Business
‘We will shut down Nigeria if Federal Government sells National assets’ – PENGASSAN, TUC Threaten
Oil workers, under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria, have threatened to shut down the country should the Federal Government carry out its plan to sell national assets to augment revenue shortfall.
Also, the Trade Union Congress on Sunday said it would join PENGASSAN to shut down the country if the government remained adamant on its plan to sell some national assets.
PENGASSAN, in a statement on Sunday by its National Public Relations Officer, Mr. Emmanuel Ojugbana, said the government should look into other ways to increase its revenue base while plugging loopholes and leakages in government’s finances.
The union, which described the plan to sell the national assets as a self-destructive move for Nigeria, said, “The plan meant to solve short-term financial obligations is targeted at handing over our collective wealth to a few individuals and further impoverish the rest of our countrymen and women.”
It said government at all levels should pump money into the economy through the execution of capital projects and payment of workers’ salaries to revive the economy.
PENGASSAN said it would not sit back and watch the sale of national assets, especially those in the oil and gas industry, such as the Nigeria LNG that had become a huge revenue-earner for Nigeria; refineries and shares in the upstream oil and gas JV operations being shared among those in power and their cronies.
It said, “Any attempt to sell these national assets will be met with stiff resistance from the association, as PENGASSAN will galvanise every support, including that of our sister union and labour centres to shut down this country by ensuring that every activity in the oil and gas sector is brought to a complete halt.
“Some opportunists in the clothes of businessmen and short-sighted politicians had earlier advocated the sale of public assets such as the NLNG, four state-owned refineries, Nigeria’s stakes in the Africa Finance Corporation, the nation’s airports and reduction of government’s shares in upstream oil joint venture operations and this was approved by the National Economic Council.”
Reacting to the recent approval of the sale of the national assets by the NEC, Ojugbana said the sale of the assets would further compound the economic and security problems in the country.
He added, “They should tell us what will happen after the recession if we have sold the assets to greedy individuals. Will the country go cap in hand begging those individuals who bought the assets and borrowing from them?”
He said the plan “is ill-timed and unwarranted as it does not serve national interest,” adding that no nation could develop, survive or feel secure after selling all its national assets.”
PENGASSAN stated, “Doing this will further mortgage the future of our great country in the hands of few cabals. These individuals are just looking for advantage to further loot the country through illegal acquisition of the national assets as in the case of various oil blocks held by a few powerful Nigerians.
“The sale of national assets is not only surprising but also embarrassing for a nation experiencing economic recession. The proponents of the sale of national assets are those who have been actively involved in the operations of the nation’s economy in the past. They were part of those responsible for the country’s current economic situation.”
According to him, such sales in the past, including the power and steel sectors privatisation, are just a shift from public monopoly to private monopoly, which has further worsen those sectors.
“It is, therefore, the candid position of PENGASSAN that such a plan should be thrown into the trash bin. Government should continue to seek better ways to address the present economic challenges and reduce areas of wastage. The long overdue calls for diversification of the economy should be driven with all seriousness; more action is required urgently than propaganda mechanism,” he said.
The President of the TUC, Mr. Bala Kaigama, said on the telephone on Sunday that the Congress would collaborate with the two major unions in the oil sector because the planned sale of the assets was flawed.
He noted that if those who invested in the assets had sold them, the current administration would not have met them.
Kaigama said, “We will solidarise with them. You cannot sell vital assets like that. You don’t. If those who invested in the assets had sold them, would they have met them?
“Of course, these business people, who are saying sell and sell, let them pay the appropriate taxes. Those people who are not paying the appropriate taxes, let them pay the appropriate taxes and money will accrue to the Federal Government.
“TUC will solidarise with NUPENG and PENGASSAN to shut down the country.”
The Nigeria Labour Congress, on its own, said while it would take necessary steps on the issue, it had not taken the decision to shut down the country.
The General Secretary of the NLC, Dr. Peter Ozo-Eson, stated on Sunday that the congress would inform Nigerians when the decision was taken.
Ozo-Eson added, “No. We are a democratic organ; we have our processes. We have not taken a decision; when we take a decision, we will let the country know.
“If individual unions have announced, we have no quarrel with that. We are opposed to it (assets sale) and we will take the necessary steps. We have not yet taken that decision of shutting down the country or whatever. We will inform the nation when we take that decision.”
Selling national assets signifies panic, says don, activist
Also, a frontline economist and Executive Chairman, African Centre for Shared Development Capacity Building, Prof. Olu Ajakaiye, has said selling national assets because of the current economic recession in the country will amount to taking a panicky measure.
In an interview with one of our correspondents on Sunday, Ajakaiye said rather than selling national assets in a hurry, the government should undertake a comprehensive study of the funding gaps required to bail the nation out of recession in order to determine the best step possible.
He stated, “The highly publicised Medium Term Expenditure Framework and similar basically financial programming tools do not contain specific screened, selected and prioritised projects and programmes to which Nigerians can relate. Resource gap determined from such tools can be dangerously misdirecting and can create unnecessary panic. Sale of assets in a panic situation like was done carelessly during the late 1980s should not be repeated.
“If the resource gap includes recurrent, sale of assets to close such gap will be inappropriate because it is tantamount to consuming capital and that will be irresponsible. Moreover, what happens when the proceeds of the sale is exhausted? What are we going to sell to pay the next salary, for example?
“If the resource gap is exclusively due to bona fide capital projects that have been properly screened, selected and ranked in order of priority based on their direct and indirect contributions to national development goals, alternative financing options should be carefully considered. The first step is to surgically consider cutting excesses and illegitimate as well as unreasonable components of recurrent expenditure.”
Ajakaiye said the personnel cost component of government should be cleaned up by sustaining and generalising ongoing application of technology to eliminate all forms of impurities in the system including ‘ghost’ workers.
He argued that no attempt should be made to retrench workers, saying this would be inconsistent with the goal of reducing unemployment and legitimately reflating the economy.
He added that salaries and allowances of political and public office holders should be drastically reviewed downwards.
Ajakaiye said, “This is consistent with the slogan of Change Begins With Me. Change should begin with those at the top. The Revenue Mobilisation, Allocation and Fiscal Commission should quickly propose such reductions so as to make it mandatory. Very few political and public office holders followed the example of the President and Vice-President because it is optional.”
A civil rights activist, Imma Okochua, said savings from the removal of petrol subsidy as well as monies recovered from looted public funds should be used to fund gaps in government resources.
He said, “If the recession was caused by the fall in oil price and especially by the reduced production and exportation due to militancy, why don’t you solve the militancy problem? Is it impossible to solve?
“When you have sold our national assets and we have consumed the proceeds, or the government has squandered it, and oil prices remain low and the militants remain undefeated or persuaded, what will the government do? Will they sell us to the highest bidder?”
He urged the government to ensure that it made effective use of the N50 stamp duty it was collecting from payments into current accounts.
Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing
By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com
“Shift or Structural Demand? A Declaration of Civic Duty in a Nation at a Fiscal Crossroads.”
In the unfolding narrative of national development and economic reform, few instruments are as defining as tax compliance. For Nigeria, a nation perpetually grappling with revenue shortfalls, structural dependency on a single export commodity, and entrenched informal economic behaviour, the Federal Government’s recent clarification on tax return deadlines is not mere bureaucratic noise. It is a deliberate and inescapable declaration: the social contract between citizen and state must be honoured through transparent, lawful and timely tax reporting.
At its core, the government’s pronouncement is stark in its simplicity and radical in its implications. Federal authorities, speaking through the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, have made it unequivocally clear that every Nigerian, whether employer or individual taxpayer, must file annual tax returns under the law. This encompasses self-assessment filings by individuals that too many assumed ended once employers deducted pay-as-you-earn taxes from their salaries.
This is not an optional civic suggestion, it is mandatory, backed by statute, and tied to a broader vision of national fiscal responsibility. Citizens can no longer hide behind ignorance, apathy, or false assumptions. “Many people assume that if their employer deducts tax from their salaries, their obligations end there. That is wrong,” Oyedele warned, emphasizing that the obligation to file remains with the individual under both existing and newly reformed tax laws.
The Deadlines and the Reality They Reveal.
Across the federation, state and federal revenue authorities have reaffirmed statutory deadlines in pursuit of compliance. The Lagos State Internal Revenue Service, for instance, moved to extend its filing date for employer returns by a narrow window, reflecting the reality that compliance often lags behind legal timelines. The extension was intended not as leniency, but as a pragmatic effort to allow accurate and complete submissions, underscoring that true compliance rises above mere mechanical ticking of a box.
At the federal level, Oyedele’s intervention was even more fundamental. He reminded Nigerians that annual tax returns for the preceding year must be filed in good faith, with integrity and in respect of the law. This applies regardless of income level including low-income earners who have historically believed that they are outside the tax net. “All of us must file our returns, including those earning low income,” he stated.
Herein lies one of the most challenging truths of contemporary Nigerian governance: widespread tax non-compliance is not just a technical breach of law, it is a deep cultural and structural issue that reflects decades of mistrust between citizens and the state.
The Root of the Problem: Non-Compliance as a Symptom.
Nigeria’s tax culture has long been under scrutiny. Public discourse and economic analysis consistently show that a significant majority of eligible taxpayers do not file annual returns. Oyedele highlighted that even in states widely regarded as tax administration leaders, compliance remains strikingly low, often below five percent.
This widespread non-compliance stems from multiple sources:
A long history of weak tax administration systems, where enforcement was inconsistent and penalties were rarely applied.
A perception that public services do not reflect the taxes collected, eroding the citizenry’s belief in reciprocity.
An informal economy where income often goes unrecorded, making filing seem irrelevant or impossible to many.
Lack of awareness, with many Nigerians genuinely believing that tax liability ends with employer deductions.
The government’s renewed push for compliance directly challenges these perceptions. It signals a shift from voluntary or lax compliance to structured accountability, a stance that aligns with best practices in modern public finance.
Why This Matters: Beyond Deadlines.
At its most profound level, the insistence on tax return filings is about nation-building and shared responsibility.
Scholars of public finance universally agree that a robust tax system is the backbone of sustainable development. As the eminent economist Dr. Joseph E. Stiglitz has observed, “A society that cannot mobilize its own resources through fair taxation undermines both its government’s legitimacy and its capacity to provide for its people.” Filing tax returns is not a mere administrative task, it is a declaration of participation in the collective project of national advancement.
In Nigeria’s context, this declaration carries weight. With the enactment of comprehensive tax reforms in recent years (including unified frameworks for tax administration and enforcement) authorities now possess broader statutory tools to ensure compliance and accountability. These measures, which include electronic filing platforms and stronger enforcement powers, have been framed as fair and equitable, targeting efficiency rather than arbitrariness.
Yet the success of these reforms depends heavily on citizens embracing their civic duties with sincerity. And this depends on mutual trust, the belief that paying taxes yields tangible benefits in infrastructure, education, healthcare, security and social services.
Voices From Experts: Fiscal Responsibility as a Public Ethic.
Tax law experts and economists, reflecting on the compliance push, have underscored a universal theme: taxation without transparency is inequity, but taxation with accountability is empowerment. When managed with fairness, a functional tax system can reduce dependency on volatile revenue sources, stabilise national budgets, and support long-term investment in human capital.
Professor Aisha Bello, a respected authority in fiscal policy, notes that “Tax compliance is not a burden; it is the foundation upon which social contracts are built. A citizen who honours tax obligations affirms the legitimacy of governance and demands better performance in return.”
Similarly, a leading tax scholar, Dr. Emeka Okon, argues that “The era when Nigerians could evade broader tax responsibilities simply because automatic deductions occur at source must end. For a modern economy, every eligible citizen must be part of the formal tax fold not as victims, but as stakeholders.”
These authoritative voices point to an unassailable truth: filing tax returns is both a legal requirement and a moral responsibility, an expression of citizenship in its fullest sense.
Challenges on the Ground: Compliance and Capacity.
While the rhetoric of compliance is compelling, the reality on the ground demands nuanced understanding. Many taxpayers (especially in the informal sector) lack meaningful access to digital platforms and resources for filing returns. For others, the fear of bureaucratic complexity and perceived punitive enforcement deters participation.
The government, for its part, has responded by promoting online systems and pledging greater taxpayer support. Tax authorities are increasingly engaging stakeholders to demystify filing processes, explain requirements and offer assistance. This mix of enforcement and facilitation is essential. As one seasoned revenue specialist observed: “The state cannot compel compliance through force alone; it must earn it through education, simplicity and fairness.”
The Broader Implication: A New Social Compact.
Ultimately, Nigeria’s renewed emphasis on tax return filing transcends administrative deadlines. It is an unequivocal declaration that national development is a shared responsibility, that citizens and state must engage in a transparent, accountable, and reciprocal relationship.
Tax compliance, therefore, becomes far more than a legal act; it becomes a moral claim on the nation’s future.
When citizens file their returns honestly, they affirm their stake in the nation’s destiny. When the government collects taxes transparently and deploys them effectively, it strengthens not only public services but civic trust itself.
In this sense, the deadlines proclaimed by Nigeria’s fiscal authorities mark not an end but a beginning; the beginning of a civic epoch in which accountability replaces apathy, participation replaces indifference and national purpose triumphs over fragmentation.
The road ahead will not be easy. But in demanding compliance, Nigeria is demanding more than tax returns. It is demanding commitment and that, ultimately, is the foundation on which nations are built.
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
By femi Oyewale
Business
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
In celebration of the season of love, Adron Homes and Properties has announced the launch of its special Valentine campaign, “Love for Love” Promo, a customer-centric initiative designed to reward Nigerians who choose to express love through smart, lasting real estate investments.
The Love for Love Promo offers clients attractive discounts, flexible payment options, and an array of exclusive gift items, reinforcing Adron Homes’ commitment to making property ownership both rewarding and accessible. The campaign runs throughout the Valentine season and applies to the company’s wide portfolio of estates and housing projects strategically located across Nigeria.
Speaking on the promo, the company’s Managing Director, Mrs Adenike Ajobo, stated that the initiative is aimed at encouraging individuals and families to move beyond conventional Valentine gifts by investing in assets that secure their future. According to the company, love is best demonstrated through stability, legacy, and long-term value—principles that real estate ownership represents.
Under the promo structure, clients who make a payment of ₦100,000 receive cake, chocolates, and a bottle of wine, while those who pay ₦200,000 are rewarded with a Love Hamper. Payments of ₦500,000 attract a Love Hamper plus cake, and clients who pay ₦1,000,000 enjoy a choice of a Samsung phone or a Love Hamper with cake.
The rewards become increasingly premium as commitment grows. Clients who pay ₦5,000,000 receive either an iPad or an all-expenses-paid romantic getaway for a couple at one of Nigeria’s finest hotels, which includes two nights’ accommodation, special treats, and a Love Hamper. A payment of ₦10,000,000 comes with a choice of a Samsung Z Fold 7, three nights at a top-tier resort in Nigeria, or a full solar power installation.
For high-value investors, the Love for Love Promo delivers exceptional lifestyle experiences. Clients who pay ₦30,000,000 on land are rewarded with a three-night couple’s trip to Doha, Qatar, or South Africa, while purchasers of any Adron Homes house valued at ₦50,000,000 receive a double-door refrigerator.
The promo covers Adron Homes’ estates located in Lagos, Shimawa, Sagamu, Atan–Ota, Papalanto, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, and Niger States, offering clients the opportunity to invest in fast-growing, strategically positioned communities nationwide.
Adron Homes reiterated that beyond the incentives, the campaign underscores the company’s strong reputation for secure land titles, affordable pricing, strategic locations, and a proven legacy in real estate development.
As Valentine’s Day approaches, Adron Homes encourages Nigerians at home and in the diaspora to take advantage of the Love for Love Promo to enjoy exceptional value, exclusive rewards, and the opportunity to build a future rooted in love, security, and prosperity.
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