By Philip Yatai

Mr Adesola Olusade, Permanent Secretary, Federal Capital Territory Administration (FCTA), has said that harmonisation and digitisation of revenue collection would enhance its tax collection.

Olusade said this during a one-day town hall meeting on revenue harmonisation, on Monday in Abuja.

The theme of exercise is: “Harmonisation Drive: Shaping Our Future Together”.

The News Agency of Nigeria (NAN) reports that the meeting was organised by the FCT-Internal Revenue Service (FCT-IRS).

According to Olusade, the adoption of modern technology, digital platforms and efficient processes, the FCT will enhance the effectiveness and efficiency of revenue collection.

This, he said would not only improve service delivery but also contribute to the ease of doing business, thereby making FCT an attractive destination for local and foreign investors.

“It will lead to increased revenue generation, which in turn will provide the necessary resources to invest in critical sectors such as healthcare, education, transportation, and infrastructure development.

“This will directly impact the lives of residents, improving access to quality healthcare, enhancing educational facilities, and ensuring a well-planned and sustainable urban environment,” Olusade said.

He said that streamlining and optimising revenue collection processes would enhance transparency and accountability in revenue collection, and ensure that funds were efficiently utilised for the benefit of FCT residents.

He added that the harmonisation would also eliminate duplication, reduce bureaucratic bottlenecks, and create a more conducive environment for businesses and investors.

According to him, consolidating revenue collection systems will promote fairness and equity in revenue collection, attract more investment, stimulate economic growth, and create employment opportunities.

“This will enhance the FCT’s reputation as an investment-friendly destination, contributing to the overall development of the region.

“By ensuring that all eligible individuals and businesses contribute their fair share, we can distribute the burden of taxation more equitably and reduce the tax evasion that hampers revenue generation.

“The move will enable us to provide essential services, infrastructure, and social amenities that improve the quality of life for all residents of the FCT.”

The permanent secretary, however, said that the success of the harmonisation drive would largely depend on the active participation and engagement of all stakeholders.

He commended stakeholders for their efforts, dedication and contributions, saying “together, we can create a harmonised revenue collection system that benefits all residents of the Federal Capital Territory.

“By working collaboratively and leveraging our collective strengths, we can overcome challenges, seize opportunities, and pave the way for a prosperous future,” he added.

Also, the Executive Chairman, Federal Inland Revenue Service, Alhaji Muhammad Mani, commended the FCT-IRS for making technology a pivotal point of its operational policy.

Represented by Shetitima Tamadi, Coordinating Director, FIRS, Mani said digital revolution was transforming tax administration globally, stressing the need for the revenue hamornisation drive to leverage on technology to achieve more results.

According to him, the adoption of digital platforms in revenue collection in the FCT holds the greatest prospects of streamlining operational cost, blocking revenue leakages and ensures accurate revenue data.

The Executive Chairman, FCT-IRS, Mr Haruna Abdullahi, said the harmonisation drive was not just about increasing revenue but also about building a system that works for all.

 Abdullahi said that FCT-IRS Act entrusts the service with the duty to collaborate with relevant stakeholders and agencies in harmonising and improving tax practices.

“This is aimed at optimising our revenue generation efforts, while ensuring simplicity, transparency, and accountability in tax systems.

“Harmonising our revenue collection systems will unlock the full potential of our resources and pave the way for sustainable growth, improved service delivery, and enhanced quality of life for our citizens,” he said. (NAN) (www.nannews.ng)

Edited by Deji Abdulwahab

By Funmilola Gboteku

The Women’s Technology Empowerment Centre (W.TEC), a non- profit organisation says it has trained 288 girls on electronics and renewable energy to thrive in the digital age.

Adeyemi Odutola, External Relations Lead, W.TEC, in an interview with the News Agency of Nigeria (NAN) in Lagos on Saturday said the NGO was able to achieve this through its MakeHer Space Programme.

He noted that the programme was a transformative initiative for secondary school students in Ikorodu and Surulere areas of Lagos.

According to him, a total of 210 girls were trained in four schools at Surulere while 78 girls were trained in two schools at Ikorodu respectively.

Odutola said that the one-year programme, which had now come to a close, was designed to teach selected girls to create technology and engineering-based solutions that solve problems in their communities.

He added that it was also an opportunity to provide information about career options and expose them to women working successfully in Science,Technology Engineering, Arts and Mathematics (STEAM) profession.

“The programme which was conducted in Lagos, Kwara, Bauchi, Nasarawa and Abuja, was done with the support from Google.

“In an era defined by technological advancements, it is crucial to equip young minds with the skills needed to thrive in the digital and tech age.

“MakeHER Space, played a vital role in shaping the futures of 288 bright students from various secondary schools across Lagos State.

“The programme focused on electronics and renewable energy, offering students the opportunity to learn and build essential gadgets like power banks, solar power chargers, and rechargeable lamps,” Odutola said.

He explained that throughout the school calendar year, the students who participated in the series of hands-on workshops and engaging activities that fostered their innovation and creativity, were enrolled in batches each term at the schools.

According to him, the programme is also designed to ignite the students’ passion for technology and provide them with the necessary skills to excel in this rapidly evolving field.

Odutola said that from learning the basics of electronics to harnessing the power of renewable energy, the students embarked on an inspiring journey of discovery.

“Through the programme, these aspiring technologists discovered their potential, gained invaluable skills, and laid the foundation for a bright future.

“The feedback from participants indicate that the girls believe they can fix minor problems with their electronic and rechargeable devices.

“Many further mentioned that they have more understanding of the functioning of solar powered devices and possible repairs when faltering, “he said.

He also noted that during the graduation ceremony, students who were outstanding throughout the programme were presented with well-deserving gifts.(NAN)(www.nannews.ng)

Edited by Vivian Ihechu

By Simon Akoje

Some financial experts have urged the Federal Government to explore Public Private Partnership (PPP) option in addressing the country’s infrastructural challenges.

They also urged government to be cautious on new borrowings in order not to incur more debts.

They said this in separate interviews with the News Agency of Nigeria (NAN) on Saturday in Lagos.

A former Executive Secretary, Chartered Institute of Bankers of Nigeria (CIBN), Dr Uju Ogubunka, said the Federal Government could be innovative in fixing developmental projects without incurring more debts.

“The government should harness the enormous prospects of the PPP in tackling infrastructural challenges impeding our economic growth.

“This model is one of the solutions in tackling our infrastructural dearth, due to our poor fiscal revenue currently,” Ogubunka said.

He noted that the three tiers of government need to reduce the increasing cost of governance in order to free funds for infrastructural purpose.

“Adopting this cost saving measures is imperative so as government can reallocate the resources to other productive needs of the society.

“This approach will stop wastages in governance and reduce the spate of being in debt from borrowings from international lenders,” Ogubunka said.

Also, the President Standard Shareholders Association of Nigeria, Mr Godwin Anono, said the government should reduce the rate of borrowings because the country’s debt stock was assuming a worrisome dimension.

“The three tiers of government should reduce borrowings and be innovative in improving Internal Generated Revenue.

“As every state in the country has enormous revenue potential that could be harnessed for our common good,” Anono said.

He noted that the Federal Government could tackle its infrastructural headwinds without more borrowings from international lenders.

“The government could harness the Infrastructural Company of Nigeria which is saddled with the appropriate template for private sector funding for public infrastructure.

“This will ultimately catalise growth and provide the necessary infrastructure that will unlock capacity to appropriate our natural resources to enhance the lives of the people,” Anono said.

Also, the founder of the Independent Shareholders Association of Nigeria, Mr Sunny Nwosu, said the Federal Government should muster the political will to sell some state owned assets to enhance revenues.

“They are too many redundant national assets which are increasing government overheads with no economic viability currently.

“The government should have a committee where they will be evaluated and concessioned and others sold outrightly,” Nwosu said.

This, he said, would boost the country’s revenues and ameliorate the urge for more debts.

NAN reports that Nigeria’s total public debt rose by fiat to N82 trillion following the unification of the naira. It was N73 trillion before the unification.

The Central Bank of Nigeria issued a press release titled Operational Changes to the Foreign Exchange Market, signaling a unification of the multiple exchange rates.

However, the implementation of the scheme which saw the exchange rate first depreciate to N662/$1 attracted several consequences for the economy one of which includes the automatic increase of the public debt.

Before now, the nation’s public debt was quoted at N448.50/$1 by the Debt Management Office as the official exchange rate but this has now been depreciated to N662/$1.

This means the total public debt increases from an estimated N79 trillion to N82 trillion.

The increase is due to the conversion of the dollar portion of the debt which is estimated at about $41.6 billion. When adjusted for the most recent exchange rate it converts to N27.6 trillion. (NAN)

Edited by Chinyere Joel-Nwokeoma