News

Vehicle importers wants FG to lift restrictions on land borders

Published

6 months ago

May 15, 2024

Naijablitznews

Vehicle importers wants FG to lift restrictions on land borders

By Francesca Hangeior

The Association of Motor Dealers of Nigeria (AMDON) has appealed to the Federal Government to lift the restriction on imported vehicles through land borders.

The chairman of the group in Sokoto State, Alhaji Manaur Zagi, who made this appeal during a workshop organised by the Nigerian Customs Service, Sokoto/Zamfara area command to sensitise members on the ongoing 90-day window period to regularise import duties on specific categories of vehicles.

The chairman emphasised that the closure has caused untold hardship and loss of means of livelihood to hundreds of people working in the vehicle importation chain thereby contributing to the insecurity in the Northwest.

“The restrictions have caused a lot of damage to the economy by causing untold hardship to many Nigerians, hundreds of people working in the vehicle importation chain have lost their means of livelihood which is one of the major causes of insecurity especially in Northwest.

“The lift on the restriction we believe will bring ease of doing business and encourage compliance thereby discouraging smuggling”

Speaking, Comptroller of the Command, Kamal Mohammad, explained the momentous role the association play in the importation and sales of vehicles in the country.

He said the choice of AMDON members as participants in the work is in consideration of the critical role they play in the vehicle business.

The Controller further stated that the 90-day window period which commenced on the 4th of March 2024 to the 5th of July 2024, is the service effort under the leadership of Comptroller General of Customs, Bashir Adewale Adeniyi to enhance compliance.

“Let me commend your association for your roles in the importation and sales of vehicles in the country.

“The 90-day window period given to Nigerians to regularise vehicles without duty which commenced on the 4th of March 2024 will lapse on 5th July 2024.

“We want you to make use of the windows which is part of the efforts of the service under the leadership of Comptroller General, Bashir Adewale, aimed at enhancing compliance ”

Comptroller Kamal further submitted that the restriction of vehicle importation through land borders is a government fiscal policy, but promised to escalate the request of the AMDON, on lifting of restriction on land borders to the Headquarters.

The participants were sensitised on the two categories of vehicles covered by the window period which include vehicles imported into Nigeria where the requisite Customs Duty has not been fulfilled or vehicles detained due to undervaluation excluding vehicles seized and condemned.

Participants and other Nigerians intending to regularize import duties on their vehicles are expected to apply through a Customs licensed Agent to any of the Zonal Coordinators (A, B, C, D) with the necessary papers.

News

USAID Provides $22 Million to Support Resilience and Food Security in Madagascar

Published

1 minute ago

November 18, 2024

Austin Ojomah

The United States, through the United States Agency for International Development (USAID), is providing more than $22 million in additional assistance to build resilience and improve food security for Madagascar’s most vulnerable people.

The funding, representing the first year of two new five-year resilience and food security projects, will help our partners reach up to 88,000 extremely poor and marginalized households in the Androy, Anosy, and Atsimo Atsinanana regions of Madagascar. This assistance, which will be implemented by consortiums led by USAID partners Catholic Relief Services and Cultivating New Frontiers in Agriculture, will support marginalized households to build sustainable livelihoods, develop financial capital, and increase their savings and assets. It will also support households to access existing health, nutrition, and water, sanitation, and hygiene services, and bolster households’ capacity to withstand future shocks and stresses.

This support builds on USAID’s long standing emergency programming in Madagascar to respond to recurrent disasters like drought and cyclones, as well as efforts to strengthen emergency response and increase resilience in the face of these disasters. The United States has provided nearly $103 million for humanitarian assistance in Madagascar in Fiscal Year 2024 and remains committed to supporting the people of Madagascar.

News

Shipping firm offer US citizens four- year trip to avoid Trump’s 2nd term

Published

6 minutes ago

November 18, 2024

Austin Ojomah

A Florida-based cruise company, Villa Vie Residences, is offering Americans an unconventional way to “escape” from Donald Trump’s second term as United States President.

The Independent reported on Monday that the company has unveiled its Tour La Vie programme, allowing passengers to embark on a global adventure spanning four years, visiting over 140 countries without stepping foot in the US.

The Villa Vie Odyssey offers several package options, including a one-year “Escape from Reality” cruise, a two-year “Mid-Term Selection” voyage, a three-year “Everywhere but Home” option, and the four-year “Skip Forward” trip.

The founder and CEO of Villa Vie Residences, Mikael Petterson, explained that the program was not politically motivated but aimed at providing an escape for those feeling unsettled.

“We came up with this marketing campaign before we even knew who would win. Regardless of who would have won, you would have half of the population upset,” Petterson told Newsweek.

He added, “Quite frankly, we don’t have a political view one way or the other. We just wanted to give people who feel threatened to have a way to get out.”

Sky News quoted the founder as saying, “If you’re looking for an escape… there is no better place than on a ship, right, where you can wake up every day to a new backyard and get everything you need taken care of.”

Passengers will enjoy amenities including food, drinks, WiFi, medical visits, weekly housekeeping, and bi-weekly laundry services.

Prices start at just under $40,000 per year, with a full four-year journey costing up to $320,000 for a double-occupancy cabin. Alcohol is included at dinner, though other drinks incur extra charges.

Sky News reports that the ship, which accommodates up to 600 residents, is already sailing and allows guests to join at various ports.

It was also reported that recently, the Villa Vie Odyssey faced a four-month delay in Belfast due to necessary repairs.

News

Nigeria Struggles With 6% Tax GDP Ratio – Speaker Abbas

Published

1 hour ago

November 18, 2024

Gloria Ikibah

…say Reps has not take any definitive position on tax reform bills

….as presidency say bills not designed against any region

By Gloria Ikibah

The Speaker of the House of Representatives, Rep. Abbas Tajudeen, has expressed concerns over Nigeria’s tax-to-GDP ratio, which currently stands at a mere 6 per cent.

The Speaker noted that this figure was significantly below the global average and the World Bank’s recommended minimum benchmark of 15 per cent necessary for sustainable development, despite Nigeria being Africa’s largest economy.

Abbas stated this at an interactive session on Tax Reform Bills at the National Assembly Complex on Monday in Abuja.

He stated, “Nigeria, despite being Africa’s largest economy, struggles with a tax-to-GDP ratio of just 6 per cent, far below the global average and the World Bank’s minimum benchmark of 15 per cent for sustainable development. This is a challenge we must address if we are to reduce our reliance on debt financing, ensure fiscal stability, and secure our future as a nation.”

The Speaker highlighted the importance of the proposed tax reforms in diversifying Nigeria’s revenue base, ensuring equity, and fostering an environment conducive to investment and innovation.

“The proposed tax reform bills aim to diversify our revenue base, promote equity, and foster an enabling environment for investment and innovation. However, as representatives of the people, we must approach these reforms thoughtfully, understanding their potential implications for every segment of society.

Taxes should be fair, transparent, and justifiable, balancing the need for public revenue with the burdens they impose on individuals and businesses”, Abbas added.

Acknowledging public concerns and debates surrounding the bills, Speaker Abbas emphasized the need for thorough deliberation and clarification of contentious issues.

“The controversies surrounding these bills, whether in the media, civil society, or among governance stakeholders, are a reflection of their importance.

Such debates are healthy and necessary in a democracy, and this session aims to channel those discussions into productive outcomes. It is critical that we listen to diverse perspectives, ask probing questions, and seek clarity on any unclear provisions,” he stated.

He reassured Nigerians that the House has not yet adopted a position on the bills and is committed to ensuring that the final legislation serves the best interests of the nation. “The House has not yet taken a definitive position on these bills. Our role is to scrutinise them thoroughly, ensuring they align with the best interests of our constituents and the nation at large. We owe this duty to Nigerians,” he said.

The Speaker also stressed the importance of balancing national interests with the needs of citizens, reiterating that “Taxes should be fair, transparent, and justifiable, balancing the need for public revenue with the burdens they impose on individuals and businesses.”

Rep. Abbas underscored the significance of pre-legislative scrutiny as a vital parliamentary practice to resolve ambiguities and ensure alignment with constitutional provisions, and described the interactive session as an opportunity for lawmakers to engage with experts and stakeholders to better understand the potential implications of the proposed reforms.

Addressing the session, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, clarified that the proposed tax reform bills were not designed to undermine or marginalize any region.

Iyedele emphasized that the reforms aim to enhance efficiency and boost revenue allocation to states based on consumption patterns.

He explained, “Currently, under Section 40 of the VAT Act, VAT revenue is allocated 15 per cent to the Federal Government, 50 per cent to the States and FCT, and 35 per cent to Local Governments. There is no negative thinking about any region or anything.”

Oyedele outlined key aspects of the reforms, which include amendments to income tax laws to support remote work opportunities, particularly in the global business process outsourcing sector.

Other provisions include tax exemptions for small businesses with an annual turnover of N50 million or less, alongside initiatives aimed at boosting exports and promoting the digital economy to create more opportunities for Nigerian youths.