Business
FG Plans Single-Digit Taxes For Nigerians, Says Oyedele
Chairman Presidential Committee on Fiscal and Tax Reforms, Taiwo Oyedele revealed this in an interview on Channels Television.
Oloyede explained that all taxes would be cut down to single digits when the ongoing reforms are concluded.
A single-digit tax system allows less than 10 taxes to be paid by citizens or businesses within a period of time.
He said this in an interview themed, ‘Tax Reforms: Why states should not collect VAT,’ noting that his committee has put a framework in place to enhance cooperation between tax authorities and states in terms of data, tax intelligence and capacity building.
Our hope is when we are done with our reforms, all the taxes will be down to single digit,” Oyedele said.
He said, “We want to be able to let the authorities trained on tax matters collect taxes while others focus on primary mandates and watch the economy grow in a way that benefits everyone,” Oyedele stated.
The Nigerian tax administration bill is our term to try and put registration of taxpayers, filing of returns, assessment, doing tax audit, and using technology for tax administration. We are engaging with legislators and we believe that Nigerian lawmakers have concerns and we want to summarise the bill for them,” Oyedele further said.
He noted that the Nigerian tax system is one of the most backward in the world, describing the situation as ‘embarrassing.’
“We are in 2024, and anything that will stop the reforms of Nigeria’s tax system will be really sad and I think we can work out the differences for the process to continue and for the bills to be enacted.”
On his X account on Monday, Oyedele also said the federal government will reduce the overall tax burden on Nigerians while still ensuring that enough revenue is generated in the country.
“The plan is to reduce the overall tax burden, not increase it. By simplifying the tax system, harmonising taxes and addressing impediments to investments, the reforms will boost economic activities and therefore enhance revenue generation for all tiers of government,” Oyedele said.
He outlined strategies the government will be implementing to ensure that tax revenue increases without raising the tax burden. Such strategies include: the removal of disincentives to business formalisation, use of technology, data for intelligence, and tax simplification.
“This will ensure that we can raise tax revenue without raising tax burden, through various strategies including removal of disincentives to business formalisation, use of technology and data for intelligence, tax simplification and enhanced administrative capacity. Beyond raising revenue, curbing tax evasion also ensures that there is a level playing field for all rather than implicitly penalising compliant taxpayers and rewarding evaders,” he said.
He noted that the reforms by the government will benefit small and large businesses as there will be a harmonised single levy at a reduced rate.
Some of the proposals include reduction of corporate income tax rate from 30 per cent to 25 per cent over the next 2 years and elimination of earmarked taxes on companies to be replaced with a harmonised single levy at a reduced rate,” he said.
The development comes following public outcries over multiple and increasing taxation by the President Tinubu’s administration.
Business
Pumpkin Property Introduces Nigeria’s First Starlink-Powered Housing Initiative
Pumpkin Property, a fast-growing real estate development firm committed to creating modern, affordable, and sustainable housing solutions across Nigeria, has announced a groundbreaking initiative that integrates high-speed satellite internet into its housing projects, redefining modern living standards in the country.
Under this initiative, homebuyers in selected Pumpkin Property estates will receive Starlink hardware, professional installation, and three months of complimentary high-speed internet subscription upon purchasing a home.
The initiative will initially be available in Prime Living Estate and Prime View Estate located within Millennium City, Kaduna, as well as Pumpkin Homes located in Karsana, Abuja.
Pumpkin Property focuses on developing well-planned residential communities supported by essential infrastructure—including road networks, drainage systems, street lighting, and modern utilities—while embracing innovative technology that enhances residents’ quality of life.
To support the rollout of this initiative, Pumpkin Property has entered into a collaboration agreement with Konga Online Nigeria Limited for the supply, installation, and technical support of Starlink hardware and related connectivity products across Pumpkin housing projects and real estate developments in Nigeria.
In addition, Pumpkin Property has partnered with TD Africa, an authorized distributor of Starlink solutions in Africa. Through this partnership, Pumpkin Property will have direct access to the latest Starlink hardware, including Starlink kits and accessories, ensuring reliable deployment within its estates.
Starlink, the satellite internet constellation developed by SpaceX, delivers high-speed broadband connectivity through a network of low-Earth orbit satellites. The technology expands access to reliable internet in regions where traditional fibre or terrestrial infrastructure remains limited. As Elon Musk explained:
“Starlink is designed to provide high-speed, low-latency broadband internet to places where access has been unreliable, expensive, or completely unavailable.”
Speaking on the initiative, the CEO of Pumpkin Holdings Limited, Mr Oladeji Bamidele, emphasized the growing importance of digital infrastructure in modern housing developments.
“Connectivity has become as essential as electricity and water in modern communities. By integrating Starlink technology into our housing developments, we are ensuring that our homeowners enjoy reliable high-speed internet from the moment they move in. This initiative reflects our commitment to building future-ready communities across Nigeria.”
By integrating satellite connectivity into its housing projects, Pumpkin Property is positioning itself at the forefront of technology-enabled real estate development in Nigeria, setting a new benchmark for smart living communities.
Prospective homeowners and investors interested in the Starlink-powered homes at Prime Living Estate and Prime View Estate in Millennium City, Kaduna, and Pumpkin Homes in Karsana, Abuja, are encouraged to contact Pumpkin Property for further information on availability and purchase options.
Business
Safety First: Transcorp Hilton Abuja Stages Fire Drill
Transcorp Hilton Abuja has conducted its first-quarter unannounced fire drill simulation as part of efforts to strengthen safety measures and emergency preparedness within the facility.
The exercise, which took place on 19th February 2026, was carried out in collaboration with the Federal Fire Service. The simulation forms part of the hotel’s structured safety programme aimed at ensuring a high level of emergency readiness and effective coordination with relevant authorities.
Management of the hotel said the initiative underscores its unwavering commitment to the safety and well-being of guests and team members.
“We successfully carried out our Q1 unannounced fire drill simulation with the support of the Nigeria Fire Service. This exercise forms part of our structured safety programme, designed to ensure a high level of emergency preparedness and effective coordination with relevant authorities,” the management stated.
The drill comes shortly after the hotel hosted its Valentine’s Day weekend promotion across its rooms and restaurants. The celebration, characterised by romance, entertainment and vibrant experiences, was warmly received by guests.
As preparations begin for the Holy Month of Ramadan, the management reassured guests of a safe, serene and memorable stay.
“We appreciate the understanding of our guests and apologise for any inconvenience the exercise may have caused,” the management added.
Business
NIA trains underwriters on NIIRA 2025, container insurance
The Nigerian Insurers Association (NIA) has commenced a two-day training workshop for underwriters on the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
According to a statement from NIA, the training is focused on Sections 75 and 76, as well as the Compulsory Container Insurance scheme.
The workshop, which began on Thursday, is scheduled to end on Friday.
The News Agency of Nigeria (NAN) reports that no fewer than 40 underwriters involved in container insurance, were participating in the training held at the Insurers House, Victoria Island, Lagos.
At the opening of the workshop, Director-General of the NIA, Mrs Bola Odukale, said that insurance remained a critical pillar of national development and economic stability.
Odukale noted that a well-regulated and legally backed insurance industry, was essential for economic growth, investor confidence and the protection of the public.
She urged participants to engage actively in the sessions, adding that the training would strengthen professional capacity and improve effective implementation of compulsory insurance provisions for the overall benefit of the economy.
NAN reports that facilitators at the workshop include: Mrs Margaret Ogbonnah, Director at the Nigerian Shippers’ Council; Mr Soji Oni, Controller 1, Technical, NIA, Mr Owolabi Longe, Chief Executive Officer of Ironlink Communications, among others.
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