Zulum Approves N730 Million Scholarship for Indigenous Student 

By: Our Reporter
 
Borno state governor Babagana Umara Zulum has approved over seven hundred and thirty million naira (N730,000,000) in scholarships for Borno indigenes studying in different institutions of learning across the country. 
 
The Commissioner for Education, Science, Technology, and Innovation, Engr. Lawan Abba Wakilbe, officially handed over the cheque on behalf of Governor Zulum to the Borno State Scholarship Board in a ceremony held at the conference hall of the Quality Assurance office of the ministry on Monday.
 
Engr. Wakilbe explained that the scholarship, when fully implemented, is expected to benefit 26,888 indigenous undergraduates, and payment will commence with immediate effect.
 
The commissioner also disclosed that Zulum’s administration has spent over N8 billion this year (2024) alone on scholarships for students studying both within Nigeria and abroad. 
 
He further provided a breakdown of the scholarship allocations and urged the students to work hard to justify the government’s significant investment in their education.
 
The commissioner also urged students to ensure their bank details were accurate to prevent transaction issues, warning that failed payments would be reallocated for other purposes. 
 
He also encouraged the students to explore additional opportunities through NELFUND, challenging student leaders to make full use of the resources available to them.
 
The National President of the National Union of Borno State Students (NUBOSS), Abdullahi Ahmadu Umara, who led the students, on his part expressed gratitude to Governor Zulum for his unwavering commitment to education.
 
On the sidelines, one of the students present at the occasion, Abba Ali Abba Gana, announced plans to honour the Governor with the title of “Student-Friendly Governor” and the Commissioner as the “Architect of Modern Education” in recognition of their dedication to advancing education in Borno State.

Zulum Approves N730 Million Scholarship for Indigenous Student 

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

State Governments Advised to Enter into Trade and Investment Partnerships with Countries in Africa for Prosperity of Their People

By: Michael Mike

State governments across the country have been advised to enter into trade and investment partnerships with counties on the African continent to improve welfare and prosperity of indigenes of their states, and boost intra-African trade.

The advice was given by President of the Nigeria-Namibia Chamber of Commerce, Mr. Ben Gbade Ojo while presenting a paper at the Namibia-Delta State Trade and Investment Summit held in Warri, Delta State

Ojo said state governments in Nigeria can boost their economies and create more employment opportunities for their peoples by promoting and engaging in trade and investment relations with African countries.

In his paper titled: “Unlocking New Trade and Investment Opportunities between Namibia and Nigeria,” Ojo stated that: “Trade is widely accepted as an important engine of economic growth and development. There are many regions and countries of the world that have been able to lift their people from poverty to prosperity through trade. In Africa however, trade has not served as a potent instrument for the achievement of rapid and sustainable economic growth and development”.

He lamented that “Intra-African trade (trade among African nations) stands at around 13% compared to approximately 60%, 40 %, 30% intra-regional trade that has been achieved by Europe, North America and the Association of South East Asian Nations (ASEAN) respectively. Even if allowance is made for Africa’s unrecorded informal cross-border trade, the total level of intra-African trade is not likely to be more than 20%, which is still lower than that of other major regions of the world”.

According to Ojo: “That African countries do not trade much with each other has meant that they have been unable to fully harness the synergies and complementarities of their economies and take full advantage of the economies of scale and other benefits (such as income and employment generation) that greater market integration would have provided. There are cases where products and services could have been sourced competitively from other African countries but were procured from outside the continent”.

He said: “Enhancing intra-African trade presents a multitude of benefits. It fosters the evolution of regional value chains and catalyzes productivity and innovation” adding that intra-African trade also enhances economies of scale which means that “as the scale of output goes up, average costs of productiondecline—at least up to a point.”

He congratulated the Delta State Government on this visionary initiative and called on all other states to join Delta State in promoting international trade and investments for the improved welfare and prosperity of their people and states.

The well attended summit was graced by His Royal Majesty, Ogiame Atuwatse III, the Olu of Warri and His Excellency, Humphrey Geiseb, High Commissioner of Namibia to Nigeria, Cameroun and Chad. The Olu of Warri also hosted Mr. Ojo, the Namibian High Commissioner and other summit dignitaries at his palace.

State Governments Advised to Enter into Trade and Investment Partnerships with Countries in Africa for Prosperity of Their People