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Tinubu nominates Oyedele as minister

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President Bola Tinubu has nominated the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, as Minister of State for Finance.

Oyedele replaces Dr Doris Anite-Uzoka, who has been redeployed to the Ministry of Budget and Economic Planning as Minister of State, her third portfolio in the administration.

The President on Monday conveyed Oyedele’s nomination to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio, according to a statement by his Special Adviser on Information and Strategy, Bayo Onanuga.

Oyedele, 50, from Ikaram, Akoko, Ondo State, is an economist, accountant, and public policy expert who led the comprehensive overhaul of Nigeria’s tax system.

The committee, inaugurated in August 2023, delivered four executive bills that consolidated over 60 taxes into fewer than 10 statutes, introducing significant reforms, including a zero income tax rate for Nigerians earning N800,000 annually or less.

The Tax Reform Acts, which took effect on January 1, 2026, also exempted small businesses with turnover below N50m from company income tax, capital gains tax, and development levy.

Other provisions include a 50 per cent tax deduction for companies hiring new workers for three years, a 50 per cent deduction for wage increases to the lowest-paid employees, and a five-year corporate tax holiday for agricultural enterprises.

Oyedele attended Yaba College of Technology, where he obtained a Higher National Diploma in Accountancy and Finance, before proceeding to Oxford Brookes University for a BSc in Applied Accounting.

He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

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Oyedele spent 22 years at PricewaterhouseCoopers, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader before his appointment to head the tax reform committee.

He is currently a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.

As Minister of State for Finance, Oyedele is expected to oversee the implementation of the tax reforms he championed, particularly as the government seeks to improve revenue generation and deepen economic reforms.

Dr Anite-Uzoka, who is being redeployed to the Ministry of Budget and National Planning, previously served as Minister of State for Industry, Trade and Investment before her appointment as Minister of State for Finance.

It is her third move to a new portfolio within the Tinubu administration.

The Senate is expected to screen and confirm Oyedele’s nomination in the coming weeks, following which he will be sworn in to assume his ministerial duties.

The Finance Ministry, currently led by Wale Edun as substantive minister, oversees fiscal policy, revenue mobilisation, debt management, and economic planning.

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Aiyedatiwa vows to flush out criminals in Ondo

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The Ondo State Governor, Lucky Aiyedatiwa, has declared that his administration would no longer tolerate the acts of banditry in any part of the state, saying criminals would be flushed out of the state.

Aiyedatiwa noted that although insecurity was a nationwide concern, his administration remained committed to protecting its citizens.

He stated this on Tuesday during a familiarisation visit to the monarch of Imafon in Akure North Local l Government of the state, Oba Samuel Aliu.

No fewer than three persons were killed last week by some gunmen in the community. Two of the victims were a mother and her daughter, who worked at a poultry farm, and another resident was popular.

Irked by the development, hundreds of residents of the three local government communities of Imafon, Igushin and Ilado last Saturday took to the streets of Akure, the state capital, to protest the spate of insecurity in their communities.

The protesters who barricaded the popular ShopRite junction, a few metres away from the governor’s office, Akure, were chanting various solidarity songs, with leaves in their hands. There was a traffic logjam for several hours on the roads.

Aiyedatiwa, who also condoled the traditional ruler and residents of the community over the loss of the deceased, pledged decisive action against criminal elements operating in the axis, assuring the people that measures were already being intensified to restore calm and safeguard lives and property.

The governor disclosed, ”Security agencies, including the police, Civil Defence Corps and the military, are working in collaboration with local hunters and vigilantes to secure forests and adjoining communities.”

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Acknowledging progress in tackling kidnapping for ransom, Aiyedatiwa noted that the recent spate of killings indicated a troubling shift that must be urgently addressed.

“More than 100 suspected kidnappers have been arrested, detained and charged in court, while operations are ongoing to flush out criminal elements hiding in forest enclaves.

“Amotekun posts would be established within the troubled communities to enhance surveillance and improve response time,” Aiyedatiwa disclosed.

In his remarks, the Olumafon of Imafon, Oba Samuel Aliu, commended the governor’s intervention, particularly the ongoing road construction, which he said would help address security challenges.

However, he lamented the lack of firearms for vigilantes, noting that it had hampered their effectiveness in combating crimes in the state.

The monarch also complained about the delayed response of some security operatives, alleging that certain personnel operate without adequate weapons.

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Iran puts cost of war at $270bn

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The Iranian government on Tuesday estimated the cost of the war launched by the United States and Israel since February at $270 billion.

Government spokeswoman, Fatemeh Mohajerani, told the Russian state news agency RIA Novosti that the figure was a preliminary estimate.

According to Mohajerani, the first step in arriving at a more complete figure for reparations would be to evaluate damage to buildings.

She said the economic losses and lost tax revenues would also be analysed.

Mohajerani added that the Iranian government would seek compensation from the United States and Israel.

She added that the issue had been part of discussions with the United States during recent direct talks in Islamabad at the weekend.

(dpa/NAN)

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Tinubu unveils NRS corporate headquarters

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President Bola Tinubu on Tuesday officially commissioned the new Corporate Headquarters of the Nigeria Revenue Service in Abuja.

The event marked the transition from the Federal Inland Revenue Service to the newly restructured Nigeria Revenue Service.

Tinubu, while addressing guests in a video of the unveiling shared by his Special Assistant on Social Media, Dada Olusegun, hailed the agency’s performance and formally declared the building open.

Another video shows the president cutting the ribbon, flanked by the Chairman of the Nigeria Revenue Service, Zacch Adedeji, Speaker of the House of Representatives, Abbas Tajudeen, Senate President Godswill Akpabio, and the Minister of the Federal Capital Territory, Nyesom Wike, among other government officials.

Tinubu then moved to read the commemorative plaque.

He said, “The corporate headquarters of the Nigeria Revenue Service was commissioned on the 14th day of April 2026 by His Excellency, Asiwaju Bola Ahmed Tinubu, President of the Federal Republic of Nigeria. This edifice stands as a lasting symbol of integrity.”

According to Olusegun, the NRS headquarters has sixteen floors, three towers, and can accommodate about 3,000 employees.

The transition is part of the Tinubu administration’s strategic restructuring of Nigeria’s tax system, designed to enhance efficiency.

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