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Stamp Duty: FG to Support States to Recover Backlog

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Abubakar Malami, Minister of Justice

 

The Federal Government of Nigeria has expressed readiness to provide the much-needed support any States of the country, as may be required, in a bid to recover the backlog of Stamp Duty and generate more revenue to the country.

Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN who made this known also called for the support and cooperation of the Attorney-Generals of the thirty-six states in-country and the Joint Tax Board on the proposed audit and recovery of the backlog of stamp duties from 15th January 2016 to 39th June 2020.

This is contained in a statement issued by Dr. Umar Jibrilu Gwandu, Special Assistant on Media and Public Relations, Office of the Attorney-General of the Federation and Minister of Justice made available to newsmen on Tuesday the 11th day of August 2020.

The media attack on me, a burden of leadership-Malami 

According to the statement, Malami made the call at the virtual meeting with the States Attorney-Generals and the Chairman, Federal Inland Revenue, and the Members of the Joint Task Board on Tuesday the 11th day of August 2020.

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The Minister cited Section 111 of the Stamp Duty Act which states that “ all duties, fines, penalties, and debts due to the Government of the Federation imposed by this Act shall be recoverable in a summary manner in the name of the Attorney General of the Federation or the State”.

Malami noted that it is permanent to note that by Paragraph 7, Item B of Part II of the Second Schedule to the Constitution and Section 4(2) of Stamp Duty Act, the State Governments are empowered to collect stamp duties in respect of transactions between individuals residing in their respective States.

It may be recalled that the Federal Government has set up an Inter-Ministerial Committee on the Audit and Recovery of backlogs of stamp duties.  The Committee, Chaired by the Office Attorney-General of the Federation and Minister of Justice; Abubakar Malami, SAN was inaugurated by the Secretary to the Government of the Federation, Boss Mustapha on Tuesday 30th June 2020.

Membership of the Committee was drawn from the Federal Ministry of Finance, Budget and National Planning, Office of the Accountant  General of the Federation, Secretary to the Government of the Federation, Revenue Mobilization, Allocation and Fiscal Commission, Nigerian Financial Intelligence Unit, Central Bank of Nigeria and Federal Inland Revenue Serve.

The Stamp Duties was originally captured in the Stamp Duties Act 1939 (Ordinance 41 of 1939) and amended by numerous Acts and various resolutions and contained in the Laws of the Federation of Nigeria 2004. Recently, the Finance Act 2019 amendment to the Stamp Duties Act, particularly Section 52-56 clearly defined the responsibilities for the administration of Stamp Duties in Nigeria and jurisdiction of participating taxing authorizes, as well as explained that the Federal Inland Revenue is the competent tax authority to administer, assess, collect, and account for stamp duty in the country.

 

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President Tinubu Returns to Nigeria After State Visit to Türkiye

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By Yusuf Danjuma Yunusa

President Bola Ahmed Tinubu returned to Abuja on Saturday evening, concluding a state visit to the Republic of Türkiye aimed at deepening bilateral relations.

The President’s aircraft arrived at the Presidential Wing of the Nnamdi Azikiwe International Airport at 8:55 p.m., as confirmed in a brief statement issued to State House correspondents.

During the visit, which began on Tuesday, President Tinubu held extensive discussions with Turkish President Recep Tayyip Erdoğan. The talks focused on enhancing cooperation in areas of shared interest, including defense, energy, and security.

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The presidential delegation included Foreign Affairs Minister Yusuf Maitama Tuggar, Attorney General and Minister of Justice Lateef Fagbemi, Minister of Defence Gen. Christopher Musa (retired), and National Security Adviser, Nuhu Ribadu.

The diplomatic engagement culminated in the signing of nine bilateral agreements, covering strategic sectors such as defense, energy, security, and research. These pacts are expected to bolster collaboration between the two nations.

The visit underscores the administration’s commitment to strengthening Nigeria’s international partnerships and advancing national interests through strategic diplomacy.

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ADC Accuses National Assembly of Delaying Electoral Bill to Sabotage 2027 Polls

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By Yusuf Danjuma Yunusa

The African Democratic Congress (ADC) has accused the National Assembly of employing delay tactics in passing the 2025 Electoral Bill.

In a statement signed by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, the ADC highlighted various amendments to the Electoral Act 2022 that carry serious eligibility and compliance risks for political parties if not enacted on time.

The party also noted that new provisions involving mandatory electronic voter accreditation and the transmission of results are minimum requirements on which the credibility of the 2027 elections depends and must not be undermined by unnecessary filibustering.

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“The African Democratic Congress (ADC) is deeply concerned by the continued prevarications of the National Assembly over the 2025 Electoral Bill. Failure to promptly pass the bill for presidential assent raises suspicions that the legislature, which is dominated by the APC, is deliberately delaying key amendments, especially those intended to make future elections more difficult to rig.”

“The ADC also notes that some of the proposed amendments introduce new compliance and eligibility requirements that must be fully understood and met by political parties. Failure to allow sufficient time to study and implement these provisions, beyond what is publicly available, could have serious consequences for both political parties and the Independent National Electoral Commission (INEC). Lack of clarity in the electoral guidelines would not only create potential booby traps for opposition parties, but also make it difficult for INEC to prepare and issue clear rules within the required timeframe.

“For example, the provision requiring INEC to publish election notices at least 360 days before the general election remains in effect. This means that even now, there is very little time left for adequate preparation and compliance.

“The ADC therefore calls on the National Assembly to pass the bill without further delay. Any postponement risks the integrity of the 2027 general elections and undermines confidence in the entire electoral process. Nigeria cannot afford another acrimonious or dubious election.

“The ADC also urges civil society organisations, international partners, and all political parties committed to accountable democratic governance to pressure the National Assembly to act swiftly, as Nigerians cannot afford another election cycle without these essential safeguards.”

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Dangote’s Single Train Refinery, Epileptic Pricing Will Throw Nigeria Into Major Economic Crisis – Spectrum of Marketers

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A spectrum of marketers across the downstream oil industry, along with industry watchers, analysts and unions have expressed concerns about the incessant price instability and uncertainty in the supply, distribution, and retailing of petroleum products across the country. This worrisome trend is creating panic in the industry.

This situation is evolving as a result of underlying structural factors bedevilling the industry over the last year.

The industry watchers raised alarm over what they described as the looming danger posed by Dangote Refinery’s single-train structure and unstable pricing regime, warning that Nigeria could be plunged into a major economic crisis if urgent corrective measures are not taken.

Speaking exclusively to the press, an array of marketers noted that Dangote Refinery’s current operational model and pricing practices are inconsistent with the amended Petroleum Industry Act (PIA) and risks destabilizing the nation’s petroleum supply chain.

Concerns Over Pricing Fluctuations
On their part Independent marketers highlighted recent confusion in the petroleum industry, noting that the refinery’s ex-depot price jumped from ₦699 to ₦799, while pump prices have epileptically jumped from ₦731 to ₦920. They described this as “epileptic pricing” that creates uncertainty for marketers and consumers alike.

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Allegations of Anti-Competitive Practices
ThoseSome analysts and watchers have accused the Dangote Refinery of engaging in restrictive business practices, including monopolistic tendencies that can pose as barriers to entry for other players. They warned that such anti-competitive behaviour discourages investment, creates price wars, and ultimately undermines the sustainability of the petroleum sector.

“Petroleum is a macro product; its behavior affects all other products, including food. If competition laws and PIA provisions are not strictly enforced, businesses will collapse and the economy will suffer,” they cautioned.

They noted that Dangote’s refinery, with its 650,000 barrels per day capacity, operates as a single-train facility, meaning the entire output depends on one processing line. They explained that this design leaves the refinery vulnerable to disruptions, as any technical fault could halt production entirely.

“The catalytic unit is already down. This shows the danger of relying on a single train. Nigeria requires about 70 million litres per day according to updates by NMPDRA, but Dangote is currently supplying less than 35 million litres. This shortfall exposes the country to energy crises,” they said.

The Unions urged the federal government and the National Assembly to enforce strict compliance with PIA laws, stressing that the legislation was designed to ensure a “win-win” situation for all stakeholders in the petroleum industry.

They also noted that unless the refinery adopts a multi-train structure and pricing transparency, Nigeria’s petroleum supply-demand balance could collapse, triggering wider economic instability.

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