Economy
Reps move to address multiples taxation
The Speaker of the House of Representatives, Rep. Tajudeen Abbas has said the 10th national assembly has resolved to address issues surrounding multiple taxation in the country.
He said this will be done through a bill that would address the anomaly.Abbas said this when Mr Lee Hun Seung the South Korean Ambassador to Nigeria paid him a courtesy call in Abuja on Tuesday.He said a committee to address the anomaly had been set up, adding that there was a mutual understanding between the two countries to address it so as to help businesses thrive.He South Korean has over 20 companies in Nigeria plus investment worth over N3 billion, adding that it would augur well to encourage the country to do more.yThis according to him is by way of lifting the burden of multiple taxation.He commended the relationship that existed between South Korean and Nigerian parliaments since 2015.He described such as a worthy investment, adding that the focus of the 10th assembly was to strengthen the economic ties between the two countries.He called on South Korean parliament to continue to collaborate with Nigeria parliament on legislation that would further improved the ties between the two countries.He further called for increased business promotion by organising trade fare and investment in the mining and petroleum sector.Speaking, Seung urged Nigeria to cement the economic ties between the two countries, adding that it was ready to help Nigeria in the area of technology.He said since Korea has technology, it would be willing to establish partnership that would profit the two countries, adding that Nigeria has the largest trading partner in the Africa continent.He said in Sept. there would be a G20 meeting and President Bola Tinubu would attend, adding that the South Korean President and Tinubu would have further discussion on partnership.He said the meeting would provide a new foundation for more relationships between Nigeria and South Korea, while congratulating the President for his election.
Economy
Reps Summon Telecom Operators over Poor Network Services
By Ubong Ukpong, Abuja
The House of Representatives on Wednesday, summoned telecommunication operators in the country to appear before it over the present poor network services.
The Ad Hoc Committee investigating the persistent poor quality of telecommunication services in Nigeria gave the chief executive officers (CEOs) of major telecom operators seven days to appear before it and explain the deteriorating quality of network services across the country.
The committee issued the ultimatum at a public hearing in Abuja on Wednesday, directing the CEOs of MTN Nigeria, Airtel Nigeria, Globacom (Glo), Mafab Communications Ltd.
and other telecommunications service providers to appear before it on October 28, 2026.The resolution followed the adoption of two motions sponsored by Rep. Sunday Umeha and Rep Afam Ogene after the committee expressed displeasure over the failure of the invited telecom operators, including MTN and Mafab Communications, to honour previous invitations and appear before the lawmakers.
The committee directed the Nigerian Communications Commission (NCC) to ensure that all the affected operators comply with the invitation and appear before it at 2 p.m. on October 28 in Hearing Room 447 of the New Building of the National Assembly Complex, Abuja.
It also directed the operators to submit all relevant documents to the committee on or before the scheduled date and account for the persistent decline in service quality, which has continued to affect millions of subscribers and businesses across the country.
The lawmakers warned that any chief executive who failed to honour the invitation would face a possible summons for arrest to compel their appearance before the committee.
Speaking at the hearing, the committee’s Chairman, Rep. Olumide Osoba (APC-Ogun), said telecommunications services had become indispensable to Nigeria’s economy, extending beyond voice calls and internet access to critical commercial activities, including Point of Sale (POS) transactions.
Osoba noted that businesses, financial transactions and other essential services depended heavily on reliable telecommunications networks, making the persistent decline in service quality a matter of serious national concern.
He said the House constituted the ad hoc committee to investigate the recurring complaints by subscribers and determine the factors responsible for the poor quality of services provided by telecommunications operators.
The chairman, however, expressed concern that the invited chief executives had continued to evade direct engagement with the committee by offering various excuses or sending lower-ranking officials to represent them.
He said the practice undermined the purpose of the parliamentary investigation, stressing that the committee expected the chief executives, who were in a position to explain their companies’ operational challenges and commitments, to appear in person.
Also speaking, Rep. Ibe Osonwa expressed displeasure over what he described as the operators’ disregard for the House, despite the substantial revenue they generated from their operations in Nigeria.
Osonwa said it was unacceptable for companies benefiting from the Nigerian market to ignore invitations from the legislature, particularly when the purpose was to obtain explanations on issues directly affecting their customers and the wider economy.
He stressed that telecommunications operators had a responsibility to account for the quality of services delivered to Nigerians, adding that the House would not overlook any attempt to frustrate its investigation.
In his ruling, Osoba urged the NCC to ensure full compliance with the committee’s resolution, reiterating that the affected telecommunications operators must appear before the lawmakers on October 28 and provide the necessary explanations and documents.
Business News
“It’s Not Debatable, We Can’t Go Back,” Mbah Backs Tinubu on Fuel Subsidy Removal
From Sylvia Udegbunam Enugu
Governor of Enug State, Dr. Peter Mbah, has doubled down in his support for the removal of fuel subsidy by President Bola Tinubu’s administration, saying it was undebatable and inconceivable for anyone to imagine a return to the old order.
Mbah spoke at the “Meet the Candidates” town hall meeting organised by Afia TV in Enugu on Wednesday, where he also said that his administration had delivered good governance to the people of the state across all sectors.
He described it as a pathetic misconception of the country’s situation and the direction it was headed for anyone to talk about the reintroduction of fuel subsidy.
“If you reintroduce fuel subsidy today, we will lose ten times whatever we are currently trying to gain in terms of the removal of subsidy. The poverty rate that you are going to experience will be very high because the naira would be automatically devalued.
“We cannot go back to subsidy. And I do not think it is in the interest of the country for us to even debate that.
“Again, we should not even debate it because we do not want to send a signal to prospective investors that we are contemplating it. That would take us back. It is going to create panic in the system. It is going to get investors to pull back.
“Those that are coming in today to invest in that sector will become jittery. So, it is not even a subject to debate. It is something that we have moved on from, and we should be thinking about how to ensure that the natural benefits cascade to the households, create jobs and generate wealth for our people,” he said.
He said the nation should focus on how to further encourage private capital to flow, noting the growth the nation had experienced in the stock exchange space.
He added that Tinubu’s policies had stabilised the macro indicators, thus encouraging foreign direct investment.
“You can see quite a lot of funds coming into our country, not just portfolio investments, but also direct investments. It is also going to strengthen because the macro indicators are right,” he stated.
Mbah maintained that whereas fuel subsidy removal enables the government to target the less privileged, fuel subsidy as earlier practised benefited the rich more.
“By the way, I do not think the subsidy we practised before the President removed it was even the right one for the country because even the people we were looking at benefiting from it were only insignificantly benefiting from it. It was largely beneficial to our wealthy folks.
“But now, you can almost notice that the government is doing that in targeting the poor, using proceeds from subsidy removal. The government is aggressive on cash transfers. There is also the programme where the government is targeting 1,000 persons per ward across the entire country to be able to provide seed capital for them to become productive,” he added.
Meanwhile, on his stewardship so far, Mbah said his administration had kept faith with the people of Enugu State, delivering good governance across all sectors in line with his campaign manifesto.
He said the people of the state only needed to imagine where the state was before his inauguration as governor and where it is currently headed.
“Let us imagine the Enugu we knew four years ago. Let us just imagine an Enugu without Hotel Presidential. Let us imagine an Enugu without the International Conference Centre. Let us imagine an Enugu without Enugu Air. Let us imagine Enugu without the transport terminals, the 268 Smart Green Schools, 260 Type 2 Primary Healthcare Centres.
“You do not want them to imagine an Enugu without the International Hospital. You do not want them to imagine an Enugu without the CNG buses, the Nigergas. I think the list is endless.
“But I even think that we can stretch that imagination further because the work ahead will be more profound. Just imagine an Enugu where our children are receiving education that prepares them for the world because they have been imbued with evolving 21st-century skills. Imagine again an Enugu where you do not have any part of the city with an unpaved road.
“Also, imagine an Enugu in four years’ time that generates 660 megawatts of electricity; where we are able to provide 24-hour power supply; where you cannot come into your house and have the light off; and where people can run their businesses for a whole week without worrying about the cost of diesel. Just imagine an Enugu where you generate electricity and the people of Enugu are buying that at 120 naira because they own the coal that feeds the power plant.
“Imagine an Enugu where you now have to ride, not just on our CNG buses, but you have the monorail that can take you from point A to point B. Imagine an Enugu where you can fly from here to the United Kingdom, to the United States and other parts of the world,” he charged the electorate.
He urged the people to keep faith with the journey of greatness, growth and development, defending the gains of his first term and guaranteeing the promises of his second term by working for his re-election.
“If these imaginations capture our fancy, then we have a duty to fight for it. We do have a duty to continue to make sure that the bar does not come down and that the standard we have set in Enugu is sustained,” he concluded.
Economy
Delta Tops States in Liquidity Rating, Says Tilije
From Francis Sadhere, Delta
Delta State has emerged as the best-performing state in liquidity rating among Nigeria’s 36 states, Commissioner for Finance, Sir Fidelis Okenmor Tilije, has disclosed.
Tilije attributed the development to fiscal discipline, improved internally generated revenue and prudent management of public funds by the administration of Governor Sheriff Oborevwori.
The commissioner made the disclosure during a meeting with management and staff of the Ministry of Finance in Asaba, where he outlined the financial policies and strategies supporting the state government’s development agenda.
He said the administration’s M.O.R.E Agenda had strengthened the state’s financial position through responsible borrowing practices, revenue diversification and reforms designed to improve public financial management.
According to him, Delta State is currently financing its 2026 procurement cycle and implementing major projects across the road, bridge, healthcare and education sectors without taking on new loans.
Tilije described the government’s zero-borrowing approach as a deliberate fiscal policy aimed at meeting development needs with available resources while preventing the accumulation of additional debt.
He explained that the expansion of the state’s revenue base, particularly through non-oil economic activities and improved internally generated revenue, had contributed significantly to its financial stability.
The commissioner stressed that the increase in IGR was not achieved through higher tax rates but through reforms that strengthened revenue collection, widened the tax net, improved compliance and checked leakages.
He added that the government was also working towards introducing more economically sustainable empowerment programmes to improve livelihoods, stimulate economic activities and create greater opportunities for residents.
On workers’ welfare, Tilije said the state had maintained regular salary payments to more than 60,000 public servants, with salaries consistently paid between the 24th and 25th of every month.
He also cited the institutionalisation of the 13th-month salary for public servants as evidence of the administration’s commitment to workers’ welfare and financial security.
In the health sector, the commissioner said the government had sustained free medical services for pregnant women and children below five years of age in government hospitals.
He noted that efforts were also ongoing to upgrade primary healthcare centres across the state to improve access to essential medical services.
Tilije assured residents that the administration would continue to prioritise fiscal responsibility, infrastructure development and investment in human capital, maintaining that prudent management of public resources remained central to achieving its development objectives.
He urged Deltans to support Governor Oborevwori’s re-election bid in 2027, expressing confidence that a continuation of the administration would enable it to consolidate its achievements and pursue further development across the state.


