September 11, 2024

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1 Group drums support for FGs plan to privatise refineries

2 FG committed to independence of auditor-general’s office – Tinubu

3 FCTA, GAIN sign MoU on access to affordable, nutritious food

4 FG, stakeholders synergise to boost poultry production

5 Eguavoen says report of quitting false

Comptroller General of Customs (CGC), Comptroller Adewale Adeniyi,
Economy/Business

Tariff Removal: FG sets duty rate guidelines for staple foods

 

By Martha Agas

The Federal Government has unveiled guidelines for the implementation of the “Zero Per cent Duty Rate and Value Added Tax” exemption on certain basic food items.

The announcement is contained in a statement issued by the Spokesperson of the Nigeria Customs Service (NCS), Abdullahi Maiwada, in Abuja.

Maiwada said that President Bola Tinubu approved the guidelines through Wale Edun, the Minister of Finance and Coordinating Minister of the Economy.

The News Agency of Nigeria (NAN) reports that on July 8, the Minister of Agriculture and Food Security, Abubakar Kyari, announced the suspension of duties, tariffs, and taxes on certain imported food items.

The food items included maize, husked brown rice, wheat, and cowpeas.

According to Maiwada, the policy is effective from July 15, and will remain in place until Dec. 31.

He listed the guidelines, which include that only companies incorporated in Nigeria and operational for at least five years were eligible to participate in the zero-duty importation of the staples.

“The company must have filed annual returns and financial statements and paid taxes and statutory payroll obligations for the past five years.

“Companies importing husked brown rice, grain sorghum, or millet need to own a milling plant with capacity of at least 100 tonnes per day, operated for at least four years, and have enough farmland for cultivation.

“Those importing maize, wheat, or beans must be agricultural companies with sufficient farmland or feed mills/agro-processing companies with an out-grower network for cultivation,” he said.

The NCS official said that the Federal Ministry of Finance would periodically provide the service with a list of importers and their approved quotas to facilitate the importation of the staples within the policy’s framework.

He said that the policy required that at least 75 per cent of imported items be sold through recognised commodity exchanges, with all transactions and storage recorded.

“ Companies must keep comprehensive records of all related activities, which the government can request for compliance verification.

“If a company fails to meet its obligations under the import authorisation, it will lose all waivers and must pay the applicable VAT, levies, and import duties.

“This penalty also applies if the company exports the imported items in their original or processed form outside Nigeria,” he said.

He said that the policy was a temporary measure aimed at addressing the current economic hardships.

He added that it does not undermine the long-term strategies put in place to safeguard local farmers and protect manufacturers.

According to the spokesperson, the previous duty rate and levy for husked rice was 30 per cent, beans 20 per cent, wheat 20 per cent, while millet, maize and grain sorghum were five per cent.(NAN)(www.nannews.ng)

Edited by Kadiri Abdulrahman

Gender

Menstruation: NGO advocates tax removal on sanitary pad

By Justina Auta

An NGO, FemPawa Africa, has urged government to remove all taxes on menstrual pad to enable women and girls buy it, especially those in rural areas.

The Founder of the organisation, Dorkong Rimdam, made the call during an outreach at Government Secondary School, Bwari in Abuja on Saturday.

Rimdam said high cost of sanitary products, especially menstrual pad, was part of the challenges affecting girls’ health and education in the country.

She added that the cost often force girls to resort to unsafe alternatives during menstruation.

She said “if we can have free condoms, why can’t we have free pads, if we have have free toilet rolls in the bathroom, so why not pads?

“Sex is an option but menstruation is not a choice, and a lot of women and girls cannot access sanitary pads.”

According to her, removing tax on sanitary pads will help to reduce the cost and enhance accessibility and affordability for women.

“A pack of 10 pieces of sanitary pad is about N700, expected to be changed at intervals and a girl can use two or three a day.

“So, a girl may require two or three packs of pad for a menstrual cycle at the cost of more than N2000. Where will she get it?

Mrs Lois Amele, the Executive Director of Good Tides Philippians Mission Foundation, emphasised the crucial role of education in promoting menstruation hygiene.

Amele said there was need to equip girls with accurate information and empower them to adopt healthy practices from young age, thereby, dispelling myths and ensuring their well-being.

Deborah Nwachukwu, the Head Girl of Government Secondary School, Bwari, thanked the NGO for the efforts.

Nwachukwu said that the educational outreach had empowered her and her peers to embrace menstruation without stigma or fear.

She stressed the importance of fostering supportive environment, where girls feel comfortable discussing menstrual health openly.

On his part, Mr Shola Orunmbe, the Vice Principal, Academics, Government Secondary School, Bwari, commended the organisation for prioritising the empowerment and well-being of girls.

Orunmbe affirmed the school’s commitment to support the efforts.

Other highlights of the day was distribution of sanitary pads and kits for reusable pads, as well as teaching the students how to make use of them. (NAN)(www.nannews.ng)

Edited by Florence Onuegbu/Hadiza Mohammed-Aliyu

Business , Economy/Business

Paying tax not burden, but investment in collective future- Expert

 

By Vivian Emoni

Paying taxes should not be a burden but an investment to collective future, Mr Abdul-Kabir Opeyemi, an expert on Taxation and Revenue, said on Wednesday.

Opeyemi, Special Adviser on Taxation and Revenue to Lagos State Governor, Mr Babajide Sanwo-Olu, made the assertion in an interview with the News Agency of Nigeria (NAN) in Abuja.

He emphasised the need to make the country’s tax system more transparent and accountable to Nigerians to boost confidence and voluntary compliance.

He said that Nigeria needed a tax system that incentivised investment, job creation, and economic diversification.

According to him, we should not see paying of taxes as a burden and stress, rather we should see it as an investment or contribution to our collective future.

“I want to use the opportunity to encourage our people to contribute their quota in order to assist the government to fulfill their developmental goals as promised.

“We want to take tax system to the next level, by investing heavily on infrastructure and sustaining the autonomy of Lagos internal revenue service.

“We also want to ensure that we deepen the technology used in monitoring revenue collection from all sources.

“An example is, integrating all revenue in generating unit which we call Ministries, Department and Agencies (MDAs) into sharing data, intelligence and the likes,” he said.

Opeyemi said that the efforts would make the revenue a great deal as well as supporting the government to achieve its goals.

He said that the state was trying to widen the tax length to accommodate people that were not hitherto in the tax length before now.

He encouraged the taxpayers to have a change of mindset, adding that taxes play crucial role in building a better Nigeria and for generations to come.

“Tax payers need to see that their contributions are being used effectively for public services and infrastructural development.

“We are doing very well. We have doubled our revenue and are moving closer to our target,” he said. (NAN) (www.nan.ng)

 

Edited by Vivian Ihechu

General News

CITN advocates sustainable tax culture for economic dev’t

 

By Vivian Emoni

The Chartered Institute of Taxation of Nigeria (CITN), on Tuesday, tasked government at all levels to build an efficient and effective sustainable tax culture for sustainable economic development.

Mr Samuel Agbeluyi, President of the CITN, said this in Abuja, at the 26th Annual Conference, with a theme: “Sustainable Tax Culture and Economic Roadmap for Nation Building”.

Agbeluyi said that government at all levels have a great role to play, adding that taxation demands utmost level of professionalism due to its critical importance to economic sustainability.

“In building a sustainable tax culture, government have a vital role to play. In furthering efforts at sustaining a tax paying culture, it is important to emphasise judicious use of tax revenue.

“This is to engender trust between government and taxpayer, thereby entrenching a tax paying culture and by extension, contributing to nation building.

“Taxation is not merely about revenue collection, it is about building a sustainable future for our country.

“It is about creating a culture where every citizen understands the importance of contributing fair share toward national development.

“It is more importantly about prudently using tax policies as a roadmap to drive economic growth, social inclusiveness and prosperity for all,” he said.

Agbeluyi emphasised the need to invest in technology, adding that the efforts would help people to effectively track revenues in the digital space, including cryptocurrency to maximise government revenue flow.

He said that CITN converged tax experts to critically examine challenges in Nigeria’s fiscal and tax environment with a view to providing solutions for the consideration of policy makers in that regard.

He said that it was necessary to provide support to the revenue authorities by way of financial and administrative autonomy to empower them to effectively administer taxes.

According to him, as a commitment to fully enforce the implementation of Act No. 76 of 1992, redesignated as Cap. C10, Law of Nigeria, 2004, confers on CITN the powers to regulate the taxation profession in all its ramifications in the country.

He, however, urged government at all levels to create career path for tax functions within Ministries, Departments and Agencies (MDAs), to promote professionalism and efficiency.

Dr Yemi Sanni, the Chairman of the conference, said for Nigeria to achieve meaningful physical development, it is imperative to establish a tax culture that would withstand economic challenges.

Sanni said that government was prioritising the improvement of tax revenue for physical performance as the leading professional body in taxation in Nigeria.

According to him, the emphasis on “sustainable” is deliberate, adding that it requires a concerted effort from all stakeholders including the government tax professionals and tax payers themselves.

“It is our responsibility to support these efforts by convening gatherings like this conference.

“We provide a platform for deliberation and collaboration with the aim of developing actionable recommendations that will help the government achieve its desired objectives.

“As we delve into the intricacies of taxation and economic development, I encourage you all to take sometime to relax, network and enjoy the camaraderie of fellow professionals.

“This conference offers opportunities for learning and building lasting connections and friendships. I want to assure you that we have assembled a line up of distinguished facilitators who are experts in their respective fields.

“I urge you to actively engaged in discussions, share your insights and take advantage of the weight of knowledge that will be shared during this conference,” he said.

Sen. Ibikunle Amosun, Special Guest of the occasion, encouraged government of all levels to be more committed in ensuring that people were more equipped with knowledgeable skills needed to build on effective tax system.

Amosun was also former Governor of Ogun State.

Alhaji Ahmed Aliyu, Governor of Sokoto, in his remark, said that the state generates about N3.4 billion internal revenue quarterly.

Aliyu said that the state was committed to collaborating with CITN and other relevant stakeholders to achieve a tax driven economy.

He appreciated members of the CITN and other stakeholders for working assiduously towards  ensuring that the conference was a huge success. (NAN) (www.nannews.ng)

Edited by Rabiu Sani-Ali

Federal Capital Territory Internal Revenue Service (FCT-IRS) logo
Business , Economy/Business

Revenue drive: FCT-IRS restates commitment to support relevant agencies in FCT

By Vivian Emoni

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has restated its commitment to support relevant agencies of the Federal Capital Territory Administration (FCTA) in its drive to boost revenue generation in the territory.

The Acting Executive Chairman of the Service, Mr Haruna Abdullahi said this while handing over office furniture and desk computers to the Department of Development Control in Abuja.

The items were handed over through the Coordinator of the Abuja Metropolitan Management Council (AMMC), Mr Felix Obua.

Abdullahi said discussions had been ongoing with the Development Control in terms of how the service could support them to enhance their operations and further strengthen the collaboration between both organisations.

“We feel it is high time we start. We have to begin with a step and this small number of computers we are presenting to you is nothing compared to what we intend to do.

“This is very little in terms of what we hope to be doing to boost revenue in the territory.

“We are glad to be here and it is also an opportunity to meet you personally to congratulate you on your recent appointment as the Coordinator AMMC,” Abdullahi said

The AMMC coordinator, while receiving the items, expressed appreciation to FCT-IRS for the kind gesture.

He pledged to continue to work in synergy with the service to enhance revenue generation in the FCT.

Abua said he was delighted to receive the FCT-IRS team and also happy to be in partnership with an organisation like FCT Tax Authority.

According to him, the donation of the items will go a long way in making their work easier.

Also speaking, the Director, Department of Development Control, Mr Mukhtar Galadima, thanked the service for fulfilling its promise.

Galadima said that the doors of the department were open for a continuous collaboration with the FCT-IRS.

He said with the new leadership they have, he was certain that the revenue generation would be boosted.

According to him, there are a lot of untapped resources at the satellite towns in the FCT that needed to be harnessed.

“They have been challenged in terms of human and technological resources.

“With a collaboration like this, it will help in no small measure to boost their revenue and by extension enhance the revenue of the territory,” he said. (NAN)(www.nannews.ng)

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Edited by Ese E. Eniola Williams

Health

Obesity: Coalition advocates Tax increase on sweetened drinks

By Aderogba George

The National Action on Sugar Reduction (NASR), a coalition, is advocating for an increase in taxes on Sugar Sweetened Beverages (SSBs) to alleviate the burden of obesity.

Omei Bongos-Ikwue, a representative of NASR, made this call during a rally in Abuja to commemorate the 2024 World Obesity Day, celebrated annually on March 4.

He highlighted that global statistics indicate one in eight people worldwide grapples with obesity.

He said alarming figures revealed that 30 per cent of Nigerians are overweight, with 15 per cent classified as obese.

Bongos-Ikwue emphasised the World Health Organisation’s (WHO) recognition of the global scale of the obesity crisis, affecting more than 1 billion people worldwide.

He attributed the disease primarily to excessive calorie intake, posing a significant threat to health.

According to Bongos-Ikwue, SSBs, identified as the primary source of added sugar in diets, have been scientifically linked to abdominal obesity.

“SSBs are identified as a key driver of cardiometabolic diseases, including heart disease, cancer, and type 2 diabetes.

“This rally featured an extensive awareness campaign, engaging choreography by volunteers, games, and informative factsheets aimed at enlightening the public.

“We urge the government to implement higher taxes on sugary drinks.

“The goal of this pro-health tax is to protect more Nigerians from the risks of obesity; alleviate the burden on the healthcare system, and promote a healthier society,” Bongos-Ikwue said. (NAN) www.nannews.ng

Edited by AbdulFatai Beki and Chijioke Okoronkwo

Economy/Business

No plans to tax online content creators – FIRS

By Kadiri Abdulrahman

The Federal Inland Revenue Service (FIRS), says it has no plans to tax online content creators.

According to a staff of the agency who spoke under the condition of anonymity, skit makers are individuals who do not fall within the purview of the FIRS.

“FIRS does not tax Personal Income Tax, States governments do.

“FIRS collects Company Income Tax. Only those who are corporate names and earn profit of N25 million and more are required to pay tax,’’ he said.

The News Agency of Nigeria (NAN) reports that a section of the media recently quoted the FIRS as saying that media content creators and influencers constituted a major block of tax evaders.

Meanwhile, the FIRS recently unveiled a new structure to improve the country’s tax administration.

The Executive Chairman of the FIRS, Dr Zacch Adedeji, said that the structure was in pursuit of a more efficient and contemporary tax administration methodology.

He said that the agency was embracing an integrated tax approach, leveraging technology at every step.

“This approach positions FIRS at the forefront of innovation, ensuring that we meet the evolving needs of our taxpayers in a rapidly changing world.

“The structure advocates a comprehensive approach to taxpayer services, consolidating our core functions and support under one umbrella.

“By tailoring our services to specific taxpayer segments, we aim to simplify the taxpayer experience.

“No more complexities, no more overlaps, just a seamless and user-friendly interaction for every taxpayer,’’ he said.

He said that the move would shift the agency away from traditional tax categorisation. (NAN) (www.nannews.ng)

Edited by Ese E. Eniola Williams

Entertainment

Aisha Achimugu asked to file tax returns after Grenada grand birthday bash

By Chinenye Offor

The FCT-Internal Revenue Service (FCT-IRS) reminded Abuja socialite Mrs Aisha Achimugu to fulfill her tax obligations on Saturday.

FCT-IRS posted on its social media X handle, wishing the socialite warmest birthday wishes as she lavishly celebrated her 50th birthday, setting the Caribbean state of Grenada agog in a seven-day bash.

Achimugu, the founder and managing director of Abuja-based Felak Concept Group, turned 50 on Jan. 22.

“The FCT-Internal Revenue Service extends our warmest birthday wishes to you! May this special day be filled with joy and blessings. Remember to fulfill your tax obligations by filing your annual tax returns,” FCT-IRS posted.

The dedicated website for the seven-day birthday party included information regarding visa arrangements, available chauffeurs, travel schedules, and the nearest airport to the event venue.

The festivities began on Jan. 16 with the arrival of guests. The following day, the event started with a welcome breakfast, exploring the resort, and mingling.

On day four, attendees wore vibrant African attire for special performances, including drum dances. A bonfire provided a cozy backdrop as guests gathered for an evening of warmth and music.

Day Five showcased performances by a local band, various cocktails, and a retro disco party. On the sixth day, guests embarked on an island excursion.

On Jan. 23, the seventh and final day began with an all-white breakfast culminating in a luxurious dinner-themed ‘glitz and glam’ before guests bid farewell to Grenada.

Many socialites and prominent Nigerians, including a governor of one of the Southwest states, reportedly graced the birthday bash. Those in attendance were said to have flown from Nigeria to Grenada in hired jets.

Some described the birthday bash as one of the most lavish parties they had ever attended or heard of.

The celebrant hired Calivigny Island for a week and booked rooms for her guests at Silversand, Grenada.

Mrs Achimugu was reported to have changed clothes at the party at least 30 times, with each dress reportedly costing thousands of dollars.

These were in addition to the high-end clothes she wore for a photoshoot with a celebrity photographer before the event.

Throughout the evenings, she wore costly diamond jewelry, designer shoes, and carried Hermes crocodile leather handbags, each estimated to cost between $50,000 and $80,000.

One of the many gatherings occurred aboard the Silver Angel, a yacht sailing on the Caribbean Sea under the flag of the United Kingdom.

According to reports, Achimugu spent nearly one million dollars (more than N1 billion) to rent the island for the entire week.

A significant number of local and international A-list musicians and entertainers flew in to perform at the various events. Artistes who performed included American saxophonist and composer, Kenny G, Nigeria’s Waje, Flavour, Adekunle Gold, Asake, and Mr Killa, a Grenadan musician.

The event was filled with lots of activities from swimming to extravagant meals, bonfires, kayaking, and treasure hunting.

The Nigerian version of the birthday bash continued on Friday at Transcorp Hotel, Abuja, and another one on Saturday at an undisclosed location.

Achimugu holds a Bachelor’s degree in Accounting from the University of Jos. She also holds an honorary degree from The Commonwealth University, Belize, also in the Caribbean.

She married Engineer Sulaiman Achimugu, a former Managing Director of the Pipelines and Products Marketing Company, and they have three children.

Mr Achimugu lost his life to Coronavirus in 2020. (NAN) (www.nannews.ng)

Edited by Alli Hakeem

Economy/Business

Expanded tax net will boost govt revenue, service delivery – RMAFC

By Kelechi Ogunleye/Kadiri Abdulrahman

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), has urged Nigerians to endeavour to pay their taxes to boost government revenue and improve service delivery.

The Chairman of RMAFC, Alhaji Muhammad Shehu, said this in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja.

According to Shehu, less than 40 million Nigerians are presently captured in the tax net and paying taxes.

“That is too low for a country that has more than 200 million population,” he said.

He commended the idea of a Tax Reform Committee recently set up by President Bola Tinubu.

He said that the committee would do a lot to include economic players from the informal sector into the tax net.

“There is all these debate about the informal economy.

“What this tax reform committee that we have set up will do is bring a lot of agencies together, including RMAFC. We are a member of that committee.

“We have articulated our position and we will communicate what we believe that can add value to the discussion.

“At the end of it all, we will have a better society where more people are paying taxes and the money will be utilised for better services and infrastructure so that every Nigerian can benefit, ‘” he said.

He urged the Federal Inland Revenue Service.(FIRS) to collaborate with the Nigeria Customs Service (NCS) to identify certain categories of Nigerians who evade taxes.

“There are some taxes that the government is not getting from Nigerians.

“Somebody will declare an income of N600,000 in a year but that same person will import a vehicle of N40 million into Nigeria.

“I believe the FIRS will look at all those things, aand then collaborate with the NCS for better efficiency.

” If you import a brand new car, your name, your date of birth, your address, your NIN number should all be required.

“They should place a search and see what it is that you filed last year, how much taxes you paid to the government. Thereby, they will get a lot more people to pay taxes,” he said.

He urged all Nigerians to embrace the idea of willingly paying their taxes so as to boost government’s revenue drive.

“I think it is very important for every Nigerian to try and pay their taxes because it is from those monies you get services.

“All the things that people like to tell you about clean environment, good roads, functional infrastructure in other countries, it is the taxes that citizens pay that are utilised for those services.

“People should learn to pay electricity bills, they should pay their water bills they should pay just like you pay for telephone recharge cards.

“The more you pay your taxes, the more money government has to put into road, rail construction, better hospitals, pension, social securities, and better plan to help the needy,” he said. (NAN)(www.nannews.ng)

Edited by Ese E. Eniola Williams

Illustration for Sugar Sweetened Beverages (SSBs)
Business

FG commits to 20% global standard taxation on SSBs — Official

By Funmilayo Adeyemi

The Federal Government says it is committed to attain the global best practice of nearly 20 per cent taxation on the final retail price on all Sugar Sweetened Beverages (SSBs).

Dr Chukwuma Anyaike, Director, Head Public Health Department, Federal Ministry of Health disclosed this on Tuesday in Abuja at the Pro-Health, Tax Policy Campaign on Sugar Sweetened Beverages.

According to Ayaike, Non-communicable Diseases (NCDs) continue to remain the leading cause of death in Sub-Saharan Africa and the World Health Organisation Assembly has endorsed a package of 16 evidence based interventions focusing on addressing NCD Risk Factors.

These he said included tobacco, harmful use of alcohol, physical inactivity and unhealthy diet.

“One of the interventions is the use of taxes on products that have a negative public health impact with the explicit goal of reducing consumption of such products.

“These taxes are considered to have the potential to reduce NCDs while advancing health equity.

“To achieve that, this campaign aligns with other government efforts in improving the public health of the Nigerian populace to meet up with the global priority of significantly reducing NCDs.

“Excess consumption of SSBs has become a significant public health concern and a threat to the future generation as its consumption is high among children and adolescents,” Ayaike said.

He explained further that numerous studies had linked high consumption of SSB to an increased risk of tooth decay and cavities, weight gain, obesity, type 2 diabetes, cardiovascular diseases, chronic obstructive pulmonary disease, cancer and other NCDs.

“The World Health Organisation (WHO) advises that limiting the intake of sugar-containing drinks can help individuals maintain healthy weight and healthy dietary pattern (WHO 2020).

“Nigeria is a low and meddle-income country where more than 70 per cent of the populace pay for health expenditure out of pocket and a part of the countries with 77 per cent of the global 41 million deaths caused by NCDs.

“This has been established by WHO and duly captured in Nigeria’s road map to eliminating the scourge of NCDs as contained in the multisectoral action plan (NMSAP) for ending NCDs.

“Which is under the purview of the Non Communicable Diseases Division of the Federal Ministry of Health. This campaign is therefore vital to actualisation of the reduction of SSB usage in Nigeria,” the director said.

On his part, Mr Edozie Chukwuma, a member of the National Action on Sugar Reduction (NASR) an NGO, organisers of the campaign said the campaign was to call on government to increase the tax of SSBs.

“Currently Nigerian government collects N10 tax per litre which was instituted via the finance act however, WHO recommends at least 20per cent tax.

“To ensure that this taxation is passed to the consumers to discourage consumption and forcing people to should alternative which is basically water and fruits.

“Currently there is a burden of non-communicable diseases in the country and it needs to be addressed , it’s an all time high with over 75 per cent of Nigerians paying from their pockets for the treatment.

“Consumption of sugary drinks is affordable and accessible to the middle and low income earners, you can not compare the cost of consumption over the cost of treatment,” he said.

Chukwuma therefore urged government to protect Nigerians by increasing the tax on each litre of SSBs and the channel revenue from sugary drinks into funding of healthcare.

A sufferer of the type 2 diabetes at the campaign, Mr Peter Agada, advised Nigerians to reduce or totally eliminate the consumption of SSBs adding that we are what we eat.

“I have suffered this disease for 26 years now, it is not a palatable story to tell, in our societ that nearly everything we eat has carbohydrates base, we should stay clear of SSBs, one out of 17 persons in Nigeria is a sufferer.

“So it something that government should really wake up and do something about, by involving agencies like National Orientation Agency, and other related agencies to create awareness.

“We need to wake up to knowledge based eating, minimise on your carbohydrate, eat a lot of vegetable, if you afford fruits, eat your fruit whole don’t blend it, eat them as natural as they come,” Agada said. (NAN)(www.nannews.ng)

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Edited by Ekemini Ladejobi

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