Connect with us

Nation

95% Of Small Businesses Should Be Off Tax – Oyedele

Published

on

The Federal Government is working on a system that will provide tax relief to 95 per cent of the informal sector of the economy in the country.
Mr Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, said this at the closing session of the committee on Sunday in Abuja.
He said this would be achieved through the exemption of businesses earning N25 million a year or less from the various taxes hindering their progress over time.
‘’So, we think that 95 per cent of the informal sector should be legally exempted from all taxes; withholding tax, company income tax, even payee on their staff.
‘’We’re using data to inform our decisions. Currently, if you earn N25 million a year or less, you don’t have to pay company income tax, you don’t have to worry about VAT.
‘’We think that the informal sector are people who are trying to earn legitimate living, we should allow them be and support them to grow to a point where they can then have the ability to pay taxes,” he said.
Oyedele said the new reforms being proposed would focus on the top 5 per cent of that sector, the middle class and the elite for taxes.
He said the committee was drafting the laws to effect the necessary changes in the fiscal policy and tax reform ecosystem of the country.
According to the chairman, the new laws will ensure that reviews become sustained by all governments coming in, adding that: “we don’t want this whole effort to go down the drain, after one or two years.”
On compliance, he urged all stakeholders to fully cooperate with the government in implementing a new fiscal and tax policy that would be used for the general good of the citizens.
‘’We think that the days of being above the law in paying taxes are over. The same thing we’re saying to our leaders, whether they are elected or appointed.
‘’We think they have to lead by example by showing that they have paid the taxes, not only on time, but correctly to the lawful authorities as contained in the various laws,” he said.
He said explained that some of the taxes complained about by Nigerians were those already in the constitution, which the committee had looked at and called for their review.
Oyedele said the committee report would be made to pass through the normal process of legislation in order to give it the full legal backing.
‘’So, our expectation is, as we progress now from ideation, proposal to implementation, you’ll see less and less of those issues and then you’ll see harmony in the direction of the fiscal system.
‘’Not only in the number of taxes we collect, you will also see an improvement in how those monies are being spent.
‘’In terms of priority of spending, in terms of the efficiency of spending and in terms of focusing on what impacts on the lives of majority of our population that live in multi-dimensional poverty,” he said.
Oyedele added that the committee had been working with the sub-nationals and the local government councils in its task of harmonising the taxes into a single digit in the country.
‘’So, we’re convinced, and that’s what the data tells us, that the right path we need to follow, is the path where we repeal many of these taxes, harmonise whatever is left.
‘’We think we can keep that within single digit across local government, state and federal government combined, and then improve the efficiency of collecting those taxes.
‘’We are also very convinced that we need to increase the threshold of exemption for small businesses, for low income earners because if you can’t make ends meet, the last thing you want is someone asking you to pay tax.
‘’We think in fact, when our nation gets to the level we need to be, we should be able to even add money to those who have very little or nothing,” said Oyedele.
At the ceremony, Vice-President Kashim Shettima restated President Bola Tinubu’s commitment to revitalise revenue generation in the country.
“Our aim remains the revitalisation of revenue generation in Nigeria, while sustaining an investment-friendly and globally competitive business environment.
“Contrary to speculations in some quarters, we are not here to frustrate any sector of our economy but to create an administrative system that ensures the benefits of a thriving tax system for all our citizens,” he said.
He said the dynamics of the nation’s fiscal landscape prompted the Tinubu administration to pause and reconsider the direction it was going.
“I am confident that both the Federal and State Governments stand ready to ensure the effective implementation of your reform proposals.
“We shall provide the institutional framework to guarantee the adoption of the consensus of this committee, aligning them with our economic agenda,”said Shettima.

Continue Reading

Nation

Group Honours DPO 

Published

on

A non- governmental organisation under the aegis of South South Media Association has presented an award to the Divisional Police Officer, Omoku ,CSP John Ladan.
The event which held recently in Omoku in Ogba/ Egbema/Ndoni Local Government Area of Rivers State, saw the attendance of top ranking officers and well wishers who gathered to celebrate an icon.
Presenting the award, the Chairman of the group, Kio Hopeson, said following the DPO’s selfless service to humanity, peace and development of the society, the group found him worthy to receive the award.
Hopeson  hinted that the award had long been overdue, as his posting to Omoku had brought about peace, social harmony and drastic reduction of crime, saying, his open door policy and ensuring that every stakeholder is carried along in the fight against crime, was a contributing factor.
He said their investigation revealed that the people were extremely pleased with the reduction of crime under his watch in the area, stressing that his effort to interface with everyone has boosted the cooperation between the police and the residents.
On his part, the recipient, CSP John Ladan thanked the group for the honour done him.
The DPO expressed his gratitude to God and the Commissioner of Police for the support given him to serve.
He urged the people to see the police as friends as their job is protection of lives and property.

Continue Reading

Nation

Rivers Begins Screening Of National Health Fellows

Published

on

As part of efforts towards enrolment into the National Health Fellows programm of the Federal Government, the Rivers State Government in partnership with the World Health Organisation, (WHO) and other development partners has started the process of interviews for the selection of   health professionals to be enrolled into the  programme.
The National Health Fellows Programme is an interventionist  initiative by the Federal and State Governments following the declaration of a state-of-emergency on the health sector by President Bola Ahmed Tinubu in 2023.
The initiative is aimed at reducing the physical and financial burdens on health-seeking Nigerians.
Briefing newsmen in Port Harcourt, the Acting Director, Research and Planning, Rivers State Ministry of Health, Dr Juliane Nwoke, who spoke on behalf of the State Commissioner for Health, Dr Adaeze Oreh  said the programme is expected to enrol 774 persons representing each of the local government areas in the country.
In Rivers State, she said 23 persons are expected to emerge from the 69 shortlisted candidates, adding that already, nine persons have been interviewed, adding that the successful candidates would be engaged by the Federal Government for a period of one year to support the provision of healthcare services especially public health at both local, state and national levels.
She explained that core areas of competencies  of shortlisted candidates includes public health, proficiency in Information and Communication Technology and data management.
“We have interviewed already, about nine candidates and by the end of today, we’ll be interviewing about 29 candidates.
“The interviews will end officially today for Rivers State because we are expected to interview 69 candidates.
“Specific competencies were considered in the selection process with interest on competencies in public health, ICT and data management, so we received the shortlist of candidates which we expect are based on these competencies.
“As you may know, there is a global and local shortage of manpower, so the 23 who qualifies in this round will add to the skilled manpower that is needed to drive healthcare delivery.
“As per impact, this fellows would be engaged directly by the Federal Government for a period of one year to support healthcare delivery and population health management at the local government, state and perhaps national levels, working directly from their LGAs,” she stated.
Dr. Nwoke assured shortlisted candidates of fairness in the screening process, maintaining that only the best will emerge at the end of the exercise.

John Bibor

Continue Reading

Nation

NCSU Rejects Supreme Court Judgments …Says Nigeria Drifting To Banana Republic 

Published

on

The Nigeria Civil Service Union(NCSU) has described as unacceptable, callous, wicked and cruel the judgments and pronouncements of the Supreme Court last Friday, concerning Rivers State political crisis, saying they are nothing to write home about.
This is even as the union has said Nigeria is fast drifting to a Banana Republic, where the rule of law is not upheld but thrown overboard.
The union equally took to the cleaners the Justices, who gave the judgments and pronouncements, for allegedly mortgaging their consciences, and urged Rivers State Governor, Sir Siminalayi Fubara not to obey the judgments until such a time that the case bordering on the defection of the 27 pro-Wike lawmakers, pending at the Court of Appeal is dispensed with.
The Rivers State Chairman of NCSU, Comrade Chukwuka Richman Osumah, who canvassed this position in an interview in Port Harcourt, particularly described the judgment ordering the Central Bank of Nigeria(CBN) and the Accountant General of the Federation not to release the Federal Allocations of Rivers State as not only callous and wicked but cruel and self-serving.
He said civil servants in the State in particular reject the judgements and pronouncements of the apex court in their totality, and enjoined them to rise up against all plots and machinations to unseat the Governor, as a demonstration of their love, support and solidarity for him, contending that folding their arms and watching the plots to succeed, would amount to giving the enemies of the State a free rein to overrun the State.
He said the workers firmly believe that those fighting Governor Fubara, are not only fighting him but the people of the State, and enjoined them to rally round the Governor, who he noted has put smiles on their faces within the short period he has been in office.
Osumah noted that the Supreme Court judgments and pronouncements are an attempt by enemies of the State to pull the hands of the clock backwards, considering the monumental achievements of the Fubara administration so far.
He said it is unfortunate that the Justices who handed down the judgments and pronouncements, have through their actions and inaction, desecrated the sacred temple of justice, and by so doing making the judiciary a laughing stock in the eyes of the world, instead of elevating it in such a way that it becomes the much-acclaimed last hope of the masses and the common people in the country.
He decried a situation where the country’s judiciary has rather degenerated to a level where the highest bidders have held it hostage, at the expense of the ordinary people, saying it is a strong indication that the country is fast drifting to a Banana Republic, where the rule of law is bastardised and thrown overboard.
According to him, the judgements and pronouncements portend grave danger for the State and the people, as they are a recipe for chaos, confusion and unabated crises.
Osumah further lamented a situation where the case bordering on the defection of the Martin Amaewhule-led lawmakers is relegated to the background while other contending issues are given undue preference and preeminence, saying the defection case is rather the kernel and pivot on which every other matters concerning the political crisis in the State gravitate.
The labour leader, therefore, stressed the need for the execution of the Supreme Court judgments and pronouncements to wait, pending the final determination of the defection suit, describing as hasty and preposterous the issuance of a 48-hour ultimatum to Governor Fubara by the 27 pro-Wike lawmakers, to present before them the 2025 Budget of the State.
Osumah equally reminded civil servants in the State that the time has come for them to boldly rise up and defend one of their own, and never allow the shenanigans of the old order to overwhelm and subject them once more to the throes and pangs of penury, poverty and needless suffering and hardship.
He recalled with glee that Governor Fubara has wiped away their tears, by not only providing a conducive environment for them to operate but also making sure that their welfare needs are given top priority, thereby restoring and providing all that the enemies of the State had denied them in the past.
While reiterating that the entire workforce in the State vehemently reject the judgments and pronouncements of the Supreme Court, Osumah said the apex court has through such judgements and pronouncements, declared war against the State and her people.

Continue Reading

Trending