Tinubu Targets ₦34.82 Trillion Revenue to Fund Record-Breaking ₦49.7 Trillion Budget

·       Activist Dele Farotimi Secures Freedom with ₦30 Million Bail

·       Suspension of 18 Edo LGA Chairmen Declared Unconstitutional by AGF

·       Nigeria’s Tax Reform Bill Stirs Regional Tensions

·       Peter Obi Steps Up: Pledges to Meet Ola Rotimi’s Bail Conditions

Across nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

Tinubu targets ₦34.82trn revenue to fund record-breaking ₦49.7trn budget

The federal government has announced plans to generate ₦34.82 trillion in revenue to fund the proposed ₦49.7 trillion 2024 budget. This revenue target aims to address the significant deficit in the ambitious spending plan.

The budget, which is Nigeria’s largest to date, outlines measures such as increased taxation, enhanced public-private partnerships, and diversification of income sources to achieve the revenue goal. The proposed strategies aim to manage the country’s financial shortfalls and sustain critical public projects in the coming fiscal year.

Activist Dele Farotimi secures freedom with ₦30 million bail

Dele Farotimi, a well-known activist and social commentator, has been granted bail by a Nigerian court. The bail amount was set at ₦30 million, following his recent detention that sparked widespread reactions.

Farotimi’s arrest had raised concerns among his supporters, with many questioning the legal basis for his detention. His release on bail marks a key development in the unfolding legal drama, though the specifics of the charges against him remain unclear. The case is being closely monitored as the judicial process continues.

Suspension of 18 Edo LGA chairmen declared unconstitutional by AGF

The Attorney General of the Federation (AGF) has declared the suspension of 18 local government chairmen in Edo State unconstitutional. According to the AGF, the action violates provisions of the Nigerian Constitution, which protects the autonomy of local governments. The ruling has sparked conversations about governance and the limits of executive power at the state level, setting the stage for potential legal and political repercussions.

Nigeria’s tax reform bill stirs regional tensions

The Nigerian government’s proposed tax reform bill has ignited significant opposition from northern leaders, who argue that the plan disproportionately benefits the economically stronger southern states.

A key point of contention is the proposed reallocation of Value Added Tax (VAT) revenue, which would favor states generating higher VAT revenues, potentially deepening the existing economic disparities between Nigeria’s north and south. Northern governors express concerns that this approach could exacerbate poverty and economic challenges in the northern region, which already lags behind the south in terms of GDP per capita.

Despite these regional disagreements, Senate President Godswill Akpabio, an ally of President Bola Tinubu, remains confident that the reforms will pass, emphasizing the government’s commitment to overhauling the tax system to boost revenue. Critics, however, argue that the reform process has been rushed and lacks adequate consultation with the populace, potentially misrepresenting Nigeria’s economic landscape.

Peter Obi steps up: pledges to meet Ola Rotimi’s bail conditions

Former presidential candidate Peter Obi has stepped forward to cover the bail conditions for activist Ola Rotimi. Rotimi’s legal troubles have garnered significant attention, with Obi’s gesture sparking debates on leadership and advocacy. Observers see this as a move to shine a light on issues within the justice system, particularly around access to fair treatment and financial hurdles faced by detained individuals.