By Muhammad Nur Tijani

The Kano State Board of Internal Revenue (KIRS) is targeting an Internally Generated Revenue (IGR) of N200 billion through a tax reform that leverages the National Identification Number (NIN).

The Executive Chairman of KIRS, Dr Zaid Abubakar, made this known while addressing stakeholders at a recognition ceremony for individuals and organisations whose efforts have supported the agency’s achievements despite prevailing challenges.

According to him, KIRS has made significant strides since 2024 in the areas of tax compliance, revenue generation, and efficient service delivery, due to sustained reforms and support from relevant partners.

One of the notable milestones, he said, was the deployment of a new electronic tax system which integrates the National Identification Number (NIN) as a prerequisite for registration.

“This system has contributed to the steady increase in NIN enrolment in the state. As of today, we have recorded 10.2 million NIN enrolees in Kano,” he said.

The chairman added that KIRS was on a mission to register no fewer than two million taxpayers, each contributing a minimum of N100,000 annually, which would generate an estimated N200 billion in Internally Generated Revenue (IGR).

“We have been deliberate in ensuring that our tax system incorporates the NIN to eliminate identification challenges. With a robust database, we can ensure transparency and accountability in tax administration,” he said.

He said Kano is currently trailing only Lagos State in terms of tax revenue but expressed confidence that Kano would surpass Lagos due to its population advantage and ongoing reforms.

“Imagine having six million registered and active taxpayers in Kano each contributing N100,000 annually – that would give us N600 billion annually, which is a huge sum,” he said.

The KIRS boss reaffirmed the agency’s commitment to boosting IGR in Kano and commended Governor Abba Kabir-Yusuf for providing the necessary support, cooperation and an enabling environment to drive reforms in the sector.

The News Agency of Nigeria (NAN) reports that Isa Yargaya, emerged as the Staff of the Year, receiving a cash prize of N1.5 million and a Renewed Hope house from the state government.

The second runner-up, Zaradeen Umar, received N1 million and a Renewed Hope house, also donated by the state government.

Ten other outstanding staff members were also recognised and received awards. (NAN)(www.nannews.ng)

Edited by Sadiya Hamza

By Ese William

The newly elected President of the African Development Bank (AfDB), Mr Sidi Ould Tah, has pledged to serve the continent with humility and a deep sense of duty.

Tah said this in his acceptance speech delivered before African finance ministers, governors of the bank, and dignitaries at the AfDB Annual Meetings in Abidjan, Côte d’Ivoire on Thursday.

He expressed profound gratitude to African nations for the confidence reposed in him.

“It is with great humility and a sense of responsibility that I speak to you at this special moment.

“I will like to thank Africa for the trust it has placed in me. I fully appreciate the responsibility and duty that come with it,” he said.

He paid special tribute to his home country, Mauritania, and President Mohamed El-Ghazaouani, whose strong support and diplomatic outreach were instrumental in securing his election.

“I thank my country and President El-Ghazaouani, who supported my candidacy and made tireless efforts to ensure the success we have just witnessed,” he said.

The new AfDB president also acknowledged the unwavering solidarity shown by Africans across the continent and extended heartfelt appreciation to his campaign team for their commitment throughout the election process.

“I will like to make a special mention of my team, who did a remarkable job from beginning to end. I express my deepest gratitude to them,” he said.

While he recognised the many individuals and groups who supported his candidacy, Tah emphasised that the time for celebration was over and called for immediate action.

“Now, let us go to work! I am ready,” he said.

The News Agency of Nigeria (NAN) reports that Tah succeeds Dr Akinwumi Adesina.

Adesina had served two successful terms and was widely praised for expanding the bank’s capital base and amplifying its development impact across the continent.

Experts say Tah’s tenure begins at a time when the continent was grappling with multiple economic challenges, including climate shocks, debt distress, and the urgent need for sustainable infrastructure financing.

As he steps into this pivotal role, expectations are high that Tah will continue to strengthen the AfDB’s role as a cornerstone institution for Africa’s development and integration. (NAN)(www.nannews.ng)

Edited by Kadiri Abdulrahman

By Kadiri Abdulrahman

The Debt Management Office (DMO) says the recently issued Series VII Sovereign Sukuk valued at N300 billion attracted N2.205 trillion subscription.

The DMO said this represents a 735 per cent subscription level, a clear evidence of the huge investor-appetite for the ethical instrument it introduced in 2017.

“The Sovereign Sukuk was introduced as an innovative strategy to expand the nation’s investor-base and provide opportunities for all Nigerians to participate in the capital market.

“An analysis of the subscriptions showed that subscribers cut across various segments of the public: retail, non-interest banks and financial institutions, banks, pension fund administrators and asset managers,” the office said.

The DMO said that, like the previous series, funds realised from the issuance would be used by the Federal Government to construct new roads and rehabilitate existing ones.

“The funds will also be used to build bridges in the six geopolitical zones of the country and the Federal Capital Territory.

“The raising of funds through Sukuk to finance infrastructure projects aligns with Mr President’s Renewed Hope Agenda of which infrastructure development is a key pillar,” it said.

The debt office expressed its commitment to providing safe and liquid investment products to the public and supporting the Federal Government’s development plans.

The News Agency of Nigeria (NAN) reports that the DMO had, on May 12, hosted an investor meeting for the issuance of N300 billion series seven Sovereign Sukuk in Abuja.

The Director-General of the DMO, Patience Oniha, had said that since inception in 2017, Sukuk had become a product of choice for non-interest investors in the capital market.

According to Oniha, the acceptance of the Sukuk is an attestation of one of the major roles of the DMO to develop the domestic capital market, while also raising funds for the Federal Government.

She said that the Federal Government had been able to raise a total of N1.09 trillion through the Sovereign Sukuk since 2017, to support infrastructure development.

She recalled that the first Sukuk was issued in September 2017, adding that after extensive marketing, the offer, which was for N100 billion with a tenor of seven years received a total subscription of N105.878 billion.

“Following the modest success of the first Sukuk and the achievement recorded from September 2017 to December 2023, when the last Sukuk was issued, the DMO has raised a total of N1.09 trillion.

“With this amount, more than 4,100 km of roads and nine bridges across the six geo-political zones in Nigeria and the Federal Capital Territory (FCT) have either been constructed or rehabilitated,” she said.

Oniha said that the projects had brought substantial benefits, including reduced travel time improved road safety and job creation.

She said that the projects also created improved access to markets for remote farmers, increased access to public services like education and healthcare, and economic development as a whole.

“In addition to those benefits, other reasons for the sustained issuance are the fact that the Sukuk is project-tied, promotes financial inclusion and contributes to the development of the domestic financial market,” she said.

She said that the Sukuk had been well accepted as demonstrated by the level of subscription received in the past.

According to her, investors get fulfilment of contributing to infrastructure development and also get a return in terms of income which is paid every six months. (NAN)(www.nannews.ng)

Edited by Isaac Aregbesola

By Lucy Ogalue

The Federal Government has expressed its commitment to unlocking the full potential of Nigeria’s industrial transformation through strategic human capital development.

The Minister of State for Industry, Sen. John Enoh, expressed this commitment while inaugurating seven planning committees for the forthcoming National Industrial Manpower Summit in Abuja.

Enoh said that the summit marked a decisive step towards repositioning Nigeria’s industrial trajectory through skilled and globally competitive manpower.

“This initiative is not just an event, it is a declaration of intent.

“It signals our collective resolve to ensure Nigeria’s industrial growth is powered by people, skilled, equipped, and future-ready alongside infrastructure and sound policy,” he said.

The minister expressed the ministry’s commitment in positioning Nigeria as a continental hub of industrial excellence.

He said that ongoing reforms were geared toward removing structural bottlenecks, attracting investment, and enhancing value-added production.

“But capital and policy are not enough. We must have a workforce that can power the engines of innovation, manufacturing, and enterprise,” he said.

According to Enoh, the summit will serve as a convergence point for government, industry, academia, and international partners to redesign Nigeria’s industrial skills framework.

“The focus will include curriculum reform, digital literacy, technical certifications, and green economy competencies key to meeting the demands of the Fourth Industrial Revolution.

“Under the Renewed Hope Agenda of President Bola Tinubu, industrialisation has become central to Nigeria’s economic policy, with significant investments being made in vocational training and skills development across the country.

“The President believes that the most important infrastructure of any nation is its people.

“This summit must, therefore, set a generational standard for inclusive industrial growth and meaningful employment,” he said.

The Senior Special Assistant to the President on Industrial Training and Development, Adamson Ayinde, said that the summit would help reposition Nigeria’s economy by addressing the industrial manpower gap.

“As Nigeria strives to diversify its economy, the industrial sector becomes a key pillar for sustainable growth.

“However, success in this sector depends on having a skilled, adaptable, and innovative workforce,”he said.

Ayinde highlighted four key objectives for the summit: assessing the current industrial workforce, engaging stakeholders, formulating strategic policies, and promoting innovation and technology adoption within the sector.

He charged the planning committee to develop an impactful agenda, coordinate stakeholders, mobilise resources, manage logistics, and ensure post-summit follow-up to drive implementation.

Also speaking, the Director-General of the Industrial Training Fund (ITF), Dr Oluwatoyin Ogun, stressed the importance of ending the importation of skilled labour into Nigeria.

He said that the ITF had commenced the retraining of Nigerian artisans under the SUPA programme to meet global standards.

“The ITF fully supports this initiative. It aligns with our mandate and the President’s vision for a skilled workforce that supports economic growth,” Ogun said.

Responding, the Planning Committee Chairman, Mr Abdulghani Arobo, said that the committee would deliver a transformative summit and fulfil the expectations of all stakeholders.

“This is the first time a national conversation is being held around industrial manpower development.

“We are determined to make this summit a success and to build a new foundation for Nigeria’s industrial future,” he said.

The News Agency of Nigeria (NAN) reports that the summit committee includes members from the Ministry of Industry, Trade and Investment, ITF, Bank of Industry, NSITF, SMEDAN, labour unions, and the private sector. (NAN)(www.nannews.ng)