News

Ibadan Explosion: How Oyo Oba Escaped Death

Published

1 year ago

January 20, 2024

What appeared like a little misunderstanding between an Ibadan Oba and his wife later turned out to be a victory song for them following an explosion that rocked Ibadan, the Oyo state capital last Tuesday .

It claimed some lives and several property. Governor Seyi Makinde, who visited the scene of the explosion confirmed that illegal miners who stored explosive devices in their houses were responsible for the explosion. A relation of the Oba, Mr Akerele Alabi Ogun who narrated the king’s story to Saturday Vanguard said, “before the unpleasant explosion on Tuesday, the wife of one of the Obas crowned by the Olubadan, had prepared rice for dinner, expecting her husband to arrive home. But, when the Oba arrived home, he disappointed his wife who had prepared a delicious meal of rice and tasty stew for him by saying he didn’t want rice but would prefer beans instead.

“Both the Oba and the wife dragged the issue for a long time. The wife who is aged reportedly appealed to him saying, ‘please manage this rice for tonight, it will be a little bit late for me to be preparing beans now’. This still didn’t go down well with the Oba who insisted on having his request obeyed. The wife, not wanting to annoy her husband then agreed to cook beans and they were both sitting in the living room”.

“When the beans was half done, the Oba had started dozing off but the wife managed to keep him awake by engaging him in discussion and requested for more time for the beans to be done. But when the Oba could no longer keep himself awake, he told his wife he was going to bed and would not eat again. The wife bluntly refused, complaining why he would make her suffer for nothing despite the fact that she advised against cooking beans.

“She then said she would never allow the Oba to go to bed without eating the beans she had taken pains to prepare. As they were dragging this, there was a deafening blast which sent them to different directions. Both however managed to escape.

“When the dust settled, it was later discovered that a very large broken concrete had fallen on the same bed the Oba was to have slept on if his wife had not fought to stop him from going to bed. It then dawned on them that the insistence of the wife to ensure that her husband did not go to bed had saved his life”.

Mr Ogun, however, did not disclose the name of the Oba who is one of the Obas within the 11 local government areas of Ibadan. He said, “I was not granted permission to share the story but I think no harm has been done since I didn’t mention the Oba’s name or his local government”.

The Oba is said to be preparing for a special thanksgiving to appreciate God for sparing his life.

PDP Governors condole govt, people of Oyo

Meanwhile, the Peoples Democratic Party Governors’ Forum (PDP-GF), under the Chairmanship of Senator Bala Mohammed, the Governor of Bauchi State, has extended its heartfelt sympathy to the government and people of Oyo State over the explosion in Ibadan, the state capital which led to loss of lives and destruction of property. This was contained in a statement signed by the Director General of the PDPGF, Hon. C.I.D. Maduabum, in Abuja, on Friday.

The governors described loss of lives and property as a result of the incident as regrettable.

They said, “The Forum is saddened by this painful loss, impacting not only the Government and the people of Oyo State but also the entire country. “Our heartfelt condolences go to the families of victims who lost their beloved ones, and we pray that all who sustained various levels of injuries would have a speedy recovery.

“We commend Gov. Makinde’s swift response to the incident and are confident that he will deliver on his promise to bring justice to victims by ensuring that all parties indicted in the investigation into the matter are brought to book.

“To this end, we urge the security agencies and regulatory authorities in charge of mining and explosives to step up action to ensure that this type of incident does not reoccur.

“Governor Makinde’s actions so far, especially in ensuring that those in need of medical attention receive it at no cost, demonstrate the Governor’s love and resolute interest in the welfare and well-being of the entire people of Oyo State. “The Forum assures the Government and people of Oyo State of its unwavering support.”
VANGUARD

News

BREAKING: Renowned Businessman, Aminu Dantata, Is Dead

Published

7 hours ago

June 28, 2025

Editor

Alhaji Aminu Alhassan Dantata, a renowned Nigerian businessman and philanthropist, has passed away at the age of 94.

The news of billionaire businessman’s demise was disclosed via a social media post on Saturday by the Deputy National Treasurer of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Uba Tanko Mijinyawa.

According to him, details of the Muslim funeral prayer (Jana’iza) for Dantata will be announced in due course.

“Inna Lillahi wa’inna ilaihi Raji’un. Allah ya yi wa babanmu Dattijo, Alhaji Aminu Alhassan Dantata, rasuwa. Muna addu’a Allah ya jikan sa, ya gafarta masa. Za a sanar da lokacin jana’izarsa,” Tanko wrote in Hausa language.

Tanko’s message about the late philanthropist, who is also an uncle to Africa’s richest man, Aliko Dangote, was translated as “Indeed, we belong to Allah and to Him we shall return. May Allah have mercy on our father and elder, Alhaji Aminu Alhassan Dantata. We pray for his forgiveness. The time of his funeral will be announced.”

Also confirming the news, his Principal Private Secretary, Mustapha Abdullahi Junaid, disclosed in a statement Saturday morning that the Janazah details will be shared later.

Junaid wrote, “Innalillahi wa inna ilaihi rajiun. Innalillahi wa inna ilaihi rajiun. It is with heavy heart that I announce the passing of our beloved father, Alhaji Aminu Alhassan Dantata. May Allah grant him Jannatul Firdaus and forgive his shortcomings. The Janazah details will be shared later insha Allah.”

Alhaji Aminu Dantata, who was the founder of Express Petroleum & Gas Company Ltd., is also credited with having played a key role in the establishment of Nigeria’s first non-interest (Islamic) bank, Jaiz Bank.

News

EYIF: Utilize N2m Grant Provided By The Govt, Edo Deputy Gov Urges Youths

Published

16 hours ago

June 27, 2025

Editor

…says 1,500 applicants screened, 30 met requirements

Deputy Governor of Edo State, Hon. Dennis Idahosa, has urged youths in the state to make the best use of the N2 million start-up grant provided by the state government under the Edo Youth Impact Forum (EYIF).

Idahosa added that the youths must be innovative as they tapped into the two million start-up grant.

In a statement, the Chief Press Secretary to the Deputy Governor, Friday Aghedo, said Idahosa made the remarks during an incubation class of EYIF.

The Edo number two citizen, while noting that EYIF was parts of the government’s drive to build a new generation of entrepreneurs that would impact and shape the state’s financial economy, showed them how to position themselves in the entrepreneurial space to boost the local economy.

Idahosa encouraged the youths to put behind their challenges and make the best of the opportunity provided by the Senator Monday Okpebholo-led government.

According to him,
though 1,500 applicants got screened ahead of the finale scheduled for July 2, 2025, only 30 met the requirement and thus scaled the initial process.

“This number has again been pruned to 10 participants today and will eventually be reduced further to five finalists at the end of the day.

“Irrespective of who emerges as finalists, I want you to know that you are all winners. We are here as a government to encourage the youths because any society that strives to grow must have an active youth involvement,” Idahosa reiterated.

Earlier, the Special Adviser to the Governor on Finance, Investment and Revenue Generation, Mr. Kizito Okpebholo, presented the participants to the deputy governor.

News

Things To Know About Nigeria’s New Tax Laws

Published

17 hours ago

June 27, 2025

Editor

President Bola Tinubu on Thursday signed four new tax laws aimed at modernising and streamlining the country’s tax system.

In the new tax law, the Value Added Tax rate remains at 7.5 per cent despite initial proposals to increase to 12.5 per cent, but its scope is expanded.

Essential items—such as food, education, healthcare, public transport, residential rent, and exports—are zero-rated to ease inflationary pressure.

For revenue allocation is restructured: now 30 per cent of VAT proceeds are distributed based on consumption (rather than contribution), 50 per cent equally among states, and 20 per cent to population-based allocation.

With the latest development, it is expected that state revenue streams will increase, and it will also discourage tax evasion.

Overview of the four new laws

Nigeria Tax Act: Consolidates various tax rules into a single, simplified code, eliminating over 50 small, overlapping taxes. This reduces complexity and duplication, making it easier for businesses to comply.

Tax Administration Act: Establishes uniform rules for tax collection across federal, state, and local governments, ensuring consistency and reducing administrative conflicts.

Nigeria Revenue Service Act: Replaces the Federal Inland Revenue Service with the independent Nigeria Revenue Service, aiming for greater efficiency and autonomy in tax administration.

Joint Revenue Board Act: Enhances coordination between different government levels and introduces a Tax Ombudsman and Tax Appeal Tribunal to handle disputes fairly.

Key objectives of the new tax rules

Simplify Tax System: Reduces bureaucratic hurdles and overlapping taxes to make compliance easier, especially for small businesses and informal traders.

Increase Revenue Efficiency: Aims to boost Nigeria’s tax-to-GDP ratio from 10% (below the African average of 16–18%) to 18 per cent by 2026 without raising taxes on essential goods.

Reduce Financial Burden: Provides relief for low-income households and small businesses while ensuring high-income earners and luxury consumers contribute more.

Fund Public Services: Increased revenue will support infrastructure, healthcare, and education, reducing reliance on borrowing.

Who benefits and how
Low-Income Households:
Individuals earning up to ₦1 million ($650) annually receive a ₦200,000 rent relief, reducing taxable income to ₦800,000, exempting them from income tax.

VAT exemptions on essential goods and services (food, healthcare, education, rent, power, baby products) lower living costs.

Small businesses:

Businesses with an annual turnover below ₦50 million ($32,400) are exempt from company income tax.
Simplified tax filing without requiring audited accounts reduces compliance costs.

Large businesses:

Corporate tax rates drop from 30 per cent to 27.5 per cent in 2025 and 25 per cent thereafter.
Tax credits for VAT paid on expenses and assets allow businesses to recover the 7.5 per cent VAT.

Charitable, educational, and religious organisations:

Tax incentives for non-commercial earnings, encouraging community-focused activities.
Impact on different groups
Low-Income Earners: Benefit most from income tax exemptions and lower costs for essentials, increasing disposable income.

Small Businesses and informal traders: Simplified rules and tax exemptions encourage compliance and reduce financial strain, potentially formalising more businesses.

High-income earners and luxury consumers face higher VAT on luxury goods and premium services, plus capital gains tax on large share sales.

Government: Expects increased revenue for public services without overburdening vulnerable citizens.

Why reforms were needed

Nigeria’s tax system was outdated, inefficient, and disproportionately harsh on low-income groups.
The low tax-to-GDP ratio (10%) limited funding for critical services like healthcare and infrastructure.
Overlapping taxes and complex rules deterred compliance, especially among small businesses and informal traders.
Public and expert reactions

Positive sentiment: Small business owners welcome tax exemptions but seek clarity on enforcement to avoid unexpected levies.

Low-income earners appreciate relief on essentials but remain cautious about implementation.
Taiwo Oyedele, head of the Presidential Fiscal Policy and Tax Reform Committee, claims 90% public support, emphasising that success depends on awareness and trust.

The reforms align with Tinubu’s administration’s goal to reduce economic inequality and boost fiscal capacity without overburdening citizens.

By encouraging voluntary compliance and reducing reliance on loans, Nigeria aims to strengthen its economy and fund development projects.

These reforms mark a significant step toward a fairer, more efficient tax system, with a focus on supporting vulnerable groups while fostering economic growth. However, their success hinges on transparent enforcement and public trust. For further details, you can refer to official statements from the Nigerian government or credible news sources covering the reforms.
(PUNCH)