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Shettima To NEC: Burden Of Nigerians Is On Our Shoulders
Shettima To NEC: Burden Of Nigerians Is On Our Shoulders
*Council sets up committees on Economic Affairs, Crude Oil Theft & Management
By: Our Reporter
Vice President Kashim Shettima has charged members of the National Economic Council (NEC) to shelve the idea of vacation in the yuletide and carry on with issues of governance to ease the burden of Nigerians hanging on their shoulders.
He charged the Council members to be alive to the demands of Nigerians noting that , “as the year draws to a close, none of us in this chamber should anticipate a vacation. I tend to think so because upon our shoulders rests the weight of responsibilities from which we cannot escape. We are returning to be judged by the promises we made to be here.”
Speaking on Thursday during the 138th meeting of NEC which held virtually, the VP said his principal, President Ahmed Bola Tinubu, GCFR, has shown that the challenges inherited by his administration are surmountable, and has offered visionary leadership and presented a coherent development plan to assist in the country’s pursuit of order, abundance, and stability.
“Each of us owes their constituents the scorecard of their stewardship in these few months of translating ideas into tangible actions. That’s why we can’t afford to fail, and the new year must be, for us, a timeout to reflect on how we have fared so far and what we must do differently to keep the hope of the nation alive,” the Vice President stated.
Apparently keen about getting results of the government’s ongoing reforms in good time, the VP stressed the need for the citizens to feel the positive impact of fuel subsidy removal and forex unification, noting that high inflation and cost of living are global challenges that have affected the economies of all countries.
Shettima said they should be considered as enough “inspiration for us to come together and tackle ours through realistic interventions”.
Meanwhile, following deliberations on critical economic matters and assessments of potential short-term, medium and long-term strategies for addressing pressing economic issues, NEC set up the committees on Economic Affairs, as well as the committee on Crude Oil Theft And Management.
Both committees are to be headed by Kwara State Governor, Alh AbdulRahman AbdulRazak, and his Imo State counterpart, Senator Hope Uzodimma, respectively.
The Economic Matters committee to be chaired by Kwara State Governor, AbdulRazaq AbdulRahman, is saddled with the task of preparing a clear roadmap for dealing with petroleum subsidy, including a framework for defending wage negotiations, exchange rate management and fiscal consolidation sustainability, liquidity management and inflation, medium term investment and growth, fiscal transparency and accountability, as well as state of emergency on food production for 2024.
Members of the committee include the Gombe State Governor, representing North East; Governor of Lagos (South West); the Governor of Akwa Ibom (South-South); the Governor of Anambra (South East); the Governor of Niger (North Central), and Governor of Kaduna (North West).
Rukaiya El-Rufai, Special Adviser to the President on NEC and Climate Change is to serve as Secretary.
The second committee on Crude Oil Theft and Management, an existing NEC committee, has been reconstituted with Governor Hope Uzodimma of Imo State as the chairman.
Other members are the Governor of Ogun State representing South West; the Governor of Plateau State (North Central); the Governor of Rivers (South-South) Governor of Borno (North East); Governor of Jigawa State (North West); the Governor of Abia State (South East); Minister of Budget and Economic Planning; Minister of Finance and Coordinating Minister of the Economy; CBN Governor; GCEO of NNPCL, NDDC Chairman, and Service Chiefs.
The Secretariat will be domiciled at the Ministry of Budget and Economic Planning and the Special Adviser to the President on Economic Matters, Dr Tope Fasua will serve on the committee.
Council also received an update on account balances as at 31st October 2023. The Excess Crude Account as at 31st October, 2023 stood at $473,754.57, while the Stabilization Account was N32,063,186,474.96 during the same period. Development Of Natural Resources Account as at 31st October 2023 stood at N156,770,745,529.74.
Shettima To NEC: Burden Of Nigerians Is On Our Shoulders
News
Police arrest three suspected kidnappers in Gombe
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
News
Youths attack and kill two army officers while responding to dispute in Cross River
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
News
New Tax Regime to Ease Burden on Workers, Small Businesses — Tegbe
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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