News

FG, firms sign agreement to supply, install 1.4m smart meters

Published

2 months ago

August 31, 2024

Admin

The federal government, through the Bureau of Public Enterprises (BPE) and electricity distribution companies (DisCos), has signed an agreement with firms to supply and install 1,437,500 smart meters across Nigeria.

These firms include Ningbo Sanxing Medical and Electric Company Limited, Ningbo Sanxing Smart Electric Company Limited and Messrs XJ Group Corporation.

According to a statement on Friday by the Transmission Company of Nigeria (TCN), the signing ceremony took place at the BPE headquarters in Abuja.

“The project is part of the Distribution Sector Recovery Programme (DISREP), funded by the World Bank’s $500 million facility through the Investment Project Finance (IPF) arrangement,” TCN said.

Sule Abdulaziz, chief executive officer (CEO) of TCN, represented by Ajiboye Oluwagbenga, executive director of transmission service provider, described the project as a significant step in bridging the 7.1 million meter gap in Nigeria.

Also, on August 27, Adebayo Adelabu, minister of power, said the federal government and the states have raised N100 billion for the procurement of prepaid electricity meters.

Adelabu added that the World Bank decided to support Nigeria with the procurement of almost two million meters in the next two years through the distribution sector recovery programme.

News

Just in; FG to remove VAT on essential commodities

Published

5 mins ago

October 23, 2024

Kayode Sanni-Arewa

The Federal Government has introduced a new bill aimed at exempting various essential products and services from Value Added Tax (VAT).

This part of the government’s initiative to alleviate the financial burden on Nigerians.

The proposed legislation, titled “A Bill for an Act to Repeal Certain Acts on Taxation and Consolidate the Legal Frameworks relating to Taxation and Enact the Nigeria Tax Act to Provide for Taxation of Income, Transactions and Instruments, and Related Matters,” was dated October 4, 2024.

Included in the VAT exemption list are baby products and locally manufactured sanitary towels, pads, and tampons, making these items more accessible to the public.

The bill specified that the exemption will also cover military hardware, arms, ammunition, and uniforms supplied to the armed forces and security agencies.

Additionally, shared passenger road transport services will be exempt from VAT to help reduce transportation costs. In the agricultural sector, VAT relief will apply to the purchase, hire, or lease of equipment like tractors and ploughs used for agricultural purposes.

However, agricultural individuals must first pay the VAT and later request a refund from tax authorities.

The bill also addressed diplomatic and educational activities, exempting goods and services supplied to diplomatic missions and non-profit educational performances from VAT.

Other exempted items include government licenses, land or buildings, and financial instruments, with supplies consumed in export processing or free trade zones also excluded from VAT for approved activities.

It is important to note that VAT will only be levied on these exempted items if the Minister publishes an order in the Official Gazette specifying a date for the tax’s reimposition.

This provision allows the government to adjust these exemptions as necessary in the future.

The items proposed for exemption from Value Added Tax (VAT) in the Federal Government’s new bill include:

1. Baby products

2. Locally manufactured sanitary towels

3. Pads

4. Tampons

5. Military hardware

6. Arms

7. Ammunition

8. Locally manufactured uniforms supplied to armed forces and paramilitary agencies

9. Shared passenger road transport services

10. Equipment for agricultural purposes (e.g., tractors, ploughs)

11. Goods or services supplied to diplomatic missions and diplomats (for non-profit activities)

12. Plays and performances conducted by educational institutions

13. Government licenses

14. Land or buildings

15. Financial instruments (money or securities, including interests in these instruments)

16. Supplies consumed within export processing or free trade zones for approved activities.

News

Reps Pass For Second Reading Bill To Create New Oyo State

Published

6 hours ago

October 22, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has passed for second reading “A bill seeking the alteration of the 1999 Constitution to create a New Oyo State” on Thursday at plenary.

The bill which is sponsored by Rep. Akeem Adeyemi, lawmaker representing Oyo Federal Constituency of Oyo State,

will have Oyo town as the capital city.

Leading the debate on the general principles of the bill, Rep. Adeyemi said the agitation for the creation of New Oyo State is not entirely new.

He said: “The 2014 national conference held in Abuja recommended in its final report for the creation of New Oyo State with Oyo town as its capital.”

“It’s noteworthy that the present Oyo State deserves to be split into two being the largest state in terms of landmass in the South-West geo-political zone with 33 local governments and a population of 5,580,894 people (2006 census). The New Oyo State when created, has all the factors to be economically and politically viable and sustainable.”

He highlighted the expansive agricultural and water potentials, mineral resources including gold, kaolin and limestone as well as tourism as some of the endowments that would give the proposed State a head start when created.

“The call to make the capital of the proposed New Oyo State is justified considering the physical administrative and government facilities currently situated in Oyo town. Oyo metropolis is the repository and the citadel of the linguistic and cultural heritage of Yoruba land, the seat of the old Oyo Kingdom which encompassed the original provincial set-up of the colonial master from which Ibadan, Province was carved out in 1936.

“The Erelu Dam in Oyo metropolis supplies water to the four Local Government Areas in Oyo zones as the second largest water reservoir in the present Oyo state. The Government Reservation Area in the Oyo metropolis is one of the first and the largest GRAs to be established in the country and could serve as a temporary Government House for the proposed New Oyo State.

“There are 14 functional branches of Ministries, Parastatals and Agencies of present Oyo State Government in Oyo metropolis which could be effectively used as take-off officers for the proposed new Oyo State. Oyo town is the only provincial headquarters in the federation today that has not become a State Capital, hence the call for balancing of this national equation.

“In terms of security, the Nigeria Police Area Command in metropolitan Oyo which covers 14 of the 19 Local Governments in the proposed New Oyo State can serve effectively as the Police Headquarters of the State Command in the proposed State”, he added.

The lawmaker emphasised that the Federal Medium Security Prison was currently situated in Oyo town.

This piece of legislation is expected to be subjected to a public hearing ahead of third reading and concurrence by the Senate.

News

Constitution Review: Reps to Engage NGF, NGE, LG Chairmen, CSOs, Others

Published

6 hours ago

October 22, 2024

Gloria Ikibah

…as Kalu announces membership of sub-committees

By Gloria Ikibah

The House of Representatives has it will engage the Nigerian Governors Forum, Nigeria Guild of Editors, Conference of Speakers of State Legislature, Chairmen of the 18 Political Parties, Civil Society Organisations, amongst others, as part of its activities for the ongoing constitutional review.

The Deputy Speaker and Chairman of the Committee on Constitution Review, Rep. Benjamin Kalu who disclosed this during the committee’s meeting in Abuja, said the House will be holding an international legislative dialogue on women on October 28 and zonal public hearings in January.

Kalu stated that the committee is on track to deliver to Nigerians, a new Constitution by December, 2025, even as he noted that the essence of the engagements was to get the input of various stakeholders and brief them on what the committee is doing.

He said that the Committee in carrying out most of its assignments, will be broken down into subcommittees, which will not be exhaustive as additional members will be included later on to ensure that everyone is carried along.

He said: “The Sub-committees members according to thematic areas include: Local Government Matters, Rt Hon. Julius Ihonvbere, Hon. Onwuzibe Ginger Obinna, Hon. Aliyu Wakili Boya , Hon. Jimbo Inemesiti Clement, Hon. Ibrahim Tukura Kabir, Hon. Abeji Leke Joseph, Hon. Olawuyi Olatunji Raheem, Hon. Ahmed Idris.

“Judiciary, Rt. Hon. Bello Kumo ii. Hon. Ogene Victor Afamefuna ii. Hon. Manu Zoro Mansur iv. Hon. Agbedi Fredrick Vv. Hon. Benson Babajimi Adegoke vi. Hon. Gbewfi Gaza Jonathan, Hon. Mamudu Abdulahi vili. Hon. Sada Soli.

“Electoral Matters: Rt. Hon. Ali Abdulahi Ibrahim ii. Hon. Tarkighir Dickson iii. Hon. Aliyu Muhktar Betara iv. Hon. Ofionu Goodwin Odey Ekpo v. Hon. Osoba Olumide Babatunde vi. Hon. Adegboyega Adefarati vil. Hon. Oke Olubusayo Oluwole vill. Hon. Abiodun James Faleke.”

“Security Architecture, Hon. Isa Ali JC li. Hon. Pondi Julius G. ii. Hon. Chinedu Nweke Ogah, Hon. Akpatason Peter, Hon. Olayide Adedeji Stanley, Hon. Ajang Alfred Iliya,cHon. Bob Solomon, Hon. Igariwey Iduma Enwo.

“Gender Issues – Rt. Hon. Onanuga Adewunmi Oriyomi li. Hon. Rotimi Akintunde Oluwaseun li. Hon. Mohammed Audu iv. Hon. Fatima Talba Vv. Hon. Zainab Gimba vi. Hon. Princess Miriam Odina vii. Hon. Akume Regina viii. Hon. Ogbara Adetola Kafilat.

“Devolution of Powers & Other Special Matters: “Rt. Hon. Chinda Kingsley Ogundu ii. | Rt. Hon Madaki Aliyu Sanni iii. Hon. Obed Paul Shehu, Hon. Amadi Akarachi Etinose, Hon. Fulata Abubakar Hassan vi. Hon. Kabir Amadu vii. Hon. Mohammed Danjuma Hassan viii. Hon. Francis Waive.

“Members of the Committee on Human Rights include: Rt. Hon. Ozodinobi George Ibezimako, Hon. Magaji Amos Gwamina, Hon. Yusuf Rabiu, Hon. Mohammed Abubakar Ahmed v. Hon. Sunday Cyriacus Omehia, Hon. Ajiya Abdulrahaman and Hon. Dasuki Abdlsamad.”

The Deputy Speaker, thereafter assured that clear actionable recommendations from the women summit holding next week will be taken forward in the constitutional alteration exercise.

He added that the summit will help in building of political will and eliciting of commitments from political leaders and stakeholders.