Chai! See as Naija don sign new agreement with China again o! Dem don renew di currency swap deal, and this time di total amount na N3.28 trillion (that na about 15 billion yuan or $2.09 billion). Na People’s Bank of China (PBOC) and Central Bank of Nigeria (CBN) join their head together to do this one.

Di wahala wey we dey face for dollar shortage go begin reduce small small, as China don agree make Naija use naira for trade instead of dollar. Before, every time Naija wan buy anything from China, e go dey find Aboki to change naira to dollar, and dat one dey cause wahala, especially when dollar dey fly go up like wili wili.

But with dis new deal, naira go be di main currency wey Naija go dey use buy some thing from China. Dis one na good news for everybody wey dey struggle to get dollar just to buy small small things.

But wait o, why China go agree do dis swap deal? Why dem go wan collect naira for trade instead of dollar? Truth be say, China no dey do am just for charity or love for Naija; dem no be father Christmas wey dey give Awoof. Dem dey do business—plenty business. For China, dis na way to strengthen dem own role inside Africa. China sabi say Naija get plenty resources, like oil, wey dem go need for their own industries. So as dem agree to collect naira, China dey ginger to become di biggest player for African economy.

Now, how dis go benefit Naija? Well, you don hear how we dey suffer from dollar shortage, abi? Good. Every time you wan buy some thing from China, you go first run around like person wey chop pepper dey find water, just to get dollar.

But with dis currency swap, Naija go fit pay China directly in naira. E go reduce di stress to dey pursue Aboki, and e go also help Naija save money. As we no need to find dollar to buy from China, e mean say we go fit reduce di cost of financing wey go reduce cost of importation, and small businesses wey dey struggle to get foreign exchange go fit chillax.

But anything wey dey sweet fit dey kill. As dis swap deal resemble good news, e get some things wey we need to consider well well. One of dem be di way China fit use dis deal take control di situation. China sabi do business, dem no just dey do anything because of love. If Naija no handle di deal well, e fit no good.

For example, if di naira no dey stable, or if Naija no get enough foreign exchange to back am up, China fit use that one to pressure Naija, and e go make naira lose weight more pass hungry man.

So, before we dey happy say we don finally free ourself comot from dollar, we need to dey careful because China go dey watch how we go dey handle am. If naira continue to dey fall yakata, China fit do anyhow, and before you know am, maybe we go start to dey find another currency wey we go swap with. Hahahaha.

On top dat one, as we dey use di swap deal, you sabi say USA no too happy when any country try reduce use of US dollars for international trade. USA dey worried say if more countries follow Naija and China, dem go lose part of di control wey dem get for global finance.

USA dey watch this China-Nigeria currency swap deal like hawk. Dem dey feel say if too many countries begin to dey bone US dollars, e go weaken di dollar power for global trade. President-elect Donald Trump don even threaten to put tariffs on countries wey dey support other currencies to replace US dollar.

For di last few years, America don dey put pressure on countries like Brazil, India, and others wey dey try use other currencies, instead of US dollar. And now, China and Naija don come with their own plan to bypass dollar. You think say America go just fold hand and watch? No na! US no wan lose di power of dia dollar.

Dis fit lead to wahala for Naija too and E fit make us enter USA bad book, and USA fit begin dey pressure us to go back to di dollar system. America fit wake up one day con tell Naija, “Ah! Wetin una dey do with China? We no wan hear am again!”

USA fit put sanctions or fit bring new rules to stop di swap deal. As Naija go gain from di deal, Naija still need to dey careful not to vex USA.

But chill small! You sabi as critics get many things wey dem dey talk. Some of dem dey talk say dis currency swap no go solve Naija bigger wahala, say na like plaster on top bullet wound.

Dem talk say Naija problem no be only about forex. Dem dey hala say, “If Naija no fit produce common toothpick for inside di country, how we go sabi reduce import?” Dem dey para say we still dey import too many things wey we suppose dey produce locally.

Ok, make we assume say we dey import garri and pepper join other things wey we dey import, dat one go be bigger wahala. Critics dey shout say if Naija no start to produce things locally, di economy go dey weak like biscuit wey fall inside tea.

Another wahala wey dem dey talk about na di heavy loans wey Naija dey collect from China. Dem dey shout say, “China dey lend us money like person wey dey borrow salt, but when e reach time to pay back, we go fit?”

Dem dey fear say Naija go turn to another thing. Dem dey reason say dis kind borrowing fit put us for serious gbege if we no fit pay back. Na wetin dem call “debt trap.”

Dem critics dey worry say dis swap deal na way to cover up, say Naija still dey owe China plenty money. Dem dey wonder if di swap no be another way to tie Naija down with more Chinese loans and agreements. Dem dey talk say, “Borrow borrow no go fit solve our matter, make we use our head.”

Some people still dey reason say China dey use style dey influence Naija with di swap. Dem dey shout say, “China dey use us do ‘Beta Pikin’ project, how we go fit handle am?” Dem critics dey fear say China dey take advantage of Naija economic weakness to dey push dia own agenda, and dem no too trust wetin fit happen in the future as e be like say dia way no pure.

And dem dey vex say all di big big projects wey dem dey do no dey really solve grassroots problems. Dem dey talk say, “All di railway and big projects no bad, but what about light and water wey people need for house?” Dem dey argue say if dem no fix di basic infrastructure like power, clean water, and healthcare, all di big project no go make sense.

Dem dey talk say make Naija government no put all dia eggs for one basket. Na so dem dey talk am o, say, “As we dey follow China waka, make we still dey look other options, make we no put hand for one side alone.”

Na di kind things wey dem critics dey talk about o. E good make we still dey hear wetin dem dey talk, because dem fit get small point inside di plenty shout.

Na so di whole thing be. For now, Naija need to focus on how dem go fit manage di swap well, focus on how dem go fit balance di risks, to make sure say we no enter more gbese for di future.

President Bola Tinubu don ginger plenty talk for him first presidential chat wey happen since 18 months ago after him enter office. People dey analyze di chat anyhow – some people believe say e hit di matter well, while others dey feel say e miss road for some areas as e dodge debate before di 2023 election.

For di chat, e answer many questions wey senior journalists throway give am. Di matter touch plenty issues, economic wahala, security kasala, all join.

E sure for Tinubu say him answer direct for some areas, but talk for other areas, con be like say e get k-leg. For him talk about fuel subsidy removal, naira floating policy, and wetin him go gree cut down for inside di big government, na there di wahala start.

One senior lawyer, Mr. Ahmed Raji, SAN, talk say him dey support Tinubu wella for di bold steps him don take, especially di fuel subsidy matter and tax reforms. Di man tok am loud say, “If Nigeria wan see better, we suppose take tough decisions like these ones.”

According to am, di tax law wey we dey use get as e be, so e dey important to harmonize am well. But wait first, e still talk say dis subsidy palaver don cause stampede for some places.

People dey rush palliative like say tomorrow no dey. E point finger give di organizers say na dem mess up pass big time.

As people dey gbadu di military for North-west wey dey fight Lakurawas, Raji warn say, “If una touch di security ogas now, e go affect morale.” Because dat kain thing fit make dem slow.

But e no finish for there. Another senior lawyer, Rev. John Baiyeshea, SAN, dey vex wella for Tinubu response.

Di man tok say, “Tinubu no show say e dey feel di wahala wey People dey face. Him answer no dey coolu tempa and e no fit ginger hope for people wey him policies don scatter.”

E even yarn say di president dey form like say him position no dey shakable, and say dat kain level no good at all. Baiyeshea tok di one wey pain pass.

He say, “Fuel subsidy removal don cause hunger, frustration, and wahala. But instead make di president beg People for patience, e just yarn say e no dey go back on di policy.

Na wetin be dat one na?” Di man tok am as e dey vex for mind, say di president dey treat People anyhow without small pity.

PDP come enter matter, dey talk say Tinubu dey act like say e no sabi di suffering wey him policies dey cause. Debo Ologunagba, di party mouthpiece, tok say, “E dey clear say APC no sabi di meaning of government, as People dey die of poverty and hunger wey him policies cause.”

Di PDP still drag Tinubu for di chat, talk say e dey deny failure even as di economy dey collapse. Di Northern Elders Forum (NEF) sef no keep quiet.

Abdul-Azeez Suleiman tok say di chat dey informate, but him gree say some kain tins no too dey for wetin Tinubu plan do. He talk say, “We wan hear how e go tackle poverty, unemployment, and di root causes of insecurity.”

E make sense, but Tinubu no give di kain details wey dem dey find. Suleiman yarn di truth, say Tinubu dey talk about diversification of economy and small business growth, but e no use cutlass break am down for people to know how him wan make di thing happen.

E be like wetin dem dey call ‘talk no do.’ People dey expect policy breakdown, but di president no give.

Even di Legislative Consultant, Mr. Akinloye Oyebanji, yarn say di chat no sweet because e happen after 18 months of government. He tok say, “Na series of chats we need, not one wey go dey come once in blue moon.”

He believe say people suppose dey hear tori from presido every time. As di gist hot, people debate whether Tinubu plans carry water or na just big big grammar wey dey spoil weather dey change goal post.

For di subsidy removal matter, some people dey hail him boldness, others dey vex say di president no care how People dey take survive. Na di kain vexation be dat wey People dey carry waka.

Di talk about floating naira no sweet belle too. Di dollar don dey fly enter sky like witch, while naira still dey waka with bicycle, wahala dey for bicycle, and di whole thing dey shake di economy.

Food cost con high, unemployment everywhere, and some people just dey find renewed hope for where dem no keep am. Anyway, di chat spark plenty talk talk sha, and e clear say Tinubu presidency get many questions to answer.

People wan make him begin to dey do more chat regularly and make him begin to dey give better solutions to di problems wey dey face di country. Naija matter no be beans.

President Bola Ahmed Tinubu don send Tax Reform Bills go National Assembly make dem check am. Dis new bills dey try make the tax system easy and beta for all di people wey dey pay tax for Nigeria.

Di bills no just dey talk about normal tax mata but e include Nigeria Tax Bill, Nigeria Revenue Service (NRS) Establishment Bill, Nigeria Tax Administration Bill, and Joint Revenue Board (Establishment) Bill. Na all dis bills show say Tinubu and him team, wey Taiwo Oyedele dey lead, don try well well since Tinubu enter seat.

Di main aim be to make Nigeria revenue beta and make tax fair for all the people wey dey pay am. But as the bills land, 19 Northern governors don dey vex dey oppose the reform, especially for di idea wey go use derivation-based system to dey share di Value Added Tax (VAT) among di states.

Dem dey fear say dis new system go put dem for tight corner especially for dia states wey no too get industries. Dis talk na when Northern States Governors’ Forum (NSGF) meet for Kaduna.

Plenty traditional rulers, military people like General Christopher Musa, and other stakeholders follow for di meeting. The meeting show say governors and other groups dey worried sake of di tax reforms matter.

According to Governor Muhammad Yahaya, wey dey chair NSGF, di forum no dey happy about di Tax Reform Bills. Di main wahala na for di new way dem plan to share VAT.

Normally, dem dey share VAT based on where company headquarters dey, but dis new derivation-based system go mean say states like Lagos and Rivers wey dey produce plenty resources go collect more, while Northern states wey no get industries go suffer. The governors dey argue say dis system no fair and e no dey give all states equal share.

After di meeting end, governors con dey call make fairness dey across all national policies and con dey warn say no part of Nigeria suppose suffer from any unfair decision. No be say dem dey oppose policies wey fit grow Nigeria, dem dey demand fairness to make sure di North and other regions no lose out from di tax reforms.

Di discussion no end there. During National Economic Council (NEC) meeting recently, plenty governors still show say dem no happy with di reforms.

Even plenty APC governors wey dey dia, no still agree make di reforms waka go front. Governors like Alex Otti from Abia and Chukwuma Soludo from Anambra follow join di discussions late for night for Abuja but di meeting no reach any final decision.

Dis con make plenty people dey wonder if everything pure for dis reforms. Di tax reforms wey dem dey bring come include Nigeria Tax Bill and Nigeria Tax Administration Bill wey dey try make taxes simple for individuals and businesses.

One major reason for dis reforms na to remove wahala and confusion for Nigeria tax system. According to di new reforms, all taxes go now dey operate under one simple framework to make am easier for taxpayers to understand and follow.

Di reforms also dey try reduce di financial pressure for people wey no too get money. For example, di reforms propose say personal income tax rates go drop for people wey dey collect less than N800,000 annually.

In fact, people wey dey collect low moni no go pay personal income tax again. Tax rate go follow income level, people wey dey collect more moni go pay more tax.

Dis system wey dem carry come go make tax fair and e go make sure say everybody pay according to wetin dem collect. One of di tins wey scatter belli for di reforms na di derivation-based model wey dem wan use to dey share di VAT among di states for Nigeria.

Dem say di model go favour states like Lagos and Rivers wey get heavy consumers and producers of VAT-related goods. Dats why di Northern governors no gree.

Dem dey talk say dis new model dey political and e also get economic wahala. Governors like Babagana Zulum from Borno warn say dis new VAT-sharing system go cause serious katakata for millions of people wey dey live for place where industries no too dey.

Di National Economic Council (NEC) also talk about dis matter for dia meeting wey dem do for Abuja. Dem con yarn say make President Tinubu withdraw di Tax Reform Bills and make him do proper consultation with all di governors first.

But President Tinubu no dey back down. After all di calls, he still wan make di reforms waka with no further delay.

Di reforms get Nigeria Tax Bill wey dey try join all tax laws to one simple law. Dis law go remove all tax structures wey get k-leg and e go make tax payment easy.

Part of di reforms dey include removing old laws like di old Petroleum (Drilling and Production) Regulations. Dem even include a supremacy clause wey go make dis new tax system di main tax law for Nigeria.

Dis means say if any old law clash with dis new one, di old law go take back seat. Although critics dey talk say di reforms go cause hardship, if you look am well, you go see say dem dey try make tax payment easy, especially for small business owners and regular individuals.

As dem bring simple processes come with tax rates wey no dey pepper for bodi, e fit reduce financial burden for plenty people. Tinubu and him government dey try solve tax revenue wahala for Naija as part of him Renewed Hope campaign promise.

Dis reforms na bold steps wey fit create stable fiscal system for di country. But, plenty work dey wey dem go do, and people and governors dey expect fair treatment and equity on top dis reforms.

Di success of dis reforms go depend on how federal government and governors go work together. Nigeria really need dis reforms to make tax system better for di future.

But if government and all di parties wey dey involve fit settle dia differences, di reforms go work well for everybody. For now, di debate still dey on, but we dey wait to see wetin go happen next.