Index to Nigerian Newspapers

The Presidential Fiscal Policy and Tax Reform Committee, led by Taiwo Oyedele, has submitted 20 recommendations to the President of Nigeria regarding various economic aspects. The committee focuses on taxation, job creation, foreign exchange reform, ease of doing business, investment, and relief from the pains of petrol subsidy removal. The committee also proposes the digitisation of the foreign exchange (FX) regime to discourage speculation and hoarding of foreign currency in cash. The committee also calls for the imposition of excise tax on FX transactions to generate revenue. It also suggests forward contracts for the importation of Premium Motor Spirit (PMS) as a short-term solution while waiting for improvements in key economic indicators. The committee also calls for the suspension of multiple taxes, modification of the Tax ProMax system, Data4Tax, personal income tax, tax breaks for the private sector, payment of taxes in Naira, waiver of penalties and interests, FX reforms, social intervention, mobile phones for cash transfers, civil service reform, policy signaling and collaboration, global employment opportunities, export expansion grants, and tariff review. The committee's recommendations aim to address the contentious issue of multiple taxation, digitalize the FX regime, and encourage collaboration among government agencies and economic management teams. They also aim to remove bottlenecks for export expansion grants and facilitate cross-border trade.

Anyone caught moving animals on foot in Benue State would be fined N500,000. A repeat offender faces a N1 million fine under the 2017 Open Grazing Prohibition and Ranches Establishment Amendment Law, as updated. Anyone found moving animals on foot would be fined N500,000 under the proposed law.According to the legislation, there are sanctions for taking animals, including N50,000 for each cow, N10,000 for each pig, N5000 for each goat, and N1,000 for each chicken or bird. The governor claims that the governor upped the previous minimal fines for an animal confiscation to N50,000 based on current relationships. "If the owners do not appear to pick up their cows on the same day that they are seized, they will be required to pay an additional N20,000 for each cow.If you don't make payment within seven days, the law permits us to unction it. ortom said. Despite the law in place ,clashes between hearders and farmers have contiued.

Anyone caught moving animals on foot in Benue State would be fined N500,000. A repeat offender faces a N1 million fine under the 2017 Open Grazing Prohibition and Ranches Establishment Amendment Law, as updated. Anyone found moving animals on foot would be fined N500,000 under the proposed law.According to the legislation, there are sanctions for taking animals, including N50,000 for each cow, N10,000 for each pig, N5000 for each goat, and N1,000 for each chicken or bird. The governor claims that the governor upped the previous minimal fines for an animal confiscation to N50,000 based on current relationships. "If the owners do not appear to pick up their cows on the same day that they are seized, they will be required to pay an additional N20,000 for each cow.If you don't make payment within seven days, the law permits us to unction it. ortom said. Despite the law in place ,clashes between hearders and farmers have contiued.

President Bola Ahmed Tinubu inaugurated 45 ministers to implement his Renewed Hope Agenda in Abuja. Minister of Finance and Coordinating Minister for the Economy, Wale Edun, assured Nigerians that President Tinubu would not turn back on the Nigerian masses suffering from the President's reforms. He urged all members of the ministry to perform and deliver as expected. Health Minister Prof. Muhammad Ali Pate has stated that the ministry will improve governance processes, prioritize health security, and reduce medical tourism. He also called for better synergy among federal, state, and local governments, including the private sector and all critical stakeholders.Nyesom Wike, the Minister of the Federal Capital Territory (FCT), has vowed to restore Abuja's Master Plan after President Tinubu's support. He aims to improve the city's sanitary outlook and curb security challenges within six months. Wike warns against distorting the plan and will demolish all illegal buildings and structures without fear. He also promises to work with security agencies and consider natives in political appointments.

The Nigerian naira has fallen by 6.7% in two days, trading for N710 against the U.S. dollar on Aboki Forex. This record fall comes a year after the Central Bank of Nigeria (CBN) prohibited the sale of foreign currency to bureau de change operators (BDC) due to their unauthorized sales above their authorized market. The suspension of BDC operators' ability to source foreign exchange from the CBN could impact the country's economy by mounting further pressure on the national currency. The apex bank threatened to arrest and prosecute Nigerians using naira to buy dollars last week, but has been criticised for failing to initiate policies to stabilize the country's currency value in the forex market.

President Muhammadu Buhari has attributed Nigeria's progress towards food sufficiency to the adoption of the Anchor Borrowers' Programme (ABP). The Federal Government has invested N1 trillion into local rice production, and the springing up of more domestic rice mills has further guaranteed the march to food sufficiency. The CBN has financed 4,489,786 farmers and planted over 100,000 hectares of wheat across 15 States, and is exploring a new rice seed variety with the Rice Farmers Association of Nigeria (RIFAN). The CBN finance has created about three million jobs, especially for farmers and suppliers, and five million jobs are provided every year through this financing.

The Anchor Borrowers' Programme (ABP) has so far supported over 4.8 million small holder farmers across Nigeria for the production of 23 agricultural comodities, including maize, rice, oil palm, cocoa, cotton, cassava, tomato and live-stock. The Federal Government has sunk N1 trillion into local rice production, and the CBN is exploring a new rice seed variety with the Rice Farmers Association of Nigeria (RIFAN) that has potential to deliver over 8 tons per/hectare.

The Anchor Borrowers' Programme (ABP) has so far supported over 4.8 million small holder farmers across Nigeria for the production of 23 agricultural comodities, including maize, rice, oil palm, cocoa, cotton, cassava, tomato and live-stock. The Federal Government has sunk N1 trillion into local rice production, and the CBN is exploring a new rice seed variety with the Rice Farmers Association of Nigeria (RIFAN) that has potential to deliver over 8 tons per/hectare.

Minister of Finance, Budget, and National Planning Mrs. Zainab Ahmed stated Wednesday that there are no plans to lay off any employees while President Buhar is in office. According to her, a special committee headed by the SGF is examining agencies with the goal of partially merging them using the Oronsanye report. He claims that the President has promised to keep his word and not fire employees. The Federal Government has never failed to pay salaries, as he (Buhari) stated, according to Mrs. Ahmed. The president has issued a directive stating that extra consideration must be given to how staff members would be treated throughout the procedure.

The Federal Government of Nigeria (FGN) has announced the release of a special investigator's probe into the Central Bank Nigeria during Godwin Emefiele's tenure. The special investigator will reveal the scale of issues and the reasons behind Nigeria's current state. The Senate is also set to screen Dr. Michael Olayemi Cardoso as governor, along with four deputy governors-designate appointed by President Bola Ahmed Tinubu.