceful resolution. It’s very important. There should be no issue of fighting back, an issue of I think I have the power, I can do many things. If not, there can be many surprises politically.
“As for the FCT minister, he should pray concerning his health and he will do more projects and turn the city around, he will step on many toes, he will bring a lot of reformation to FCT, but he has to pray for his health. It’s only the living that can actually have a political mandate and move forward.”
Telecommunications subscribers have vehemently rejected a proposed 40 per cent telecom service tariff hike in Nigeria expected to kick off in 2025.
The National Exco of the National Association of Telecoms Subscribers, NATCOMS, made this known in a communique jointly signed by its National president, Chief Adeolu Ogunbanjo, and the Secretary, Barr. Bayo Omotubora, on Tuesday.
The stance by the subscribers comes amid widespread claims of a planned telecom service tariff hike in 2025.
Reacting, NATCOMS said any plan to hike telecom service tariffs would be very insensitive amid the current economic hardship faced by Nigerians.
The association urged telecom operators to seek another alternative instead of a tariff hike to address rising operator costs.
“The National Exco of the National Association of Telecoms Subscribers (NATCOMS) held an emergency meeting on the 31st of December, 2024, on the planned tariff hike of telecommunication services. A unanimous resolution arising therefrom is our total objection to the planned tariff hike.
“The Nigerian Communications Commission (NCC), as recently published in both the print and electronic media, gave an approval to the Telecommunication Service Operators to hike their tariffs, and the approved increment would see the current tariffs rise by about 40 percent.
“This Association considers the decision of the NCC as very insensitive and not in the interest of Telecoms Services Consumers.
“The unrelenting rise in prices of goods and services in the country has made life extremely difficult for the generality of citizens who are the consumers of telecom services. The new increment is, therefore, one additional burden too many.
Under the new tariffs regime, a voice call will rise from N11.00 to N15.40 per minute. Short message services will jump from N4.00 to N5.60 and
“One GB data bundle will move from N1,000 to N1,400. This represents additional digital costs consumers will have to square up with at the beginning of a new year, among other harsh economic realities of Nigeria today. This, undoubtedly, is against public interest, contrary to the false narrative of NCC that described the recent adjustments as pro public interest.
“This Association sees the increment as an official policy to price telecom services out of the reach of the generality of the citizens of this country.
“The cumulative effect of the pending suit and the public outcry prompted the federal government to suspend the implementation of the excise duty charge, but the charge is now part of the controversial tax reform bills now pending before the National Assembly.
“The implication of the foregoing is this: The new increment will now make telecommunication services more expensive by 40% in the New Year, and if the controversial tax bills sail through, telecommunication services will now attract a 12.5% tax rate, and by then two-thirds of telecom services subscribers would have been priced out of the telecom services market. This is a complete negation of the statutory duty of NCC to protect the interest of Telecom Services Consumers.
“We are aware of the arguments of the telecom operators that there has not been any tariff increment in a decade, multiple levies slammed on them by different levels/tiers of government, and the dollarization of the costs of their equipment. But if the truth be told, there are many other avenues through which the operators can generate funds to meet their rising operational costs without putting an unbearable burden on their consumers.
“The Nigerian Stock Exchange Market, for instance, is a veritable avenue for the operators to raise funds to meet their costs requirements. The operators should bring part of the ownership of their companies to their subscribers through public offers,” it said.
Recall that telecom operators under the aegis of the Association of Licensed Telecommunications Operators of Nigeria (ALTON) in a statement on Sunday by its chairman, Gbenga Adebayo, demanded an immediate review of telecom tariffs to save the sector from an imminent shutdown.
Meanwhile, official sources within NCC had denied claims that the commission had approved a fresh telecoms tariff hike from 2025.