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N120bn IGR: Kaduna inaugurates committee to meet target
The Kaduna State Internal Revenue Service (KADIRS), on Monday, inaugurated a joint revenue committee inorder to realise the N120 billion revenue target set by Gov. Uba Sani.
The joint committee comprises chairmen of the 23 local government councils and representatives of various ministries, departments, agencies in the state.
The committee is headed by the Executive Chairman of the KADIRS with the Board Secretary/Legal advisor of the Service serving as joint secretaries.
Inaugurating the committee, the Executive Chairman of the KADIRS, Mr Jerry Adams, said the joint revenue committees was in line with the provisions of sections 47 and 48 of the Kaduna State Codification and Consolidation Tax Law of 2020.
He said the law underscored the critical importance of collaboration and coordination in revenue generation efforts in achieving shared objectives.
Adams said that Kaduna state, like many others, faced fiscal pressures and demands for increased investment in critical infrastructure, social services, and economic empowerment initiatives.
He said that meeting the demands required a robust and innovative approach to revenue mobilisation, hinged on collaboration, transparency, and efficiency.
The Executive Chairman therefore said that the inauguration of the joint revenue committee marked a significant milestone in serving efforts to strengthen revenue mobilisation and drive sustainable development in the state.
He stressed that through harnessing the collective expertise, resources, and
commitment of all stakeholders, KADIRS could overcome the current and future challenges and unlock new opportunities for the state’s growth and prosperity.
“The joint committee will work strictly according to the dictates of the law and will
serve as a focal point for strategic planning, policy formulation, and coordination of revenue generation activities across the state.
“They will play a pivotal role in providing guidance and oversight within their respective domains, ensuring that our revenue generation activities are aligned with the specific needs and priorities of each sector.
“Their (members) inclusion reflects our commitment to fostering collaboration and cooperation across all levels of government, as we strive towards our shared goal of advancing the economic prosperity of Kaduna State,” Adams said.
He urged the committee members to live above board and avoid engaging in acts that would be inimical to the realisation of the set objectives.
Adams further appealed to the citizens to be tax compliant in order to reap benefits, while restating the KADIRS committment to tackling tax leakages and punishing officials operating outside the law.
Also, the Legal Adviser and Secretary of KADIRS, Aisha Muhammad, said that the local government joint revenue committee shall attend and present quarterly reports to the state joint revenue committee.
She added that the revenue committee shall be autonomous of the council treasury and shall be responsible for the day-to-day administration of the Local Government Revenue or personnel which form its assessment team in liaison with the Service.
Also speaking the Special Adviser to Gov. Uba Sani on Economic Matters, Malam Ibrahim Muhammad, said the state has the potentials to even generate more than the N120 billion naira revenue target set by the governor.
He regretted that when compared with the first quarter of the previous year, KADIRS was behind in its revenue target.
Muhammad therefore urged the committee members and all other stakeholders to work hard and be committed to the realisation of the set target.
Earlier in his remarks, the state’s Commissioner for Planning and Budget, Mr Mukthar Ahmed, said that huge revenue from the informal sector at the grassroots were largely uncollected
Ahmed urged the KADIRS to be very diligent in carrying out its task, adding “agents and other stakeholders in tax collection are easily compromised”.
News
Application deadline for management of Nigeria’s $10bn Diaspora Fund extended
The Nigerian federal government has shifted the application deadline for companies interested in managing the $10 billion Diaspora Fund.
Minister of the Federal Ministry of Industry, Trade and Investment, Doris Uzoka-Anite, disclosed this in a circular on Thursday in Abuja.
Accordingly, the deadline for May 6 has been shifted to May 13, 2024.
The minister urged prospective applicants to utilise the extra time to complete their submissions, ensuring they are thorough and competitive.
She stressed that the extension is designed to allow stakeholders additional time to adequately prepare their applications following the guidelines established for the fund.
“The Federal Ministry of Industry, Trade, and Investment wishes to inform all interested parties that the deadline for the submission of Expressions of Interest (EOI) for the Nigeria Diaspora Fund has been extended.
“The new submission deadline is May 13, 2024. This extension is intended to accommodate stakeholders who require more time to prepare their applications by the guidelines provided for the $10 billion Nigeria Diaspora Fund,” she stated.
News
Sanwo-Olu, NESG harp on PPP for economic growth
Gov. Babajide Sanwo-Olu of Lagos State has emphasised the role of public-private sector partnerships in driving accelerated sustainable economic growth in Nigeria.
He made the remark at the Nigerian Economic Summit Group (NESG) Public Lecture and Founders’ Forum held at the Lagos Business School on Thursday.
The event, which marked the official launch of the 30th anniversary of the Nigerian Economic Summit (NES) has the theme: “In the National Interest: Reflecting on the Past, Reimagining the Future.”
Sanwo-Olu said it was imperative that the public sector improved on its synergy with various actors pursuing a collective agenda of service for the citizens.
The governor highlighted the significant role the NESG plays in bringing together public and private sector leaders in the country in an ongoing dialogue to shape, influence and create a thriving competitive and successful economy.
“We’re not where we should be and we must continue to set goals to inspire ourselves to do better as a nation
“We may not always achieve our targets for our vision timelines, but that should not be an excuse for not trying,” he said.
He commended the NESG for its various interventions such as the flagship annual summit, roundtable and sectorial policy commissions, technical support work and policy innovation centre.
He, however, urged NESG to explore ways of deepening linkage between policy work and public consciousness that allows engagement with the citizenry.
Delivering the lecture, Mrs Ifueko Omoigui-Okauru, Managing Partner, Compliance Professionals PLC, said that while there had been significant economic changes, more needed to be done to ensure accelerated economic growth.
Omoigui-Okauru said that there was need to build inclusive policies that reflect the realities of the nation rather than imposing replicas of other countries.
“In 30 years, we may have made some progress, but we can’t say we have radically transformed Nigeria.
“As we reflect on the NESG, there’s still a lot to be done in bridging the rural-urban divide and have an inclusive agenda.
“We see our journey as work in progress. We need to determine the parameters that would drive our success and put policies in place to move us in the direction where we need to be.
“It is important for us to move away from self interest, think of ways to use technology and other frameworks to collectively achieve the Nigeria of our dreams,” she said.
Earlier in his opening remarks, Mr Niyi Yusuf, Chairman, NESG, said the 30th Summit reaffirmed the essentiality of public-private partnerships in tackling complex economic realities.
Yusuf, however, said that the journey to embracing market mechanisms has not been without its challenges.
He reiterated unwavering commitment in driving reforms through rigorous research, economic and social programmes, and inclusive summits, all aimed at shaping the socio-economic development of our nation.
“Thirty years ago, at a critical juncture in our nation’s history, the NES was born out of a necessity when the winds of economic challenges blew fiercely, necessitating a platform for robust public-private dialogue.
“Since our inaugural summit in 1993, the NES has been a progressive economic discourse rooted deeply in collaborative efforts between government leaders and private sector visionaries.
“Each Summit has crafted policies and strategies essential for removing barriers to competitiveness, growth, and inclusive development.
“Therefore, in commemorating this 30th anniversary, it is essential to assess and discuss the role of this public-private dialogue platform in Nigeria’s socio-economic landscape to provide us insights for future engagements,” he said.
The chairman assured collaborative efforts with the three arms of federal and subnational governments and private sector communities to propel Nigeria towards a more resilient, inclusive and prosperous future.
Dr Pascal Dozie, Chairman, NESG Advisory Board, listed political, economic, education and environment sectors as pathways to reimagining Nigeria’s future
Dozie, also pioneer Chairman of NESG Board of Directors, was represented by Mr Frank Aigbogun, Chief Executive Officer of BusinessDay.
He charged NESG to adopt new strategies in providing collaborative leadership in seeking answers to the following crucial questions.
“How do we strengthen democratic institutions and rule of law, foster culture of inclusiveness and representation?
“How do we promote transparency and accountability in governance and inculcate the culture of consequences for bad behaviour in every sphere of life?
“In economic reimagining, how do we diversify Nigeria’s economy, reduce dependence on oil, foster a business friendly environment and develop the much needed infrastructure base in a coordinated nationwide approach?
“How do we repurpose the educational system to focus on science, technology, engineering and mathematics, encourage technology entrepreneurship and innovation and address unemployment?
“For the environment, how can we develop sustainable agriculture and food security, promote sustainable practices, renewable energy and eco tourism?
“It is imperative that the NESG community leads from the front in not only providing actionable answers to these questions but also making sacrifices to ensure they are implemented,” he said.
Similarly, Chief Executive Officer of NESG, Dr Tayo Aduloju, said that strong institutions, political will, accountability by all stakeholders and the willingness for the government to allow private sector to drive growth were factors needed for a successful economic development.
“The challenge for us today is how to drive the country forward over the next 30 years in a way that is not just growth but growth that creates jobs and opportunities for everyone and no one is left behind.
“We are dealing with a country that is going through macro-economic volatility and instability.
“So, the lessons here at the forum are deep reflections of what should change in our approach, a stronger priority on execution, a deeper commitment on accountability of government systems to deliver and how economic barometers impact the ordinary man on the street.
“Our resilience to hold government accountable, to keep insisting that there must be an economy that works for all Nigerians, rule of law, an environment in which free enterprise is practiced, is what we must continue to fight for,” he added.
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