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Senate to work towards reducing Nigeria’s borrowing — Lawan

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Lawan urges govts to invest more in public schools

The President of the Senate, Ahmad Lawan, has said that the upper chamber will work with revenue generating agencies towards reducing the level of the nation’s borrowing.

Lawan said this on Wednesday in Abuja, at an event to mark his 63rd birthday.

He said that the senate would support and supervise the agencies and keep them on their toes “for us to have more revenues in order to reduce the level of borrowing.”

“The upper chamber in the first-quarter of this year will focus on addressing the challenges of revenue generation, collection and remittance to shore up earnings by the Federal Government.

“An improvement to the country’s revenue figures will reduce Nigeria’s dependence on external borrowings for the execution of capital projects captured in the national budget.

“We still have a huge responsibility, and in fact, it is something that we wanted to do last year, but because of the COVID-19 pandemic we couldn’t do so.

“This year, by the grace of God, we are going to resuscitate that plan and it is to keep and maintain focus on revenue generation, collection and remittance.

“Our revenue to GDP ratio is very low and the economists will tell you Nigeria’s problem is not debt, but revenue.

“So, if that is the case, it means those of us in government must focus on dealing with the challenges of revenue generation, revenue collection and remittance.

“This year, we are going to have engagements with the revenue generating agencies such as Nigerian Ports Authourity (NPA), Customs, Federal Inland Revenue Service (FIRS) and so on, on a quarterly basis, to have their targets set for them, and we want them to come and brief us on their performance every quarter.

“We hope to start the first meeting, which is an exploratory kind of meeting with them either this month or early February.

“We want to see how we can make positive difference in the area of revenue generation.

“Nobody likes taking loans, borrowing or accumulating debts, whether as an individual, a family, a community or as a country.

“But what can you do when you’re not able to generate enough? We are as concerned as anybody else about our level of borrowing, even though we have not saturated, but if we can do better why not reduce, and the best way to reduce is to get more revenues from especially independent sources.

“The government owned enterprises are supposed to give us more money. In 2022, we are expecting maybe about a trillion, I’m not an economist, but I believe that we should be expecting maybe double or triple from them.”

Lawan further said that the National Assembly this year, would also focus on security through oversight of funds appropriated in the budget to the armed forces and security agencies.

He explained that doing so would guarantee transparency in the procurement process and ensure the welfare of military and security personnel tasked with restoring security across the country.

“Today, the security situation still begs for more attention. We will give a lot of attention to the security situation.

“We have appropriated about a trillion naira for our security agencies and armed forces, now it is for members of the National Assembly to ensure that the procurement process by the armed forces are transparent and everybody there is accountable.

“Of course, we should do oversight as much as possible for the welfare of our soldiers and security personnel. They need to continuously be motivated,” he said.

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China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

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China Introduces Instant Tax Refunds for Foreign Tourists to Boost Shopping Experience

China has revamped its tax refund policy for foreign tourists, shifting from a refund-upon-departure model to a more convenient refund-upon-purchase system, according to the State Taxation Administration (STA).

The STA announced on Tuesday that under the new system, foreign visitors can now claim Value Added Tax (VAT) rebates instantly at designated tax-free stores. This change allows tourists to use their refunded amount immediately for additional shopping, enhancing their overall experience in China.

Previously, VAT rebates could only be withdrawn upon departure, but with the new policy, tourists will be able to access their refunds in real-time during their stay. The policy, which was initially tested in cities like Shanghai, Beijing, and Guangdong, has now passed all operational requirements and will be rolled out nationwide.

The STA emphasized its dedication to improving policy guidance and simplifying refund procedures to better serve international visitors.

Li Xuhong, Vice-President and Professor at the Beijing National Accounting Institute, welcomed the change, stating that the nationwide implementation would raise China’s tourism service standards. “It will foster a friendly, efficient, and convenient tourism environment,” Xuhong added.

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Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan’s Trade Office Claims

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Nigeria Reaffirms Commitment to One-China Policy Amid Taiwan's Trade Office Claims

Rep. Jaafaru Yakubu, Chairman of the House of Representatives Committee on China-Nigeria Parliamentary Relations, has reiterated Nigeria’s firm commitment to the One-China Policy, following recent comments by Taiwan’s Trade Mission Head in Nigeria, Andy Yih-Ping Liu.

Speaking in Abuja on Tuesday, Yakubu firmly declared that Nigeria continues to recognize Taiwan as an integral part of the People’s Republic of China. He rejected Liu’s claim that Taiwan was not part of China, labelling it as “propaganda” aimed at undermining the strong diplomatic ties between Nigeria and China.

“For the record, United Nations General Assembly Resolution 2758, adopted in 1971, recognised the People’s Republic of China as the sole legitimate representative of all of China, including Taiwan,” Yakubu stated. “The One-China Policy remains the cornerstone of China-Nigeria relations.”

He emphasized that since Nigeria and China established diplomatic ties in 1971, the country has consistently upheld this principle. “Efforts by Taiwan’s trade office to challenge this stance are futile and will not succeed,” Yakubu added.

Yakubu criticized Liu’s comments as an attempt to draw Nigeria into China’s internal matters, accusing the Taiwanese official of deliberately sowing discord and provoking a diplomatic rift. “Nigeria’s relationship with China is built on mutual respect and non-interference in each other’s political matters,” he said.

In response to Liu’s claim that China acted as a bully, Yakubu pointed to the positive trajectory of Nigeria-China relations. “Contrary to these baseless assertions, Nigeria has enjoyed a mutually beneficial partnership with China, yielding tangible results for both nations. Since 1971, our ties have grown significantly.”

He highlighted the strategic nature of the partnership, referencing the elevation of the relationship to a Comprehensive Strategic Partnership during the 2024 FOCAC Summit in Beijing. “Today, Nigeria stands as China’s second-largest trading partner in Africa, with bilateral trade surpassing 20 billion dollars,” Yakubu noted.

Furthermore, Yakubu praised China’s role in Nigeria’s infrastructural development, with investments in sectors such as rail networks, roads, ports, power stations, and water treatment facilities.

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Shettima Warns Media Against Romanticising National Challenges

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Shettima Warns Media Against Romanticising National Challenges

Vice President Kashim Shettima has cautioned Nigerian media practitioners against the growing tendency to romanticise serious national issues, describing the trend as a dangerous departure from the media’s constitutional duty of promoting truth and accountability.

Represented by his Special Adviser on Special Duties, Modibbo Umar, the Vice President issued the warning on Tuesday while delivering a speech at the 17th LEADERSHIP Conference and Awards held at the Old Banquet Hall of the State House, Abuja.

“We must resist the temptation to romanticise serious national issues or frame them in ways that distort public understanding,” Shettima said. “Doing so only weakens the fabric of our democracy and derails our collective efforts at nation-building.”

The Vice President’s remarks came as stakeholders in governance, business, and civil society gathered to reflect on the theme of the event, “Challenges and Opportunities in Nigeria’s Fiscal Federalism.” The conference provided a platform for thoughtful engagement on some of the country’s most pressing issues, with a focus on the responsibilities of leadership at all levels.

Shettima also used the occasion to commend LEADERSHIP Newspapers Group for its consistent contributions to national discourse and its commitment to celebrating excellence in leadership.

“I commend LEADERSHIP Newspaper for the vision to convene this vital discourse and for shining the light on those who have chosen to lead with courage and competence. May we never tire of striving for a better Nigeria,” he said.

The annual LEADERSHIP Conference and Awards continues to be a major event that brings together influential voices to deliberate on national progress and honour individuals and institutions making meaningful impact in society.

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