Good Morning Nigeria! Welcome to our Website Roundup of Top Newspaper Headlines in Nigeria Today, Friday, 9th May, 2025
Here's what's hot in the news...
Latest News Highlights from Leading Nigerian Newspapers on May 9, 2025 (Friday Edition)
A New Pope Emerges: Know the IdentityConclave Elects New Pope: Cardinals selected the 267th leader of the Catholic Church, Cardinal Robert Prevost, on the second day of the conclave on Thursday. Following his acceptance of the position, he took the name "Pope Leo XIV."
Senate Approves Tinubu's Tax Reform Bills: All Four PassedAfter approving two bills initially, the Nigerian Senate completed the passage of all four tax reform bills submitted by the administration of President Bola Tinubu on May 8, 2025. The bills will go through harmonization in a joint Senate and House of Representatives committee before transitioning to President Tinubu to be signed into law. The bills include the Nigeria Tax Bill, 2025 and the Joint Revenue Board Establishment Bill, 2025.
Key Features of the Bills:- Nigeria Tax Bill, 2025: This bill aims to reduce the Company Income Tax (CIT) rate from 30% to 27.5% in 2025, introduce fiscal changes, and consolidate existing taxation legal frameworks[3][4].- Joint Revenue Board Establishment Bill, 2025: This bill facilitates the creation of the Tax Appeal Tribunal and the Office of the Tax Ombudsman in an attempt to harmonize and coordinate tax administration in Nigeria[5].
Next Steps:- A conference committee comprising members from the Senate and the House of Representatives will harmonize the bills before they are forwarded to President Tinubu for assent[5].- The Senate rejected plans to increase the value-added tax (VAT) rate from 7.5% to 10%[2].- The bills are expected to enhance national revenue, promote fairness in tax administration, and accelerate development in line with global best practices[5].
More News:- APGA Adopts Tinubu As Presidential Candidate For 2027 Election- Presidency Reacts As Nigeria Repays All Debts To IMF- Court Rejects MultiChoice Request To Uphold Increase In GOtv, DStv Prices
Stay tuned for more news updates. See you again tomorrow!
References:
- https://dailypost.ng/2025/05/08/list-of-nigerias-outstanding-debts-to-the-imf/
- https://thenationonlineng.net/2025/05/08/nigeria-senate-rejects-7-5per-vat-increase/
- https://punchng.com/ganiyu-razak-nigeria-should-focus-on-tax-credit-for-businesses-to-grow-its-revenue-base/
- https://businessday.ng/article/analysis-tax-amnesty-won-t-change-nigerias-revenue-base/
- https://www.vanguardngr.com/2025/05/how-tax-bills-will-improve-nigerias-revenue-base/
- The newly elected Pope Leo XIV, formerly Cardinal Robert Prevost, is set to make significant changes in the church.
- The Nigerian Senate's approval of Tinubu's tax reform bills marks a significant step towards economic reform in Nigeria.
- The Nigeria Tax Bill, 2025, aims to reduce the Company Income Tax (CIT) rate and consolidate existing taxation legal frameworks.
- The Joint Revenue Board Establishment Bill, 2025, aims to create the Tax Appeal Tribunal and the Office of the Tax Ombudsman.
- The harmonization of the bills by a conference committee is the next step before they are sent to President Tinubu for signing.
- The Senate rejected plans to increase the value-added tax (VAT) rate from 7.5% to 10%.
- The All Progressives Grand Alliance (APGA) has adopted Tinubu as its presidential candidate for the 2027 election.
- The Presidency responded to news of Nigeria repaying all debts to the IMF, expressing satisfaction with the nation's financial management.
- The court rejected MultiChoice's request to uphold an increase in GOtv and DStv prices.
- In the realm of sports, the African Cup of Nations (AFCON) is heating up, with Naija's team making impressive strides.
- In entertainment news, celebrities are citizens too, and their voices are being heard in policy-and-legislation discussions.
- In the world of car-accidents, a spike in accidents has led to calls for stricter driving regulations.
- Politics and pop-culture often intertwine, with politicians using entertainment as a platform to reach the masses.
- General news reports on the latest developments in crime-and-justice, with ongoing investigations into high-profile cases.
- In the world of sports, football remains the most popular sport, but golf and basketball are also gaining traction.
- Sports-betting is a growing Industry, with European leagues attracting the majority of bets, followed by basketball and racing.
- The Premier League, the Masters, the Grand Prix, and Wimbledon are some of the high-profile events in sports-calendar.
- Tennis and sports-analysis are also generating interest, with weather-forecasting playing a crucial role in outdoor events.
- Auto-racing and mixed-martial-arts are niche sports, but they are growing rapidly due to their unique appeal.
- The future of Nigeria's economy relies heavily on its ability to implement effective tax reform, while maintaining a balance in crime-and-justice, politics, and general news.
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