Minister urges Chartered Institute of Taxation to intensify public awareness as government targets more eligible taxpayers

Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has reiterated that government is focused on expanding the country’s tax net rather than raising tax rates, as part of ongoing fiscal reforms aimed at boosting revenue. Oyedele made this position clear on Thursday during a meeting with leadership of the Chartered Institute of Taxation of Nigeria (CITN) in Abuja.

Speaking at the event, Oyedele stated that government’s priority is to bring more eligible Nigerians and businesses into the formal tax system to ensure fairness and improve funding for public services. He emphasised that increasing tax rates was not under consideration, noting that those already complying should not be burdened further. “It is not about increasing taxes but making sure that those who are supposed to pay taxes do so. We want to promote fairness in tax administration,” the minister said.

Oyedele highlighted that despite several reforms over the years, Nigeria still struggles with low tax revenue collection, limiting funds available for critical sectors such as infrastructure, healthcare, and education. He pointed out that a significant number of eligible taxpayers remain outside the tax bracket, which constrains economic development efforts. According to Oyedele, “We are still not getting enough revenue from taxes,” urging a shift towards broadening compliance rather than imposing higher levies.

The minister commended CITN for launching a National Tax Awareness Day and supporting government reforms. He called on the institute to step up public enlightenment campaigns to address misconceptions about taxation among Nigerians. Oyedele stressed that many citizens continue to see taxation merely as a means for government to collect money, rather than a tool for national development.

Additionally, Oyedele challenged CITN to establish annual awards recognising individuals and organisations who demonstrate exemplary tax compliance. He believes such recognition would encourage voluntary compliance across the country and help build trust in the system. The Federal Government has consistently maintained that its current reform agenda seeks to simplify Nigeria’s tax structure by reducing multiple taxation and improving administration while broadening participation, instead of raising rates for those already paying.

Source: https://www.pulse.ng/story/nigeria-needs-more-taxpayers-not-higher-taxes-says-finance-minister-taiwo-oyedele-2026062614344076206

Emerging singer credits city’s insecurity for shaping his sound, calls for deeper recognition of soul genre in Nigeria

Beekay Bassey, a fast-rising Afro soul musician from Port Harcourt, Rivers State, has highlighted how growing up amid insecurity in the city influenced his passion for music and commitment to spreading hope. Speaking on Wednesday, Bassey described choir rehearsals as a safe haven during tense periods, which eventually inspired him to pursue a career rooted in soul and live performance.

According to the singer-songwriter, Port Harcourt’s environment played a crucial role in shaping his artistic journey. He explained that music served as both an escape and a tool for self-expression during challenging times. “Music became a kind of rescue for me,” Bassey said, reflecting on his formative years. He noted that the experience fuelled his drive to deliver messages of hope and resilience through every performance.

The Nigerian music scene has long been dominated by pop and adjacent genres, often pushing soul musicians to the background. However, Bassey believes there is growing space for artists who prioritise depth and authenticity. “There are still troubadours making a case for the genre with profound releases,” he stated, urging more support for live music platforms and opportunities for emerging talents.

Industry watchers say Bassey’s emergence signals renewed interest in Afro soul at a time when many young Nigerians are seeking more meaningful musical experiences. Some stakeholders have called on event organisers and promoters to invest in live showcases that highlight diverse genres beyond mainstream hits.

As Beekay Bassey continues to perform across major cities, he remains focused on using his craft to uplift audiences. “My goal is to spread hope with every song,” he said. Observers expect his advocacy will encourage both listeners and industry players to embrace the healing power of soul music within Nigeria’s evolving cultural landscape.

Source: https://guardian.ng/life/music/beekay-basseyon-afro-soul-live-music-and-spreading-hope-with-soul/

Bank unveils operational upgrades and partnerships to deliver single-digit loans, shield smallholder farmers from high interest rates

The Bank of Agriculture (BOA) has unveiled a strategic roadmap to modernise agricultural finance and deepen financial inclusion for smallholder farmers across Nigeria. The announcement was made by Managing Director and Chief Executive Officer, Mr Ayodeji Oludare Sotinrin, on Wednesday in Abuja.

Sotinrin stated that the new roadmap includes major upgrades to BOA’s operations and fresh high-level partnerships aimed at optimising the delivery of government-backed agricultural intervention programmes. According to him, these steps will empower more rural farmers by expanding access to affordable finance at the grassroots level.

He explained that as Nigeria’s apex agricultural development finance institution, BOA is charged with safeguarding and deploying subsidised government funds. Through provision of single-digit interest loans, Sotinrin said, the bank is helping shield smallholder farmers from commercial lending rates that often drive up production costs. “We are committed to ensuring our intervention programmes reach every corner of the country and truly benefit those at the base of the pyramid,” he said.

To scale its impact further, Sotinrin revealed that BOA is actively building collaborations with state-level delivery platforms. He noted that these partnerships are designed to streamline loan disbursement and technical support, making it easier for smallholder farmers—who make up the bulk of Nigeria’s agriculture sector—to access much-needed capital.

Stakeholders in the agriculture sector have welcomed the BOA initiative, describing it as timely given rising food inflation and persistent challenges faced by rural producers. Many experts argue that lower interest rates for farmers could boost local production, reduce post-harvest losses, and improve food security nationwide.

The bank says it will continue to refine its strategy in line with government priorities on food security and rural development. Implementation of the new roadmap is expected to roll out in phases over coming months.

Source: https://guardian.ng/business-services/agro-care/boa-rolls-out-roadmap-to-modernize-agric-finance-deepen-grassroot-inclusion/