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NCP HITS GROUND RUNNING, SETS UP COMMITTEE ON RESTRUCTURING OF BANK OF AGRICULTURE

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NCP HITS GROUND RUNNING, SETS UP COMMITTEE ON RESTRUCTURING OF BANK OF AGRICULTURE

*Approves completion of Zungeru hydroelectric power plant concession

*Ratifies NCP standing committees

By: Our Reporter

In a bid to ensure better service delivery in line with the Renewed Hope Agenda of the Tinubu administration, the National Council on Privatization (NCP) has set up an ad hoc committee to fast-track the restructuring and resuscitation of the Bank of Agriculture (BOA).

The Vice President, Sen. Kashim Shettima, who chaired the maiden meeting of the reconstituted NCP at the Presidential Villa, Abuja, emphasised the importance of the tasks before the new Council, particularly the rejuvenation of BOA, among others.

Speaking after the presentation of the agenda and matters arising by the Director General of the Bureau of Public Enterprises (BPE), Dr Alex Okoh, the VP listed the composition of the ad hoc committee, saying a lot will depend on the decisions of the Council in the months ahead.

“We have to make some far-reaching decisions on the restructuring of the Bank of Agriculture because the bank will be critical to the realization of the Renewed Hope Agenda of the Tinubu administration. It is very important for us and for this administration,” he noted.

According to the Vice President, the Finance Minister, Mr Wale Edun will Chair the ad hoc committee, while members include, Minister of Agriculture and Food Security, Sen. Abubakar Kyari; Minister of Budget and Economic Planning, Sen. Atiku Bagudu; CBN Governor, Dr Yemi Cardoso; Rep of the Ministry Of Finance Incorporated (MOFI); Chairmen of the NCP Technical and Legal Committees; a member of the NCP, Alhaji Mohammed Mustapha Bintube, and the DG BPE will serve as Secretary.

VP Shettima urged the committee to come up with a roadmap for the resuscitation of the BOA, among other resolutions.

The Vice President had earlier in his opening address set the tone for the deliberations, urging members to take every task seriously. “We will be meeting more frequently because we have to support the President to execute the Renewed Hope Agenda,” he noted.

The Council also approved the completion of the concession of the 700MW Zungeru Hydroelectric Power Plant and particularly directed the opening of a dedicated account at the Debt Management Office for the payment of the concession fees by the concessionaire.

Vice President Shettima directed the CBN governor to commence the opening of the account at the DMO as proposed by the BPE.

Yet another major decision taken at the meeting was the ratification of constituted standing committees for the Council, comprising the Technical, Stakeholder Engagement, Finance and Legal committees.

Also approved at the maiden NCP meeting was the 2024 work plan of the Bureau of Public Enterprises (BPE) covering its privatization activities and participation in international forums to attract interest in the country’s privatization programme.

Present at the meeting were the Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun; Minister of Agriculture and Food Security, Sen. Abubakar Kyari; Minister of Budget and Economic Planning, Sen. Abubakar Bagudu; Minister of Steel Development, Shuaibu Audu; Minister of Transportation, Sen. Sa’idu Alkali; CBN Governor, Dr Yemi Cardoso, and Chairman of the reconstituted Technical Committee, Mr Oye Odukale, among other Council members.

NCP HITS GROUND RUNNING, SETS UP COMMITTEE ON RESTRUCTURING OF BANK OF AGRICULTURE

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Police arrest three suspected kidnappers in Gombe

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Police arrest three suspected kidnappers in Gombe

By: Zagazola Makama

The Gombe State Police Command has arrested three suspected kidnappers following a tip-off from credible intelligence, sources said on Friday.

Police sources said the suspects were apprehended on March 10 at about 10:00 p.m. by operatives working in conjunction with local hunters.

The arrested suspects were identified as Mohammed Abubakar, 29; Mohammed Bello, 23; and Mohammadu Ali, 25, all residents of Galda Village, Fika Local Government Area of Yobe State.

According to the report, the suspects were planning to carry out a kidnapping in an unspecified location in Bauchi State. Upon interrogation, they allegedly confessed to the planned crime.

Police said investigations were ongoing to uncover further details and apprehend any other accomplices involved in the plot.

Police arrest three suspected kidnappers in Gombe

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Youths attack and kill two army officers while responding to dispute in Cross River

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Youths attack and kill two army officers while responding to dispute in Cross River

By: Zagazola Makama

Two army officers, including an intelligence officer, were reportedly killed during a violent clash between youths in a disputed crisis zone between Isabang and Alesi communities in Obubra Local Government Area of Cross River State.

Sources told Zagazola Makama that the incident followed a conflict on March 11 when Ibrahim Musa, a 25-year-old miner from Kusa, who deals in tin ore at Ekuri village, was allegedly beaten by youths at a village checkpoint and had his mined minerals seized.

The miner reportedly reported the attack to soldiers stationed at 245 Battalion, Edor Barracks, near Jenifer Etuh’s Hospital in Ochon. Troops responded by moving into the forest to arrest four youths allegedly involved in the attack.

Residents said other youths blocked the access road to prevent the arrest and attacked the soldiers. In response, they fired which resulted to the injuries of four persons, including Christopher Agara, 27, and Ogobi Egbe, 30, while two others were evacuated for native treatment.

The attack resulted in the deaths of two soldiers.

Additional troops have since deployed additional personnel to restore order in the area, and normalcy has reportedly returned.

Youths attack and kill two army officers while responding to dispute in Cross River

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New Tax Regime to Ease Burden on Workers, Small Businesses — Tegbe

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New Tax Regime to Ease Burden on Workers, Small Businesses — Tegbe

By: Michael Mike

Chairman of the National Tax Policy Implementation Committee (NTPIC), Joseph Tegbe, has said Nigeria’s new tax regime is structured to reduce the financial burden on workers and small businesses while strengthening the country’s fiscal stability and economic competitiveness.

Speaking at the BusinessDay Tax Reform Conference 2026 themed “Navigating the New Tax Regime: What It Means for Your Wallet,” Tegbe described the reforms as the most far-reaching restructuring of Nigeria’s tax system in decades. He noted that the initiative is aimed at simplifying tax processes, promoting fairness, and creating an environment that supports economic expansion.

According to him, the reforms are anchored on four major legislations — the Nigeria Tax Act, 2025, Nigeria Tax Administration Act, 2025, Nigeria Revenue Service (Establishment) Act, 2025 and the Joint Revenue Board of Nigeria (Establishment) Act, 2025 — which collectively introduce a more coordinated and transparent tax administration framework.

Tegbe explained that the new structure provides targeted reliefs for individuals and small enterprises, ensuring that low-income earners and emerging businesses are not overburdened by taxation.

Under the new regime, individuals earning below ₦800,000 annually will be exempted from personal income tax. Workers will also benefit from a rent relief allowance of up to 20 per cent, capped at ₦500,000, among other incentives designed to ease financial pressure on households.

Small businesses are equally positioned to gain from the reforms. Companies with annual revenues below ₦100 million and assets not exceeding ₦250 million will be exempted from Company Income Tax, while nano-enterprises with annual earnings below ₦12 million will not be required to pay income tax.

Despite these relief measures, Tegbe stressed that individuals and businesses within the exempted thresholds must still maintain proper documentation of their earnings and comply with the requirement to file tax returns.

He noted that beyond the tax reliefs, the reforms will also strengthen institutional coordination among key agencies including the Nigeria Revenue Service, the Joint Revenue Board of Nigeria, the Tax Appeal Tribunal and the Office of the Tax Ombud. He added that increased digitalisation of tax processes will improve transparency, efficiency and compliance across the system.

According to Tegbe, the broader objective of the reforms is to create a tax structure that supports enterprise development, encourages investment and enhances Nigeria’s ability to mobilise revenue for national development without placing excessive strain on citizens.

“The goal is to build a tax system that works for everyone — one that supports government in delivering development while also protecting the financial wellbeing of ordinary Nigerians,” he said.

Other dignitaries at the conference included Executive Secretary of the Joint Revenue Board of Nigeria, Olusegun Adesokan; Acting Executive Chairman of the FCT Internal Revenue Service, Michael Ango; renowned economist Uche Uwaleke; and policy expert Sam Amadi, among others, who also contributed to discussions on the implications of the new tax framework for businesses and households.

New Tax Regime to Ease Burden on Workers, Small Businesses — Tegbe

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