By Mike Odiakose, Abuja

A chieftain of the ruling All Progressives Congress (APC), Dr Abayomi Nurain Mumuni, has canvassed the support of Nigerians to ensure speedy passage of the Tax Reform Bill. According to him, the proposed tax reform introduced by President Bola Ahmed Tinubu has the potential to increase revenue generation and create more jobs in the country.

Mumuni made this declaration in a statement on Tuesday through his Media Aide, Rasheed Abubakar. Tinubu had a week ago transmitted four tax reform bills to the National Assembly. Mumuni in his reaction said the tax reform bills when passed into law will enhance the country’s fiscal framework and help to promote economic growth as well as other benefits. Some of the benefits of the bills according to the APC chieftain include increased revenue generation, economic diversification, and attraction of foreign exchange investment and improvement of public services. The APC chieftain said, “The reform aims to broaden the tax base and improve compliance, leading to increased government revenue for public services and infrastructure. By encouraging investments and reducing reliance on oil revenues, the bill supports diversification into sectors like agriculture, technology, and manufacturing. “A more transparent and predictable tax system can make Nigeria more attractive to foreign investors, fostering economic growth, increased business activity and investment can lead to job creation, reducing unemployment and poverty levels. “With higher tax revenue, the government can better fund essential services such as education, healthcare, and infrastructure development. Support for Small and Medium Enterprises (SMEs). “The bill may include provisions to simplify tax processes for SMEs, encouraging entrepreneurship and innovation. “Reforms could enhance the efficiency and effectiveness of tax collection mechanisms, reducing corruption and leakages. “Strengthening tax policies can promote fiscal discipline, helping the government manage its budgets more effectively. “A reliable tax framework can contribute to overall economic stability, making Nigeria less vulnerable to external economic shocks. “Reformed tax policies can ensure that wealthier individuals and corporations contribute their fair share, promoting a more equitable society. “Overall, these reforms aim to create a more favourable economic environment in Nigeria, benefiting both the government and its citizens.”

The Senate, on Tuesday, approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

The approval was sequel to presentation and adoption of the report of Joint Committee on Finance, National Planning and Economic Affairs at plenary in Abuja.

The report was presented by the Chairman of committee, Sen.

Sani Musa (APC-Niger).

NAN also reports that highlights of the approved recommendations of 2025-2027 MTEF/FSP include: approval of projected oil benchmark prices of $75.

3 per barrel for 2025, 2026 and 2027 fiscal years.

The senate also approved the three-year projection for domestic crude oil production, which had a significant increase from 1.

78 million barrels per day in the preceding year to 2.6, 2.1 and 2.35 for 2025, 2026 and 2027.

It equally approved the projected exchange rate of N1,400 to one dollar for 2025, 2026 and 2027 fiscal years, subject to review in the early 2025, based on monetary and fiscal policies.

The upper legislative chamber approved the projected inflation rates of 15.75 per cent, 14.21 per cent and 10.04 per cent for 2025, 2026 and 2027.

It further approved the projected Gross Domestic Product (GPD) growth rate of 4.6 per cent, 4.4 per cent and 5.5 per cent for 2025, 2026 and 2027 fiscal years.

Given the criteria on review of framework for revenue and expenses, the approved 2025 budget proposed spending stood at N47.9 trillion, of which N34.82 trillion was retained.

New borrowings, which stood at N9.22 trillion, consisting of domestic and foreign borrowings, were also approved.

While debt service was valued at N15.38trillion, pensions, gratuities and retirees’ benefits stood at N1.443trillion, and fiscal deficit at N13.08 trillion.

The senate approved the projected capital expenditure of N16.48 trillion, exclusive of statutory transfers which stood at N4.26trillion, while sinking fund was projected at N430.27 billion.

Another approval was the projected total recurrent non-debt of N14.21trillion and special intervention for recurrent and capital of N200 billion and N7 billion.

It further approved issuance of promissory note programme and bond issuance to settle outstanding claims and liabilities of the Federal Government to state governments.

The senate also approved a quarterly investigative hearing with revenue generating agencies to track their compliance with Fiscal Responsibility Act and reprimand clear contravention of the act.

The upper legislative chamber equally approved that Committee on Finance and Customs initiate an investigative inquiry into operations of import duty exemption certificate programme, with focus on import waivers, its impact on revenue losses by the Federal Ministry of Finance and Nigerian Customs Service.

The Senate President, Godswill Akpabio, in his remarks after the passage of the expenditure framework, commended members of the joint committee and other lawmakers for their legislative inputs, leading to the approval of the 2025, 2026 and 2027 MTEF and FSP. (NAN)

By Mike Odiakose, Abuja

Delta State Governor, Hon. Sheriff Oborevwori has charged the new leadership of the state Peoples Democratic Party (PDP) to work towards harvesting members of the opposition parties to boost its chances in future elections.Governor Oborevwori, gave the charge at the thanksgiving service of the Chairman Delta South PDP, Chief Emman Amgbaduba at Living Faith Church, Udu.

Represented by his Deputy, Sir Monday Onyeme, Oborevwori said that Deltans would benefit more if the state remains united under one political party. He said: “We are all aware that Delta is PDP and PDP is Delta State. We should all work for the few persons who are in other political parties to return to the PDP.“We will get more benefits if we are all united as Deltans under the umbrella political party.“We all know that a single broom can easily be broken but a bunch of brooms is impossible to be broken, so, let us remain united as Deltans and as members of the PDP.“Let us continue to do good things, think positive, support Government and its activities and remain prayerful to God, because we have a God of miracle.”The governor further said that his administration was delivering on its MORE Agenda promises through construction of several roads and bridges across the state.“We are well aware that Delta is a praying state that is why things are working very well in our state. “As a government, we believe that there is nothing that we can do without God. In short, we do not have powers of our own, hence we trust in God in all our ways.“We came into government last year with a promise to deliver MORE for Deltans and we can bear testimony that with God, we are witnessing MORE development, more bridges and roads.“We are also witnesses to MORE employment of teachers, in short, MORE peaceful state because, as children of God, we deserve MORE for us to be comfortable as Deltans.“Today, we are here to celebrate with our brother, Chief Amgbaduba for his successful assumption of office as Chairman, Peoples Democratic Party, PDP, Delta South.“My dear people of God, wonderful Deltans, we thank our Chairman, for remembering that all power belongs to God, and I congratulate him again for emerging as the Chairman of our party in Delta South.”Delivering a sermon, Pastor Kolawole Oniwinde said that God instructed Christians to rejoice always, saying that when one is saved, he will be filled with the joy of salvation.Pastor Oniwinde said that joy secures health, vitality and secure access to the divine presence of God, which is the automatic security from God that is needed by every child of God.He urged born again believers to remain joyful by keeping their faith alive, being hopeful all the time and remain born again.