I saw the recently released Ministerial List and immediately I heard the
news break, a wave of excitement came over me. I had been a little bothered
after the inauguration of the new administration since 29th May 2019
about this and considering it was almost two months since then, I had cause to
wonder if we would not be seeing a repeat of 2015 where it took about six
months before the ministers were named. I believe an economy can only be
steered properly when people are at the helm of affairs and every delay in
setting this in motion only gives room for uncertainty and a loss of faith in
the system. However, it is not enough to have people at the helm of affairs. It
is more important to have the right people there.
I have taken a cursory look at the 43 names that were submitted by the
President to the National Assembly for ratification and I have also followed
the ongoing screening and I must say . . . On second thought, I reserve my
comment! I got you there, didn’t I? You were
expecting me to say more? No, I won’t. At least, not
now. I have chosen to keep my thoughts to myself this time. Of course, the
response the list has garnered especially on social media with series of
hashtags have fluctuated from worrisome to hilarious and to outright derision
among other qualifications.
It should come as no surprise anyway. What else would you expect from
Nigerians? We always know how to bring drama at every slightest opportunity. We
are the official meme kings and queens of Africa. Even the South Africans and
Ghanaians know this and know where to draw the line when it comes to playing
with us. The Jollof Wars and the recent ‘sending the Bafana Bafana boys back home’ is still fresh in our memory. Even though we didn’t win the AFCON, I believe beating South Africa was a
very high point for us in the tournament.
Back to our national issues; let’s watch as things unfold over the next few days and hope for the best as
the new ministers take a bow and begin to steer the affairs of their ministries
for the next four years or less. Indeed, time will tell if the President got it
right with his choices this time around.
The seventh instalment of The TaxaideR drops and we here’s what we’ve got cooking
and ready to serve.
In this Issue:
- Taxaide’s Jennifer
Ezediaro shares an enlightening piece; ‘Insights into the Nigerian National Housing Fund’. In this piece,
she demystifies the idea of the National Housing Fund and processes involved in
accessing the Fund among other details. It is a must-read.
We also bring you
some linked pieces from our mobile application, TBook. You can access these on
TBook’s web interface:
- We bring one of
our fantastic pieces from the crates; specifically, from 2016 written by Bidemi
Olumide, CEO Taxaide. In ‘Taxes in Africa: To Raise or To Rise’, BD critically examines the
tax situation in Africa and how among other variables, technology is a central
and inevitable feature. This article is still relevant today, almost three
years after it was written.
- The Central Bank of
Nigeria (CBN) has confirmed the licensing of three new banks. Read
- President Buhari sends list of
ministerial nominees for confirmation. Click here to read.
- The Federal Inland
Revenue Service hints at a harmonised tax bill. Read more here.
- In a rather
unpleasant development, the CBN has also predicted Nigeria’s inflation to
remain double digit. Read more here.
Click here to download your copy in PDF version
- However, in a
related development, the CBN maintains rates and keeps Monetary
Policy Rate (MPR) constant at 13.5%. Read more here.