Economy
Shehu Sani, Ndume differ over tax reforms
The battle for the soul of the proposed tax reform bill before the National Assembly is tilting towards controversy day by day as the former Senator representing Kaduna Central Senatorial District, Shehu Sani was of the belief that the reform would serve the interest of the Northern region better than what is being insinuated.
There have been disquiet among the northerners particularly the elite, the politically exposed among them, some lawmakers in the upper and lower legislative Chambers of the National Assembly who expressed misgivings that the bill would be injurious to the northern interest if it was allowed to see the light of the day.
The confidence crisis was instigated after President Ahmed Tinubu in October, forwarded an executive bill to the National Assembly urging lawmakers to consider and pass four tax reform bills which include the Nigeria tax bill, the tax administration bill, and the joint revenue board establishment bills.
But reacting to the bills at different fora and through a statement which he personally signed, Senator representing Borno South Senatorial District, and former Chief Whip, Mohammed Ali Ndume opposed the bill and described it as ‘ill-timed’ given that Nigerians are currently in economic crisis.
According to him, it does not make ‘political sense’ presenting the tax reform bills to the lawmakers for now. Though, he admitted that he hasn’t read the bills, he allayed fears that the tax reform bill would increase domestic expenditure of Nigerians.
In his words: “I can tell you that it will be dead on arrival. We don’t need to study the bill,” he said.
“The general thing is that Nigerians are not willing to talk, hear or pay any tax now considering the situation we have faced because this is the government of the people.
“Right now, people can’t even afford what to eat. People are struggling to survive. Let people live first before you start asking them for tax.”
Reacting to the position of Senator Ndume, Shehu Sani, a Civil Rights Activist described Ali Ndume as a lazy lawmaker who has not read a copy of the bill, but has blindly opposed it thereby attempting to deny Nigerians of the advantages inherent in the bill.
Sani said, there are six geopolitical zones and four regions of the country, wondering what are those issues in the bill that the North should fear, adding that the North should be ready to confront its fears and conquer them.
He insisted that the tax reform bills were not inimical to the north as being portrayed by Ndume and his likes rather the North stands at advantage in the reform proposal that would place the Value Added Tax, VAT right in hands of each state to control.
For instance, “there is a provision where companies are to pay value added tax to the host State instead of sending it to a single account that would not be shared among the 36 States including the Federal Capital Territory.”
“Its in fact economically beneficial and fair to all parts. People should keep aside sentiments and read the Bill carefully.
“It’s a comprehensive and bold move to harmonise and simplify tax administration and streamline its operations and enforcement. The Bill will actually generate and safeguard more revenue for the country and the States.
“It will also combat the corruption in the so-called tax waivers granted to business cabals. There is nowhere in the document where any region will be shortchanged or taxes will be increased or jobs will be lost.
Sani insisted that the reform could create a paradigm shift from the past and outdated tax system to a robust way of generating revenue which it takes a courageous president to do, particularly, as it will address business cabals who could do anything to evade tax remittances and seek unnecessary tax waivers.
He warned that the economy would be taken aback if the tax reform bills were truncated, condemning Northern State Governors’ rejection of the reform. He advised the State Governors to engage consultants to study the bill, if they had no time to do it themselves and backtracks on their decision.
Economy
Protesters urge president Tinubu to protect Diaspora housing investments along Lagos-Calabar coastal highway
A group under the aegis of Renewed Hope Concern Citizens (RHCC) on Friday staged a peaceful protest, calling for President Bola Tinubu’s intervention in protecting housing investments owned by Nigerians in the diaspora along the Lagos-Calabar coastal highway.
The protesters gathered in front of the United States Embassy in Abuja, carrying banners with inscriptions such as; Minister of Works, Senator Umahi should revert to the original gazetted alignment as promised. Enough is Enough; Association of Nigerian Diaspora Investors (ANDI) has cried enough, please intervene to save their energy to promote, support, and assist the Renewed Hope Administration; Renewed Hope Concern Citizens want Diaspora Investments to be protected and given adequate attention among others
“As committed stakeholders in the nation’s economic progress, we have consistently supported the government’s vision, particularly in revitalizing Nigeria’s infrastructure and energy sector. While we acknowledge the administration’s positive strides, recent developments have raised concerns about the misalignment of energy policies, particularly regarding the 2006 Gazetted alignment.
“We urgently call on the Minister of Works, Senator David Umahi, to restore the 2006 Gazetted alignment to ensure continued growth and stability in Nigeria’s energy sector,” said Hon. Tayo Agbaje, Chairman of RHCC, while addressing journalists.
The group refuted the Minister’s claim that an underground cable warranted the removal of structures in Okun Ajah, Lagos and outlined several reasons why President Tinubu’s intervention is crucial.
According to them, The 2006 Gazetted alignment has long provided a stable and predictable framework, essential for maintaining investor confidence in Nigeria’s energy sector.
“Diaspora investors contribute significantly to job creation, business growth, and the overall economy, making their protection vital to sustaining these contributions.
“The President should investigate the Minister of Works’ claim about the underground cable allegedly interfering with the 2006 Gazetted plan.
“Restoring the alignment will reinforce Nigeria’s commitment to a stable investment climate, boosting foreign investor confidence and attracting much-needed capital for infrastructure development.
“Deviating from established policies creates uncertainty, undermining both current and future foreign investments.
“Maintaining the 2006 Gazetted alignment will signal Nigeria’s dedication to long-term economic stability, further reassuring both local and international investors,” the group stated.
The RHCC reaffirmed its support for the Association of Nigeria in Diaspora Investments (ANDI) in its quest to uphold the 2006 Gazetted alignment plan of the Lagos-Calabar Coastal Highway.
They urged the government to act swiftly to protect diaspora investors, as this will strengthen Nigeria’s investment future and ensure continued economic success under the Renewed Hope Administration.
Economy
Ogunjimi promises to collaborate with ex-Accountants-General in taking treasury house to greater heights
The newly appointed Accountant General
of the Federation, Mr Shamseldeen B. Ogunjimi said he would collaborate and tap from the wealth of experiences of all Former Accountants -General of the Federation to bring the nation treasury to a greater height.
Mr Ogunjimi disclosed this while receiving two Former Accountants-General of the Federation, Dr John Naiyeju and Dr Ibrahim Dankwambo in his office in Abuja.
Speaking earlier, Senator Ibrahim Dankwambo suggested the upgrading of the Treasury Academy, Orozo owned by the Office of the Accountant-General of the Federation (OAGF) to a Degree (University) awarding Institute.
Also, Dr. John K. Naiyeju charged the new Accountant-General to carry along everyone and advised him to make staff welfare his priority.
In a related development, the Accountant-General of the Federation expressed his willingness to work with all professional organisation that will bring positive development to the nation, especially, his professional and Academy colleagues of the doctorate class.
Mr Ogunjimi called on his classmates to come up with ideas and suggestions that will enhance the management of the nation’s treasury that will positively affect the economy development.
In his remarks, the Chairman Forum of Doctorate Students, Ibrahim Aliyu said that they were in Treasury House to congratulate one of their own and assured him of their support towards his successful tenure.
The Accountant General of the Federation, Shamsedeen Babatunde Ogunjimi who was appointed by President Bola Ahmed Tinubu last week has assumed office on Monday.
In a brief ceremony marking his assumption at the Treasury Office in Abuja, he promised to be fair to staff of the office which he said, they would not be intimidated or victimized during his tenure of office.
In his maiden address to the entire staff of the Office of the Office of the Accountant General of the Federation, he called for unity, professionalism and commitment in order to achieve the objectives of the office.
He recalled how he suffered victimisaton in hands of previous Chief Executives where he worked, he promised that it would not be the case as he was elevated as the Accountant General of the Federation.
He said: “It is good to be back, this is our home, nobody will drive us out. I want everybody to have the spirit of togetherness.
“I am not in any group, I am not going to polarize the house.
“If I fail, everyone here has failed. I am ready to commit myself to the service of the public.”
The Accountant General called on staff to let the past go and forge a new spirit in order to move the office forward for the good of the nation and the current administration.
“During my interview for this job, when I was asked what I would do differently to change the image of the Treasury House, I wanted to put the question back to you.
“What will you do differently to correct the image of the OAGF? The question is to all staff members.
“Everyone of us must work to change the perception of the country’s treasury.
“I have been a victim of the chief executive officer firing directors he or she doesn’t like.
He assured the staff of the Treasury House of cooperation they haven’t seen in their lifetime professional career, saying, ‘I don’t like him. Please remove him’, I am not going to be that leader,” he said.
CAPITAL POST recalled that President Bola Tinubu last week approved the appointment of had last week approved the appointment of Mr Babatunde Ogunjimi as the country’s new Accountant General thereby putting to rest the guesswork of who should be the next occupier of the Treasury House.
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