Tag Archives: government

Reps revealed finance bill to increase VAT submitted by Buhari as it passed their reading.

Members of the House of Representatives on Thursday November 28, passed the 2019 Finance Bill submitted by President Muhammadu Buhari after it passed its third reading.

The bill which introduced tax incentives for investment in infrastructure, capital markets and supports small businesses also amended six tax provisions to make them more responsive to tax reform policies.

It is expected that the 2019 Finance Bill will reform the current tax regime by amending seven acts namely: Petroleum Profit Tax Act, Custom and Excise Tax Act, Company Income Tax Act, Personal Income Tax Act, Value Added Tax Act, Stamp Duties Tax Act, and Capital Gains Act.

Channels Television reported that asides increasing the Value Added Tax on specific goods and services from 5 per cent to 7.5 percent, the bill also amends the tax provision of the Customs and Excise Tariff Act to encourage local manufacturers.

#Newsworthy…

Secondus charges PDP, says the party is diversifying the economies of the states..

The national chairman of the People’s Democratic Party ( PDP) , Uche Secondus, on Wednesday, charged governors elected on the platform of the party to work assiduously towards diversifying the economies of their respective states.

Secondus, who stated this, in Abuja, at the opening of a two-day summit for PDP states, organised by the PDP Governors Forum with the theme “The Imperatives of Developing Internally Generated Revenue Options for State Governments in a Recessed Economy,” said the oil economy is not sustainable.
Consequently, the

PDP chairman urged the governors to cut down on wastse and diversify the economy of their states to be able to prepare for the future.

Secondus, who was represented by the PDP National Financial Secretary, Abdulahi Maibasira, noted that with the myriads of challenges confronting the country, states can no longer depend majorly on federal allocations.

He added that it is not enough for the states to improve their Internally Generated Revenue (IGR), they must be prudent in the management of their resources.

According to him, “the myriad of problems facing the country, like poor infrastructure, poverty and the likes, necessitate the need for more sources of fund. But increased IGR may not solve the problem. The best way to do this is to be prudent in the management of resources. There must be a cut down in waste to be able to prepare for tomorrow.”

Speaking at the event, the Director-General, PDP Governors’ Forum, Osaro Onaiwu said it is imperative for the governors of the opposition party to begin to prepare itself for an economy without oil.

Onaiwu noted that the summit was informed by the need to “prepare ourselves with creative ideas and solutions to improve IGR so that when enough is not coming from Abuja, the state governments would still be in a position to fulfill their obligations to the people.

He added that, “as the world begins to move away from petroleum products, it means we can no longer continue to depend on revenue from crude oil. This is because in the very near future Nigeria may not have buyers for her oil.

“This is why it has become critical for states to find creative ways to generate revenue internally. This is not to be mistaken for a call for more taxes, but rather, a call to begin to think out of the box in preparation for when Abuja cannot share as much as it does now.

“Whether money comes from Abuja or not, there will still be a need for the states to build infrastructure, pay worker, provide health care, improve education plus more.”

#Newsworthy…

Ebonyi state government tackles IPOB, says pro-biafra groups are illegal…

Nigeria

Ebonyi State government has said pro-Biafra groups including the Indigenous People of Biafra (IPOB) did not exist in the state.

It also debunked reports that a counter force called “Bakassi Boys” had been inaugurated to confront Biafra agitators.

The Biafra Restoration Voice (TBRV) had claimed in the social media that the Bakassi Boys outfit was inaugurated to attack members of IPOB because of the pro-Biafra group’s opposition to RUGA settlement in the South East in general. But the government described it as strange and untrue, adding that even IPOB did not also exist in the state.

Commissioner for Internal Security and Border Peace, Chief Stanley Emegha, who spoke to newsmen, dismissed insinuations and berated Biafra agitators for the rumour.

“This is a strange story as a far as the state is concerned, there is no security outfit that can be established in this state without the knowledge of the state government and as such there is nothing like Bakassi boys.

“There is nothing like Bakassi or Isakaba, IPOB, MASSOB or whatever you call them. People may stay in their homes based on their agitations and say they are IPOB or MASSOB or they are this or that, but they are not known in Ebonyi State because their activities are against the law of the land.

“So, there is nothing like Bakassi in Ebonyi and there is no inauguration of such group in the state. There is absolutely nothing like that and we don’t condone it,” he said.

#Newsworthy…

LASEPA shut down Christ embassy, mosque, Amala spot, others over noise making…

Officials of the Lagos State Environmental Protection Agency, LASEPA, have shutdown Christ Embassy Church, Iyana Ipaja; churches, mosques, hotels and others over noise pollution.

In all, 20 facilities were shut by the government on Saturday in its determination to curb the menace of environmental nuisance across the state and further restore sanity and orderliness.

The exercise, which cut across churches, mosques, hotels and nightclubs, included Water Parks at ikeja; West gate Louge, Omole, Magodo phase 1; Skylouge Bar, Oko Oba; Mallam Garba Mosque, Iloro; Dick Jockey outlets, Dopemu, Agege; Christ Embassy Church, Iyana ipaja and El Castillo Homes, Abule Egba.

Others are Triple Z Hotel & Suite, Shasha, Akowonjo; Regia Luxuria Hotels & Suites, Alimosho; Kings of Diamonds, Coker, Barrel Louge, Opebi; Voice Of Elijah Christian Church, Ikeja; Celestial Church of Christ, Ilupeju and unnamed Mosque at Allhamdiyah.

However, LASEPA’s General Manager, Dr Adedolapo Fasawe warned the public, particularly unrepentant noise polluters to desist from the act of attacking its officials while discharging their duties or face the full wrath of the Law.

Fasawe observed with dismay the frequent attacks of the officials and obstruction of same from carrying out their official duties by unidentified hoodlums hired by facility owners to prevent lawful application of the law, saying that the law enforcement agents all over the world were not always in the good book of offenders, whose primary aim was to subvert law and pervert cause of justice at all cost.

She added that officials of the agency were attacked by hoodlums at the Westgate Louge, Omole and Sky Louge, Oko Oba while performing their duty to shut down the facilities for their persistent noise and failure to operate within the ambit of the law.

According to her, negative consequences awaited these perpetrators as the officials represented the government and whose motive was to protect the interest of the society against interest of few self centred defaulters.

“Enforcing environmental law in our society that thrives on impunity will require enlisting maximum support of the members of the public, especially our clerics, opinion, political and market leaders to lend their voices to the campaign and condemn the unwarranted but coordinated attacks being launched on the officials while performing their duties,” she said.

She further addressed the on-going insinuations and campaign of calumny against the agency by some mischief makers that particular religion was being targeted in the fight against noise pollution.

“Our operation devoid all religious coloration and no particular religion is targeted, our primary objective is to ensure decorum and sanity in the state.

The agency in the past months has being recording tremendous success and which must be supported by all rather than unwarranted attack of our intention by means of misinformation, misrepresentation and deliberate negative reports to bring the agency to disrepute and causes chaos among our people.

“We have deployed various innovations and techniques to tackle environmental pollution, especially in the area of noise pollution all to no avail, such as engaging the public through advocacy, social mobilization programmes, stakeholder’s forum, Alternate Dispute Resolution (ADR) and lastly the use of enforcement as last resort in maintaining sanity,” she said.

#Newsworthy…