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NO PART OF TAX REFORM BILLS RECOMMENDS SCRAPPING TETFUND, NASENI, AND NITDA…NO PROVISION WILL IMPOVERISH THE NORTH
STATE HOUSE PRESS STATEMENT
NO PART OF TAX REFORM BILLS RECOMMENDS SCRAPPING TETFUND, NASENI, AND NITDA…NO PROVISION WILL IMPOVERISH THE NORTH
By: Bayo Onanuga
Since the public debate around the transformative tax bills before the National Assembly began in the last few weeks, various political actors and commentators have tried to obfuscate the facts, deliberately misinforming and misleading the public.
Unfortunately, most reactions are not grounded in facts, reality, or sufficient knowledge of the bills. While some commentators have attempted to incite the people against lawmakers, others have polarized one section of the country against another.
The tax reform bills will not make Lagos or Rivers more affluent and other parts of the country, as recklessly canvassed, poorer. The bills will not destroy the economy of any section of the country. Instead, they aim to enhance the quality of life for Nigerians, especially the disadvantaged, who are trying to make a living.
Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills.
Government agencies, such as NASENI, TETFUND, and NITDA, are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.
One reason President Bola Tinubu embarked on the Tax and Fiscal Policy Reforms is the need to streamline tax administration in Nigeria and make the operating environment conducive for businesses.
For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives.
The multiple taxes complicate the economic environment, making Nigeria uncompetitive for investment and preventing many businesses from growing or continuing their operations. Some companies have had to make the rational decision to relocate to other countries. We can not continue on this path or wait for 20 years if this country is to deliver the prosperity we need for our people.
The proposal, as contained in section 59(3) of the Nigeria Tax Bill, only seeks to consolidate some of the earmarked taxes imposed on companies and replace them with a single tax to be shared with the key agencies as beneficiaries in a phased manner until 2030.
The time frame offers ample opportunity for the affected agencies to explore other funding sources in addition to budgetary allocations in line with the constitution and international best practices.
It is a misrepresentation of facts to conclude that changing an agency’s funding source amounts to scrapping it. None of the countries leading globally in education, science, engineering, or information technology have similar earmarked taxes.
The government imposes major taxes, be it income tax, consumption tax, or other taxes, to channel resources to its areas of priority at the time. Imposing a separate tax to fund an agency is an aberration that has yet to yield results despite the huge burden on businesses. The tax bill seeks to address this problem.
Relevant stakeholders and public analysts owe it a duty to properly educate themselves about the bills’ contents and avoid misleading the public for any reason. We may be entitled to our opinions, but such views must be informed and based on facts, not emotions targeted at inflaming passions.
In a period like this, when our people across the country look up to leaders for guidance and direction on matters of public importance, such as the Tax Reform Bills, leaders should be more measured in their public utterances to avoid heating the polity and polarising the country unduly.
President Tinubu welcomes the public interest these bills have generated. He encourages leaders across the country, including Governors, Traditional rulers, Civil Society Activists, Students, trade associations, professional associations, and the general public, to take advantage of the Public Hearings that the National Assembly will organise to present their views on how best to reform our taxes and fiscal regime.
What is never in doubt is the imperative of changing the existing tax laws and administration that have become obsolete and unhelpful in achieving the growth and development we desire for our country.
NO PART OF TAX REFORM BILLS RECOMMENDS SCRAPPING TETFUND, NASENI, AND NITDA…NO PROVISION WILL IMPOVERISH THE NORTH
Burglars break into Polaris Bank in Awka, cart away money
By: Zagazola Makama
Business activities were disrupted on Thursday at the Polaris Bank branch in Amenyi, Awka, Anambra State, following a burglary in which thieves broke into the bank and stole an unspecified amount of money from the vault.
Zagazola learnt that the incident was discovered by the branch manager, Mrs. Okpara Ugoo Chiaka of No. 21 Nnosike Akabugo Street, Nodu, Awka, when she arrived at the bank at about 7:30 a.m. to commence daily operations.
On arrival, she found that the banking hall, offices, and vault had been broken into and thoroughly ransacked, with cash missing from the strong room.
The development has caused anxiety among customers and staff, as the exact amount of money stolen has not yet been disclosed.
Meanwhile, sources close to the bank said measures are being taken to ascertain the circumstances surrounding the burglary while internal investigations are ongoing.
The sources added that police were invited to investigate.
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Burglars break into Polaris Bank in Awka, cart away money
ADC inaugurates 30-man committee to strengthen membership in Gombe
The African Democratic Congress (ADC) has inaugurated a 30-man committee to drive membership registration campaign in the state ahead of 2027 general election.
Former Minister of Transportation and Gombe State ADC coalition leader, Idris Umar, while speaking after the inauguration held in Gombe on Friday said the move was to boost its membership base.
Umar said that the ADC was on a rescue mission to challenge the ruling All Progressives Congress-led government in the state and country and would only achieve that with membership strength.
He said that the party’s mobilisation drive would be taken to the grassroots and to every community in the state towards welcoming residents whom he said were eager to join the party.
According to him, the party is optimistic of garnering 500, 000 new members within the next three months.
He said with the calibre and experience of the committee members, the ADC would gather enough membership strength to oust the ruling APC in the state.
“There is already grassroots support for the ADC and people love the party and are eager to be part of us and that is why we set up this committee.
“We are under pressure to bring membership cards for people to register and today we are launching the drive.”
On his part, the Chairman of the ADC Membership Drive, Gombe State and former deputy governor of Gombe State, Mr Lazarus Yoriyo said that his committee would work to boost ADC membership.
Yoriyo said he would also encourage members to register and their Permanent Voter Card, urging residents to embrace the ongoing Continuous Voter Registration.
On his part, the Gombe State ADC Chairman, Mr Auwal Barde, appealed to members to be united and loyal to the course of building the party.
Barde said that the ADC would work hard to ensure that it remained one united team that could provide a better platform for citizens to get good governance.
ADC inaugurates 30-man committee to strengthen membership in Gombe
Seven pupils injured in Benue school explosion
By: Zagazola Makama
The Police Command in Benue has confirmed that seven pupils were injured when a suspected improvised explosive device (IED) went off at a primary school in Ukum Local Government Area of the state.
Sources confirmed on Friday that the incident occurred on Sept. 16 at about 2:00 p.m. at the Local Government Education Authority Primary School, Ater Ayange.
He said the explosion happened when some pupils, who found an object in the school premises, began to play with it without knowing it was an explosive device.
“While playing, the pin of the device was pulled off, causing an explosion that injured seven children,” he said.
The sources said the children were rushed to St. Anthony Hospital, Zaki-Biam, where they were receiving treatment and responding well.
He added that the incident was not immediately reported to the police until Sept. 18, when the Divisional Police Officer (DPO) Ukum received information and deployed a patrol team to the school and hospital.
He said the Officer-in-Charge of the Explosive Ordnance Disposal (EOD) unit had been deployed to sweep the area for possible detection of other hidden explosive objects and determine the nature of the device.
The police further disclosed that the Criminal Investigation Department (CID) had commenced an investigation into the incident.
Seven pupils injured in Benue school explosion
Burglars break into Polaris Bank in Awka, cart away money
ADC inaugurates 30-man committee to strengthen membership in Gombe
Seven pupils injured in Benue school explosion
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