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TINUBU SIGNS LANDMARK TAX REFORMS INTO LAW, SETS NIGERIA ON THE PATH TO A $1 TRILLION ECONOMY

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By Prince Adeyemi Aseperi-Shonibare
Public Analyst and APC Member

In a bold and defining move poised to reshape Nigeria’s economic trajectory, President Bola Ahmed Tinubu has signed into law four far-reaching tax bills passed by the National Assembly. The reforms mark the most ambitious overhaul of Nigeria’s tax system in over half a century, aimed squarely at strengthening government revenue, stimulating private sector growth, and positioning Africa’s largest economy to achieve its target of becoming a $1 trillion economy by 2030.

At a formal signing ceremony held at the State House on Thursday, the President declared that the new laws signal a new lease of life for the country’s economy and its people. “We are in transit; we have changed the roads. We have changed some of the misgivings. We have opened the doors to a new economy and new opportunities,” Tinubu said.

The four tax laws are:

1. Nigeria Tax Bill (Ease of Doing Business)

2. Nigeria Tax Administration Bill

3. Nigeria Revenue Service (Establishment) Bill

4. Joint Revenue Board (Establishment) Bill

 

The reform package is the culmination of intense policy work led by the Presidential Committee on Fiscal Policy and Tax Reforms, chaired by renowned fiscal expert Mr. Taiwo Oyedele. The initiative aims to eliminate redundant taxes, unify tax administration across all levels of government, digitalize collection systems, and promote equity through progressive tax structures.

WHAT THE NEW TAX LAWS ENTAIL

The Nigeria Tax Bill consolidates all fragmented and conflicting tax statutes into a harmonized code. It retains the current 7.5% VAT rate, introduces progressive personal income tax brackets (0% for minimum-wage earners, up to 25% for ultra-high-income earners), and eliminates tax burdens on NGOs, compensation for injury, and low-earning digital entrepreneurs. A 4% development levy on corporate profits will fund student loans and infrastructure through the Nigeria Education Loan Fund.

The Nigeria Tax Administration Bill standardizes tax operations at federal, state, and local government levels. It mandates joint audits, integrated taxpayer databases, and digital monthly filings for high-risk sectors like international shipping and aviation. Penalties are now streamlined to reduce arbitrariness and corruption.

The Nigeria Revenue Service (Establishment) Bill replaces the Federal Inland Revenue Service (FIRS) with the Nigeria Revenue Service (NRS)—a fully autonomous national revenue authority with enhanced powers to manage all public revenues including taxes, oil royalties, and levies from over 100 agencies. The new agency is performance-based and digitally driven.

The Joint Revenue Board Bill institutionalizes federal-state-local government collaboration. It enables shared infrastructure, technology, and dispute resolution frameworks. A national Tax Appeal Tribunal and Tax Ombudsman will be established to ensure fairness and justice for taxpayers.

WIN ,WIN ,SITUATION FOR ALL

For state governments, these reforms are a game changer. States will now retain 30% of VAT generated within their jurisdiction, receive 50% equal-share distribution, and 20% based on population. With streamlined processes and digital tax integration, states are now empowered to grow their internally generated revenue (IGR) sustainably and reduce reliance on federal allocation.

For the federal government, the reforms boost non-oil revenue, cut wasteful duplication among MDAs, and raise Nigeria’s tax-to-GDP ratio from a low 10.8% toward the continental benchmark of 18%. This reduces the fiscal deficit and strengthens Nigeria’s standing in global capital markets.

For corporate organizations and SMEs, the reforms bring clarity and predictability. Businesses with under ₦50 million turnover will enjoy 0% corporate tax. VAT input claims are now standardized, compliance processes are digital, and there are tax reliefs for investments in education, infrastructure, and agriculture.

For citizens, especially low-income earners, the progressive income tax brackets mean more disposable income. Compensation for injury or trauma under ₦50 million is now tax-exempt. Digital access to tax filing, reduced harassment, and better service delivery are built into the new tax ecosystem.

For international investors and development partners, the unified tax framework offers legal certainty, ease of compliance, and compatibility with global standards. The reforms also align Nigeria with the OECD’s global minimum tax requirements for multinational corporations.

IMPACT ON ECONOMIC DEVELOPMENT AND THE $1 TRILLION GDP AMBITION

According to the World Bank’s 2024 Nigeria Development Update, Nigeria’s path to a $1 trillion economy by 2030 hinges on structural reforms, public investment, and fiscal discipline. These tax laws directly address those imperatives.

“Revenues are surging… The ultimate purpose here is jobs and opportunities,” said Alex Sienaert, the World Bank’s lead economist for Nigeria. The World Bank estimates that with effective reform implementation, Nigeria’s GDP could double over the next five years, fueled by non-oil growth in agriculture, services, and manufacturing.

The IMF also praised Nigeria’s fiscal efforts. IMF Managing Director Kristalina Georgieva noted, “It’s been really good to see the government taking these head on… expanding social protection to target the most vulnerable.” This fiscal consolidation—combined with subsidy removal, FX reforms, and targeted social programs—has significantly improved Nigeria’s credit outlook.

International confidence is rising. Nigeria is in talks to rejoin JPMorgan’s Emerging Market Government Bond Index, signalling renewed foreign investor interest. Morgan Stanley analysts predict that Tinubu’s policy reforms “could fuel economic growth and the rise of a mass consumer market.”

Brazil’s recent $1 billion agricultural agreement with Nigeria is another strong vote of confidence. With new revenue, the government can expand infrastructure, digitize public services, and fund large-scale investments in power, transport, and education.

ECONOMIC ANALYSIS OF THE REFORMS

Dr. Bismarck Rewane described the reforms as “the first serious attempt in over 30 years to treat taxation as a tool for national development, rather than merely a channel for revenue collection.”

Dr. Sarah Alade observed: “The harmonization under this bill will reduce friction and stimulate business growth, especially in the SME space.”

Professor Ode Ojowu emphasized that “progressive taxation reflects redistributive justice. That is good economics and better politics.”

Ifueko Omoigui Okauru stated: “Establishing a performance-based NRS is long overdue. Autonomy breeds accountability.”

Professor Akpan Ekpo said: “This bill introduces structure and predictability, which are critical for investor confidence.”

Dr. Andrew Nevin noted: “Joint audits and unified data are powerful tools to expand the tax net without raising rates.”

Eze Onyekpere called the Joint Revenue Board “the administrative glue that binds the reform.”

Alex Sienaert concluded: “If implemented with discipline, these reforms could raise Nigeria’s tax-to-GDP ratio by five to seven percentage points.”

Kristalina Georgieva added: “This is comprehensive, courageous, and overdue.”

A PRESIDENTIAL LEGACY IN THE MAKING

Taiwo Oyedele remarked: “History will remember you for good for transforming our country.”

Dr. Zacch Adedeji described the signing as “the happiest day of my professional life.”

Senate President Godswill Akpabio said: “You have birthed a tax system that will last for generations.”

CONCLUSION

President Tinubu’s tax reforms are not just fiscal adjustments—they are a foundational blueprint for Nigeria’s economic rebirth. By prioritizing fairness, efficiency, and inclusivity, these laws aim to build trust in government, empower states, attract global capital, and enable Nigeria to take its rightful place as an emerging economic powerhouse.

However, these reforms must not remain locked away in government files or limited to elite policy circles. The federal and state governments must commit to sustained public sensitization—through town halls, multilingual roadshows, traditional and social media, and engagement with business associations, community leaders, religious institutions, and market unions. Citizens need to understand what has changed, how it affects them, and how to comply. Only through nationwide enlightenment can the spirit of these reforms be translated into real progress.

If implementation stays consistent and inclusive communication follows, Nigeria’s dream of a $1 trillion economy by 2030 will not only be possible, but inevitable.

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Olowu Celebrates Former Military President, Ibrahim Babangida, At 84

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Olowu Celebrates Former Military President, Ibrahim Babangida, At 84

Olowu Celebrates Former Military President, Ibrahim Babangida, At 84

 

Olowu of Kuta, HRM Oba Dr Hammed Oyelude Makama, CON, Tegbosun III, has congratulated former military president, Gen Ibrahim Badamasi Babangida, rtd, who is 84 today.

Olowu Celebrates Former Military President, Ibrahim Babangida, At 84

Olowu, in a statement he signed, eulogised the former military ruler for his modest achievements while he was in power.

 

According to Olowu, ” IBB is an enigma. He has carved a niche for himself as a former military president. His tenure witnessed the completion of many monumental legacy projects that are still visible today. His Hill Top Mansion in Minna has become a Mecca of sorts for those who aspired to lead Nigeria.”
Olowu, who described Gen Babangida as being grossly misunderstood, said history would be kind to him.

 

He said, “The launch of Gen Babangida’s Autobiography: ‘A Journey In Service’, and the testimonies from the likes of President Bola Ahmed Tinubu and Africa’s richest man, Aliko Dangote, Tony Elumelu, Jim Ovia, Abdusalam Rabiu, Oil Magnate, Arthur Eze, and many others, testified to his goodwill despite leaving public office three decades ago.

” On behalf of myself, my Oloris and Olowu-In-Council.

All members of the defunct IBB Vision 2003 and Vision 2007, I wish President Ibrahim Babangida, rtd, a happy birthday. I also wish him all the best as he aged gracefully,” Olowu added.

 

Born on August 17, 1941, Gen Ibrahim Babangida, rtd, ruled Nigeria from 1985 to 1993.

 

His presidency was marked by significant political and economic reforms.

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HRH Oba Isiaka Babatunde Malik Adekeye Ascends the Throne of Agunjin Land

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A new dawn breaks over Agunjin — a moment etched in gold in the annals of history — as the crown of the Ariwajoye Adekeye Royal Dynasty returns to its rightful home. With this homecoming, the living legacy of Agunjin’s royal heritage is renewed, strengthened, and destined to shine for generations to come.

The proud sons and daughters of Agunjin welcome His Royal Highness, Oba Isiaka Babatunde Malik Adekeye, Ariwajoye III of Agunjin Land, with joy, reverence, and boundless hope for the future.

A distinguished Nigerian based in New York, Oba Adekeye is a dynamic and accomplished professional whose illustrious career spans cinematography, international trade, and hospitality. Born into the revered Ariwajoye Adekeye Royal Family of Agunjin, in Ifelodun Local Government Area of Kwara State, His Royal Highness now carries forward an ancestral legacy steeped in honor, dignity, and purpose.

The new Oba Adekeye is the proud nephew of the late Oba Jimoh Ajide Adekeye and the grandson of Oba Alade Adekeye — custodians of Agunjin’s noble traditions whose names remain deeply woven into the history of the land.
As the Yoruba say,
“Adé kì í wọ́ lórí aláìní orí.” — The crown does not rest on a head without destiny.”
His Royal Highness wears the crown not as a mere ornament, but as a solemn trust from his ancestors to his people.

The Adekeye Royal Family extends profound gratitude to: His Excellency, H.E.AbdulRahman AbdulRazaq, CON, Chaiman GFON, Sadauna Ngeri of Ilorin, Executive Governor of Kwara State; The Chairman, Kwara State Council of Chiefs, Alhaji (Dr.) Ibrahim Sulu-Gambari, Emir of Ilorin; The Chairman, Igbomina Traditional Rulers Forum, Oba (Barr.) Alh. Ismail Bolaji Yahaya Atoloye Alebiosu, Olupo of Ajase Ipo; The Chairman, Ifelodun Traditional Council, HRM Oba (Dr.) Alhaji Ahmed Awuni Babalola Arepo III, Elese of Igbaja; The Ifelodun Traditional Council Members and the Kwara State Traditional Council.

Our heartfelt appreciation also goes to the Hon. Commissioner for Local Government, Chieftaincy Affairs and Community Development, Hon. Abdullahi Bata, and to the Executive Chairman, Ifelodun LGA, Hon. Femi Yusuf, for their steadfast commitment to upholding historical truths and safeguarding the cherished traditions of Agunjin.

As the newly crowned Ariwajoye III, Oba Adekeye brings decades of professionalism, global exposure, and deep cultural pride to his reign. His vision is noble and unwavering — to champion sustainable development across the Agunjin district, preserve the rich traditions of the land, and unite his people both at home and in the diaspora under one banner of progress, peace, and pride.
In the words of an old royal proverb, “When the king builds bridges, the people will cross to a better tomorrow.” Ariwajoye III now stands as that bridge — connecting the heritage of the past with the promise of the future.

Long live Ariwajoye III. Long live the Ariwajoye Adekeye Royal Family. Long live Agunjin Land.

Prince Oluwatoyin Adekeye For the Family

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From Ejigbo to the World: How Primate Ayodele’s Prophecies Shape Public Debate

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The Man Who Makes Nigeria Listen — Primate Elijah Ayodele’s Prophetic Influence

Primate ELIJAH AYODELE: The Seer, And the Country That Listens

By Femi Oyewale

Ejigbo, Lagos — When Primate Babatunde Elijah Ayodele steps onto the pulpit of INRI Evangelical Spiritual Church each week, he does more than preach: he convenes a national conversation. For decades, the clergy has issued blunt, often headline-grabbing prophecies about presidents, markets, and disasters — pronouncements that are dutifully copied, debated, and digested across Nigerian newsrooms, social media, and political corridors.

 

The Man Who Makes Nigeria Listen — Primate Elijah Ayodele’s Prophetic Influence

 

Primate Ayodele is best known for two things: the regular release of New Year’s and seasonal “warnings to the nation,” and a large, loyal following that amplifies those warnings into national discourse. He publishes annual prophecy booklets, holds prayer mountain conventions where journalists are invited, and maintains active social media channels that spread his messages quickly beyond his church gates. In July 2025, he launched a compendium of his prophecies titled “Warnings to the Nations,” an event covered by national outlets, which Ayodele used to restate concerns about security, governance, and international affairs.

 

Ayodele’s prophecies have touched on lightning-rod topics: election outcomes, the health or fate of public figures, infrastructure failures, and international crises. Nigerian and regional press have repeatedly published lists of his “fulfilled” predictions — from political upsets to tragic accidents — and his followers point to these as proof of his accuracy. Media roundups in recent years credited him with dozens of prophecies he argued had been realised in 2023 and 2024, and his annual prophetic rollouts continue to attract wide attention.

 

Impact beyond prediction: politics, policy, and public mood

The practical effect of Ayodele’s ministry is not limited to whether a prophecy comes to pass. In Nigeria’s politicised and religiously engaged public sphere, a prominent seer can:

• Move conversations in electoral seasons; politicians, commentators, and voters listen when he names likely winners or warns about risks to candidates, and his claims sometimes become part of campaign narratives.

• Shape popular expectations — warnings about economic hardship, insecurity, ty or public health influence how congregations and communities prepare and react.

 

• Exert soft pressure on leaders — high-profile admonitions directed at governors or ministers often prompt responses from the accused or their allies, creating a feedback loop between pulpit pronouncements and political actors.

 

Philanthropy and institution building

Ayodele’s public profile extends into philanthropy and church development. He runs INRI Evangelical Spiritual Church from Oke-Afa, Lagos, and his ministry periodically organises humanitarian outreach, scholarships, and hospital visits — activities he frames as evidence that prophetic ministry must be accompanied by concrete acts of charity. Church events such as extended “17-day appreciation” outreaches and scholarship programmes have been widely reported and help cement his appeal among congregants who value spiritual counsel paired with material support.

 

What makes him unique

Several features set Ayodele apart from other public religious figures in Nigeria:

1. Productivity and documentation. He releases extensive, numbered lists of prophecies and compiles them into booklets — a tactic that makes his predictions easy to track (and for supporters to tally as “fulfilled”).

2. A blend of national and international focus. His pronouncements frequently move beyond parochial concerns to name international actors and events, which broadens his media footprint.

3. Media-savvy presentation. From staged press events to active social accounts, Ayodele understands how to turn a prophecy into a viral story that will be picked up by blogs, newspapers, and TV.

 

The public verdict: faith, influence, and skepticism

To millions of Nigerians — and to his core following — Primate Ayodele remains a pastor-prophet whose warnings must be taken seriously. To others, he is a media personality whose relevance depends as much on spectacle and circulatory power as on supernatural insight. What is indisputable is his role in magnifying the religious dimension of national life: when he speaks, politicians, congregants, and newsrooms listen. That attention, in turn, helps determine which social and political questions become urgent in public debate.

Looking ahead

As Nigeria heads into another cycle of elections and economic challenges, Ayodele’s annual pronouncements will almost certainly return to the front pages. Whether they are read as sober warnings, political interventions, or performative theology, they will continue to shape conversations about destiny, leadership, and the kinds of risks a deeply religious nation believes it must prepare for.

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