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NANS to mobilise nationwide protest over abduction of Oyo students, teachers

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ADC Chieftain dismisses non performance allegations against Amaechi

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Nigeria can’t rely on borrowing forever, Finance Minister warns over fresh World Bank loan plans By Paul Joseph Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has declared that the country can no longer depend heavily on borrowing to fund national development, insisting that stronger tax reforms and sustainable revenue generation are now critical to the nation’s future. Speaking at the 28th Annual Tax Conference of the Chartered Institute of Taxation of Nigeria in Abuja, Oyedele said Nigeria must build a resilient fiscal system capable of financing infrastructure, healthcare, education, security and social welfare without excessive reliance on debt. His remarks come amid reports that the Federal Government is seeking a fresh $1.25 billion loan from the World Bank to support economic reforms and job creation initiatives. According to the minister, the government’s ongoing tax reforms are designed to improve fiscal sustainability, attract investment, reduce inequality and stimulate long-term economic growth. Oyedele noted that Nigeria’s tax system has for years been weakened by multiple taxation, poor compliance, fragmented administration and overdependence on a narrow revenue base, making it difficult for government revenues to adequately support development needs. He explained that the proposed reforms aim to simplify taxation, improve fairness and reduce the burden on low- and middle-income earners while creating a more investor-friendly environment. The minister disclosed that minimum wage earners have now been exempted from personal income tax, while plans are underway to reduce company income tax rates in order to encourage business expansion and investment. He added that reforms to the Value Added Tax system are expected to lower operational costs, improve efficiency and help moderate inflationary pressures across the economy. Oyedele further revealed that at least 15 states have already adopted tax harmonisation laws aimed at reducing multiple taxation and easing compliance burdens on businesses operating across the country. Also speaking at the conference, Vice-President Kashim Shettima defended the reforms, describing them as pro-people and pro-business measures intended to strengthen the economy and lift millions of Nigerians out of poverty. Former Edo State Governor, Adams Oshiomhole, also backed the reforms, arguing that wealthy Nigerians and private jet owners should contribute more through taxation to support national development. Fintiri approves new phase of Business Wallet programme for 72,000 Adamawa entrepreneurs

Gov. Fintiri demands loyalty as administration nears final stretch

by Charles SuruMay 28, 2026

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Ukraine reports death of another Nigerian fighting for Russian Forces

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Tech

Army declares MASSOB Civil War Memorial directive illegal, warns South-East Churches against unauthorised gatherings

by Edubi Omotayo

The Headquarters of Operation UDO KA has declared as illegal and provocative a directive allegedly issued by the Movement for...

NANS to mobilise nationwide protest over abduction of Oyo students, teachers

by Edubi Omotayo

The President of the National Association of Nigerian Students (NANS), Akinteye Babatunde, has announced a nationwide mobilisation of student leaders...

ADC Chieftain dismisses non performance allegations against Amaechi

by Kenneth Onyekwere

A Chieftain of the African Democratic Congress (ADC), Chief Eze Chukwuemeka Eze, has described as unfortunate, misleading, politically motivated and...

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Army declares MASSOB Civil War Memorial directive illegal, warns South-East Churches against unauthorised gatherings

NANS to mobilise nationwide protest over abduction of Oyo students, teachers