News
BREAKING: Nigeria Governors Agree on No VAT, CIT Increase For Now
Nigeria Governors Forum (NGF) agreed at the end of subnational meeting today in Abuja that there should be “No hike in VAT, and No reduction in corporate Income tax CIT) for now. This is to maintain economic stability.
This is disclosed in a communique issued today and signed by Abdulrahman Adbdulrazaq, Chairman of the NGF & Governor of Kwara State.
The governors, at the end of a meeting of subnational consultations and engagement, on Thursday in Abuja, with the Chairman of Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, said that the Forum have also endorsed a revised VAT sharing formula to ensure equitable distribution of resources of 50% based on equality, 30% based on derivation, and 20% based on population.
The governors have resolved that there should be no increase in the VAT rate or reduction in Corporate Income Tax (CIT) at this time in order to maintain economic stability.
Also, they have called for the continued exemption of essential goods and agricultural produce from VAT as that would help safeguard the welfare of citizens and promote agricultural productivity.
They also, at the end of the meeting, recommended that there should be no terminal clause forTertiary Education Trust Fund, TETFUND; National Agency for Science and Engineering Infrastructure, NASENI, and National Information Technology Development Agency, NITDA, in the sharing of development levies in the bills.
The meeting supports the continuation of the legislative process at the National Assembly that will culminate in. the eventual passage of the Tax Reform Bills.
News
Bamanga Tukur, former Adamawa gov, ex-PDP Chair dies at 90
Tukur, who died three days before his 91st birthday, was one of the prominent political figures whose career cut across Nigeria’s military and civilian administrations, the private sector and continental business circles.
BAMANGA Tukur, former National Chairman of the Peoples Democratic Party, PDP, and former governor of Gongola (now Adamawa)State, is dead, aged 90.
Family’s sources confirmed his death on Saturday, although details surrounding his passing were not immediately made public.
Tukur, who died three days before his 91st birthday, was one of the prominent political figures whose career cut across Nigeria’s military and civilian administrations, the private sector and continental business circles.
Born on September 15, 1935, he began his public service career at the Nigerian Ports Authority, NPA, where he served as General Manager from 1975 to 1982.
He moved into elective politics and won the Gongola State governorship election in 1983, but his tenure was cut short by the military coup in December of the same year.After leaving office, Tukur turned to business and founded BHI Holdings, popularly known as the DADDO Group of Companies.
He later returned to government as Minister of Industries between 1993 and 1995 under the military administration of General Sani Abacha.Tukur also played prominent roles in African business and economic affairs, serving as Executive President of the African Business Roundtable and Chairman of the NEPAD Business Group.
He held advisory positions with several international trade organisations.
In March 2012, he returned to partisan politics when he was elected National Chairman of the PDP with the backing of then-President Goodluck Jonathan.
His tenure, however, was overshadowed by prolonged internal disagreements within the party, culminating in his resignation as national chairman in January 2014.
News
Albert Horsfall, Ex-SSS Director-General dies
“Details of funeral arrangements and other related activities will be communicated in due course.”
A former Director-General of the State Security Service and pioneer Director-General of the National Intelligence Agency, Albert Horsfall, has passed on.
Horsfall’s death was announced in a statement released on Friday, signed by his son, Donald Horsfall, and obtained by our correspondent.
According to the statement, the transition of the elder statesman and great son of Rivers State occurred peacefully, describing him as a “beloved patriarch.”
While the family mourns his death, the statement said they would be comforted by the extraordinary life he lived and the indelible mark he left on the sands of time.
“Details of funeral arrangements and other related activities will be communicated in due course,” it added.
News
US delivers military equipment to Nigeria
The US Africa Command (AFRICOM), in a statement on its website on Thursday, said the equipment was delivered in September through a US Air Force C-17 aircraft.
The United States has delivered military equipment to the Nigerian Air Force in Lagos and Kainji, Niger State, to support counterterrorism operations.
The US Africa Command (AFRICOM), in a statement on its website on Thursday, said the equipment was delivered in September through a US Air Force C-17 aircraft.
According to the command, the delivery was part of a foreign military sales agreement between the United States and Nigerian militaries.
“The delivery furthers the strategic partnership between the two nations in order to enhance Nigerian-led efforts to counter terrorism in the region.
U.S. military support to the Armed Forces of Nigeria is by its invitation and rooted in respect for Nigerian sovereignty,” AFRICOM said.
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