Economy
Tax Reform Bills ‘terribly shocking’ should be suspended – Northern elders
As controversy trailing President Bola Tinubu’s Tax Reform Bills continues, the Northern Elders Forum, NEF has called for the suspension of the bills with immediate effect, saying there were not in the interest of the nation.
Since the Tax Reform Bills were forwarded to the two Chambers of National Assembly in October last year by President Bola Tinubu, its attendant outrage in the northern part of the country continue to swell.
This is even as the Northern Elders Forum in a statement issued on Saturday and made available to journalists described the Reforms as ‘terribly shocking’, the way there were put together.
The statement which was signed by NEF’s Chairman management board, Al-Amin Musa Daggash, expressed dismay and accused the Tinubu-led administration of allegedly denying “its citizens the vigorous ventilation of democratic opinions and freedom of expression.”There’re still Nigerians with integrity — Femi, who returned N21m worth of crypto coins to owner
The statement averred that the proposed Tax Reform Bills by the Federal Government, were clearly in breach with regards to adhering to “common characteristics of reforms and public policy-making process, all over the world and in conformity with the global best practice.”
However, the group made it clear that Nigerians in general and Northerners in particular “are not really against the introduction of any form of good and meaningful reforms by those in positions of authority at the federal, state, or local government levels.”
Meanwhile, it pointed out that the Federal Government would have engaged with Nigerians, critical stakeholders, and experts in extensive pre-reform meetings in order to secure their buy-in.
Also establish a very well-defined media and communication strategy that clearly articulates the full import of the reforms and disseminates public awareness and mass enlightenment on a nationwide scale. Designing a robust, transparent, and inclusive implementation mechanism.
Proactively putting in place a well-sequenced process in order to ensure that the meticulously planned reforms really meet the society’s desired and anticipated outcomes.
The statement read in part, “The leadership of Northern Elders’ Forum, holds the firm view that the government’s interests will best be served and promoted by actively engaging in comprehensive dialogue with varied and critical stakeholders, in order to foster very admirable legislative outcomes that will respect the rights of all citizens and promote their individual and collective wellbeing, while at the same time ensuring the attainment of a balanced approach to taxation that prioritises national unity, progress, and economic development.
“In the light of these unassailable considerations, the leadership of the Northern Elders’ Forum hereby strongly recommends the following: That, the Federal Government should immediately suspend the rush to implement the proposed Tax Reform Bills, so as to more wisely use the medium of dialogue to allay all concerns, collect all quality contributions and critical inputs from cross sections of Nigerian stakeholders, and then finally proceed to accommodate and redesign the sequencing of the implementation strategy.
“That, as a consumption tax that drastically reduces the purchasing power of citizens, fuels inflation and hikes in interest rates, no increase in VAT should be imposed, pending the emergence into the national horizon of clear evidence of the promised economic recovery by the government.
“That the proposed formula contained in the NTAB is not fair to the states where VAT revenue is generated, as the consuming states are denied credit for what has been generated from them. Since VAT is a General Consumption Tax (GCT), the rule of attribution based on the location of consumption should be uniformly applied.
“That, since Section 162(2) of the 1999 Constitution (as amended) grants the RMAFC the sole authority to determine the formula for equitable revenue sharing among the three tiers of government, no attempt should be made by the ruling authority to whimsically change this provision, as doing so is capable of undermining the law of the land and disrespecting democratic principles.
“The plan to move the exceedingly performing developmental and technological institutions, with a secured means of sustainability, such as TETFund, NITDA, and NASENI, to the uncertain and hazardous future of budgetary allocation should be halted. We strongly recommend that the status quo should be maintained by the government so as to strengthen and protect these strategic national institutions.
“That, given our diversity and the importance the government attaches to promoting financial inclusion, the use of contentious terms like “ecclesiastical” in the original proposed Tax Reform Bills, should be seamlessly replaced with “religious.”
“That religious, charitable organisations and family inheritance wealth should be exempted from paying all forms of taxes, as this is prone to conflicts over citizens’ strict adherence to some religious obligatory laws.
“That, conspicuously missing and consciously evaded by the framers of the Tax Reform Bills, is the issue of agricultural goods (produce) and livestock, a big ecosystem, which constitutes the strength of Northern Nigeria’s economy, yet, for certain inexplicable reasons, they have all been declared VAT-exempt/non-VATable. Obviously, the repercussion of this exclusion on the Northern part of Nigeria is glaringly disproportionate.”
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.
The National Agency for Science and Engineering Infrastructure (NASENI) has announced plans to launch a nationwide sensitization campaign to promote the adoption of Made-in-Nigeria products, highlighting the transformative impact of locally engineered innovations on the nation’s economy.
As part of the initiative, the agency is organizing strategic focus group meetings across the six geopolitical zones of the country to galvanize support for indigenous products.
Speaking at the North Central zonal meeting in Abuja on Wednesday, the Coordinator, Implementation and Management Office (IMO) of NASENI, Yusuf Kasheem, emphasized the importance of supporting local products to drive economic growth.
“When Nigerians embrace the initiative, we do more than purchase goods—we invest in our future. We create jobs, stimulate economic growth, and reduce our reliance on imported alternatives,” Kasheem said.
He further highlighted that the widespread adoption of locally made products is a step toward a stronger, more self-sufficient Nigeria.
Kasheem reiterated NASENI’s dedication to leveraging technology and innovation to boost national prosperity.
“In just over a year, through strategic partnerships both locally and internationally, NASENI has introduced 35 commercially viable Made-in-Nigeria products. These innovations span critical sectors and reflect our commitment to excellence and self-reliance, he said”
Among the highlighted products are Solar Irrigation Systems, Home Solar Systems, Lithium Batteries, Electric Vehicles, Laptops, Smartphones, Animal Feed Mill Machines, and Energy-Efficient Street Lamps—each designed to improve various aspects of the economy and daily life.
In her remarks, the Executive Director of Business Development at NEXIM Bank, Hon. Stella Okotete, described the promotion of Made-in-Nigeria products as a national imperative.
“By increasing the quality, branding, and competitiveness of our products, we enhance our foreign exchange earnings, create jobs, and strengthen the value chain across key sectors such as manufacturing, agriculture, solid minerals, and services,” Okotete stated.
To support the initiative, Okotete disclosed that NEXIM Bank had introduced targeted interventions such as single-digit interest loans for export manufacturing and value addition, along with export credit facilities to improve financing access for Small and Medium Enterprises (SMEs).
The campaign aims to foster a culture of pride and reliance on locally made products, positioning Nigeria as a hub for technological innovation and economic self-sufficiency.
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