Connect with us

General

NLC Rejects 6% Tenancy, Lease Agreements Tax

Published

on

Nigerian Labour Congress NLC

By Adedapo Adesanya

The Nigeria Labour Congress (NLC) has rejected the decision of the federal government to impose a six per cent stamp duty on every tenancy and lease agreement in the country.

The group in a statement issued on Saturday by its President, Mr Ayuba Waba, called the move a harsh fiscal policy that is insensitive to the plights of citizens.

They rejected the new stamp duty policy of the Federal Inland Revenue Service (FIRS) and instead, recommended that the government considers introducing property tax on the numerous unoccupied houses across the country that are presumably owned by the rich.

The statement also described the decision to enforce the tenancy and lease agreement tax as illogical and inhumane, especially because of the harsh economic realities of the COVID-19 pandemic on the poor.

“We call on the federal government and the Federal Inland Revenue Service to rescind this harsh fiscal measure as it is boldly insensitive to the material condition of Nigerians which has been compounded by the COVID-19 health insurgency.

“Nobody would want to be a tenant if they had an alternative. This means that tenants, which this new policy targets, are some of the most vulnerable people in our society. It would be illogical, insensitive and inhumane to churn out laws that make our poor go to bed at night with tears in their eyes.

“The principle of public taxation especially progressive taxation all over the world is that the rich subsidise for the poor. Every tax policy that would be enforceable must create a safety net for the poor.

“Recent policies of government indicate otherwise. Accommodation is a fundamental right guaranteed by Nigeria’s constitution.

“It is unimaginable that tenants who are in the most vulnerable group would be expected to pay six per cent tax for accommodation when sales tax is 1.5 per cent. This is indeed a great injustice against the Nigerian poor.

“Government must take deliberate steps to avoid institutionalizing the widespread belief that it is a crime to be poor in Nigeria,” the statement read in part.

Business Post had reported that FIRS, on July 22, asked landlords and property agents to ensure that they charge six per cent stamp duty on all tenancy and lease agreements they enter into with all renters and remit same promptly to the service so that they do not run foul of the Stamp Duty Act.

According to the Executive Chairman of the FIRS, Mr Muhammad Nami, property-related transactions like tenancy or lease agreement fall under the Ad Valorem category of the stamp duty which attracts six per cent duty payable in the percentage of the total value or sum of the tenancy or lease.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

General

Nigeria Eyes Stronger Diplomatic Ties in Sustainable Development

Published

on

tinubu in UK

By Adedapo Adesanya

Nigeria is eyeing stronger diplomatic and strategic ties when it comes to sustainable development as it participates in the 2026 edition of Abu Dhabi Sustainability Week (ADSW).

President Bola Tinubu arrived in Abu Dhabi, United Arab Emirates (UAE), on Sunday. His plane landed at the Presidential Wing of Zayed International Airport at exactly 11:30 pm local time.

He was received by Sheikh Shakhboot Nahyan Al Nahyan, UAE Minister of State for Foreign Affairs; the UAE Ambassador to Nigeria, Salem Saeed Al-Shamsi; Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar; and members of the Nigerian diplomatic mission in Abu Dhabi.

Several other ministers, including the Minister of Budget and Planning, Mr Atiku Bagudu; the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole; and the Director-General of the National Intelligence Agency, Mr Mohammed Mohammed, welcomed President Tinubu at his hotel.

President Tinubu arrived in Abu Dhabi from Europe, where he spent part of his end-of-year break, engaging in fruitful discussions with Rwandan President Paul Kagame and French President Emmanuel Macron, according to a statement by the presidency.

The 2026 Abu Dhabi Sustainability Week, with the theme The Nexus of Next, All Systems Go, is a global platform that brings together world leaders, policymakers, investors, and experts to advance dialogue and action on sustainable development, climate action, energy transition, and inclusive economic growth.

This visit further reinforces the strong diplomatic and economic ties between Nigeria and the United Arab Emirates (UAE), while positioning Nigeria as an active contributor to global conversations on sustainable development.

Continue Reading

General

SERAP in Court to Force INEC to Account for N55.9bn for 2019 Elections

Published

on

serap inec

By Modupe Gbadeyanka

The failure of the Independent National Electoral Commission (INEC) to account for about N55.9 billion earmarked for the purchase of some materials for the 2019 general elections has forced the Socio-Economic Rights and Accountability Project (SERAP) to file a lawsuit against the commission.

In the suit number FHC/ABJ/CS/38/2026 filed last Friday at the Federal High Court in Abuja, SERAP asked the court for an order of mandamus to compel INEC to disclose the names of all contractors paid the sum of money.

It was claimed that the N55.9 billion was meant for the purchase of smart card readers, ballot papers, result sheets and other election materials for the 2019 general elections, which produced the late Mr Muhammadu Buhari as President for a second term in office.

SERAP is relying on the latest annual report published by the Auditor-General on September 9, 2025, to ask for the use of the funds, which is said to be missing or diverted.

The organisation argued that the electoral umpire “must operate without corruption if the commission is to ensure free and fair elections in the country and uphold Nigerians’ right to participation.”

“INEC cannot ensure impartial administration of future elections if these allegations are not satisfactorily addressed, perpetrators including the contractors involved are not prosecuted and the proceeds of corruption are not fully recovered,” a part of the statement issued by the group stated.

“INEC cannot properly carry out its constitutional and statutory responsibilities to conduct free and fair elections in the country if it continues to fail to uphold the basic principles of transparency, accountability and the rule of law.

“These allegations also constitute abuse of public office and show the urgent need by INEC to commit to transparency, accountability, clean governance and the rule of law,” it further declared.

Continue Reading

General

Finance Ministry Directs Shippers, Airlines to Submit Manifests via Single Window Project

Published

on

NLNG Shipping Arm

By Adedapo Adesanya

The Ministry of Finance has directed all shipping companies and airlines operating in Nigeria to submit their manifests through the Single Window Project (SWP) as part of efforts to strengthen cargo tracking and transparency.

The submission of shipping manifests before the change of policy was handled exclusively by the Nigeria Customs Service (NCS) for onward cargo processing and port clearance.

However, following a memo from late last year signed by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, all shipping firms and airlines were directed to integrate with the National Single Window platform to ensure seamless Manifests submission.

“I would like to bring to your attention that His Excellency, President Bola Ahmed Tinubu inaugurated the National Single Window (NSW) Project on the 16th of April 2024.

The NSW Project aims to streamline and automate import and export processes at Nigeria’s entry & exit ports, with the dual goals of enhancing trade facilitation and increasing government revenue.

“By integrating the operations of multiple government agencies involved in trade processes on one platform, the NSW platform will ensure faster clearance of goods and services, improve operational efficiencies at the imports and significantly reduce bureaucratic bottlenecks.

“Key components of the Single Window as defined by the World Trade Organisation (WTO) and World Customs Organisation (WCO) include: (a) a single-entry point i.e. traders, shipping lines, airlines and other stakeholders should submit all required import and export documentation through a single-entry point on a centralized digital platform, and (b) single submission i.e. all documentation should only be submitted once and data only entered once.

“As a result, the NSW Platform will be the single-entry point of submission for all Sea and Air Manifests. Therefore, all shipping lines and airlines are therefore directed to integrate with the NSW Platform to ensure seamless Manifests submission,” parts of the memo read.

The Comptroller-General of the NCS, the chairman of the Nigerian Revenue Service (NRS), the Managing Director of the Nigerian Ports Authority (NPA), the Managing Director of the Federal Airports Authority of Nigeria (FAAN) and the Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) were copied in the memo.

Continue Reading

Trending