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Breaking : Oyedele, Says, Fiscal Policy and Tax Reforms Committee recommends N800/$ for Customs duty rate

••••Pushes for new national tax structure
The Presidential Committee on Fiscal Policy and Tax Reforms has recommended an exchange rate of N800 per dollar Customs import duty rate for the rest of the year.
This move will be a huge departure from what obtains currently where Customs duty is changed erratically, sometime twice a day with total changes effected so far this year at about 40 times.
Also the value has followed the sharp swings in the exchange rate on the foreign exchange market with a wide range of between N900 and N1,700 to one US Dollar this year alone, a situation that has attracted widespread condemnation across business sectors.
Chairman of the committee, Taiwo Oyedele, disclosed the new direction, yesterday, while speaking on the activities of the tax panel in Lagos.
The tax expert, a former partner at PwC Nigeria, said that the frequent changes in the import duty rate adopted by the Nigeria Customs Service (NCS) due to the volatility of the foreign exchange (FX) market do not allow for adequate planning by businesses.
His words: “When we did the budget, we said naira to dollar will be N800, now it is way more than N1,000. People need to plan.
“So now, we are saying to the government, can you please sign an order that says for the purpose of paying import duty, we shall use N800 for the rest of the year, till December. So, we have proposed N800.”
Customs typically adopt FX rates recommended by the Central Bank of Nigeria (CBN) for import duties based on trading activities in the official FX market.
Many analysts have criticized this approach, noting that it is bad for businesses as it puts business planning in disarray.
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As a way out, Dr Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), had recommended that the Customs should set a quarterly exchange rate between N800/$ and N1000/$ for import duties assessment.
Meanwhile, Oloyede said the committee has also recommended that the over 100 different tax collection agencies at the federal, state and local council levels in the country be collapsed into a central tax agency, known as the Nigerian Revenue Service.
The committee, Oyedele further said, also recommended implementing zero-based budgeting, and introducing long-term appropriation.
“The budget must be restructured to classify items under infrastructure, human capital investment, personnel cost and productivity, administrative overheads, debt service and sinking funds,” he said.
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Tinubu returns from Paris today, Says Onanuga

President Bola Tinubu is set to return to Nigeria today after spending close to two weeks abroad, his Special Adviser on Information and Strategy, Bayo Onanuga, has confirmed.
Onanuga, in a brief post on X, wrote: “President Bola Ahmed Tinubu will return home today.”
The Presidency had earlier assured Nigerians that despite the President’s stay overseas, he remained fully engaged with national governance.
In a statement last Thursday, Onanuga explained: “The President left Paris for London at the weekend and has maintained constant communication with key government officials, overseeing critical national matters, including directives to security chiefs to address emerging threats in some parts of the country.”
He further emphasised that Tinubu’s absence was temporary and “in line with the communicated timeframe of approximately two weeks,” with his return scheduled for April 21, following the Easter holidays.
“The President’s commitment to his duties remains unwavering, and his administration continues to function effectively under his leadership.
“We appreciate the public’s concern and assure all Nigerians that governance proceeds without interruption,” the statement added.
Tinubu had departed for Paris on April 2, 2025, for what the Presidency described as a two-week working visit. According to Onanuga, the trip was intended to “appraise his administration’s mid-term performance and assess key milestones.”
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Opeifa request for the state government to assist the Railway Police and Otti, thanks Tinubu for picking the best material to rewrite Nigeria Railway history

Gov. Otti describes Opeifa as a thorough-bred professional ready to rewrite Nigeria Railway history
Lauds President Tinubu for picking the best material to reposition Nigeria’s oldest corporation
A deserving commendation came the way of the Managing Director of the Nigerian Railway Corporation, Dr Kayode Opeifa, as the Abia State Governor, His Excellency, Dr. Alex Otti, described him as an exceptional professional, most suitable to lead the Nigeria’s oldest surviving public corporation.
Governor Otti spoke on Wednesday, at the Government House in Abia State, during a business visit by the MD/CEO of the Nigerian Railway Corporation, as part of his familiarization tour of the Eastern District of the Corporation.
According to Governor Otti: “I have had so many engagements with past leaders of the Nigerian Railway Corporation, you are clearly different and knows the job”. He thanked President Bola Ahmed Tinubu for appointing Dr. Opeifa to lead the Nigerian Railway Corporation, expressing assurance at his ability to deliver.
He thanked the MD/CEO for promising to synergize with the Federal Ministry of Transportation, and the State Government to see that the transformation of the transportation system in Umuahia is achieved. According to the Governor, “Umuahia Bus terminal is progressing rapidly and we felt that it is important to replicate what we have in Paignton, United Kingdom in Umuahia, by linking the train station with the Terminal to enhance intermodal transportation services.
The Governor stated that he was very happy to see that the MD/CEO is committed to taking the track from Aba to Enugu and even beyond. He recalled, with nostalgia how the train had served the people of the state and regretted the downward trends of rain services across the entire South East.
On the MD/CEO’s request for the state government to assist the Railway Police in the state, Governor Otti promised that his government will provide mobility for Aba Railway Police.
He added that the state government is always ready to support the Federal Government institutions as users of such federal institutions are people of the state, adding that his administration cannot differentiate between federal and state government workers.
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Airlin Advocacy Commissions Jos Office, Targets 7m Members By Next Elections,Says Mohammed Gamawa

During the inauguration ceremony, the National Chairman of Airlin, Mohammed Gamawa, delivered a keynote address, emphasizing the organization’s commitment to educating Nigerians on their civic rights and responsibilities.
According to Gamawa, Airlin aims to bridge the gap between citizens and the principles of the rule of law by fostering a society where people understand not only their rights but also what is expected of them by the country.
“Our goal is to foster interaction among Nigerians, promote respect for the rule of law, and ensure citizens know their rights and civic responsibilities — such as voting to elect future leaders not based on materialism but based on integrity and competence,” Gamawa stated.
He added that understanding and exercising one’s franchise, especially during elections, must go hand in hand with being law-abiding and fully aware of civil responsibilities.
As part of its mission, Airlin is currently targeting 19 states in Northern Nigeria, with Jos becoming the 15th state to be commissioned.
The ceremony also featured the appointment of state and local government coordinators who will help drive the organization’s grassroots advocacy efforts.
With a current membership base of 2.1 million Nigerians aged 18 and above, Airlin projects a significant growth trajectory, aiming to reach 7 million members before the next general elections.
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