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NECA warns tax hike will bring hardship to individuals, businesses

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The Nigeria Employers’ Consultative Association (NECA) advises that any attempt by the Federal Government to increase taxes will lead to negative impact on households, individuals and businesses.

NECA’s  Director-General, Mr Adewale-Smatt Oyerinde, in a statement on Sunday said that such move would only lead to disaster for an economy struggling to stay afloat.

Oyerinde was reacting to a recent recommendation by the International Monetary Fund (IMF) to the government to increase taxes in order to reduce borrowing.

The IMF had recently called on the government to reduce its debt by focusing on increasing the tax basket and compliance as a means of generating revenue to cut borrowing.

The fund in its latest Fiscal Monitor titled, “On the path to Policy Normalisation”, released recently noted that Nigeria’s debt was projected to continue to rise and urged the government to remove fuel subsidies and direct them to health and education

Oyerinde said: “For a private sector already overwhelmed by multiple taxes, the imposition of additional taxes on services will make the business community more vulnerable with a trade off on growth and job creation.

“More taxes, of course, will weaken the purchasing power of individuals and stifle consumption, with attendant consequences for social cohesion.

“It may defeat any attempt to widen the tax net as taxpayers would consider tax avoidance measures.

“There will be massive capital flight, and the drive for direct foreign investment could be defeated.”

The director-general said, however, that government should consider widening its tax net as the association had posited on many occasions and at various forums.

He said also that the association was in support of the IMF’s recommendation to the government to consider widening its fiscal net, saying, it is the way to go.

“In addition, one of the problems government at all levels in Nigeria has is the rising cost of governance.

“If the cost of governance can be addressed decisively, it has the tendency to reduce borrowing since recurrent expenditure will automatically decrease, “ he said.

Oyerinde said that the $800m loan to serve as palliatives in view of the planned removal of subsidy was not necessary.

He urged, rather, that government must give attention to fixing the refineries and making them operational in the coming months before the removal of petrol subsidy.

“Already, experts and the polity at large have frowned against the loan facility and have proposed definitive approaches including fixing the refineries.

“Also, investigate without delay the subsidy regime with the view to exposing the alleged corruption associated with it; this should not be a difficult thing for the government to do, “ Oyerinde said.

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Access Bank advocates innovative financing models to bridge healthcare gap

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The Group Head, Commercial Banking Division, Access Bank Plc, Ralph Opara has said that the private sector is crucial in driving innovative financing models and strategic partnerships to bridge healthcare investment gap in Nigeria.

In a statement on Thursday in Lagos, Opara was quoted to have said this at the 2024 Medic West Africa event, organised by ABCHealth in collaboration with Informa Markets.

The event was a platform for stakeholders across industries to deliberate on the theme; “Healthcare Investments in Africa: Mobilising the Private Sector to Drive Healthcare Investments in Africa.”

It was aimed at charting a path through which corporates could leverage innovative financing models and strategic partnerships in fostering the achievement of the United Nations Sustainable Development Goals.

The discussions also explored strategies for strengthening healthcare infrastructure, leveraging technological advancements, as well as enhancing community health initiatives.

Opara reaffirmed Access Bank’s commitment to fostering positive transformation in healthcare across Africa.

Speaking at the event, he said that, “The government can’t carry the burden of the health sector alone.

“Hence, it is imperative that the private sector explores and implements innovative financing models and strategic partnerships to bridge the healthcare investment gap.”

Opara said collaborative effort between the public and private sectors was crucial and essential to driving innovation, improving healthcare accessibility, and ensuring sustainable development across Africa.

Some notable participants at the event included Mories Atoki, CEO, ABCHealth; Jane Ike-Okoli, Head of Specialised Sectors Business & Commercial Banking, Stanbic IBTC and Odunayo Sanyo, Executive Director, MTN Foundation;

Others were Group Head, Health Finance, Sterling Bank, Ibironke Akinmade, and MD/CEO, Aliko Dangote Foundation, Zouera Youssoufou.

Demonstrating its commitment to partnership, Access Bank has partnered with the Private Sector Health Alliance of Nigeria (PSHAN), to launch the Adopt-A-Health Facility Program (ADHFP).

ADHFP’s primary aim is delivery of at least one global standard Primary Healthcare Centre (PHC) in each of the 774 Local Government Areas (LGAs) in Nigeria.

So far, the initiative has resulted in over 180 PHCs adopted across the country.

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On Finidi George: NFF got it right this time

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By Dr. Salau Dee Elf (NUGA Publicity Liaison Officer, 1993-2001)

The recent appointment of Mr. Finidi George, 58 as the Senior National Team, Super Eagles Coach/Team Manager on the NFF’s X (formerly Twitter) handle is a right decision in this prevailing circumstances.

Finidi popularly called ‘Finito’ has paid his dues in the Nigerian Football circle. A grassroot footballer who was a product of the old Principals’ Cup Football Competition where he was discovered before being drafted to the great Sharks Football Club of PortHarcourt and other Clubs in Nigeria before he eventually left to ply his trade in Europe.

Earlier, Adokie Amesimaka (Justice) was a product of Grassroot Sport. He also played in the Principals’ Cup before going ahead to compete in the Nigerian University Games Association (NUGA) Games where he was discovered and invited to the Nigeria’s National Football Team.

Players in this category from the Grassroot School Sports were able to combine their God-given talents with their education which made it very easy for them to understand and interpret what their Coaches want them to do. But we have abandoned this to the other less productive fire brigade approaches of discovering talents

Finidi joined the National Team as an elite player and his understanding of the round leather game was enormous. As a National Team player who played 66 times for Nigeria, his team spirit demonstrated by his combination with other players on and off the pitch was tremendous.

Finidi’s wing runs which normally produces beautiful pullouts or crosses for other team players to score indicated his good combination spirit. This spirit he demonstrated throughout and after his Football career.

As Assistance Coach of the immediate past Coach of the Super Eagles, Joe Passero, he demonstrated this and carried everyone along. He was loved by both the players and the Coaching Staff which testified to his final selection for this position

As for his technical knowledge, he was among the top Coaches in the Nigerian League before he was drafted to the National Team as an Assistant Coach. His team Eyimba Football Club is among the teams gunning for the league title in the Nigerian Professional League. His 18 months stint as the Assistant Coach of the Chief Coach Passero has offered enough experience to enable him perform. His two friendly matches as Acting Chief Coach of the National Team has been encouraging.

The Nigeria Football Federation board has gotten it right having considered not only technical capabilities of the Coach but his managerial prowess too. In today’s sports albeit Football, managerial capabilities is a big plus to add to technical input for success.

It is now left for Finidi George to rise up to the occasion and prove that the NFF was right in his decision to stick to him where there were so many Foreign Coaches who sought for the same post. He has to combine his technical experience with the managerial experience he has garnered from his playing days in the National Team.

This is the time to prove that local Nigerian Coaches can manage the National Team successfully as is done in other climes. For success, NFF, Players, Coaching stakeholders, and Nigerians support for our much loved Finito must be total. It’s the time of the home based Coaches, let’s support and give them this opportunity.

Dr. Salau Dee Elf writes from Lagos

[email protected]

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Dufil Prima foods donates relief materials to indigent families in Abeokuta

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Dufil Prima Foods, makers of Indomie instant noodles, in partnership with the Human Rights and Grassroots Development Society, extended its goodwill to the shores of Abeokuta, Ogun state, at a product distribution event on Tuesday 24 April, where cartons of Indomie noodles were distributed to the underprivileged, as part of its ongoing efforts to support families worst hit by the ongoing economic hardship.

The event which saw a thousand vulnerable families go home with a carton of Indomie each, individuals present were also provided with cooked noodles to help relieve their immediate hunger. The outreach had in attendance members of the disabled community, orphans, widows, the elderly, pregnant women, and vulnerable families.

The outreach is in alignment with the brand’s goal to feed two million consumers across various cities and communities in Nigeria, by collaborating closely with recognized NGOs to ensure that only the most vulnerable persons in the various cities and communities are invited and given a carton of Indomie and a fresh bowl of the nourishing tasty noodles.

The event was graced with the presence of notable dignitaries including the representative of the Commissioner for Women Affairs and Social Development in Ogun State, Mrs. Wonuola Kassim; the Ogun State Chapter Chairman of the Nigeria Labour Congress, Comrade Hammeed-Bello Aderinola; a representative of the Sector Commander of the Federal Road Safety Corps (FRSC), Superintendent Adeoye Adejoke Asake; the Chairman of the Ogun State Police Community Relations Committee (PCRC), Venerable (Dr.) Samson Kunle Popoola, Chairman of the Peace Initiative Network, Dr. Femi Sodipo , and Trace PRO, CDR. Babatunde Akinbiyi, amongst others.

Mrs. Wonuola Kassim in her keynote address, commended the efforts of Dufil Prima Foods Ltd, and acknowledged that this was not the company’s first CSR initiative as she recalled that it had embarked on a similar venture in 2020.

“This program cannot be more timely than a time like this, when feeding becomes very difficult for most people. This is the kind of gesture which would linger for ages in the hearts of the beneficiaries. The objective of the palliative distribution is to alleviate the hardship faced by the citizens due to the recent removal of fuel subsidy by the Federal Government,” she said.

Speaking in the same vein, Popoola of the PCRC said, “We believe in PCRC that food security and eradication of hunger will go a long way in reducing the level of criminality in our society. What we have seen today is a conscious effort on the part of the organisers to see to the eradication of poverty, eradication of hunger and to support the food security initiative of the Government.”

Other dignitaries present also expressed their gratitude for Indomie and the organisers of the event, the Human Rights and Grassroots Development Society. They commended their efforts for taking the right steps to ensure that families across the country are catered for in these challenging times.

Indomie Instant Noodles remains steadfast in its quest to provide satisfaction and put smiles on the faces of families across Nigeria.

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