Connect with us

News

NO PART OF TAX REFORM BILLS RECOMMENDS SCRAPPING TETFUND, NASENI, AND NITDA…NO PROVISION WILL IMPOVERISH THE NORTH

Published

on

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Zulum Says I am happy FG responded swiftly to our plea to push Boko Haram back

Published

on

Zulum Says I am happy FG responded swiftly to our plea to push Boko Haram back

By: Michael Mike

Borno State Governor, Prof. Babagana Zulum has returned to Marte on Thursday, after spending a night in the community last Saturday.

The visit was part of the ongoing efforts to restore peace, rebuild trust and foster sustainable development in the Lake Chad region, which is infested by members of the Boko Haram terrorist group.

Zulum, who left Maiduguri last week, has been coordinating security logistics and building resilience among residents affected by the recent surge in Boko Haram attacks.

According to a statement by the governor’s press team, Zulum has since last Saturday visited nine communities of Marte, Kala-Balge, Wulgo, Ngala, Lugumani, Gajibo, Koibe, Dikwa and Ajiri.

The governor was said to have during the visit held closed door meeting with military commanders aimed at receiving proper briefings on modalities for restoring peace in Marte and the surrounding communities.

The governor was quoted to have said during his return to Marte that: “I am here to monitor the efficacy of our ‘re-resettlement’ of the residents we conducted a few days ago. I am very happy to note that the community is fully back, and soldiers are on ground. Normal economic activities have resumed in Marte.”

He added, “I am very happy, and insha Allah, normalcy will be restored soon.”

The governor was accompanied by members representing Marte, Monguno and Nganzai constituencies at the House of Representatives, Engr Bukar Talba; Commissioner for Local Government and Emirate Affairs, Sugun Mai Mele; Commissioner for Agriculture, Engr Bawu Musami; Permanent Secretary of Government House, and Barr. Mustapha Ali Busuguma, among many senior officials.

Meanwhile, Governor Babagana Zulum has commended the federal government and the military for responding to his call for the protection of Marte from falling to the insurgents.

Zulum made the commendation on Thursday in Marte town while speaking to journalists. He said, “The federal government and the Nigerian Armed Forces have responded positively to our request to enhance security in the affected communities. We have seen many troops deployed and many pieces of equipment deployed.

“I want to commend the Nigerian Armed Forces for the cooperation they have been giving us; without their support, we couldn’t have done much. I want, once again, to commend all stakeholders that have contributed to our search for peace and the restoration of normalcy.”

Zulum Says I am happy FG responded swiftly to our plea to push Boko Haram back

Continue Reading

Crime

Army eliminate 6 Bandits as Forest Sanity III’ pushes deeper into Sokoto forests

Published

on

Army eliminate 6 Bandits as Forest Sanity III’ pushes deeper into Sokoto forests

By: Zagazola Makama

As the troops of Operation FANSAN YABMA have continued their aggressive operations in the thick undergrowth of Gandumi Forest, North of Goronyo, the stillness of a late-morning haze was shattered on Thursday as soldiers from the 8 Division Gar Strike Team swept through a cluster of makeshift huts and weapons pits.

It was the latest push under Operation Forest Sanity III, a rolling clearance campaign designed to uproot terrorist and bandit enclaves that have long exploited Sokoto’s sprawling woodlands as a sanctuary.

Between 7 a.m. and 3 p.m., the troops struck two separate hideouts: one in Gandumi Forest, Goronyo Local Government Area, and another in Indulumu village, Maradun LGA. Military sources told Zagazola Makama that six armed militants were neutralised in the combined raids.

Two AK-47 rifles, three motor-cycles, camouflage fatigues, assorted drugs and maintenance kits were recovered, while the camps themselves were levelled and set ablaze to prevent re-occupation.

“Every foot of ground we seize in these forests denies criminals a staging area,” a senior officer on the mission explained. “The goal is to keep them constantly off balance so they cannot regroup or threaten nearby communities.”

Barely an hour later and 70 kilometres away, a separate drama unfolded in Isa Local Government Area. Dozens of bandits riding motorcycles rolled toward Gamaroji, a dusty farming community often hit by rustling raids, only to meet an ambush laid by crack operatives on special assignment.

Acting on what authorities described as “specific, time-sensitive intelligence,” the team intercepted the convoy at about 11 a.m. A fierce exchange of fire ensued; one gunman was killed, the rest fled, abandoning two Honda motorcycles, an empty AK magazine and two assault rifles bearing.

Local residents told Zagazola Makama that the rapid response averted what could have been a mass abduction or livestock theft.

“We heard gunshots outside the village and thought they had come for us again,” said farmer Bawa Yusuf. “When it fell silent, we saw security men bringing out seized rifles. People are breathing easier tonight.”

Sokoto’s Eastern corridor from Goronyo down through Isa into Zamfara’s Maradun axis forms a critical transit route for armed gangs shuttling cattle, weapons and abductees between forest camps and black market buyers.

Operation Forest Sanity III, launched in March as the newest phase of the multi agency offensive, focuses on these corridors. Its mix of deliberate daytime assaults and intelligence driven night manoeuvres has already yielded a string of weapons recoveries and hostage rescues.

A defence Intelligence said the aim is two-fold: “Deny the bad actors depth and logistics, while reassuring civilians that the state is reclaiming every contested space.”

For villages like Gamaroji and Indulumu, each successful raid offers a brief respite. Yet many residents remain cautious, mindful that retreating fighters often strike back at soft targets.

A District head who chose to be anonymous for the fear of being targeted urged continued vigilance. “We thank the security forces for today’s success,” he told Zagazola. “But we still need sustained patrols and quick response lines because the criminals melt into other forests.”

Military commanders say the campaign will persist “until all camps are dismantled and freedom of movement is restored.

Zagazola Makama is a Counter Insurgency Expert and Security Analyst in the Lake Chad Region
End

Continue Reading

News

Petrobras Eyes Return To Nigeria’s Oil Sector, Targets Deepwater Acreage

Published

on

Petrobras Eyes Return To Nigeria’s Oil Sector, Targets Deepwater Acreage

** As VP Shettima mobilises ministers to capitalise on Brazil’s hosting of BRICS, G20, COP30

By: Our Reporter

Petrobras, the state oil company of Brazil, is seeking to re-enter Nigeria’s oil sector, with a specific interest in frontier deepwater acreage.

As the economic reforms of the administration of President Bola Ahmed Tinubu take root, the company, which had previously wound down its operations in Nigeria at the Agbami Field, is now actively engaging with Nigerian authorities as part of broader efforts to revitalise bilateral cooperation ahead of the 2025 Nigeria-Brazil Strategic Dialogue Mechanism (SDM).

This was part of the discussions on Wednesday during the interministerial review meeting chaired by Vice President Kashim Shettima at the Presidential Villa, Abuja, to coordinate Nigeria’s preparations for the second session of the SDM scheduled for June 2025.

Speaking at the meeting, VP Shettima said, “The presence of six ministers and the Solicitor-General of the federation in this review meeting ahead of the second session of the Nigeria-Brazil Strategic Dialogue Mechanism shows the importance we have attached to our relationship with Brazil.

“We have not maximally capitalised on the fraternity between us and Brazil, but it is better late than never. The upcoming SDM presents an opportunity to execute sector-specific Memoranda of Understanding (MOUs) and unlock investment flows.”

The Vice President particularly noted that 2025 represents a critical moment of interface with Brazil, emphasising that the convergence of international events provides Nigeria a unique opportunity to advance its interests on the global stage.

“This year is our moment of interface with Brazil. Brazil is hosting so many global events this year, from the BRICS Summit to the G20 Summit and COP30. This convergence of events provides us with a unique opportunity to advance our interests on the global stage,” the Vice President said.

VP Shettima commended the ministers for their passion and aggression in pursuing Nigeria’s national interest, noting that “there is a sea change in our attitude, disposition, and commitment.”

Earlier, Minister of Foreign Affairs, Ambassador Yusuf Tuggar, confirmed ongoing engagements with Petrobras, saying, “Apart from Ethanol, which they are hoping to engage the NNPCL for blending, Petrobras is also being actively engaged, and we expect they will form part of the delegation to Nigeria. Petrobras is no longer active in Nigeria, but they are very keen on coming back to Nigeria. They said they want frontier acreage in deep waters.”

The Foreign Affairs Minister further reported that Brazil’s preparations for the dialogue are well advanced, with both government agencies and private sector players being actively engaged by the Brazilian Vice President.

The Ministry of Foreign Affairs, which is coordinating the interministerial working groups, has compiled at least 12 draft MOUs pending approval from the Ministry of Justice. These cover areas such as energy, health, culture, and agriculture.

Also, Minister of Art, Culture, Tourism, and Creative Economy, Hannatu Musawa, emphasised the historical and ancestral connections between Nigeria and Brazil, noting that a significant percentage of Brazilians trace their roots to Nigeria.

“We must not only preserve this relationship but deepen it. We’ve finalised MOUs with the Nigerian Film Corporation on audiovisual co-productions, the National Gallery of Arts for joint exhibitions, and the Centre for Black and African Arts and Civilisation ahead of FESTAC at 50 next year,” Musawa said.

On agriculture, Minister of Agriculture, Senator Abubakar Kyari, outlined completed MOUs focused on research collaborations: “We have finalised MOUs that focus on research in three areas of soybean value chain development, cassava research and technology transfer and agro-forestry systems, which promote integrated crop and livestock models and erosion control and climate adaptation,” he said.

The minister noted that these efforts build on the previously signed Green Imperative Project (GIP) agreement between Nigeria and Brazil.

Also, Coordinating Minister of Health and Social Welfare, Professor Muhammad Pate, pointed to Brazil’s achievements in universal health coverage as a model for Nigeria.

He said, “There are important opportunities for us in several areas in our efforts to achieve universal health coverage and primary health care between Nigeria and Brazil- they have done a lot that we can learn from them. There is the aspect of knowledge sharing and workforce, and human capital training in specialised areas.

“We see potential for collaboration in pharmaceutical research, local drug manufacturing, and workforce training. Brazil’s experience in addressing tropical and sub-tropical diseases makes it an ideal partner for joint research and development.”

Other ministers present at the meeting included the Minister of Livestock Development, Idi Mukhtar Maiha and the Minister of Environment, Balarabe Lawal.

Petrobras Eyes Return To Nigeria’s Oil Sector, Targets Deepwater Acreage

Continue Reading

Trending

Verified by MonsterInsights