Ismail Salihu

561 posts

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Ismail Salihu

Ismail Salihu

@IsmailFarid01

An Economist and advocate for good governance.

Abuja-Nigeria Katılım Mayıs 2014
239 Takip Edilen35 Takipçiler
Abubakar Malami NEWS
Abubakar Malami NEWS@Abia_stateADC·
THE ASSAULT ON THE RULE OF f LAW : HOW CAN NIGERIA PROGRESS?
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Hon Nuhu Sada
Hon Nuhu Sada@NuhuSada0·
Current and Past Attorney Generals and Ministers of Justice of Nigeria Should Not Be Arrested or Prosecuted by EFCC or ICPC They Deserve Immunity. Those who understand the law and do not break it are meant to guide others, not be humiliated. Arresting Abubakar Malami SAN at this time appears politically motivated being in opposition is not a crime.
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@taiwoyedele This government is a pure fraud. I regret supporting Tinubu during the election. If this tax scale goes through, Nigerians should expect a form of tax. God will surely deliver us from this insensitive government one day, and that day is very near.
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Taiwo Oyedele
Taiwo Oyedele@taiwoyedele·
𝐓𝐡𝐞 5% 𝐒𝐮𝐫𝐜𝐡𝐚𝐫𝐠𝐞 𝐨𝐧 𝐅𝐮𝐞𝐥: 𝘞𝘩𝘢𝘵 𝘪𝘴 𝘵𝘳𝘶𝘦 𝘢𝘯𝘥 𝘸𝘩𝘢𝘵 𝘪𝘴 𝘯𝘰𝘵? This note seeks to clarify matters arising regarding the 5% fuel surcharge in the new tax laws. The charge is not a new tax introduced by the current administration. The provision already exists under the Federal Roads Maintenance Agency (Amendment) Act, 2007. Its restatement in the new Tax Act is for harmonisation and transparency rather than immediate implementation. We outline the frequently asked questions below and provide clarifying explanations. 𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐭𝐥𝐲 𝐀𝐬𝐤𝐞𝐝 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐐1. 𝐈𝐬 𝐢𝐭 𝐭𝐫𝐮𝐞 𝐭𝐡𝐚𝐭 𝐓𝐢𝐧𝐮𝐛𝐮’𝐬 𝐚𝐝𝐦𝐢𝐧𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐢𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐞𝐝 𝐚 5% 𝐬𝐮𝐫𝐜𝐡𝐚𝐫𝐠𝐞 𝐨𝐧 𝐟𝐮𝐞𝐥? A1. No. The surcharge is not new. It already exists under the Federal Roads Maintenance Agency (Amendment) Act, 2007 (FERMA Act). The new Tax Act only restates it for harmonisation and transparency. Hence, it was not part of the original tax reform bills submitted by the president to the National Assembly. 𝐐2. 𝐃𝐨𝐞𝐬 𝐭𝐡𝐢𝐬 𝐦𝐞𝐚𝐧 𝐭𝐡𝐞 𝐬𝐮𝐫𝐜𝐡𝐚𝐫𝐠𝐞 𝐰𝐢𝐥𝐥 𝐜𝐨𝐦𝐦𝐞𝐧𝐜𝐞 𝐢𝐧 𝐉𝐚𝐧𝐮𝐚𝐫𝐲 2026 𝐰𝐡𝐞𝐧 𝐭𝐡𝐞 𝐧𝐞𝐰 𝐭𝐚𝐱 𝐥𝐚𝐰𝐬 𝐭𝐚𝐤𝐞 𝐞𝐟𝐟𝐞𝐜𝐭? A2. No. The surcharge does not take effect automatically with the new tax laws. It will only commence when the Minister of Finance issues an order published in the Official Gazette as stated under Chapter 7 of the Nigeria Tax Act, 2025. This safeguard ensures careful consideration of timing and economic conditions before implementation. 𝐐3. 𝐖𝐢𝐥𝐥 𝐭𝐡𝐞 𝐬𝐮𝐫𝐜𝐡𝐚𝐫𝐠𝐞 𝐚𝐩𝐩𝐥𝐲 𝐭𝐨 𝐚𝐥𝐥 𝐟𝐮𝐞𝐥 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐬? A3. No. Several energy products used by households are exempt. This includes household kerosene, cooking gas (LPG), and compressed natural gas (CNG). Clean and renewable energy products are also excluded to align with Nigeria’s energy transition agenda. 𝐐4. 𝐖𝐡𝐲 𝐧𝐨𝐭 𝐚𝐛𝐨𝐥𝐢𝐬𝐡 𝐭𝐡𝐞 𝐜𝐡𝐚𝐫𝐠𝐞, 𝐠𝐢𝐯𝐞𝐧 𝐭𝐡𝐞 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐡𝐚𝐫𝐝𝐬𝐡𝐢𝐩 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐫𝐢𝐬𝐤 𝐨𝐟 𝐡𝐢𝐠𝐡𝐞𝐫 𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧? A4. The surcharge is designed as a dedicated fund for road infrastructure and maintenance. If implemented effectively, it will provide safer travel conditions, reduce travel time and cost, lower logistics costs and vehicle maintenance expenses, which will benefit the wider economy. This practice is virtually universal with over 150 countries imposing various charges ranging between 20% to 80% of fuel products to guarantee regular investment in road infrastructure. 𝐐5. 𝐖𝐡𝐲 𝐜𝐚𝐧’𝐭 𝐬𝐚𝐯𝐢𝐧𝐠𝐬 𝐟𝐫𝐨𝐦 𝐟𝐮𝐞𝐥 𝐬𝐮𝐛𝐬𝐢𝐝𝐲 𝐫𝐞𝐦𝐨𝐯𝐚𝐥 𝐛𝐞 𝐮𝐬𝐞𝐝 𝐢𝐧𝐬𝐭𝐞𝐚𝐝? A5. While subsidy savings will provide some funding, they are insufficient to meet Nigeria’s huge and recurring road infrastructure needs among other public finance needs. A dedicated fund ensures reliable and predictable financing for roads, complementing the budget and ensuring roads are not left underfunded. 𝐐6. 𝐈𝐬𝐧’𝐭 𝐭𝐡𝐢𝐬 𝐚𝐭 𝐨𝐝𝐝𝐬 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞 𝐫𝐞𝐟𝐨𝐫𝐦 𝐨𝐛𝐣𝐞𝐜𝐭𝐢𝐯𝐞 𝐨𝐟 𝐫𝐞𝐝𝐮𝐜𝐢𝐧𝐠 𝐭𝐚𝐱𝐞𝐬 𝐚𝐧𝐝 𝐞𝐚𝐬𝐢𝐧𝐠 𝐭𝐡𝐞 𝐛𝐮𝐫𝐝𝐞𝐧 𝐨𝐧 𝐜𝐢𝐭𝐢𝐳𝐞𝐧𝐬? A6. Not at all. The reforms have already reduced multiple taxes and removed or suspended several charges that directly affect households and small businesses, such as VAT on fuel, excise tax on telecoms, and the cybersecurity levy. By harmonising earmarked taxes, government is reducing duplication and ensuring a more efficient tax system. 𝐐7. 𝐖𝐡𝐲 𝐧𝐨𝐭 𝐣𝐮𝐬𝐭 𝐚𝐦𝐞𝐧𝐝 𝐭𝐡𝐞 𝐅𝐄𝐑𝐌𝐀 𝐀𝐜𝐭 𝐭𝐨 𝐫𝐞𝐦𝐨𝐯𝐞 𝐭𝐡𝐞 𝐬𝐮𝐫𝐜𝐡𝐚𝐫𝐠𝐞? A7. Yes, the surcharge has been removed from the FERMA Act and incorporated into the new tax laws which are designed to provide a forward-looking legal framework for Nigeria. Keeping this provision in place within a harmonised legal framework ensures Nigeria is prepared to address critical challenges, such as sustainable road financing and even climate change impacts. It is not about immediate implementation, but to ensure the law provides a clear and effective framework for when it becomes necessary in the future. - 𝑷𝒓𝒆𝒔𝒊𝒅𝒆𝒏𝒕𝒊𝒂𝒍 𝑭𝒊𝒔𝒄𝒂𝒍 𝑷𝒐𝒍𝒊𝒄𝒚 & 𝑻𝒂𝒙 𝑹𝒆𝒇𝒐𝒓𝒎𝒔 𝑪𝒐𝒎𝒎𝒊𝒕𝒕𝒆𝒆
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@ruffydfire You are always happy when things are not working in Nigeria just to have negative thing to tweet. Are you a sadist?
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oseni rufai
oseni rufai@ruffydfire·
Kindly name everyone that said the refinery is working when they know what happened
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@_dinomelaye Dino is aging rapidly. I hope you will be one of the lawyers to defend Atiku in 2027 for election dispute.
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@DeeOneAyekooto Peter Obi is addicted to lies. He can never change. Unfortunately for him, each time he lies, he gets exposed. He can't still shut up his mouth.
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Ayekooto
Ayekooto@DeeOneAyekooto·
“I never met Abacha…” Peter Obi
Ayekooto tweet media
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@DeeOneAyekooto This is embarrassing. The man doesn't have a good adviser. I hope he knows that people are wiser than this
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Ayekooto
Ayekooto@DeeOneAyekooto·
"I'm not desperate to be President...." Obi insists as he serves other guests at a public event
Ayekooto tweet media
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@adanwachinemelu @firstladyship @PeterObi The North will rather vote Tinubu than Peter Obi. The North wants the Presidency back in the next 4 years but giving their votes to Obi will not give them that confidence.
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Ada Nwachinemelu
Ada Nwachinemelu@adanwachinemelu·
@firstladyship I believe you, but my main concern is how we can recover most of the things he stole as Nigeria's illegal president. I genuinely hope @PeterObi is already putting on paper plans that he will put in motion come 2027 That man and his cohorts must not be allowed to go scot-free ☹️
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NEFERTITI
NEFERTITI@firstladyship·
Bola Tinubu is a one-term president. I’ve seen some strongest voices in the North move into the ADC. It will take a miracle for BAT to retain 30% in the North. His only hope is Southern Solidarity & the Middle Belt. The North are not going to vote for him. Their mind is made up.
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@little_finger_c @firstladyship The North will never vote Peter Obi. They would rather give their votes to Tinubu to complete the South's 8 years and then the presidency gets back to the North than giving Peter the votes. They can't truth Obi with just a term.
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Spyro Gyra
Spyro Gyra@little_finger_c·
@firstladyship It will only take ADC putting Peter Obi forward to put the final nail in the coffin.. The entire SE, a major part of SS and NC will be essentially gone.
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@irahabib That is why many of us refused to be swayed by her claim. If you look at the issue critically & objectively, it becomes difficult to believe Natasha was ever harassed sexually.
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Engr Ira Habib
Engr Ira Habib@irahabib·
I am not a legal practitioner, but can someone actually get justice through a social media trial instead of the court? I am curious bcos I don’t understand why a legal practitioner who is seeking justice would avoid going through the court system but instead resort to TV stations
Engr Ira Habib tweet media
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@jrnaib2 Atiku is coming every four years. You guys should be ashamed of yourselves by now.
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@channelstv I don't just understand how the people that are supposed to know better reason most times. Hmmm
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Damilola🌺
Damilola🌺@thebigdammy·
10k for whoever gets this correctly.
Damilola🌺 tweet media
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Abdul-Aziz Na'ibi Abubakar
The support for Atiku Abubakar is spreading like a wildfire. Bola Tinubu should better start preparing his handover notes!
Abdul-Aziz Na'ibi Abubakar tweet media
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@JustKingss N250,000 to pay my house rent and have peace of mind as my landlord is on my neck with threats to render me homeless.
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JUST KINGS
JUST KINGS@JustKingss·
What can someone gift you that will make your 2025 start better? Someone might surprise you.
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@Benking443 Obi's words cannot be trusted. That is my only problem with him. Too much lies.
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Benkingsley Nwashara
Benkingsley Nwashara@Benking443·
Peter Obi said that some of his colleagues are afraid to respond to his greetings in the airport because they're afraid of being seen and blacklisted by the current govt for associating with him. The dark evil forces hovering around this country is stupendous.
Benkingsley Nwashara tweet media
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@ruffydfire Rufai, you are still crying over this since 2022? O ma se fun e o. You are just being bittered but unfortunately, I can't do anything about it.
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oseni rufai
oseni rufai@ruffydfire·
Only in Nigeria will someone brag that he did well in school and he’s a first class brain and at the same time, the same the person will say releasing his school results will cause him irreparable harm and many Nigerians that bore the brunt of the mid night oil, lacerated with many induced carry overs and spend years looking for jobs in a dwindling job market will still support that person.
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@jrnaib2 Atiku would have made No 1 the most corrupt president globally. Thank God Nigerians rejected him.
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Abdul-Aziz Na'ibi Abubakar
Imagine waking up to the news that president of your country ranked 3rd world’s most corrupt, organised crime Persons of the Year in 2024? We must change this man and his evil party come 2027!
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Ismail Salihu
Ismail Salihu@IsmailFarid01·
@ruffydfire You are simply a sadist. I wonder the kind of journalism you practice if you can't be objective in your submissions.
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oseni rufai
oseni rufai@ruffydfire·
Journalism is accountability.A government that deflects from accountability is a failing government. Its over 34% inflation on the first day of the year. As you eat your new year chicken do you know so many people can't eat because of inflation. That's journalism, reminding you that because your life is OK doesn't mean others are OK.
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