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Update : The four tax reform bills are not against the interest of the North and No dissolution of key federal agencies, Says Onanuga
….No plan to scrap TETFund, others
.,…Dogara, Dickson: Bill in order
Kano House kicks
Apart from refuting the claims that the bills will undermine the economy of any region, the Presidency also clarified that the reforms are designed to streamline tax administration and promote equitable economic development across the country.
The bills have scaled the second reading in the Senate. It is now at the committee stage where it will undergo public hearing.
Also yesterday, Senator Seriake Dickson and former House of Representatives Speaker Yakubu Dogara, gave reasons why the tax reform is desirable and passage of the bills is necessary at this time.
While Senator Dickson (PDP Bayelsa) is optimistic of the bills’ passage, Dogara said the bills would make the North self-reliant hence the region should support it.
Also, House of Representatives spokesman, Akin Rotimi, confirmed that member of the House of Representatives had been informed of the postponement of discussions on the tax bills. The debate ought to hold today.
He said: “The postponement is due to the need for further and broader consultations with all relevant stakeholders.”
Kano State House of Assembly yesterday kicked against the bills, calling on the National Assembly to reject them. It made this position known after its sitting.
Presidential Spokesman Bayo Onanuga also refuted claims that the bills recommended the dissolution of key federal agencies, such as the National Agency for Science and Engineering Infrastructure (NASENI), Tertiary Education Trust Fund (TETFUND), and National Information Technology Development Agency (NITDA).
Onanuga said: “Since the public debate around the transformative tax bills before the National Assembly began in the last few weeks, various political actors and commentators have tried to obfuscate the facts, deliberately misinforming and misleading the public.
“Unfortunately, most reactions are not grounded in facts, reality, or sufficient knowledge of the bills. While some commentators have attempted to incite the people against lawmakers, others have polarised one section of the country against another.
“The tax reform bills will not make Lagos or Rivers more affluent and other parts of the country, as recklessly canvassed, poorer. The bills will not destroy the economy of any section of the country. Instead, they aim to enhance the quality of life for Nigerians, especially the disadvantaged, who are trying to make a living.
“Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills.
“Government agencies, such as NASENI, TETFUND, and NITDA, are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.
“One reason President Bola Tinubu embarked on the Tax and Fiscal Policy Reforms is the need to streamline tax administration in Nigeria and make the operating environment conducive for businesses.
“For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives.
“The multiple taxes complicate the economic environment, making Nigeria uncompetitive for investment and preventing many businesses from growing or continuing their operations.
“Some companies have had to make the rational decision to relocate to other countries. We cannot continue on this path or wait for 20 years if this country is to deliver the prosperity we need for our people.
“The proposal, as contained in Section 59(3) of the Nigeria Tax Bill, only seeks to consolidate some of the earmarked taxes imposed on companies and replace them with a single tax to be shared with the key agencies as beneficiaries in a phased manner until 2030.
“The time frame offers ample opportunity for the affected agencies to explore other funding sources in addition to budgetary allocations in line with the constitution and international best practices.
“It is a misrepresentation of facts to conclude that changing an agency’s funding source amounts to scrapping it. None of the countries leading globally in education, science, engineering, or information technology have similar earmarked taxes.
“The government imposes major taxes, be it income tax, consumption tax, or other taxes, to channel resources to its areas of priority at the time. Imposing a separate tax to fund an agency is an aberration that has yet to yield results despite the huge burden on businesses. The tax bill seeks to address this problem.
“Relevant stakeholders and public analysts owe it a duty to properly educate themselves about the bills’ contents and avoid misleading the public for any reason. We may be entitled to our opinions, but such views must be informed and based on facts, not emotions targeted at inflaming passions.
“In a period like this, when our people across the country look up to leaders for guidance and direction on matters of public importance, such as the Tax Reform Bills, leaders should be more measured in their public utterances to avoid heating the polity and polarising the country unduly.
“President Tinubu welcomes the public interest these bills have generated. He encourages leaders across the country, including governors, traditional rulers, civil society activists, students, trade associations, professional associations, and the general public, to take advantage of the Public Hearings that the National Assembly will organise to present their views on how best to reform our taxes and fiscal regime.
“What is never in doubt is the imperative of changing the existing tax laws and administration that have become obsolete and unhelpful in achieving the growth and development we desire for our country”, the statement said.
National Assembly will pass bills, says Dickson
Dickson, Chairman of the Senate Committee on Ecology and Climate Change, said the opposition to the bills notwithstanding, the Senate would pass them in national interest.
He also allayed the fear in some quarters that the planned public hearing would be chaotic, if it is not postponed for further consultations.
“Those opposed to the bills should come to the public hearing with facts, if they have issues with any section of the bills.
“During the debate on the PIB, the Niger Delta leaders asked for 10% of the Operating Expenses or Expenditure (OPEX) of oil companies for host communities, but only 3% was granted.
“The late President Umaru Musa Yar’adua proposed 10% for the host communities, the National Assembly passed three per cent after about two decades without any protest.
He said: “The Senate has passed the Tax Reforms Bills for second reading. Public hearing will take place and people should get ready to present their positions. The tax bill is a law like every other law and it has to go through the normal legislative process.
“Right now, taxes from Bayelsa State are paid to Lagos State and I don’t want that to continue. When there is consumption of goods or services from any state it should be calculated and paid to that state.
Why I’m opposed to Tax Reform Bills, by Zulum
RHAN commends Senate as Tax Reform Bills scales through second reading
“Now there is an opportunity to review the tax laws, to correct the anomalies and that’s why I’m in support.“I know there are states that are feeling that when they apply the new sharing formula, they will earn less. It’s for them to raise those issues and bring the statistics. I don’t go by sentiments. I go by what is right and in the national interest.”
“Forget about uproar, there will be no uproar. Public hearing is an opportunity for people to present their matters, and nobody is going to be intimidated by uproar.
“The PIA was passed. We wanted 10%, which was what Yar’adua proposed. They (federal lawmakers) reduced it to 3%. Heaven did not fall. This tax reform bills will pass and heavens will not fall.”
Dickson spoke during an interaction with reporters at the National Assembly.
Dogara: North should accept reforms
Speaking on a national television programme last night, Dogara said: “We should remove the cap of regionalism, the cap of sectionalism, the cap of religion and put on the cap of leadership because that is what will resolve the quarrel that we have.”
He added: “I think one of the major objections is related to the issue of timing. I’ve heard this from leaders that I respect.
“But in leadership, when you talk about timing, the way I have heard them talk about is a tragic misconception of the notion of time itself because there’s nothing like the future, there’s nothing like the past,” he said.
“All we have is now. It is what you are doing now that will become your past. It is what you are doing now that will affect your future”.
“I don’t even care if it was part of the president’s agenda. All I am bothered with as a leader is: is it the right thing?”
“Secondly, I have heard about insufficient consultation. I had even heard legislators speaking as if they were spokespersons for some governors’ forum or others instead of looking at what is right, and proffering solutions.
“Now, I don’t know why he [Taiwo Oyedele), who leads the Presidential Fiscal Policy and Tax Reforms Committee and a panelist for the event] didn’t address some of these issues. But I believe in the course of our interface, he will address whether there was enough consultation with the governors.
“But I want to say this: at the state level, how many people do governors consult when they are making laws? I’m not challenging them. As a matter of fact, in some cases, state laws are written from the living rooms of governors.”
On derivation, Dogara said: “I say to them, if that is the case, let us define it.”
“I want to talk to my brothers in the North. I don’t think this is the time to begin to condemn the President and be saying that these bills are anti-North.
“So, we, as northerners, should better embrace this opportunity to build our region, and for our people to be generating wealth and building our economy.
“These bills will make us more independent and to look inwards to generate wealth.
“These bills discourage us looking at the government every time for money.
“I want to remind us that the President has done something that is significant. And in my life-time, if the President can pursue this to the end, it will mean that no Northern leader in my life-time has done what the President has done for the North. And that is the creation of the Livestock Ministry.
“There is a global business around that. The global market size of dairies, of beef in the next three years will rise to about $2.5 trillion. You can Google it. So if in the north, we are able to organize ourselves in such a way that we can corner just 5%, just 5% of this global market size of dairies and beef, I tell you that gives us $250 billion.
“We don’t need VAT from any state in Nigeria to survive. The North can survive on its own. We are the most endowed part of Nigeria.”
“We have all the resources, we can survive”, Dogara added.
Dogara, who noted that the President has done much for the North, said the claims that the bills are against the region are unfounded.
Kano House kicks
At the plenary presided over by the Speaker Isma’il Falgore, the lawmakers rejected the bills after extensive deliberation.
Majority Leader Lawan Husseini (ANPP-Dala) introduced a motion of ‘urgent public importance,’ emphasising the need for northern lawmakers and the Conference of Speakers to prevent the passage of the bills.
Husseini argued that if passed into law, the bills would not benefit the Northern States.
He condemned the Senate’s decision to approve the bills, saying, “we view it as a deliberate effort to sabotage the economy, increase hardship and further impoverishing the region.”
Husseini expressed concern over the proposed Value Added Tax (VAT) allocation system, noting that states like Lagos, where major corporations such as banks, telecommunications companies and multinational companies have their headquarters, would receive the largest share of the VAT.
“Lagos and its environs would account for 80 percent of the VAT collected in Nigeria, leaving northern states with a minimal share,” he said.
He warned that if allowed to scale through, the bill would further weaken northern states, potentially rendering some unable to pay salaries and worsening poverty and hardship.
Supporting the motion, Salisu Mohammed (APC-Doguwa) urged the upper legislative house to focus on more pressing national issues, such as attention insecurity and unemployment, instead of rushing the tax reform bills through the legislative process.
Murtala Kadage (ANPP-Garko) called for unity among lawmakers to prevent the bills from passing, for the benefit of the region.
The house called on northern members of the Senate and House of Representatives, along with the Conference of Speakers, to take a swift and decisive action to block the passage of the bills
…….GDP rose 4.43 per cent in Q2
President Bola Ahmed Tinubu yesterday assured Nigerians that his administration would intensify efforts to translate improving economic indicators into better living conditions. NigerianBusiness Directory
He declared that the economy is now on an “irreversible path” towards growth that households will feel at their dining tables and in their pockets.
The President said the Federal Government would, within the next few weeks, introduce measures targeted at vulnerable Nigerians, including cheaper means of transportation, increased food production and relief programmes designed to directly reach people at the grassroots.
Tinubu gave the assurances in his reaction to the latest Gross Domestic Product (GDP) figures released yesterday by the National Bureau of Statistics (NBS).
The report shows that the Nigerian economy grew by 4.43 per cent in the second quarter of 2026, compared with 4.23 per cent recorded in the corresponding quarter of 2025. NigerianBusiness Directory
The President welcomed the figures as further evidence that the economic reforms undertaken by his administration since May 2023 were yielding results, according to a statement by his spokesman, Bayo Onanuga.
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“Under our watch, the economy is on the irreversible path to experience even more growth that all homes will feel at the dining table and in their pockets. We are not resting on our oars.
“We are fully committed to translating consistent, stronger economic performance into better microeconomic outcomes for our citizens. We must stay vigilant by ensuring the sustainable progress we are recording remains irreversible,” Tinubu said.
According to the NBS report, growth was recorded across agriculture, manufacturing, oil and gas, and services, with the services sector maintaining its position as the largest contributor to aggregate GDP.
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In nominal terms, Nigeria’s aggregate GDP rose to N119.27 trillion in the second quarter, representing an 18.43 per cent increase from the N100.7 trillion recorded in the corresponding period of 2025.
Tinubu said his administration had spent the past three years taking difficult decisions necessary to stabilise the economy.
“In the past three years, we tried to do the hard part by implementing the necessary reforms to stabilise the economy.
“Now the economy is stabilised, and we have laid the foundation for a prosperous nation. We didn’t do the reforms to create challenges, but to ensure prosperity reaches all our people,” he said.
The President said the latest growth figures were among a series of indicators showing that his Renewed Hope Agenda was working, pointing to improvements in the country’s external reserves, trade position, credit ratings, infrastructure development and oil and gas production.
“The results of the efforts are becoming very clear to all: The Renewed Hope Agenda is working. Because of those tough decisions, today Nigeria has trade surpluses. Our foreign reserves are at their highest in 17 years. Our credit rating has moved up several notches.
“We are building roads, railways and superhighways that will last for a long time. Investors who left are returning. Oil and gas production is increasing,” Tinubu said.
He also cited developments in the education sector as evidence of progress, saying Nigerian universities had enjoyed stability while the Nigerian Education Loan Fund (NELFUND) was expanding access to tertiary education.
“And in our universities, for the first time in a long time, there are no strikes. Our children are in class. And through NELFUND, student loans are putting education within reach, and affordable credit is going to our civil servants through Creditcorp,” he said.
The President said the next phase of the administration’s intervention would place greater emphasis on alleviating pressures confronting vulnerable Nigerians and ensuring that improving macroeconomic indicators translate into tangible benefits. NigerianBusiness Directory
“In the next few weeks, we are addressing some of the challenges being faced by our vulnerable population by providing cheaper means of transport, ramping up food production and implementing various relief programmes that will touch lives at the grassroots,” he said.
Tinubu also took a swipe at the opposition, saying the latest economic figures had come at a time when opposition elements were attempting to diminish the achievements of his administration and promising to reverse some of its reforms if elected.
He maintained that the policies undertaken since the beginning of his administration were not intended to impose hardship on Nigerians, but to correct structural weaknesses and create the foundation for sustainable prosperity. NigerianBusiness Directory
The President pledged that his administration would remain focused on consolidating the gains recorded so far.
Economy expands further on broad-based growth across sectors
The NBS report, which shows 4.43 per cent growth in the second quarter, indicates that the growth outperformed both the first quarter of 2026 and the corresponding second quarter of 2025.
The report highlighted a broad-based economic expansion driven by significant improvements in the agricultural segment, non-oil sector, services and sustained growth in the oil sector.
The agricultural sector almost doubled its performance, with a growth of 4.39 per cent in the second quarter of 2026 compared with 2.82 per cent in the corresponding period of 2025.
The non-oil sector, which accounted for about 96 per cent of the economy, grew by 67 basis points to 4.31 per cent in the second quarter of 2026, compared with 3.64 per cent recorded in the second quarter of 2025. Non-oil sector growth was 3.94 per cent in the first quarter of 2026.
Non-oil sector performance was driven by growth across various segments, including crop production, telecommunications, real estate, trade, financial institutions, cement manufacturing and construction, among others.
The oil sector grew by 7.31 per cent in the second quarter of 2026, higher than the 2.57 per cent recorded in the first quarter of 2026, but lower than the 20.46 per cent recorded in the second quarter of 2025.
The industrial sector also grew by 3.96 per cent in the second quarter of 2026, as against 7.46 per cent recorded in the comparative period of 2025.
Average daily crude oil production rose to 1.72 million barrels per day (mbpd) in the second quarter of 2026, outperforming both the preceding quarter and the comparable period of 2025.
Crude production in the second quarter of 2026 was the highest since 2022. Oil production stood at 1.68 mbpd in the second quarter of 2025 and 1.55 mbpd in the first quarter of 2026.
The oil sector thus contributed 4.16 per cent to total real GDP in the second quarter of 2026, a sustained improvement on the 4.05 per cent recorded in the corresponding period of 2025 and 3.92 per cent recorded in the first quarter of 2026.
In nominal terms, total GDP rose by 18.43 per cent from N100.73 trillion in the second quarter of 2025 to N119.29 trillion in the second quarter of 2026.
In terms of GDP share, the services sector remained the dominant driver, contributing 56.62 per cent to aggregate GDP in the second quarter of 2026, as against 56.53 per cent recorded in the comparable period of 2025.
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The non-oil sector contributed 95.84 per cent to aggregate real GDP in the second quarter of 2026, as against 95.95 per cent in the second quarter of 2025 and 96.08 per cent in the first quarter of 2026.
Experts were unanimous that the latest GDP report showed a positive outlook for the economy.
Analysts at SCM Capital stated that the second-quarter 2026 GDP report underlined improved macroeconomic conditions and broad-based policy support, which have continued to anchor economic performance.
They said the report showed broad-based resilience, with an uptick in oil output reflecting gradual operational improvements and sustained field activity across major production basins, alongside a non-oil sector gaining stronger momentum.
Analysts at Coronation Group and Cordros Capital Group stated that the GDP performance outpaced their expectations, noting that the economy had shown resilience and steady growth.
sustained economic resilience, with growth anchored by the services sector alongside gradual improvement across non-oil activities.
“The outturn affirms our broader expectation of a steady, non-oil-led growth trajectory through the rest of the year,” Coronation Group stated.
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Update : NRC Releases Preliminary Report on Warri-Itakpe Train Crash, Says Wheel Defect May Have Triggered Derailment
……NRC Suspects Wheel Defect, Rules Out Track Vandalism
The Nigerian Railway Corporation (NRC) has released its preliminary report on the June 8, 2026 derailment involving the Warri–Itakpe Train Service (WITS), revealing that a possible sudden bogie or wheel defect may have triggered the accident.
The incident occurred at about 4:17pm near the Outer Home signal of the Goodluck Jonathan Railway Station at kilometre 177, Owa-Oyibu, Agbor, Delta State.
According to the NRC, the train had departed Itakpe at 12 noon with 482 people on board, comprising 442 passengers and 40 operational personnel, when the derailment occurred.
Five coaches, one locomotive and a power car were affected, with three coaches and the power car overturning.
The Corporation said emergency response operations were immediately activated with support from the Delta State Government, the Nigeria Police Force, Federal Road Safety Corps (FRSC), National Emergency Management Agency (NEMA), local authorities and medical teams.
All passengers were evacuated within two hours of the incident.
However, the accident resulted in four confirmed deaths — three adults and one child — while 64 people sustained various injuries.
The NRC said 28 injured passengers were treated and discharged at the Railway Hospital, Owa-Oyibu, while another 36 were transferred to hospitals in Owa-Oyibu, Owa-Alero and Agbor.
Most of those admitted were discharged within 72 hours, while three people, including an NRC employee who required surgery, remained under specialist medical care. Two of the affected persons subsequently underwent surgical procedures.
The Corporation also clarified that its initial report of five fatalities was later revised to four following verification with the Delta State medical team responsible for the deceased.
Possible wheel defect identified
The NRC said its internal investigation involved site inspections, evidence gathering, examination of operational records and communication data, technical assessments of the locomotive and rolling stock, as well as interviews with train crew, operations and maintenance personnel, witnesses and emergency responders.
The investigation also examined the track infrastructure, turnout arrangements, communication systems and the effectiveness of the emergency response and evacuation operations.
Based on the preliminary findings, the NRC said investigators identified the possible sudden development of a bogie/wheel defect while the train was in motion as a potential primary factor in the derailment.
According to the Corporation, such a defect could have resulted in abnormal wheel-rail interaction, excessive impact loading and loss of running stability.
The investigators also identified the possible manner in which the train’s brakes were applied as a factor that may have contributed to the severity of the accident.
However, the NRC stressed that both issues remain working hypotheses and that the definitive cause of the derailment would only be established after further technical analysis.
No evidence of track vandalism
The Corporation said its inquiry team found that the railway points at the accident location were intact and that there was no evidence of track vandalism.
This finding distinguishes the June 8 incident from two previous accidents involving the same Warri–Itakpe service on November 1 and November 8, 2025, which the NRC said were attributed to track vandalism.
The independent Nigerian Safety Investigation Bureau (NSIB) has also commenced its statutory investigation into the accident.
The NRC said it was cooperating fully with the NSIB and would be guided by the findings and recommendations contained in its final report.
NRC announces safety measures
Following the preliminary findings, the Corporation recommended comprehensive safety inspections and audits of rolling stock, railway tracks and infrastructure before equipment is returned to service.
It also called for stronger maintenance and condition-monitoring programmes, timely replacement of defective components and improved availability of critical spare parts.
The NRC further recommended a review of operational safety procedures, improved emergency preparedness and rescue capabilities, enhanced staff training and competency assessments, as well as sustainable funding for railway modernisation.
The Corporation also proposed improvements to its insurance and compensation framework to ensure adequate protection for passengers and staff in cases involving medical treatment, disability and fatalities.
WITS service yet to resume
The NRC said the affected track has been fully recovered and restored, while the locomotives involved have also been recovered and are currently undergoing reconditioning.
However, the Corporation said the Warri–Itakpe service would not resume until a detailed safety audit of the track and equipment has been completed.
The NRC expressed condolences to the families of those who lost their lives in the incident and apologised for the delay in releasing the preliminary report, explaining that additional time was required to properly verify the casualties and notify the affected families.
The Corporation said it remained committed to implementing recommendations arising from both its internal accident inquiry and the independent NSIB investigation, with the aim of strengthening railway safety and restoring public confidence in train transportation.
I’m
Veteran Yoruba actor Taiwo Hassan, popularly known as Ogogo, has died at 66.
His daughter, Kira Taiwo, confirmed his passing during an Instagram Live session on Sunday.
The news comes days after Kira and her sister, Lima Taiwo, made public appeals on Monday, August 17, 2026, for medical advice for their father, who was battling stage-four cancer.
Kira said doctors had stopped chemotherapy because of his condition, and the family was seeking alternative treatments, including specialised procedures and traditional remedies.
She clarified that the family was not asking for financial donations, but for information on possible treatment options.
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