Business
‘Power situation in Nigeria is no longer a laughing matter’ – Pres. Buhari
President Mohammadu Buhari on Monday woke up to the realities of epileptic power supply in Nigeria, saying that the situation was no longer funny. Should the situation persists; the president said it would seriously affect the change agenda of the present administration. The president said his administration must do everything necessary to increase power generation and distribution from its present status of about 1,500 to 3,500 megawatts with additional 2,000 before the end of the year as a way of halting the ripple effects on the economy. But giving high hopes on the power sector, the president stated that before his government winds up in 2019, he would achieve a historic 10,000 megawatts of electricity. The promise was contained in a keynote address which he presented at the opening ceremony of a two day summit of the National Economic Council, NEC, in Abuja. The president who noted the theme of the summit: Nigerian States: Multiple Centers of Prosperity was apt, had identified five key areas such agriculture, power, manufacturing, housing and healthcare as challenges the Council must prioritize. President Buhari also expressed misgivings over the privatization of the power sector in the country, saying that the process was more profit oriented than a thing of public interest. He stated that the sector was yet to show the gains of the privatization Programme as quality of service was still in a sorry state. But being an ongoing process, the president said that it must be completed. He said: “Nigerians’ favourite talking point and butt of jokes is the power situation in our country. But, ladies and gentlemen, it is no longer a laughing matter. We must and by the grace of God we will put things right. In the three years left for this administration we have given ourselves the target of ten thousand megawatts distributable power. In 2016 alone, we intend to add two thousand megawatts to the national grid. “This sector has been privatized but has yet to show any improvement in the quality of service. Common public complaints are: Constant power cuts destroying economic activity and affecting quality of life, High electricity bills despite power cuts, Low supply of gas to power plants due to vandalization by terrorists, Obsolete power distribution equipment such as transformers, Power fluctuations, which damage manufacturing equipment and household appliances, Low voltage which cannot run industrial machinery. “These are some of the problems, which defied successive governments. In our determination to change we must and will, insha Allah, put a stop to power shortages. “Key points to look at here are: Privatization. We are facing the classic dilemma of privatization: Public interest Vs Profit Motive. Having started, we must complete the process. But National Electricity Regulatory Commission (NERC), the regulatory authority, has a vital job to ensure consumers get value for money and over-all public interest is safe-guarded. “Government to fast-track completion of pipelines from Gas points to power stations and provide more security to protect gas and oil pipelines. “Power companies should be encouraged to replace obsolete equipment and improve the quality of service and technicians.” On agriculture, president noted with dismay the high cost of food items, saying that government must play active role in achieving food production and self sufficiency. He also observed that the commercial banks had no meaningful credit facilities for the agriculture sector, asking them to increase their lending to the sector. He said “On Agriculture today, both the peasant and the mechanized farmers agree with the general public that food production and self-sufficiency require urgent government action. For too long government policies on agriculture have been half-hearted, suffering from inconsistencies and discontinuities. “Yet our real wealth is in farming, livestock, hatcheries, fishery, horticulture and forestry. From the information available to me the issues worrying the public today are: Rising food prices, such as maize, corn, rice and gari, Lack of visible impact of government presence on agriculture, Lack of agricultural inputs at affordable prices. Cost of fertilizers, pesticide and labour compound the problems of farming. Extension services are virtually absent in several states. “Imports of subsidized food products such as rice and poultry discourage the growth of domestic agriculture. “Wastage of locally grown foods, notably fruit and vegetables which go bad due to lack of even moderate scale agro-processing factories and lack of feeder roads. “These problems I have enumerated are by no means exhaustive and some of the solutions I am putting forward are not necessarily the final word on our agricultural reform objectives: “First, we need to carry the public with us for new initiatives. Accordingly the Federal Ministry of Agriculture in collaboration with the States should convene early meetings of stakeholders and identify issues with a view to addressing them. “Inform the public in all print and electronic media on government efforts to increase local food production to dampen escalating food prices. “Banks should be leaned upon to substantially increase their lending to the agricultural sector. Central Bank of Nigeria (CBN) should bear part of the risk of such loans as a matter of national policy. “States should increase their financial support through community groups. The appropriate approach should be through leaders of community groups such as farmers cooperatives. “Provision of feeder roads by state governments to enable more effective evacuation of produce to markets and processing factories.” Speaking on manufacturing, president Buhari felt grieved that many industries were having the challenges of accessing foreign exchange to buy their raw materials. Noting that the situation was a phase however, he also identified Inadequate infrastructure such as Power, Roads, Security, high cost of borrowing money, lack of long term funding as factors militating against manufacturing in Nigeria. As a way of surmounting the problems, president Buhari made some recommendations. “The infrastructure Development Fund should be fast-tracked to unlock resources so that infrastructural deficiencies can be addressed. “There should be more fiscal incentives for Small and Medium Enterprises (SMEs), which prove themselves capable of manufacturing quality products good enough for export. “Central Bank of Nigeria (CBN) should create more incentives and ease credit terms for lending to manufacturers. “A fresh campaign to patronize Made-in-Nigeria goods should be launched. Example: all uniforms in government-sponsored institutions should be sourced from local factories”, he said. On housing, president Buhari said that there was housing deficit in Nigeria. According to him, the plan by his party, the All progressives Congress, APC to build 250 housing units might not be realized. He said: “Some estimates put Nigeria’s housing deficit at about sixteen million units. In our successful campaign to win the general elections last year our party, the APC, promised to build a million housing units a year. This will turn out to be a very tall order unless: “The Federal Government builds two hundred and fifty thousand units. The 22 APC States together manage another two hundred and fifty thousand units. “We invite foreign investors together with local domiciled big construction companies to enter into commercial housing building to pick up the rest.” The president also noted that “Severe shortage of housing, High rents, Unaffordable prices for prospective buyers especially middle and low-income earners”, in addition to “red tape, corruption and plain public service inefficiency lead to long delays in obtaining ownership of title documents”, amongst others were the huddles faced in actualizing meaningful housing scheme for all. President Buhari while speaking health as prerequisite for economic development, revealed that a whooping sum of $1 billion was been spent by Nigerians for medical treatment abroad on Healy basis. He said “In my inauguration speech last May, I remarked that the whole field of Medicare in our country needed government attention. Dirty hospitals! (Few sights are more upsetting than a dirty hospital), inadequate equipment, poorly trained nursing staff, overcrowding. The litany of shortcomings is almost endless. “Sound health system is part of the prerequisites for economic development. Nigerians travel abroad, spending an estimated One Billion US Dollars annually to get medical treatment. Despite huge oil revenues the nation’s health sector remains undeveloped”. In attacking the challenges of the sector, the president stated that there should be more funding for health centres to improve service delivery. According to him, the “World Bank and World Health Organization (WHO) could be persuaded to increase their assistance”. He also stated that a public health propaganda should be strengthened on Environmental sanitation, smoking, Better dieting, Exercising”. This was even as he charged the National Agency for Food, Drug, Administration and Control, NAFDAC, to intensify campaign against fake drugs. “NAFDAC should intensify efforts on reducing or stopping circulation of fake drugs in Nigeria. Ministry of Health should work closely with the Nigerian Medical Association to ensure that unqualified people are not allowed to practice”, he said Meanwhile, the Vice President Yemi Osinabjo who chaired the summit and the chairman of Nigerian Governors forum and governor of Zamfara state, Abdulazz Yari who also spoke at the opening ceremony underscored the need for prioritization in the light of dwindling oil prices in the international market. The summit had all the serving ministers as well as the 36 Nigerian State governors as participants.
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.
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
Business6 months agoBatsumi Travel CEO Lisa Sebogodi Wins Prestigious Africa Travel 100 Women Award
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING
You must be logged in to post a comment Login