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OUR 2020 FINANCE BILL EXEMPTS MINIMUM WAGE EARNERS FROM TAX – BUHARI

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CUSTOMSGATE: $3 BILLION PROJECT RUNS INTO DISPUTE

In order to reduce the impact of inflation on Nigerians, the Buhari administration through the 2020 Finance Bill is proposing the exemption of minimum wage earners from the Personal Income Tax.

 

 

And when coupled with other items in the proposed Bill, and various economic policies of the Federal Government, these incentives would ensure the resilience of the Nigerian economy to exogenous shocks, according to President Muhammadu Buhari.

 

The President made these disclosures in his speech delivered virtually by Vice President Yemi Osinbajo, SAN, on Monday at the opening session of the 26th Nigerian Economic Summit Group Conference themed: “Building Partnerships for Resilience”.

 

 

According to the President, “we are proposing in the new Finance Act that those who earn minimum wage should be exempted from paying income tax.

 

 

 

“These provisions which complement the tax breaks given to small businesses last year will not only further stimulate the economy, but are also a fulfilment of promises made to take steps to help reduce the cost of transportation and the impact of inflation on ordinary Nigerians.”

 

 

Explaining the role of the private sector in building a resilient economy, President Buhari said “this government has always emphasized that the private sector has a key role to play in our efforts to build a more resilient and competitive economy as expressed in the Economic Recovery and Growth Plan.

 

 

 

“Private companies in design, construction, logistics and finance are very much engaged in our infrastructural projects in power and rail as well as road and bridges and the installation of broadband infrastructure which is an essential requirement if Nigeria is to participate actively and benefit from the 4th Industrial Revolution.”

 

 

 

Continuing, the President added, “…it is clear that we must diversify the economy away from dependence on crude oil exports, speed up human capital development and improve on infrastructure. Above all, our economy must be made more resilient to exogenous shocks. It is important for the private sector to play a key role as we work together to identify national priorities and try to influence our future national trajectory.”

 

 

The President also gave insights to the collaboration between the CBN, the Nigerian Sovereign Wealth Investment Authority (NSIA) and other stakeholders in the creation of an Infrastructure Company (Infraco) Fund to address some of the nation’s critical infrastructure needs.

 

 

 

“It goes without saying that partnerships remain essential to attract the resources for building a solid national infrastructural base. I am pleased to inform you in this regard that we are working actively with the Central Bank, Nigerian Sovereign Investment Authority and State Governments under the auspices of the National Economic Council to design and put in place a N15 trillion Infraco Fund which will be independently managed.

 

 

 

“The Infraco Fund will help to close the national infrastructural gap and provide a firm basis for increasing national economic productivity and growth,” the President explained.

 

 

Restating the commitment of his administration to sustaining collaborations with the private sector in addressing challenges, President Buhari said “if there is one single lesson to be learnt from the COVID-19 pandemic, it is that partnerships are essential for credible responses with lasting effects.”

 

 

His words: “Our national journey to economic prosperity is a long one, so we must all certainly work together. As we saw, partnerships were essential when we were faced with the serious challenge of combatting COVID-19.

 

 

“We saw the key role that partnerships played in our national effort to combat the COVID-19 crisis. While Federal and State Governments worked together to manage the health response and ensure the establishment of isolation centres and availability of test kits, personal protective equipment, and medicines, the private sector also played an active role as individual entities, and also worked together in groups like the Coalition Against COVID-19.”

 

 

During the speech presentation, the Vice President responded to the issue of import duties raised by some speakers at the summit. The Vice President noted that “the point of the reduction in levies on motor vehicles, commercial vehicles for transportation is to reduce the cost of transportation by reducing the cost of vehicles.”

 

 

 

He explained that “with subsidy removal and the increase in fuel price and the pass-through to food prices, transportation costs had to be reduced. Now the automotive policy is directed at localizing the production of vehicles. So the logic was increase the duty and levies so that local production becomes more competitive. But the annual demand for vehicles is about 720, 000 vehicles per year. Actual local production is 14,000 vehicles a year.

 

 

 

“So, the problem is that at current rate of production, we will not meet the serious national needs and this will just mean higher prices of vehicles and greater strain on other sectors of the economy that depend on transportation. But we are not giving up on the local auto industry.

 

 

“Two important things to note; the first is that we still have relatively high duty at 35%, so there is still a disincentive for importation. Second is that we are promoting policy that the government must buy only locally manufactured cars.”

 

 

The opening session of the summit featured presentations by speakers including Chairman of the Nigerian Governors Forum and Governor of Ekiti State, Mr Kayode Fayemi; Governor Aminu Bello Tambuwal of Sokoto State; Chief Executive Officer of MainOne, Ms Funke Opeke; and the Chief Executive Officer of GIG Group, Mr Chidi Ajaere; among others.

 

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AANI ADVOCATES FOR PEACEFUL DIALOGUE AND CALM AMIDST AUGUST 1 PROTEST

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AANI ADVOCATES FOR PEACEFUL DIALOGUE AND CALM AMIDST AUGUST 1 PROTEST

AANI ADVOCATES FOR PEACEFUL DIALOGUE AND CALM AMIDST AUGUST 1 PROTEST

 

 

 

 

 

 

 

Sahara Weekly Reports That The Alumni Association of the National Institute (AANI), a non-partisan, impartial, and non-profit voluntary association, consisting of highly patriotic Nigerians, elder statesmen and women, including former Heads of State and revered traditional rulers; expresses profound concern over the impending August 1st 2024 protest. We find it crucial to join other well meaning Nigerians in appealing to all stakeholders to seek a peaceful dialogue as an alternative solution.

 

 

 

 

AANI ADVOCATES FOR PEACEFUL DIALOGUE AND CALM AMIDST AUGUST 1 PROTEST

 

 

 

 

In this context, we acknowledge the planned 10-day protest by some Nigerians, primarily youths, who seek a better, more prosperous, and secure Nigeria. While protests are a vital aspect of democratic expression, we recognize the legitimate concerns that such actions may be hijacked or that leaders might lose control, especially if some protesters have ulterior motives, as seen in other African countries and parts of the world.

 

Considering these concerns, AANI calls for dialogue and calm ahead of the planned protests. We believe that peaceful and constructive engagement between the government and the protest organizers, is essential to addressing the issues raised and ensuring the safety and security of all Nigerians. Therefore, we urge the government at all levels to initiate an open and transparent dialogue with the protest organizers to understand their demands and work towards practical solutions. This engagement should be inclusive, involving all stakeholders to ensure that the voices of the youth and other concerned citizens are heard and addressed.

 

We commend President Bola Ahmed Tinubu, GCFR, for his proactive approach to initiating dialogue with the youth, urging them to cancel their planned protest and patiently await the government’s response. According to the Minister of Information and National Orientation, Mohammed Idris, the President is attentive to the voices of young Nigerians and is diligently working to address their grievances. This demonstration of empathy and responsiveness is a commendable step towards fostering trust and understanding between the government and its citizens.

 

However, we urge the government to take additional proactive measures to ensure that the protest remains peaceful and that security forces are deployed to protect the rights of the protesters while preventing any attempts by hoodlums to hijack the movement for nefarious purposes. While immediate actions are necessary, long-term strategies and policies must be implemented to address the root causes of these challenges and to foster a more equitable and prosperous Nigeria.

 

We also appeal to all Nigerians, especially the youth, to remain calm and peaceful in their conduct. Exercising restraint and engaging in constructive dialogue is essential to achieving the desired outcomes without causing further harm to our economy and social fabric. AANI reaffirms its commitment to the unity, peace, and progress of Nigeria. We stand ready to support any initiatives that promote dialogue, understanding, and constructive engagement in addressing the pressing issues facing our nation. Let us all work together to build a better Nigeria for ourselves and future generations.

 

AMBASSADOR EMMANUEL OBI OKAFOR, mni

AANI National President

Abuja

Thursday July 25, 2024

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Supplementary Budget: Centre Lauds Reps Appropriations Chair Bichi Over Thorough Scrutiny, Public Engagement

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Supplementary Budget: Centre Lauds Reps Appropriations Chair Bichi Over Thorough Scrutiny, Public Engagement

Supplementary Budget: Centre Lauds Reps Appropriations Chair Bichi Over Thorough Scrutiny, Public Engagement

 

 

The Centre for Accountability and Probity (CAP) has commended the Chairman of the House of Representatives Appropriations Committee, Rt. Hon. Abubakar Bichi, for his commitment to transparency and accountability.

 

Supplementary Budget: Centre Lauds Reps Appropriations Chair Bichi Over Thorough Scrutiny, Public Engagement

 

In a statement signed by Princess Ajibola Naomi, its Coordinating President, the Centre said the recent transmission of the supplementary budget has been met with thorough scrutiny and public engagement by Bichi.

Naomi said that in his characteristic manner, Bichi is engaging stakeholders, conducting public hearings, and scrutinizing the executive bill to ensure that the supplementary budget serves the best interests of Nigerians.

“Bichi’s innovative approach to the budgetary process has introduced a new level of transparency and accountability, setting a benchmark for future budgetary processes,” she said.

“His commitment to ensuring that every detail is scrutinized, and the executive accounts for every penny, is a testament to his dedication to the Nigerian people.

“Bichi has introduced public engagement and scrutiny of the budget estimates, ensuring that stakeholders’ inputs are considered.

“He has also conducted public hearings to ensure transparency and accountability and analysed every detail of the executive bill to prevent misappropriation of funds.

“Furthermore, he has ensured that the supplementary budget aligns with the priorities of Nigerians.”

In addition, Naomi said Bichi has also improved the budget process by ensuring timely submission of budget estimates by MDAs, conducting regular oversight visits to monitor project implementation, and engaging with civil society organizations to ensure inclusivity and transparency.

She noted that the Appropriations Committee has also utilised technology to enhance budget tracking and monitoring, and provided clear and concise budget reports for easy understanding.

“Bichi’s leadership has changed the narrative in the budgetary process, promoting transparency and accountability,” she added. “His commitment to ensuring that the executive accounts for every penny has given Nigerians confidence in the budgetary process”.

The Centre for Accountability and Probity, therefore, urged Nigerians not to worry about the budget, as Bichi’s commitment ensures that it will be utilized effectively for the benefit of all Nigerians.

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ECOWAS PARLIAMENT REITERATE CALL FOR IMPROVED WOMEN REPRESENTATION IN GOVERNANCE

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ECOWAS PARLIAMENT REITERATE CALL FOR IMPROVED WOMEN REPRESENTATION IN GOVERNANCE

ECOWAS PARLIAMENT REITERATE CALL FOR IMPROVED WOMEN REPRESENTATION IN GOVERNANCE

 

 

 

 

 

 

 

Sahara Weekly Reports That The First Lady Oluremi Tinubu says women have to learn how to obtain power the e ECOWAS Female Parliamentarian Association has held its Spotlight Initiative with the theme; Re-thinking Women’s Proportional Representation in Governance.

 

 

 

 

ECOWAS PARLIAMENT REITERATE CALL FOR IMPROVED WOMEN REPRESENTATION IN GOVERNANCE

 

 

 

 

The First Lady of the Federal Republic of Nigeria, Senator Oluremi Tinubu noted that the President Bola Ahmed Tinubu’s administration has made significant progress in this regard but barriers still exist especially culturally and socially.

 

 

 

 

 

 

 

 

 

“These barriers include deeply entrenched societal norms, systemic discriminatory practices, structural issues within our political systems, and financial incapability”.

 

 

 

 

 

 

 

 

 

“To achieve this across board, we must be seen to walk the talk. For instance, our party, the All Progressives Congress (APC), has taken significant steps to remove financial barriers by making nomination forms for elective positions free at grassroots level, ensuring that capable and qualified women can participate in the political process without the burden of prohibitive costs”.

 

 

 

 

 

 

 

 

 

 

 

 

Senator Oluremi Tinubu commended the Federal House of Representatives for its recent passage of the Bill seeking 74 seats for women in the National Assembly in a bid to encourage more female participation in politics and governance.

 

 

 

 

 

ECOWAS PARLIAMENT REITERATE CALL FOR IMPROVED WOMEN REPRESENTATION IN GOVERNANCE

 

 

 

 

“I believe that the leadership in the Senate is gender-friendly”.

 

 

 

 

 

 

 

 

 

“Power is not served A’lar carte, just as my husband, President Bola Tinubu said. You have to learn how to obtain power. You need older women to mentor you”.

 

 

 

 

 

 

 

 

 

 

 

“Education is the cornerstone of empowerment. By improving access to education for girls and women, we can equip them with the knowledge and skills necessary to participate effectively in political processes. Additionally, raising awareness about the importance of women’s representation in governance is crucial. Public campaigns, media engagement, and community programs can help shift societal attitudes and dismantle stereotypes that hinder women’s political participation”.

 

 

 

 

 

 

 

 

 

 

 

 

 

The Speaker of the ECOWAS Parliament who is also the first female to occupy the position, Rt Hon Hadija Memounatou Ibrahimah in her remarks urged the First Lady of Nigeria to serve as the champion of the course of better representation for women in governance in the region.

 

 

 

 

 

 

 

 

 

 

 

 

This she noted is especially so with the commendable contributions to the issues of women and girls.

 

 

 

 

 

 

 

 

 

“Your Excellency, you transmit a kind of light that illuminates the leadership of Nigeria. It touches the lives of even the ordinary man”.

 

 

 

 

 

 

 

 

 

 

“Women account for half of the population of ECOWAS member States. Only 17% are Parliamentarians and 24% are Ministers in the region. It is high time to reduce the under representation of women in democracy”.

 

 

 

 

 

 

 

 

 

The Senate President, Senator Godwill Akpabio who was represented by the Deputy Senate President Jibrin Barau stated that for the Senate, women participation in governance is a priority.

 

 

 

 

 

 

 

 

 

 

 

“We will redefine the power of women in governance”.

 

 

 

 

 

 

 

 

 

After the Session, the First Lady, Senator Oluremi Tinubu in a nostalgic move, visited the newly renovated hallowed Red Chamber. She commended the leadership of the senate.

 

 

 

 

 

 

 

The First Lady was a 3 term Senator representing Lagos Central Senatorial District till 2023.

 

 

SIGNED

Busola Kukoyi

SSA Media to the First Lady of the Federal Republic of Nigeria

22nd July,2024

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