News

Reps Committee Theatens To Arrest Management Of Dangote Cement

Published

5 months ago

July 10, 2024

By Gloria Ikibah

The House of Representatives Joint Committee on the Arbitrary Increase in the Price of Cement has threatened to arrest the management of Dangote Cement if it fails to appear at its next hearing.

Naijablitznews.com reports that the management of Dangote Cement has refused to honour the Committee’s invitation to address the problem of cement increase in the country.

The officials claim that there’s a suit restraining Dangote from appearing before the committee, instead they sent the Head od National Assembly Desk Dangote to represent them.

But the chairman of the Joint Committee, Rep. Jonathan Gbefwi said: “We have written four letters, 3 to Dangote and Dangote has vehemently refused to honour the invitation of the House claiming that there is a substantiative suit against another committee, not this committee Challenging their right to appear before the parliament which is their parliament. We did not stop here, we equally sought legal counsel from the national assembly and other independent legal bodies who have expressly said that the position here by Dangote and other members of cement association is foul of the law.

“We ask, was there a substantiative court order restraining the House from inviting you? No! None of such an order was produced to the House. Are you saying that the House that created you because you are a creation of the corporate affairs commission which is the law created by the House and further more the elected representatives that was voted by you cannot equally invite you.

“You say the case is before the court. Which case? The case against the joint committee or is it a case against a separate committee, where there is no ruling that you should not appear before the national assembly. Considering the fact that this country was built on separation of powers where you have the executive, legislative and judiciary”.

The special panel while advocating for the downward review of cement prices, expressed worry over the increase in cement prices and the untold hardships it has brought upon many Nigerians.

“Dangote you have in one stroke implicated yourself because it is not for you to choose what you will come for or what you will not come for. This is the House of the people, you are obligated, it is not by choice when you are invited by this House you are obligated and it is mandatory that you cause appearance.

“It is unfortunate and I find it rather insensitive on the part of Dangote that in my opinion has been forenutured by the Nigerian people. I am very aware of tax incentives, tax breaks, tax holiday you enjoy even.under the pioneer status, oil pioneer status is supposed to on product, you enjoy pioneer status on line on project not product as against the intent of pioneer status.

“You have enjoyed Nigeria but at such a time when Nigerians are groaning under such hardship, you show a high level of insensitivity and you are sending this kind of document. What do we want to achieve by this, let Nigerians hear the true position. When you are in a debate and the debate is open, Nigerians are watching, but you have chosen fir whatever reasons or whatever intent to want to avoid coming to the House.

“The Federal competition and consumer protection commission invitation you are talking about was held after we had invited you after we invited consumer protection here, and we queried them that in our opinion they have slept on their responsibility. That’s when they woke up and invited you, and you thought it wise to attend their own invitation, attend the invitation of Public Accounts attend invitation from oil industries but you will not attend to a critical matter that goes to the nerves and the pain of the average Nigerian”, the committee chairman asserted.

The committee directed the Cement Manufacturers Association of Nigeria and the Central Bank of Nigeria to cause appearances before the committee in the next two weeks, to deliberate on measures necessary to address the situation for the benefits of the people.

“They want to over profit without any sense of empathy for the citizens that have given it this platform. I think it calls for a rethink of the position of the government.

“On Dangote my ruling is simple. The laws have given us the necessary powers but we owe you a duty of care. We are going to give you one more chance. We are going to communicate a date.

“Failure to comply with that date, a subpoena will be issued, a warrant of arrest will be given for you to cause appearance before the National Assembly, no single individual is bigger than the parliament of his country. No single Nigerian is bigger than the National Assembly,” Jonathan said.

News

Nigeria Needs Comprehensive Reforms To Expand Its Tax Base – Speaker Abbas

Published

11 minutes ago

December 18, 2024

Gloria Ikibah

…say we’re consulting stakeholders to address concerns of 4 tax bill

…assure NASS will ensure equity, protection of vulnerable Nigerians

By Gloria Ikibah

Speaker of the House of Representatives Rep. Tajudeen Abbas has said that Nigeria needs “comprehensive tax reforms to broaden the nation’s tax base.

Speaker Abbas stated this while delivering the votes of thanks during the presentation of the 2025 budget to a joint session of the National Assembly by President Tinubu, said that the leadership of the House has commenced a series of engagements with the relevant stakeholders to address the concerns raised on the four tax reform bills transmitted to the National Assembly by President Bola Ahmed Tinubu.

He reiterated the commitment of the House, and indeed the National Assembly to ensure equity and the protection of vulnerable Nigerians.

He said, “Nigeria’s low tax revenue also remains a major constraint. Our tax-to-GDP ratio, currently at approximately 10.9 per cent for 2024, is among the lowest in Africa, significantly below the continental average of 15.6 per cent. In comparison, South Africa’s tax-to-GDP ratio stands at 25.4 per cent, while Rwanda and Ghana, with much smaller populations, report ratios of 15.1 per cent and 14.1 per cent, respectively.

“Even our VAT collection efficiency – at approximately 20 per cent – is notably below the near 70 per cent efficiency achieved by South Africa, Equatorial Guinea, and Zambia.”

“Addressing these challenges requires urgent and comprehensive tax reforms to broaden our tax base, improve compliance, streamline administration and reduce reliance on borrowing.”

Speaker Abbas, therefore, stated the preparedness of the National Assembly to work with the President Tinubu-led administration towards achieving the required reforms.

“The National Assembly will continue to work with your administration to ensure that such reforms are equitable, effective, and considerate of the needs of vulnerable populations.

“To this end, we have engaged stakeholders to address concerns raised on the tax reform bills, fostering trust and cooperation. I have personally led numerous high-level meetings and consultations with state governors and other key stakeholders on this issue, achieving positive outcomes”, he added

According to Speaker Abbas, the reforms by the Tinubu administration have “disrupted the status quo, sparking resistance from vested interests.”

He added: “Yet, these courageous measures underscore your resolve to prioritise the welfare of Nigerians.”

“The National Assembly stands ready to support these reforms through legislative backing and to facilitate public engagement for greater understanding and acceptance.”

He stated that collaboration between the three arms of the government remains essential to achieving the shared objectives.

News

TALL Forcast: 2025 Budget will bring down inflation to 15%, dollar to N1,500-Tinubu

Published

3 hours ago

December 18, 2024

Naijablitznews

President Bola Tinubu has said that the 2025 budget forecasts that inflation will decline from current 34.6% to 15% next year.

He said this during his presentation of the N47.9 trillion 2025 budget proposal to a joint session of the National Assembly on Wednesday.

The President also said that the exchange rate will improve from approximately N1,700 per dollar to N1,500.

According to Tinubu, “this is an ambitious but necessary budget to secure our future.”

“The Budget projects inflation will decline from the current rate of 34.6 per cent to 15 per cent next year, while the exchange rate will improve from approximately 1,700 naira per US dollar to 1,500 naira, and a base crude oil production assumption of 2.06 million barrels per day,”Tinubu said.

He said the budget projections are based upon observations such as reduction of petroleum products importation, increased export of finished petroleum products, bumper harvest driven by enhanced security, reducing reliance on food imports, among others.

Tinubu listed highlights of the budget to include defence and security – N4.91tn, infrastructure – N4.06tn, health – N2.4tn, education – N3.5tn, among others.

Nigerians are grappling with economic hardship following incessant increase in inflation and volatile exchange rate that has seen dollar exchange as high as N1,700 in recent days.

On Monday, the National Bureau of Statistics (NBS) said Nigeria’s headline inflation rate rose to 34.60% in November 2024 from 33.88% in October 2024.

The November inflation rate showed an increase of 0.72% points compared to the October 2024 inflation rate, according to NBS’s latest Consumer Price Index (CPI) report which measures the rate of change in prices of goods and services.

“On a year-on-year basis, the Headline inflation rate was 6.40% points higher than the rate recorded in November 2023 (28.20%). This shows that the Headline inflation rate (year-on-year basis) increased in November 2024 compared to the same month in the preceding year (i.e., November 2023),” the Bureau said.

Significantly, food inflation rate in November 2024 was 39.93% on a year-on-year basis, 7.08% points higher than the rate recorded in November 2023 (32.84%).

News

Finally, PDP Flushes Out Suspended National Vice Chairman, Ali Odefa

Published

3 hours ago

December 18, 2024

Naijablitznews

The Peoples Democratic Party (PDP) Oguduokwor Ward in Onicha Local Government Area of Ebonyi State has formally announced the expulsion of the suspended National Vice Chairman (NVC) of the party in the Southeast, Mr. Ali Odefa from the party.

Ali Odefa was suspended from the party on September 11, 2024 by the Ward Executives of the party for his engagement in various anti party activities. The Federal High Court sitting in Abakaliki while ruling on suit NO: FHC/AI/CS/182/2024 further affirmed the suspension on November 29, 2024.

Announcing the expulsion of Mr. Odefa at a well- attended press conference on Wednesday, the Acting Chairman of the PDP Oguduokwor, Hon. Onyedikachi Herbert Ovuta flanked by other Ward Executives stated that the expulsion of the erstwhile NVC follows the recommendation of the Party’s disciplinary committee that affirmed the allegations of anti-party activities leveled.

According to the party chairman, “The expulsion of Chief Ali Odefa follows the report, findings and recommendations of the Ward Disciplinary Committee of the party which is in line with the provisions of the party constitution.”

The party announced that Mr. Ali Odefa by the virtue of his suspension, therefore “ceases to be a member of the party.”

The party’s statement reads in part:

“The Peoples Democratic Party (PDP), Oguduokowor Ward, Onicha Local Government Area of Ebonyi State hereby announce the expulsion of Chief Ali Odefa, the suspended National Vice Chairman of the PDP, South East Zone from the party which takes immediate effect.

“The expulsion of Chief Ali Odefa follows the report, findings and recommendations of the Ward Disciplinary Committee of the party which is in line with the provisions of the party constitution.

“Recall that Chief Ali Odefa was suspended from the party by the Ward leadership on 11th September 2024.

“Consequent upon the judgement of the Federal High Court Abakaliki in suit number FHC/AI/CS/182/2024 which affirmed the suspension of Chief Ali Odefa, the Disciplinary Committee of PDP Oguduokwor Ward after their sittings on the above subject matter unanimously recommended that Chief Ali Odefa the Suspended PDP National Vice Chairman South East Zone be expelled from the party.

“The Executive Committee of PDP Oguduokwor Ward on 11th December 2024 after receiving the report, findings and recommendations of the Disciplinary Committee of PDP Oguduokwor Ward unanimously approved the expulsion of Chief Ali Odefa from the party which is compliance to section 58(1) and section 59(1) of the PDP constitution.

“Henceforth Chief Ali Odefa, seizes to be a member of our party the Peoples Democratic Party (PDP)