News
FG Accepts New VAT Sharing Formula Proposed By Governors
The Federal Government through the Presidential Tax Committee says it has no objection to the new “equitable” sharing formula for Value Added Tax (VAT) as proposed by the state governors.
This position was made known by the chairman of the presidential committee, Taiwo Oyedele, on Saturday.
Speaking as a guest on The Platform, an event organized by The Covenant Nation, Oyedele said arriving at a conclusion regarding such reforms anywhere in the world, needs to factor in technical inputs as well as political considerations.
Recall that state governors had earlier rejected the VAT-sharing formula of 20 percent based on equality, 60 percent based on derivation, and 20 percent based on population as proposed by the Oyedele-committee.
However, after a meeting with the committee, the governors, under the auspices of the Nigeria Governors’ Forum (NGF), announced a new proposed revised formula of 50 percent based on equality, 30 percent on derivation, and 20 percent based on population.
Speaking on the development, Oyedele told the audience on Saturday that the proposal has been accepted.
“You also need to consider other things, including political considerations, and so once the governors proposed their formula for sharing the VAT revenue.
“We have no objections to that, because, at the end of the day, if you need to move one kilometre, you don’t have to move all of that at once; you can’t even jump one kilometre at once.
“Maybe sometimes you need to just move gradually. You know, you take a breather. You reflect, have more data, and then you move again,” he said.
The chairman of the presidential committee also gave assurances that the VAT-sharing formula will benefit all sectors of the economy.
He urged those still against the proposal to get familiar with the details as recommended by the committee.
“All sectors will be positively impacted, particularly agriculture and manufacturing, as well as industries generally.
“We also have a provision in those tax bills where we call them priority sectors. And there’s a priority sector incentive, you know, power generation, innovation.
“So I’ll say, even if you’re not going to look at everything in that bill, go and find that section where we have those sectors.
“It’s a pointer to you about where the government wants to redirect the incentive regime,” Oyedele added.
News
Port Harcourt refinery: NNPCL disowns recruitment notice
The Nigerian National Petroleum Company Limited (NNPCL) has disclaimed a purported recruitment announcement for the Port Harcourt Refining Company (PHRC), warning the public against falling victim to fraudulent schemes.
In a statement released on its official X handle (formerly Twitter) on Friday evening, the oil company clarified that no separate recruitment process was ongoing for PHRC beyond the one initiated in 2024.
The statement, titled “NNPC Ltd Disclaims Purported Recruitment Announcement for PHRC,” was signed by the Chief Corporate Communications Officer, Olufemi Soneye.
“The Nigerian National Petroleum Company Limited (NNPC Ltd) has urged members of the public to discountenance purported recruitment announcement for the Port Harcourt Refining Company (PHRC) circulating in certain online platforms,” the statement read.
NNPC Ltd further explained that its recruitment process, which commenced last year, covered all its subsidiaries, including PHRC. The company noted that candidates who passed the Computer-Based Aptitude Test were proceeding to the interview stage.
“The purported recruitment link being circulated in various online platforms is the handiwork of fraudsters who are keen on taking advantage of the newly revamped Port Harcourt Refinery to fleece unsuspecting members of the public with a phantom recruitment announcement. We, therefore, call on members of the public to be wary of the ploy and not fall for it,” the statement warned.
News
Hajj 2023 refund: Pilgrims from Adamawa get N61,080 each
The Adamawa State Muslims Pilgrims Welfare Commission has disbursed N61,080 to each of the 2023 pilgrims from the state over poor services rendered to them by the service providers while in Saudi Arabia.
The executive secretary of the pilgrims commission, Malam Abubakar Salihu, disbursed the refunded money, saying it was a step of accountability.
The disbursement was paid into the account of the pilgrims or, for those without account numbers, through the local government schedule officers of the 21 local governments of the state.
Responding on behalf of the beneficiaries, Alhaji Shuaibu Musa Mele appreciated the commission for ensuring that each pilgrim gets his rightful refund.
The Kingdom of Saudi Arabia had earlier refunded money through the National Hajj Commission of Nigeria, for sharing among the 36 states of the country.
News
Security operatives destroy Bello Turji’s food storage facility
A school building in Fakai village, reportedly used as a food storage facility by the notorious bandit leader Bello Turji, has been destroyed.
The facility, which had been stocked with large quantities of food supplies, was completely razed, leaving the structure in ruins.
According to local sources, the school was repurposed by the bandits to support their operations in the region.
It served as a key logistical hub for storing essential supplies, ensuring the group’s ability to sustain its activities over time.
The destruction of the stockpile is seen as a major setback for Bello Turji’s network. By eliminating a critical resource hub, the operation is expected to disrupt the group’s supply chain and hinder their ability to operate effectively in the area.
Counter-terrorism expert Zagazola Makama reported that the incident underscores ongoing efforts to counter the influence and operations of bandit groups in the region.
Residents of Fakai village and surrounding areas hope this effort signals further strides toward restoring peace and security.
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