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Tax Reform Bills: Tinubu rejects recommendations by VP Shettima-led NEC

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President Bola Tinubu has thrown the recommendation of the National Economic Council (NEC) to withdraw the controversial Tax Reform Bills into the dust bin.

At the 144th meeting of the NEC, presided over by Vice President Kashim Shettima, the council recommended the withdrawal of the bills.

The recommendation came after governors of the 19 northern states, who met in Kaduna on Monday, alongside prominent traditional rulers from the region, resolved, among others, to reject the Nigeria Tax Reform Bill.

In a communiqué issued at the end of the meeting, the northern governors and monarchs decried the contents of the recent Tax Reform Bill, saying they were against the interests of the North and other sub-nationals, especially the proposed amendment to the distribution of the Value Added Tax (VAT).

President Tinubu had on September 3, transmitted four tax reform bills to the National Assembly for consideration.

Tinubu, who was on vacation in London at the time, sent the bills via a letter addressed to the Speaker of the House, Abbas Tajudeen. The letter was read on the floor of the House during plenary that day.

The bills are the Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will provide a clear and concise legal framework for all taxes in the country and reduce disputes.

The others are the Nigeria Revenue Service Establishment Bill, which will repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, which will create a tax tribunal and a tax ombudsman.

Tinubu said the bills were designed to support his administration’s objectives and strengthen fiscal institutions in the country.

But responding in a statement which Bayo Onanuga, his media aide issued on his behalf on Friday, Tinubu asked NEC to allow the process run its full course.

“President Bola Tinubu has received the National Economic Council’s recommendation that the tax reform bills already sent to the National Assembly be withdrawn for further consultation.”

“President Tinubu commends the National Economic Council members, especially Vice President Kashim Shettima and the 36 State Governors, for their advice. He believes that the legislative process, which has already begun, provides an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly.”

“While urging the NEC to allow the process to take its full course, President Tinubu welcomes further consultations and engagement with key stakeholders to address any reservations about the bills while the National Assembly considers them for passage.”

The president said further imputes could be made during public hearings at parliament, explaining that the tax committee which put up the proposal consulted widely.

“When President Tinubu set up the Presidential Committee on Tax and Fiscal Policy Reform in August 2023, he had only one objective: to reposition the economy for better productivity and efficiency and make the operating environment for investment and businesses more conducive. This objective remains more critical even today than ever before.

“The Committee worked for over a year and received inputs from various segments of society across the geopolitical zones, including trade associations, professional bodies, different Ministries and Government Agencies, Governors, traders, students, business owners, and the organised private sector.

“The tax reform bills that emerged were distilled from the extensive work of the Presidential Committee.

“The tax bills before the National Assembly aim to streamline Nigeria’s tax administration processes, completely overhaul the nation’s tax operations, and align them with global best practices.”

 

 

 

 

 

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Petrol price to drop by N50 as independent marketers load at N990/litre at Dangote

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The Independent Petroleum Marketers Association of Nigeria, IPMAN has disclosed that over 30,000 of its members are set to buy Premium Motor Spirit, popularly called petrol, from the Dangote Petroleum Refinery in bulk.

IPMAN also revealed that the price of petrol from the refinery was N940/litre and N990/litre when purchased using ships and trucks, respectively.

Speaking on Channels Television on Tuesday, IPMAN President, Abubakar Garima, said the pump prices of petrol at its retail outlets will drop following the agreement with the Dangote refinery to lift products directly from the plant.

On Monday, IPMAN agreed with the Dangote refinery to directly lift petrol, diesel, and other petroleum products.

This agreement follows months after the Nigerian National Petroleum Corporation suspended its plan to serve as the sole off-taker of petroleum products from the 650,000 barrels per day refinery.

The IPMAN president explained that the Dangote refinery had been obliged to allow marketers to lift PMS, AGO, and DPK directly for onward supply to their depots and retail outlets but didn’t reveal the price.

Giving an update on pricing during the interview, the IPMAN national officer said the Refinery has provided two different rates for marketers based on their preferences.

He said marketers can load at the gantry at a price of N990 per litre or N940 through vessel transportation.

Garima said, “Presently, we have been given two different arrangments on how to buy fuel from the refinery. There is the one that we can load the vessels and carry to our various depots at the rate of N940 per litre. Then for the depots, it is at the rate of N990 per litre.

“The difference is because we have to load it and carry it to another part of the state. We use vessels to carry these products and there is another one to load from the gantry.

“For Port Harcourt, Warri, Calabar, we have to use vessels because there is no Dangote loading gantry there, we have to carry it to our private depot and discharge and distribute it to our members.”

 

 

 

 

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Zulum reinstates 23 suspended health workers, deploys others

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Borno State Governor, Professor Babagana Umara Zulum, has approved the reinstatement of 23 health workers previously suspended for absence from their duty posts at Gwoza General Hospital.

This decision was announced during the Governor’s inspection of the hospital’s newly renovated maternity and child center, as well as other ongoing projects.

Dauda Iliya, Spokesperson and Special Adviser to the Governor on Media, in a statement Tuesday, said the health workers had initially been suspended after Zulum’s earlier visit, where he found them absent from their duties.

Addressing the staff, Governor Zulum emphasized the importance of dedication to work and assured them of improved working conditions and other incentives.

“Complaints were made about the 23 medical workers who were absent during my last visit,” he noted. “No one is perfect, so the government has pardoned them, although no arrears will be paid.”

In response to a staff shortage raised by the Principal Medical Officer of Gwoza General Hospital, Dr Nuhu Nasiru Wakawa, Governor Zulum directed the immediate deployment of four additional doctors and ten nurses to the facility.

He further announced that Gwoza General Hospital will be upgraded to support training for nursing students from the new school of nursing under construction.

“The Commissioner of Health, together with the Chief Medical Director of the Hospitals Management Board, will work on this deployment,” Zulum added. “We will also recruit community health workers from Gwoza to strengthen local healthcare services.”

In addition to his healthcare initiatives, Governor Zulum inspected the crusher plant base under construction in Pulka, which will produce up to 300 tonnes of stones per hour.

He said the completion of the crushing and asphalt plants is expected to facilitate new road networks across Borno State.

The Governor also visited other development sites, including the 500-unit mass housing project in Wala B, Gwoza Local Government Area, and a proposed site for a high Islamic school in Bama, underscoring his administration’s commitment to infrastructure and educational advancement.

 

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Dangote to begin direct supply of petroleum products to marketers

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Independent Petroleum Marketers Association of Nigeria has secured an agreement with Dangote Refinery to lift products directly.

IPMAN’s National President, Abubakar Garima, announced this at an ongoing press briefing on Monday in Abuja, following a meeting of the National Working Committee of the Association.

He said the partnership would ensure a steady, affordable supply of PMS products nationwide.

“After meeting with Aliko Dangote and his management team in Lagos, we are pleased to announce that Dangote Refinery has agreed to supply IPMAN with PMS, AGO, and DPK directly for distribution to our depots and retail outlets.”

Garima urged IPMAN members to support Dangote Refinery, citing the benefits of backward integration and its positive impact on Nigeria’s foreign exchange market.

“IPMAN members should rely on Dangote Refinery and Nigerian refineries for white products, creating more job opportunities and supporting President Bola Tinubu’s renewed hope agenda.”

The latest development concludes several months of negotiations between both parties and is expected to increase efficiency, affordability, and economic growth.

The Dangote Refinery, the largest in Africa and Europe, has already commenced the production of petrol, diesel, and aviation fuel, with plans to supply products to over 30,000 IPMAN members and 150,000 retail outlets nationwide.

 

 

 

 

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