Echotitbits – Nigeria News

Tag: National Assembly

  • ADC asks Tinubu to halt tax reforms amid claims final law was altered

    ADC asks Tinubu to halt tax reforms amid claims final law was altered

    Photo Credit: The Punch
    2025-12-20 09:00:00

    Reporting by Punch indicates the African Democratic Congress (ADC) is demanding a suspension of Nigeria’s newly introduced tax laws, alleging that key sections were changed after National Assembly passage and presidential assent.

    The party frames the claim as a constitutional issue—arguing that post-assent changes would undermine legislative process and separation of powers.

    ADC says it wants a full investigation to determine who handled the alleged edits and whether prosecution should follow if wrongdoing is established.

    Daily Post said the ADC urged suspension over “alleged forged provisions,” while TheCable’s coverage captured ADC’s warning that “It is time to rethink our tax laws.”

    Echotitbits take:
    Whether proven or not, legitimacy is everything for compliance. Watch for certified “as-passed” copies, side-by-side comparisons with gazetted versions, and clear implementation guidance before take-off.

    Source: Punch — December 20, 2025 (https://punchng.com/adc-demands-suspension-of-tax-laws-over-modification-allegations/)
    Punch 2025-12-20

  • Presidency dismisses calls to pause new tax reforms as political backlash grows

    Presidency dismisses calls to pause new tax reforms as political backlash grows

    Photo Credit: The Punch

    2025-12-18 05:55:00

    Reporting by The Punch indicates the Presidency has rejected demands to suspend Nigeria’s newly signed tax reform laws, insisting implementation will proceed from January 1, 2026.

    Officials argue the reforms are meant to simplify compliance, reduce overlapping taxes, and modernise revenue collection. Critics, however, warn the changes could worsen hardship if rollout is rushed or unclear.

    The debate has intensified amid claims by some lawmakers that the gazetted copies differ from what the National Assembly approved—an allegation that could raise legal questions and slow compliance.

    Premium Times reported Speaker Tajudeen Abbas announced an ad hoc committee, stating, “I’m happy to announce to you that the following members have been appointed to the committee.” Vanguard also quoted a lawmaker complaining, “I was here, I gave my vote and it was counted, and I am seeing something completely different.”

    Echotitbits take:
    The policy risk is less about headlines and more about trust: investors and taxpayers need certainty on the final text. Watch for certified copies, a clear implementation guide, and whether the legislature confirms (or disputes) the gazetted versions before take-off.

    Source: The Punch — December 18, 2025 (https://punchng.com/fresh-storm-brews-over-new-tax-law/)
    The Punch 2025-12-18

  • Budget tussle: lawmakers split over crude benchmark for 2026–2028 plan

    Budget tussle: lawmakers split over crude benchmark for 2026–2028 plan

    Photo Credit: Punch / File
    2025-12-19 11:00:00

    From Punch coverage of the fiscal plan, Nigeria’s lawmakers are reportedly divided over the crude oil price benchmark proposed in the 2026–2028 Medium-Term Expenditure Framework (MTEF).

    The benchmark matters because it shapes revenue projections, borrowing needs and how aggressively government can fund infrastructure and social programmes.

    Verification: BusinessDay reported the disagreement over the benchmark, while Reuters-based reporting (via Channels TV) has highlighted weak oil market dynamics that could complicate pricing assumptions.

    Quotes: BusinessDay: “Reps, Senate disagree over… crude benchmark…” Channels TV: “Nigerian oil struggles to find buyers…”

    Analysis/Echotitbits take: Nigeria’s fiscal credibility rises or falls on realistic oil assumptions. Watch revised benchmark levels, production assumptions versus theft/vandalism realities, and whether non-oil revenue plans become concrete.

    Source: The Punch — 2025-12-19 — https://punchng.com/mtef-reps-senate-disagree-over-crude-benchmark/

    The Punch 2025-12-19

  • Reps open probe into alleged ‘edited’ gazetted tax laws as politics heats up

    Reps open probe into alleged ‘edited’ gazetted tax laws as politics heats up

    Photo Credit: Punch / File
    2025-12-19 12:00:00

    Punch reports that the House of Representatives has set up an ad hoc committee to investigate claims that versions of new tax laws in circulation differ from what the National Assembly passed.

    The controversy is high-stakes: investors and citizens need certainty on what the law actually says—especially ahead of the planned January 2026 effective date.

    Verification: Premium Times confirms the House set up a seven-member committee to probe alleged discrepancies, while The Guardian reported the political demand to shift commencement.

    Quotes: Premium Times: “set up a seven-member ad hoc committee to investigate alleged discrepancies…” The Guardian: “demanded that the commencement date… be shifted…”

    Analysis/Echotitbits take: If citizens believe laws can be altered after passage, legitimacy collapses. Watch for publication of an authenticated gazette, version control, and sanctions if wrongdoing is established.

    Source: The Punch — 2025-12-19 — https://punchng.com/reps-probe-tax-law-tweaks-pdp-demands-suspension/

    The Punch 2025-12-19

  • Senate Advances Overhaul of Nigeria’s Audit Framework With Updated Federal Audit Bill

    Senate Advances Overhaul of Nigeria’s Audit Framework With Updated Federal Audit Bill

    2025-12-18 00:00:00

    The Nation reports that the Senate has concluded work on amendments aimed at replacing the decades-old audit framework, with lawmakers advancing a Federal Audit Service Bill meant to strengthen oversight and public sector accountability.

    The report says the legislation updates Nigeria’s audit architecture and could impact how ministries, departments, and agencies are scrutinised, especially around procurement and project execution.

    Supporters argue the reform is overdue, while critics insist effective enforcement will matter more than new legal text.

    Punch reported that the Senate concluded consideration of the bill, describing it as a move to modernise federal audit structures. (Punch)

    The Guardian similarly covered the development and framed it as a step toward stronger accountability in government spending oversight. (Guardian Nigeria)

    Analysis/Echotitbits take: Modern audit rules can tighten leakages only if institutions are independent and audit findings lead to consequences. Watch the final bill text, implementation timelines, and whether audit reports become more timely and publicly accessible.

    Source: The Nation — December 18, 2025 (https://pmnewsnigeria.com/2025/12/17/senate-concludes-amendment-to-69-year-old-audit-act/)

    Photo credit: PM News Nigeria

    December 18, 2025
  • Revenue sharing formula review gains steam amid calls for deeper fiscal federalism

    Revenue sharing formula review gains steam amid calls for deeper fiscal federalism

    PunchNG (illustrative image)
    2025-08-24

    Writing in ThisDay, analysts argue Nigeria’s revenue sharing formula is due for a rethink, noting the structure continues to shape monthly allocations and fiscal behaviour across the three tiers of government.

    The debate ties into calls for deeper fiscal federalism so responsibilities and resources better align at subnational levels.

    Any review is likely to reopen negotiations around derivation, VAT sharing and constitutional constraints.

    PRNigeria: “RMAFC commenced a review of the revenue sharing formula…”

    The Punch (editorial): “for a new allocation formula…”

    Analysis/Echotitbits take: The hardest part is political bargaining over who gains and who loses. Watch for a formal RMAFC proposal, National Assembly timelines, and whether derivation/VAT sharing becomes the main flashpoint.

    Source: ThisDay — August 24, 2025 (https://www.thisdaylive.com/2025/08/24/issues-in-the-revenue-sharing-formula/)

  • Senate tells FIRS to raise 2026 revenue target to ₦35trn, slams “multiple budgets”

    Senate tells FIRS to raise 2026 revenue target to ₦35trn, slams “multiple budgets”

    Photo credit: PunchNG (image on article page)
    2025-12-15

    According to The Punch, the Senate Committee on Finance criticised the Federal Government’s habit of running multiple budgets within a single fiscal year, warning it weakens fiscal discipline and planning.

    The report says the committee directed the Federal Inland Revenue Service (FIRS) to lift its 2026 revenue projection from ₦31tn to ₦35tn during discussions around the 2026–2028 MTEF/FSP.

    It also referenced a claimed revenue gap in the 2025 budget cycle, fueling arguments that rollovers and repeated revisions are becoming systemic.

    BusinessDay: “at least ₦35 trillion in revenue in 2026.”

    TheCable: “raise the 2026 target to N35 trillion from N31 trillion.”

    Analysis/Echotitbits take: This looks like early pressure-setting for 2026 budget negotiations. Watch whether FIRS follows with compliance tech, base-broadening, and enforcement—rather than new rate hikes—and whether the Executive adopts the higher benchmark.

    Source: The Punch — December 15, 2025 (https://punchng.com/senate-kicks-against-multiple-budgets-orders-firs-to-deliver-n35tn-revenue/)

  • Senate Denies Receiving Petitions Against Tinubu’s Envoys

    Senate Denies Receiving Petitions Against Tinubu’s Envoys

    Photo Credit:Punch Newspapers

    The Senate has refuted claims that it received formal petitions against President Tinubu’s ambassadorial nominees, insisting that no written objections were submitted through official channels. Chairman of the Foreign Affairs Committee clarified that while public conversations and media debates exist, the upper chamber can only rely on properly documented complaints.

    The clarification follows controversy around some nominees and questions over their previous political roles. Lawmakers say background checks and security screening will continue, but stressed that due process and fairness will guide final confirmations.

    Source: Punch Newspapers – 11 Dec 2025

    2025-12-12 10:00:00 Punch Newspapers – 11 Dec 2025 2025-12-11

  • Tinubu Sends 2026–2028 MTEF/FSP to Senate for Approval

    Tinubu Sends 2026–2028 MTEF/FSP to Senate for Approval

    Photo Credit:The Nation

    President Bola Tinubu has transmitted the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper to the Senate, seeking expeditious approval ahead of the 2026 budget presentation. The document, already cleared by the Federal Executive Council, proposes a crude benchmark of $64.85 per barrel and an exchange rate of ₦1,512 to the dollar for the 2026 cycle.

    Deputy Senate President Jibrin Barau referred the framework to the Finance Committee with a deadline for its report. Under Nigeria’s Fiscal Responsibility Act, the MTEF/FSP provides the foundation for annual budgets, guiding revenue targets, borrowing limits and expenditure priorities across sectors.

    Source: The Nation – 12 Dec 2025

    2025-12-12 10:00:00 The Nation – 12 Dec 2025 2025-12-12

  • ADC Applauds Benin Coup Response, Calls for Same Urgency at Home

    The African Democratic Congress commended the Federal Government for rapid intervention during the attempted coup in Benin Republic, but urged the same urgency in tackling insurgency and banditry within Nigeria.

    The party also emphasised that foreign deployments should follow constitutional procedures, including National Assembly ratification.

    2025-12-08

    Vanguard

    2025-12-08