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Improved Tax-to-GDP Ratio will Actualise Budget Ambitions – LCCI 

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The Lagos Chamber of Commerce and Industry (LCCI) has underscored the urgency of improving Nigeria’s tax-to-Gross Domestic Product (GDP) ratio, to meet the ambitious N34.82 trillion revenue projection.

The LCCI Director-General, Dr Chinyere Almona, said this on Thursday in Lagos, in reaction  to the contents of the 2025  budget proposal.

President Bola Tinubu had,  on Wednesday, presented the country’s 2025 budget titled “The Restoration Budget: Securing Peace, Rebuilding Prosperity” to a joint session of the National Assembly.

Tinubu revealed that in 2025, the country was targeting N34.

82 trillion revenue to fund the country’s projected expenditure of N47.90 trillion, including N15.81 trillion for debt servicing.

According to Almona,  to achieve this, accelerating tax reforms, simplifying processes, and incorporating the informal sector were essential.

She said that the country must leverage technology to expand the tax net, minimise leakages, and foster

“Fiscal discipline must complement these efforts to effectively manage the N15.81 trillion debt servicing allocation.

“Nigeria must prioritise high-impact, self-sustaining projects and explore alternative funding mechanisms, such as public-private partnerships, to keep debts within sustainable limits.

“Structural reforms are indispensable to reducing inflation to 15 per cent and stabilising the exchange rate at N1,400 to the dollar, ”she said.

She said that addressing food and energy supply chain bottlenecks, fast-tracking local petroleum production projects, and fostering alignment between monetary and fiscal policies would restore confidence in the Naira and ease inflationary pressures.

“Achieving the ambitious oil production target of 2.06 million barrels daily requires decisive action to resolve pipeline vandalism, theft, and underinvestment.

“Across the three streams of operations in the oil and gas industry, a sound regulatory environment can boost activities and investments in the short term,”she said.

Addressing the priorities of the budget, Almona lauded the Tinubu’s attention to security, infrastructure, education, health, and agriculture, to achieve macroeconomic stability and inclusive growth.

She said that the allocation of N4.91 trillion for defence was commendable compared to previous allocations.

She, however, said that the funding must be complemented with enhanced intelligence, surveillance technology, and simultaneous investment in poverty reduction and youth empowerment.

Almona said that the N4.06 trillion earmarked for infrastructure and significant allocations for education and health called for swift and transparent project execution.

According to her, while the budget outlines bold goals, these aspirations hinge on robust policy implementation, sustained execution, and coherence across government strategies.

“Beyond the figures and assumptions, budget implementation is the key performance driver.

“The 2024 budget implementation cycle extension to June 2025 should be closely watched to avoid such in the future as it can signal weak budget execution.

“We call on the National Assembly to expedite action on the appropriation debates.

“We are concerned that much-needed scrutiny and consultations on the budget may not be possible if the January-December budget cycle is to be maintained,” she said.(NAN)

NEWS

NPERA Deepens Transparency, Accountability in Port Sector

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By David Torough, Abuja

The Nigerian Ports Economic Regulatory Agency (NPERA), has reiterated its commitment to transparency, accountability and responsible management of public resources as it settles into its new role as Nigeria’s port economic regulator.

The Director-General/Chief Executive Officer of NPERA, Dr.

Akutah Pius, stated this when he received a delegation from the Civil Society Coalition for Transparency and Good Governance (CSCTGG), led by its Executive Director, Comr. Success Uko, on a courtesy visit to the Agency’s Abuja Liaison Office.

Akutah said the Nigerian Shippers’ Council had transitioned into NPERA under the new legal and regulatory framework, positioning the Agency to provide stronger economic regulation of Nigeria’s port sector.

He assured the delegation that NPERA remained committed to responsible management of public funds in the discharge of its statutory responsibilities, as well as promoting regulatory practices that enhance confidence and efficiency in the maritime sector.

The DG/CEO said the Agency would give due consideration to the Coalition’s request for collaboration and take appropriate formal steps to explore areas of partnership that align with NPERA’s mandate.

Earlier, the Executive Director of CSCTGG, Comr. Success Uko, said the Coalition was seeking a working relationship with NPERA to promote transparency, accountability, public awareness, stakeholder participation and good governance in the maritime sector.

Uko described NPERA as a critical stakeholder in Nigeria’s transport and maritime sector, noting that effective regulation and access to accurate information were important to improving service delivery and strengthening public confidence.

He said the Coalition had developed initiatives focusing on transparency, accountability, good governance and community development, and sought NPERA’s support towards their implementation and wider impact.

According to him, the proposed collaboration would also promote greater awareness among shippers, importers, exporters, transport operators and other stakeholders about policies, procedures, rights and responsibilities within the maritime sector.

He assured NPERA of the Coalition’s readiness to support legitimate programmes and initiatives of the Agency that are consistent with its statutory mandate.

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NEWS

2027: INEC ‌‍‍‍⁠⁠‌⁠‍‍‌‍‌Appeals for Peaceful Conduct, Promises Neutrality

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The Independent National Electoral Commission (INEC) has appealed to political parties, candidates and voters to ensure peaceful conduct before, during and after the 2027 general election.

Resident Electoral Commissioner (REC) of INEC in Ondo State, Dr Mutiu Agboke, made the appeal at a major stakeholders meeting on Thursday at the commission’s offices at Akure South and North Local Government Area of the state.

Political parties, security agencies, traditional rulers, religious leaders, NYSC members, National Association of Transport Owners (NATO) and other drivers union, among others were present.

Agboke, who visited the traditional ruler of Iju and Ita-Ogbolu in Akure North Local Government Area, said the stakeholders meeting became necessary to ensure the forthcoming election was free, fair and credible.

According to him, credible elections are a collective responsibility and that security, traditional institutions and transport unions all play a critical role in protecting voters, officials and election materials.

The REC, who said INEC would remain neutral and transparent, warned that the commission would not tolerate partisan leaning, vote-buying, intimidation or any act capable of undermining the credibility of the poll.

“This advocacy is for the commission and our major stakeholders to be on the same page because our expectation is to let votes count.

“The recent elections conducted by INEC are enough proof to show that people’s votes determine the direction of who wins.

“Meanwhile, we don’t want them to engage in violence, nobody should allow him or herself or wards to be used for violence and desist from engaging in vote buying.

“It is only votes lawfully cast and duly counted would determine winners,” he said.

He, therefore, assured that INEC officials had been trained to adhere strictly to the Electoral Act and its guidelines, while the commission’s doors remained open for questions and clarifications to avoid misinformation.

Agboke reiterated INEC’s promise of neutrality, saying that preparations for the 2027 general elections had already begun in earnest.

According to the REC, the success recorded in recent by-elections in the state will be built upon to deliver free, fair and inclusive polls that reflect the will of the people.

In their separate responses, Oba Idowu Faborode, The Ogbolu of Ita-Ogbolu; Oba Amos Farukanmi, The Okiti of Iju and religious leaders, pledged to sensitise their subjects and congregations on non-violence.

Also, Dr Gbenga Jemiloye, Akure South Local Government Chairman of All Progressive Congress (APC), applauded the commission for the meeting, saying it showed INEC was ready for the election.

The security agencies and drivers union assured of adequate deployment across the state, while the transport unions committed to timely movement of personnel and materials.(NAN)

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DAILY ASSET Loses Political Editor, Mike Odiakose at 63

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By David Torough, Abuja

The management and staff of DAILY ASSET have announced the death of the newspaper’s Political Editor, Mike Odiakose, who passed away in the early hours of Thursday at the Federal Medical Centre, Keffi, following a brief illness.

Odiakose, aged 63, was described by the management of DAILY ASSET as an accomplished journalist, who served with dedication across various media organisations in Nigeria before joining the newspaper two years ago.

In a statement personally signed by the Publisher and Editor-in-Chief of DAILY ASSET, Dr.

Cletus Akwaya, the newspaper expressed sadness over the death of the veteran journalist, saying he would be deeply missed by his colleagues and members of the wider media community.

“Management and Staff of DAILY ASSET regret to announce the sudden passing of our Political Editor, Mr Mike Odiakose in the early hours of today (Yesterday), following a brief illness at the Federal Medical Centre Keffi,” the statement said.

The management noted that Odiakose’s contributions to journalism extended beyond DAILY ASSET, where he worked for two years, having previously served with dedication in several media organisations across the country.

He is survived by his wife and children.

The newspaper prayed for the peaceful repose of his soul and offered its condolences to his family, colleagues and associates.

“May his gentle soul rest in perfect peace. Amen,” the statement added.

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