David Ndi

Financial Economist and Commercial Energy Negotiation Specialist. Research & Development.

[David Ndi @Princendidavid]

@Aiwithpoonam No

[David Ndi @Princendidavid]

@JayBisen473370 1

[FMDQ Group @FMDQGroup]

FMDQ Exchange Fixings (delayed by 24hrs) - NITTY and NIBOR as at June 11, 2025.

[Taiwo Oyedele @taiwoyedele]

𝐓𝐇𝐄 𝐓𝐀𝐗 𝐑𝐄𝐅𝐎𝐑𝐌 𝐁𝐈𝐋𝐋𝐒 𝐖𝐈𝐋𝐋 𝐁𝐄𝐍𝐄𝐅𝐈𝐓 𝐍𝐈𝐆𝐄𝐑𝐈𝐀𝐍 𝐖𝐎𝐑𝐊𝐄𝐑𝐒

We outline below some of the key provisions of the tax bills aimed at improving the welfare of workers:

𝑳𝒐𝒘𝒆𝒓 𝒕𝒂𝒙𝒆𝒔 𝒕𝒐 𝒆𝒏𝒉𝒂𝒏𝒄𝒆 𝒕𝒉𝒆 𝒅𝒊𝒔𝒑𝒐𝒔𝒂𝒃𝒍𝒆 𝒊𝒏𝒄𝒐𝒎𝒆 𝒐𝒇 𝒘𝒐𝒓𝒌𝒆𝒓𝒔 -

1) Full exemption for workers earning up to N1.3m p.a. (over N100k per month) representing not less than 35% of all workers in the private and public sectors from PAYE tax

2) Reduced PAYE tax for workers earning up to N20m p.a. (about N1.7m per month) benefiting additional 60% of all workers

3) Full PAYE tax exemption for members of the armed forces

𝑴𝒆𝒂𝒔𝒖𝒓𝒆𝒔 𝒕𝒐 𝒓𝒆𝒅𝒖𝒄𝒆 𝒕𝒉𝒆 𝒄𝒐𝒔𝒕 𝒐𝒇 𝒆𝒔𝒔𝒆𝒏𝒕𝒊𝒂𝒍 𝒊𝒕𝒆𝒎𝒔 -

4) Zero (0%) VAT on food, healthcare, and education representing about 60% of all consumptions

5) VAT exemption on rent, transportation, renewable energy, CNG, baby products, sanitary towels, and fuel products representing over 20% of all consumptions

These items constitute an average of 82% of household consumption and nearly 100% for low income earners to cushion the impact of rising cost of living for workers.

𝑰𝒏𝒄𝒆𝒏𝒕𝒊𝒗𝒆𝒔 𝒕𝒐 𝒇𝒂𝒄𝒊𝒍𝒊𝒕𝒂𝒕𝒆 𝒉𝒊𝒈𝒉𝒆𝒓 𝒄𝒐𝒎𝒑𝒆𝒏𝒔𝒂𝒕𝒊𝒐𝒏 𝒇𝒐𝒓 𝒘𝒐𝒓𝒌𝒆𝒓𝒔 -

6) Tax break for wage awards and transport subsidy to low-income earners

7) Removal of restrictions and bureaucratic approvals for wage awards

8) Introduction of a cap on the amount that may be taxed as benefit in kind granted to workers

𝑻𝒂𝒙 𝒘𝒂𝒊𝒗𝒆𝒓𝒔 𝒕𝒐 𝒑𝒓𝒐𝒎𝒐𝒕𝒆 𝒂𝒇𝒇𝒐𝒓𝒅𝒂𝒃𝒍𝒆 𝒉𝒐𝒖𝒔𝒊𝒏𝒈 -

9) VAT exemption on rent and acquisition of real property

10) Exemption of stamp duties on rent below N1m

𝑰𝒏𝒄𝒆𝒏𝒕𝒊𝒗𝒆𝒔 𝒕𝒐 𝒔𝒕𝒊𝒎𝒖𝒍𝒂𝒕𝒆 𝒆𝒎𝒑𝒍𝒐𝒚𝒎𝒆𝒏𝒕 𝒐𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒇𝒐𝒓 𝒘𝒐𝒓𝒌𝒆𝒓𝒔 -

11) Tax incentives for employers to hire more workers

12) Friendly tax rules to attract international remote work opportunities for Nigerians

13) Tax exemption for 97% of SMEs earning annual turnover of N100m or less, harmonisation and reduction of corporate tax burden for large businesses to stimulate growth and create more employment opportunities for workers.

These changes deserve to be supported by everyone who seeks the well-being of Nigerian workers. We believe that the NLC and the TUC will not intentionally work against the interest of their members.

Happy belated workers’ day!

-- 𝘗𝘳𝘦𝘴𝘪𝘥𝘦𝘯𝘵𝘪𝘢𝘭 𝘍𝘪𝘴𝘤𝘢𝘭 𝘗𝘰𝘭𝘪𝘤𝘺 & 𝘛𝘢𝘹 𝘙𝘦𝘧𝘰𝘳𝘮𝘴 𝘊𝘰𝘮𝘮𝘪𝘵𝘵𝘦𝘦

[NDPHC @ndphconline]

Today, we celebrate the strength, resilience, and boundless potential of every girl child around the world.

Together, we can create a world where every girl can shine and achieve their dreams.

#InternationalDayoftheGirlChild #ndphconline

[NDPHC @ndphconline]

The management of @ndphconline led by the Managing Director, Engr. Jennifer Adighije @jenniadighije visits Compagnie Energie Electrique du Togo (CEET Togo) on a working visit.

[NERC Nigeria @NERCNG]

The Nigerian Bulk Electricity Trading (NBET) Plc. and the Market Operator (MO) issue invoices to Distribution Companies (DisCos) for electricity purchased from Generation Companies (GenCos) and supplied to electricity consumers. In 2023/Q4, DisCos paid 69.88% of the total invoices issued by the NBET and MO.

For more details visit https://t.co/0Z25vKqcau to download the NERC 2023/Q4 Report.

#NERC #QuarterlyReport #CustomerProtection #GenCos #DisCos #Regulation #electricity #NESI

[David Ndi @Princendidavid]

@PastorEAAdeboye Amen!!!

[David Ndi @Princendidavid]

https://t.co/74OdC28v9j

[David Ndi @Princendidavid]

https://t.co/74OdC292YR

[Bammy @bammybae_]

FYI👇👇

Dr. Akindele Egbuwalo, the NPOWER National program manager, mentioned that the payment of the 9-month backlog to beneficiaries would begin in November. He didn't specify November 1st or the first week of November. So, beneficiaries should remain patient because we're still in November. If you haven't been paid by the end of November, that's when you should raise your concerns.

[David Ndi @Princendidavid]

@ndphconline Happy Independence and New Month!

[David Ndi @Princendidavid]

Nigeria’s External Reserves dropped by $2.9bn in Q2, 2023.

[Nairametrics @Nairametrics]

BREAKING: Nigeria’s external reserve fall by $2.9 billion in H1 2023, the most in 6 years - https://t.co/k5heC9ubf7

[StatiSense @StatiSense]

THE NIGERIAN CAPITAL MARKET

Half Year Report 2023
Market Capitalization: ₦59.92 trillion, a 17.05% growth YTD

The Market is made of 2 Components:
1 Bonds & Exchange Trade Fund
2 Equities

Bonds & ETF: ₦26.71 trillion, a 15.03% growth YTD

Equities: ₦33.20 trillion, a 18.73% growth YTD

The EQUITIES Market comprises of 9 Sectors: Market Cap & YTD Growth
1 ICT: ₦10.6tn, grew by 0.35%
2 Industrial Goods: ₦8.61tn, 3.82%
3 Financial services: ₦5.9tn, 50.6%
4 Consumer goods: ₦5.02tn, 51.7%
5 Oil & Gas: ₦1.15tn, 40.6%
6 Utilities: ₦750bn, 101.3%
7 Agriculture: ₦38.8%
8 Services: ₦352.6bn, 156.3%
9 Conglomerates: ₦220.5bn, 94.4%
10 Construction/Real Estate: ₦100.1bn, 21.6%
11 Healthcare: ₦63.5bn, 45.6%
12 Natural resources: ₦7.97bn, 13.3%

7 Most Capitalized Companies
1 MTN: ₦5.56tn
2 Airtel: ₦4.96tn
3 Dangote Cement: ₦4.86tn
4 BUA Cement: ₦3.12tn
5 BUA Foods: ₦2.44tn
6 Zenith Bank: ₦1.08tn
7 GTCO: ₦1.03tn

#StatiSense
(NGX)

[David Ndi @Princendidavid]

@Sohiare @hadizabalausman Congratulations madam …

[David Ndi @Princendidavid]

@ProfOsinbajo Congratulations Prof. We really appreciate your contributions to welfare and democratic course in Nigeria, west Africa and the world at large. May the almighty God strengthen you and yours ….

[World of Statistics @stats_feed]

Unemployment rate:

🇿🇦 South Africa: 32.7%
🇪🇸 Spain: 13.26%
🇹🇷 Turkey: 10%
🇧🇷 Brazil: 8.8%
🇮🇹 Italy: 7.8%
🇮🇳 India: 7.8%
🇫🇷 France: 7.2%
🇦🇷 Argentina: 6.3%
🇩🇪 Germany: 5.6%
🇮🇩 Indonesia: 5.45%
🇨🇳 China: 5.3%
🇨🇦 Canada: 5%
🇸🇦 Saudi: 4.8%
🇬🇧 UK: 3.8%
🇦🇺 Australia: 3.5%
🇷🇺 Russia: 3.5%
🇺🇸 US: 3.4%
🇯🇵 Japan: 2.8%
🇰🇷 South Korea: 2.6%
🇲🇽 Mexico: 2.4%
🇸🇬 Singapore: 1.8%

[Senator Shehu Sani @ShehuSani]

In the beginning,we will create millions of https://t.co/KwXZX1jv5z the middle,we have created millions of https://t.co/KwXZX1jv5z the end,it’s not our responsibility to create jobs.

[Roc-b @Lordofcruise_]

This is what you get when you try to snatch ballot box 🤌😒

No Labour Party Surulere Delete Obi Won

[YabaLeftOnline @yabaleftonline]

No Labour party logo on some ballot paper for Senatorial election in Lagos state.