News

Tax Reform Bills: Drama In Senate As Tinubu’s Economic Team Attends Plenary

Published

2 years ago

November 27, 2024

There was a mild drama Wednesday at the National Assembly, Abuja, as the Senate attempted to allow members of President Bola Tinubu’s economic team into the chamber.

The Senate Leader, Opeyemi Bamidele (APC, Ekiti Central), had moved for suspension of Order 12 to allow for visitors into the chamber.

Bamidele said, “Tax experts and consultants as well as the Director-General of the Budget Office and the Chairman of the Federal Inland Revenue Tax, Zacchaeus Adedeji, were to attend the plenary to explain the Tax Reform Bills in detail to lawmakers.”

However, immediately after the submission, the lawmaker representing Bauchi Central, Senator Abdul Ningi (PDP), stood up and read from the Order listing the titles of those who were allowed into the Senate plenary according to the Senate’s rules.

Ningi said such a conversation was more appropriate at the committee level and should be handed over to the finance committee and, maybe appropriations, to interface with the team.

In response, Deputy Senate President, Jibrin Barau (APC, Kano North) explained that the Senate suspended its rule to allow for openness and let Nigerians watch the live proceedings and listen to the debate on the Tax Reform Bills.

He, thereafter, asked the Senate leader to address the order he came under.

Bamidele, in response, said, “Mr President, I listened to the Point of Order raised by the most distinguished, highly respected, well-revered former leader of the House and of the Senate, distinguished Senator Abdul Ningi.

“Mr. President, let me clarify. My motion was for suspension, not invocation of Order 12. Order 12 talks about those who are privileged to speak in this hallowed chamber, as well as the exceptions that can be granted.

“But when a motion is moved for suspension, it means that the rule does not apply again. In addition, sir, for our working relationship, let me also amend my motion by saying that in addition to my motion for the suspension of Order 12 on floor privileges, I’m also coming under Order 1B, which says in all cases where there’s no specific provision or rule, the Senate shall regulate its procedure.

“So, Mr President, let it be said that my motion is based on both the invocation of Order 1B of our rules, as well as the suspension of Order 12 of our rules. Nigerians need to know, and we also want to know. Let’s hear these people.”

Upon his explanation, the deputy president then put the question to a voice vote, after which he hit the gavel in favour of the ayes.

Shortly after, Ndume stood up and said such an important matter should have been highlighted on the Order Paper and since it wasn’t a Supplementary Order Paper, it should be printed or stepped down for another legislative day.

Barau, after explaining, said they should avoid rhetoric and face facts, after which he ruled Ndume out of order.

A moment after members of the economic team were allowed into the plenary, Ndume stood up and raised another Point of Order stating that the Deputy Senate President describing his comment as “rhetoric” was an insult.

He said, “I, therefore, demand an apology from you.”

In response, Barau laughed and said rhetoric wasn’t an insult, and it wasn’t directly in response to his comment but a general statement.

Once again, Barau ruled Ndume out of order.

News

Six Corps Members Receive N10m Grants To Boost Agribusiness

Published

13 hours ago

September 22, 2026

Editor

Six members of the National Youth Service Corps (NYSC) have received a total of N10 million in grants to expand their agribusiness ventures under the Farmers for the Future Programme.

The programme was organised on Monday by the British American Tobacco Nigeria Foundation (BATNF) in collaboration with the NYSC to encourage young Nigerians to embrace agriculture and develop sustainable businesses.

Presenting the cheques to the beneficiaries in Abuja, the NYSC Director-General, Brigadier General Olakunle Nafiu, urged Corps members to maximise the opportunities provided by the service year by venturing into commodity marketing and other viable businesses.

Nafiu said agribusiness remained a viable avenue for young people to build sustainable enterprises, create employment and generate wealth.

He also stressed the importance of value addition to the success and sustainability of business ventures, while commending BATNF for placing Nigerian youths at the centre of its entrepreneurship initiatives through value-chain development, employment creation and its partnership with the NYSC.

“I charge you to spread the news around. We have seen the outcome, and it is a good idea,” he said.

The beneficiaries are Dominic Olufemi (FC/25C/1143), who received N3 million; Temitope Adewole (ED/26A/2251), N2 million; Abdulwaheed Bala (ED/25B/1402), N2 million; Olanike Mayungbe (OG/26B/1037), N1 million; Kingsley Udoeyen (KG/26A/1735), N1 million; and Lorember Lorsue (JG/25B/1742), N1 million.

Speaking on the selection process, the Acting Director, Skills Acquisition and Entrepreneurship Development (SAED), Mrs Winifred Shopeka, said the programme began with an online registration portal through which Corps Members engaged in agribusiness submitted their business plans.

She said nearly 3,000 Corps members applied and underwent a rigorous selection process that produced 20 finalists.

According to her, the finalists participated in a boot camp and a final pitching session, which produced the 10 best presenters before the six ultimate winners were selected.

Shopeka said the beneficiaries had also been mentored and attached to established market operators to assist them in marketing their products.

She added that Corps Members who did not make the final stage of the competition were also trained by BATNF.

The BATNF Team Lead, Mr Oludare Odusanya, congratulated the beneficiaries and urged Corps Members engaged in agribusiness to master the fundamentals and acquire the knowledge and skills necessary to succeed.

“We are happy with our collaboration with the NYSC, and it will continue,” he said.

Odusanya explained that BATNF was an independent organisation established to contribute to poverty reduction in Nigeria through sustainable agricultural practices and other interventions.

He said the Farmers for the Future Programme was instituted in collaboration with the NYSC to encourage Corps Members to venture into agribusiness and become job creators.

He added that the beneficiaries would be attached to mentors who would guide them towards achieving success in their respective businesses.

According to him, the programme has, since its inception, continued to enhance the entrepreneurial capacity of Corps Members.

News

CBN Reduces Interest Rate To 23%

Published

13 hours ago

September 22, 2026

Editor

The Central Bank of Nigeria (CBN) on Tuesday announced the reduction of the interest rate, also known as Monetary Policy Rate (MPR) to 23 percent.

Briefing the media in Abuja, the Governor of the CBN, Mr. Olayemi Cardoso, said at the 307th MPC meeting held on September 22, 2026 agreed the resetting of the MPR and recaliberation of the monetary policy market.

According to Cardoso, the committe is satisfied with the disinflation progress, adding that members noted stable banking sector following successful recapitalisation.

Meanwhile, according to Nigerian Tribune, reports that that the MPC, at its 306th meeting in July 2026, disclosed its resolution to retain the interets at 26.5 percent.

According to the Governor of the CBN, Olayemi Cardoso, “the Committee’s decision to maintain the current policy stance followed a thorough assessment of the balance of risks. Although headline inflation moderated marginally in June 2026, global uncertainties have heightened, due mainly to the renewed hostilities in the Middle East.

“In view of the evolving developments, maintaining a cautious monetary policy stance remains appropriate. In arriving at its decision, the Committee noted the recent resurgence of hostilities in the Middle East, with particular attention to its spillover effects on global energy prices and the potential pass-through to domestic inflation.”

News

NURTW: KWAM1 Settles Long-time Rift Between MC Oluomo, Tafa Sego

Published

14 hours ago

September 22, 2026

Editor

Nigerian Fuji musician, Wasiu Ayinde Marshal, popularly known as KWAM1, has brokered a peace deal between the National Union of Road Transport Workers (NURTW) National President, Musiliu Akinsanya, popularly known as MC Oluomo, and the Lagos State Chairman of the union, Mustapha Adekunle, aka Tafa Sego.

The reconciliation took place at Ojusagbola in Ijebu, Ogun State, where several NURTW chieftains gathered for the meeting.

The development was announced on Tuesday on KWAM1’s digital media page on Instagram, alongside photographs from the meeting.

According to the post, the two union leaders have resolved their differences after years of strained relations.

“After years of an age-long rift, MC Oluomo and Tafa Sego have finally settled their differences. And from what we know now, this is final,” the post said.

The musician was said to have intervened as the Mayegun of Yorubaland, with the aim of bringing an end to the longstanding disagreement between the two NURTW figures.

“K1 acted in his role as the Mayegun of Yorubaland by seeking an end to the long-standing rift, once and for all,” it said.

The post also described the meeting as a significant step beyond previous public displays of reconciliation.

“This time, it was not just another handshake for the cameras. The two old friends and colleagues came together at Ojusagbola, with King Wasiu Ayinde Marshal (K1) playing the peacemaker.”

Both MC Oluomo and Tafa Sego were reported to be pleased with the outcome of the intervention.

“Both parties are delighted about the new development,” the post said.

The two men had previously been allies and prominent figures within the Lagos NURTW before their relationship became strained amid disagreements linked to leadership of the union in the state.