Business

NEVACO: The Newest Sherriff in town

Published

10 years ago

July 17, 2016

In 2004 a popular Nigerian pop musician released a song that took a swipe at Nigeria. Though so many thought the lyrics to be satirical, former President Olusegun Obasanjo’s reaction to Eedris Abdukareem’s Jaja-Jaga made headlines in national dailies.

The lyrics described how uncoordinated and hopeless the Nigeria project had become in the sense that nothing was working in the security, business, education and other sectors.

Contrary to the sharp criticisms and bashing the presidency lashed out at the artiste, the song was heralded by Nigerians as describing the reality in the country and captures the desperation, frustration and utter disconnect the citizenry had with government. It was, in a way, a plea by the artiste to the government to get things organized.

With the return to democracy in 1999 following long years of military regimes, there was certainly a lack of ethics and values in Nigeria and Nigerians. There became an urgent need to urge the citizens to once again have a belief in themselves, the government and the country. There was a basic need to uplift the standard of living of the populace in the communities and ensure that they have a sense of belonging in Nigeria and get the best of social services, having the mindset that our political class had overtime encouraged disobedience to the rule of law which has inadvertently eroded the ethical value systems and belief.

The Federal Government, under former President Goodluck Jonathan, on March 17th, 2015 established National Ethnics and Values Department to critically examine the fundamental change in Nigeria that brought corruption to the glare of the public and looking into the importance of ethics and values in our system of governance with Dr. (Mrs.) Serah Jubril appointed the Special Adviser with a view to promoting inherent values of integrity, honesty, fairness and responsibility towards a positive transformation of Nigeria’s cultural heritage and ethical awareness the nation’s core values system.

After the historic election in 2015 which for the first time saw an opposition party defeating the incumbent government, Nigeria was seen to be in a path to self-realization based on the Change Mantra in which the President Muhammadu Buhari government came into power with.

And to achieve this, President Buhari established the National Ethics and Values Compliance Office (NEVACO) to build in Nigerians that self-confidence is needed. NEVACO is looking at developing the entrepreneurship skill of individuals to be self-reliant, developing code of ethics that will stand the test of time, developing code of conduct of ethical training for all staff, developing a broader social responsibility to showcase it as a source of group strength.

Appointed to shepherd this new establishment is Dr. Emmanuel Adeoye as its first Director General, saddled with the task of giving a new orientation to Nigerians to ethics and values.

Correcting the wrongs

According to Adeoye, the core responsibilities that NEVACO has now are to correct the wrong perceptions in the country and redirect the thinking of Nigerians positively.

“NEVACO is established to correct the wrong, the evil vices we are doing in our country and society today. It is to make sure we do things the right way, which we have not been doing in the country, even the little child in Nigeria today want to make money by wrong ways. So, the aim of the commission is to educate people to be upright and sincere in whatever they are doing. For instance, you want to go to the ministry for something, you must have to bribe somebody to help push the letter, this act is wrong and we want to correct it. So, we are out to let everybody know whatever you are doing in the country, let it be ethnical, let it be done in the right way. Ethnic is to correct the abnormality in the society, to correct the misimpression by the outside communities.”

Being among the newest federal government organizations to be established there are fears that the current state of the economy would affect the effectiveness of the commission given the heavy task it has been saddled with in dealing with over 150 million Nigerians and also with the various experiences being witnessed in the North East, South East and Niger Delta regions. But Adeoye dispelled those fears saying that NEVACO existed as the Foundation for Ethics and Values (FEAV) under the former special adviser, Dr. Sarah Jubril under the Goodluck Jonathan administration.

“If you would remember vividly, how Ethics and Value was been run, the former administration, appointed her Excellency Sarah Jubril as Special Adviser on Ethics and Values and later on my office was created, I am the first Director-General. So, based on this what was in existence before was FEAV at the time, she was not been given fund so she has to use her NGO to carry the message which to me was a good idea, she started it as a corporative society to help the people with their communities.

“For instance, if there is cassava in a particular village, anybody can borrow money from the corporative and process the cassava, refund the money after selling and the loan given to another people. That was how the structures started going base on NGO bases, what the government is doing now is that they are interested, and decided to say let make it a proper structure. But, again, there is no fund, what we told the government is that we will create something to be generating fund, so that the burden would not be on the government alone. That is what the government is looking for, that is what everybody need now. Because the government can’t do everything, there’s no fund/money anywhere at the moment,” he said.

Not waiting for government

With a full knowledge of the task ahead the new DG embarked a sensitization programs aimed at introducing NEVACO to the grassroots all across the six geo-political zones in the country. The first was held at Ado-Ekiti, Ekiti State over the weekend with a great emphasis on agriculture.

The conference tagged South West Convention on Ethics and Values sought to engage the people, listen to their complaints and educate them on the need to adhere strictly to the ethics and values of the country. The participants drawn from all sectors of the economy had open access to the Director-General. The core message NEVACO is dwelling on is the need for Nigerians to return to farming. Also enumerated were some of the attracting offers NEVACO spelt out to those who comply.

“We intend to create employment, by training people on different vocations. For instance, in Ekiti state right now, the yam flour Processing Mill is down; it has not been working for a long time. We are looking at NEVACO taking over the mill, we can talk to the people, they bring the yam to our warehouse, we can buy it from them, process it and repackage it for final consumption. We have to invest; we have to also look at bringing in investors to partner with us. We must find a way to create jobs/employment; we don’t need to wait for the government for everything.”

Adeoye made it clear that as a new sheriff tasked with preserving the ethics and values of the land, they are looking for partners that will work progressively with them to achieve the objective.

“We are looking for credible people to drive these programs, not just anybody that would come to destruct the whole process. Like I always tell people, Nigerian like to two things, they like uniform and they like titles. So, structures have to be on ground to correct. Everybody must know their function, not for a watch repairer to stand up and tell the whole world he is a managing director. In order words, we need to get the message of the government to the grassroots; there must be orderliness, structures for everybody to carry out their respective functions.”

Duplication of duties

With the Bill establishing the National Ethics and Values Compliance still under consideration by the National Assembly, some experts are of the fear that the duties of the compliance officers may be conflicting with those of the police and Civil Defense corps, an assertion Adeoye said isn’t possible as ethics and values compliance will also partner with the police, armed forces and civil societies.

“The police is established to act after the offence, the Police arrest because you are a criminal, the DSS arrest criminals but NEVACO is a compliance office. We are there to correct everybody; all Nigerians. We are compliance officer and tasked to preach the change, ethnics and value to let people know their right from wrong. We are there to correct people, even the policeman can be corrected by a Compliance Officer. We were with the Inspector General of Police recently and we told them we are here to partner with them, we told them they also need to establish ethnics and value in the police force to deal with any officers that try to go above the law. Every department of our lives, every ministry, parastatals must have a compliance officer to correct abnormality in the country. We don’t arrest, we make sure you don’t commit the crime. The police arrest after a crime is committed but we are here to prevent you from committing the crime in the first place. We are going to partner with the police and already existing arm forces; we are here to enlighten people.”

Owing to the hard anti-corruption stance of President Muhammadu Buhari and his establishment of the War Against Indiscipline (WAI) as a military administrator with WAI brigade corps enforcing discipline at times with force, there has been some allegations by the opposition that the establishment of NEVACO is another form of Buhari bringing in attack dogs that will champion his anti-corruption cause. But the DG reassures that none of that is true as every advanced government knows the need to have an ethics and values department.

“Any serious government all over the world must have Ethics and Values, just take a look at the advance world. It duties is to correct, train and enlighten the citizen. In Nigeria we are developing and as a develop nation things like this will need to stay together as one. Other organization will come up in the nearest future that will are suppose to have. Even in the National Assembly at the moment have a committee on Ethnic and Values is to check them.”

The first test that NEVACO is likely to encounter is the turbulence being witnessed across the regions; Boko Haram in the North East; the agitation for Secession by the Independent People of Biafra (IPOB) and the Niger Delta Avengers (NDA) in the South-South, how ready is the commission to send its officers to these volatile areas.

“You know as government, we are talking to everybody; some parts of the country feel cheated and feel they need to have their own share. But, most of the problems are even the communities themselves, they vandalize the pile and it will spill over and destroy their farm, some of them have different ship on the sea to hijack vessel and this is not helping the federal government. Resource control is what they are fighting for, they want to be in control, but this is one Nigeria they should know that there is no negotiation. Power belongs to the people and not one section of the country. They claim they are fighting for the community, but the communities are rejecting them, as we read in the papers every day,” he said.

Business

Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing

Published

2 days ago

February 1, 2026

Sahara Weekly

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

Published

4 days ago

January 29, 2026

Sahara Weekly

BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

By femi Oyewale

BUA Foods Plc has delivered one of the most impressive financial performances in Nigeria’s fast-moving consumer goods (FMCG) sector, recording a 91 per cent increase in Profit After Tax (PAT) for the 2025 financial year.

According to the company’s unaudited financial results for the year ended December 31, 2025, Profit After Tax rose sharply to ₦508 billion, compared with ₦266 billion recorded in 2024, underscoring strong operational efficiency, improved cost management, and resilience despite a challenging macroeconomic environment.

The near-doubling of profit reflects BUA Foods’ ability to navigate rising input costs, foreign exchange volatility, and inflationary pressures that weighed heavily on manufacturers throughout the year. Analysts note that the performance places the company among the strongest earnings growers on the Nigerian Exchange in 2025.

The company’s Q4 2025 performance further highlights this momentum. Group turnover stood at ₦383.4 billion, while gross profit came in at ₦151.5 billion, demonstrating sustained demand across its core product lines including sugar, flour, pasta, and rice.

Despite a year marked by higher operating costs across the industry, BUA Foods maintained disciplined spending. Administrative and selling expenses were kept under control relative to revenue, helping to protect margins.

Operating profit for Q4 2025 stood at ₦126.9 billion, reinforcing the company’s strong core earnings capacity. Although finance costs and foreign exchange losses remained a factor, reflecting the broader economic realities, BUA Foods still closed the period with a Net Profit Before Tax of ₦102.3 billion for the quarter.

Earnings Per Share Rise Sharply

Shareholders were among the biggest beneficiaries of the strong performance. Earnings Per Share (EPS) rose significantly, reflecting the substantial growth in net income and strengthening the company’s investment appeal.

Market watchers say the improved earnings profile could support sustained investor confidence, especially as the company continues to consolidate its leadership position in Nigeria’s food manufacturing space.

BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025

By femi Oyewale

Industry Leadership Amid Economic Headwinds

BUA Foods’ 2025 results stand out against a backdrop of currency depreciation, energy cost spikes, and logistics challenges that constrained many manufacturers. The company’s scale, backward integration strategy, and local sourcing advantages are widely seen as key contributors to its resilience.

Outlook

With a 91% year-on-year growth in PAT, BUA Foods enters 2026 on a strong footing. Analysts expect the company to remain a major driver of growth in the consumer goods sector, provided macroeconomic stability improves and cost pressures ease.

For now, the 2025 numbers send a clear signal: BUA Foods is not only growing—it is accelerating.

Business

Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards

Published

5 days ago

January 29, 2026

Sahara Weekly

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.