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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

Gunmen Kill Civil Defence Officer, Abduct Daughter in Fresh Attack in Kogi

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From Joseph Amedu, Lokoja

Odo-Ere, the headquarters of Yagba West Local Government Area of Kogi State, came under attack from armed bandits, resulting in the death of a Civil Defence officer and the abduction of his daughter.

According to sources, the victim, identified as Ayo, a member of the Nigeria Security and Civil Defence Corps (NSCDC), was shot in the head during the attack.

A source confirmed that Mr. Ayo was rushed to a medical facility but was declared dead on arrival.

His remains have since been deposited in a mortuary as a “Brought-In-Dead” case.

The attackers reportedly abducted his first daughter before fleeing the area, further deepening fears among residents following the latest security breach in the community.

As of the time of filing this report, security agencies have yet to issue an official statement on the incident.

The attack has heightened concerns over the growing insecurity in Yagba West and surrounding communities, with residents calling for urgent intervention by security authorities.

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Sea Drone Rescues US Army Helicopter Crew near Strait of Hormuz

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Two crew members of a US army helicopter that crashed near the Strait of Hormuz on Monday were rescued by an American sea drone, US officials have said.

It was the first such operation carried out by US forces, the officials added.

US Central Command (Centcom) earlier said the two “soldiers were safely rescued within approximately two hours and are in stable condition” after their AH-64 Apache helicopter went down “near the coast of Oman while patrolling regional waters”.

It was not immediately clear whether the aircraft had developed a mechanical or any other technical problem, or had been downed by Iranian fire. The incident is being investigated.

In its statement on Tuesday, Centcom said the two crew members had been rescued at 19:33 EDT (23:33 GMT) on Monday.

“Rescue efforts were led by US Naval Forces Central Command and the 82nd Airborne Division, with support from US Air Force and Navy units including US 5th Fleet’s Task Force 59,” the statement added.

The military officials said the pair had been rescued by an uncrewed surface drone that was operated by Task Force 59.

In 2024, Task Force 59 launched a new unit focusing on “the operational deployment of unmanned systems teamed with manned operators to bolster maritime security across the Middle East region”.

It was not immediately clear what type of drone was used in the rescue operation, but a US official said that it had a speed boat-like design.

US President Donald Trump earlier told reporters the two crew members were “fine”, and that a report into the incident would be issued later.

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Benue Assembly Extends Suspension of Former Speaker, Majority Leader by Three Months

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From Attah Ede, Makurdi

The Benue State House of Assembly has extended the suspension of former Speaker, Aondona Dajoh, and former Majority Leader, Saater Tiseer, by an additional three months pending the determination of separate court cases instituted by the duo against the legislature or the withdrawal of the suits.

‎The resolution was reached during plenary on Tuesday, presided over by the speaker, Berger Alfred Emberga, following a motion of urgent public importance moved by the Majority Leader of the House and member representing Kwande West State Constituency, Thomas Dugeri, and seconded by the Deputy Chief Whip, Simon Gabo, representing Mata State Constituency.

The House subsequently adopted the motion and resolved that the suspension of the two lawmakers should remain in force for another three months pending the outcome of the judicial process or the withdrawal of their respective cases against the Assembly in line with the law governing the institution.

‎Also during Tuesday’s plenary, the Benue State Sports Marketing, Gaming and Lotteries Bill, 2026 scaled through second reading on the floor of the House.

Following its consideration, the Speaker, Alfred Emberga referred the bill to the Joint House Committees on Finance, Youth and Sports for further legislative scrutiny.

‎In his opening remarks marking the commencement of the First Sitting of the Fourth Legislative Session, the Speaker of the Benue State House of Assembly, Emberga welcomed members back from recess and urged them to remain committed to their legislative responsibilities.

He noted that the recess afforded lawmakers the opportunity to engage with their constituents and participate in political activities, including party primaries ahead of the 2027 general elections.

‎The Speaker described the Fourth Legislative Session as a defining phase in the Assembly’s tenure and charged members to focus on issues that directly impact the welfare of the people. He identified security and peace-building, economic resilience, infrastructure development, enhanced revenue generation, effective oversight of Ministries, Departments and Agencies (MDAs), and greater citizen participation in the legislative process as key priorities for the session.

He further urged members to sustain harmonious collaboration with other arms of government while remaining steadfast in making laws that reflect the aspirations and yearnings of the Benue State people.

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