Business
Investing in the Nigerian People: the Osinbajo’s paradigm
By AmaechiAgbo
“A successful economic development strategy must focus on improving the skills of the country’s workforce, reducing the cost of doing business and making available the resources business needs to compete and thrive in the nation’s economy” – Rod Blagojevich
Nigeria’s Vice President, Professor Oluyemi Osibanjo is one man who has taken the monumental task of spearheading the diversification of the Nigerian economy from a mono-economy to one that has a multiplicity of sources towards breaking the tag of oil as the mainstay of the nation’s revenue.
Weeks ago, the Vice President told a global audience how the government of President Muhammad Buhari has revamped Nigerian economy through purposeful policies and programmes.
Speaking during the 10th year Colloquium of former Lagos State governor and leader of the All Progressives Congress, APC, Senator Ahmed Tinubu in Lagos, recently, the Vice President recounted how the present administration inherited a weak economy ravaged by corruption and ineffective policies that sooner than later plunged the country into avoidable recession had past governments did the needful in stabilizing the economy.
To pull the country out of recession and create jobs for Nigerian youths, the Vice President highlighted that the administration was left with only two options: heavy investment in agriculture and the need to put in place an audacious Social Investment Programme to the tune of N500 billion, the largest pro-poor programme in Nigeria’s history, and the largest social safety net, at least in Sub-Saharan Africa to date.
The Vice President went further to note that other policies such as N-Power Programme has created 200,000 jobs for undergraduates employed as well as 300,000 more waiting to be employed; the beneficiaries have been pre-selected stressing that over 7 million children are being fed daily in 22 States so far; beneficiaries of microcredit loans going to about 300,000; and almost 300,000 households benefiting from conditional cash transfers.
The successes recorded by its social investment programmes are clear indications that the President MohammaduBuhari administration’s Economic Recovery and Growth Plan (ERGP) is making progress.
To actualise the set target of ERGP, the economic team, headed by the Vice President had two options to explore. One of which was investing heavily in agriculture thereby creating jobs in the hinterlands, providing enough food locally and for all of the urban areas. In the agriculture programme, the ERGP has been a tremendous success as several millions of Nigerians have been employed in agriculture. This has led Mr. President to confess that some people who have abandoned their farms, in his own village where they used to let out farms or lease out their farms to farmers from Kano have decided to retain their farms for their own agricultural uses. Who wants to be left out anyway? The President added that nobody in Katsina State is leasing out their farms anymore as they all have gone back to farm.
The second option which the Economic Team explored also to the fullest was putting in place an audacious Social Investment Programme, SIP, to the tune of N500 billion; the largest pro-poor programme in Nigeria’s history, and the largest social safety net, at least in Sub-Saharan Africa. This was despite the fact that by 2015, oil prices fell by over 50% and Nigeria’s production also fell from over 2 million barrels a day to less than 700,000 barrels a day, sometimes even 500,000 barrels in 2016.
But today, the empirical evidence of the successes of this programme, and all of that is evident for Nigerians to see and listen to several testimonies and stories.
The social investment programmes, which are a key component of the administration’s Economic Recovery and Growth Plan (ERGP), have made significant strides nationwide because of the administration’s political will and vision to make the needed investments, for today and the future.
The Federal Government is leveraging on the creativity and innovation of young Nigerians to steady the economy and improve the living standards of the citizenry.
For instance, 200,000 jobs have been created for graduates employed under the N-Power programme with 300,000 more waiting to be employed after they have been pre-selected.
N-Power, is known as the jobs-for-graduates component of the Social Investment Programme. It deploys young Nigerians to work as health and teaching assistants, and agriculture extension workers, thus bringing healthcare, quality education and improved agriculture output to more people across the country.
Also, over 7 million children are being fed daily in 22 States so far; another 300,000 beneficiaries receive microcredit loans; and almost 300,000 households are benefiting from the Buhari conditional cash transfers of 5,000 monthly.
The federal government commenced the implementation of its Conditional Cash Transfer (CCT) payments to beneficiaries in nine states early last year. The nine pilot states are Borno, Kwara, Bauchi, Cross River, Niger, Kogi, Oyo, Ogun and Ekiti. Last year, the federal government allocated N500 billion for the implementation of its social welfare agenda.
The nine pilot states were chosen because they have an existing social register that identified the most vulnerable and poorest Nigerians in their localities through a community-based targeting method designed by the World Bank.
However, other states that have already begun developing their social registers have been included in the subsequent phases of the CCT implementation with the number of states implementing the CCT programme now 22 as at August last year.
The cash transfer programme, which the APC-led national government is delivering with the support of the World Bank, makes it imperative for beneficiaries to fulfil certain conditions relating to health or education, before they can receive their monthly stipends. These conditions range from mandatory ante-natal care for pregnant women, to mandatory immunisations for nursing mothers, to minimum school attendance rates for parents of school-age children.
With the primary aim of ERGP being to invest in the Nigerian people, the federal government is expanding the reach and quality of the nation’s healthcare, through the National Health Insurance Scheme (NHIS); and working to guarantee basic education for all persons, whilst also upgrading and modernising the quality of secondary and post-secondary education.
The Buhari led administration is not paying lip-service to investing in the Nigerian people. And Vice President Osinbajo has been the key driver – as the head of the country’s economic management team. He has provided astute idea-driven and capable leadership. Like most investments, the fruits may not come out immediately, but assuredly, decades from today, Nigerians would indeed be thankful for the Buhari – Osinbajo Presidency.
AmaechiAgbo is a public affairs analyst based in Abuja
Business
Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing
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.
Business
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
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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