The NAFDAC Head of Investigation and Enforcement, Federal Taskforce, Embugushiki-Musa Godiya, also said the agency would work to ensure that fake cosmetics and other counterfeit products were completely wiped out of the country.
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Subsidy Removal: FG records over N1tn monthly revenue inflow – Minister
The Minister of Finance, Mr Wale Edun says that the Federation Account is witnessing improved revenue inflow since the removal of subsidy from average of N650 million monthly to over N1 trillion in the last four months.
The minister stated this on Monday in Asaba at the opening ceremony of a four-day retreat organised for members of the Federation Account Allocation Committee (FAAC) .
The minister, represented by the Permanent Secretary, Finance, Special Duties, Mr Okokon Udo said the government had for long, realised that petroleum subsidy was not sustainable.
According to him, subsidy regime eroded revenues that should had been available to fund viable expenditures that were critical to the well-being of the populace.
The minister said the present administration was mindful of the needs and welfare of Nigerians and assured that it would continue to implement peoples oriented policies..
“’We all know that achieving tax revenue to Gross Domestic Product (GDP) target of 22 per cent and tax to GDP of 18 per cent by 2026 are parts of the cardinal objectives of this administration.
”However, in doing that we appreciate the needs not to overburden the tax payers by introducing so many new taxes.
”What is necessary to be done is to broaden the tax base, simplify and streamline tax administration for ease of collection,” he said.
Edun added “Among the prior activities of this government after coming into office, was the constitution of a Presidential Committee of Fiscal Policy and Tax Reforns.
“The committee has submitted an interim report which is full of optimism’’.
The minister also noted that the present administration was not oblivious of the untold hardship faced by Nigerians, following the removal of fuel subsidy, and harmonisation of exchange rates.
He reassured that all the sacrifices made by people would never be in vain.
”Government is bent on ensuring that the economy bounces back to normal as we continue to consolidate on recovery efforts with focusing on achieving inclusive economic growth and development,” he added.
Edun said that President Bola Tinubu-led administration has so far put in place a well-structured palliative measures to cushion the economic consequences of the ongoing reforms.
On the theme of theme of the Retreat, ”Creating a Resilient Economic through Diversification of the Nation’s Revenue”, the minister commended the choice, stressing that it was suitabl.
Edun also noted that retreat clearly outlined the urgent need to diversify the nation’s economy.
In an opening remark, Gov. Sheriff Oborevwori of Delta tasked the federal government to muster the political will by putting necessary policy and institutional framework in place to diversify the nation’s economy.
The governor, represented by his Deputy, Sir Monday Onyeme said that there was no magic wand to diversify the nation’s economy from over dependence on revenue from crude oil unless concerted efforts were made in other key sectors.
He noted that the diversification of the nation’s economy must go beyond mere rhetoric to concrete measurable steps by facilitating the non-oil exports such as agricultural products, manufactured goods and services as well as the expansion of the revenue base.
Oborevwori affirmed that Delta was taking the lead to diversify its economy by creating a Trade and Export unit to drive the process in order to make economic diversification a reality.
He noted that some schools of thought believed that the discovery of crude oil which led to the neglect of agriculture and other revenue yielding non-oil sectors of the economy was a curse.
Oborevwori said the country had not properly managed its oil wealth adding that it was worrisome that the oil sector contributed between five per cent and seven per cent of the nation’s GDP.
He added that the non-oil sector mostly agriculture, agribusiness, manufacturing and small scale enterprises contributed 93 per cent to 95 per cent, yet the bulk of public revenue was from the oil and gas sector.
”Statistics have made it more exigent for the government to grow the non-oil sector to widen the revenue base, nwhile ensuring that maximum benefits were derived from the e oil industry,” he said.
The governor commended FAAC committee for its commitment to duty by enhancing revenue accruals into the federation account.
He urged the committee to look into the payment of 13 per cent derivation to oil producing states.
Oborevwori challenged the committee to use the retreat to address the concerns raised by stakeholders in respect of the new roles of the Nigeria National Petroleum Company Limited, among others by giving better understanding on their roles in the economic diversification of the country.
The Accountant Generals from the thirty six states and the FCT as well as other stakeholders such as the Customs are attending the retreat.
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Invoke executive order for state, LG police, Afenifere tells Tinubu
The pan-Yoruba socio-cultural and political organisation, Afenifere, on Saturday, urged President Bola Tinubu to invoke an Executive Order for the establishment of state and local government Police.
Afenifere, in a statement by its National Publicity Secretary, Jare Ajayi,in Ibadan, the Oyo State capital, also called for the erection of close-circuit television sets and deployment of modern technology for security purposes in strategic locations to end insecurity.
Ajayi said, “There are indications that Tinubu is desirous of putting an end to this deleterious menace. Towards the end of January this year, he approved the procurement of digital tracking tools to enhance the apprehension of bandits, terrorists and armed robbers.
“On Monday, April 22, this year, he used the occasion of addressing participants at the African Counter-Terrorism Summit which opened on that day in Abuja to assure everyone of his government’s readiness to ensure greater security. Unfortunately, recent happenings have not shown that the President’s desire in this respect is being worked upon.
“President Tinubu should get state and local government police off the ground immediately through the invocation of an Executive Order while the process of amending the Constitution continues.
“Close circuit television sets, deployment of modern technology for security purposes including drones must be effected immediately.”
He explained that the statement was motivated by the recent reports of banditry and kidnapping in Ogun, Edo, Ekiti, Oyo, Kogi, Zamfara and Niger States, respectively which made a research organization declare Nigeria as one of the top nations where kidnap ranks highest globally.
Ajayi noted that Fulani herders and farmers’ clashes kept occurring in Osun, Ondo and Oyo State; Otu, Igbeti and Alaga in the Oke-Ogun area of Oyo State were the latest victims.
The Afenifere spokesperson also said, “In order to end insecurity, enhance people’s welfare and ensure the sustenance of Nigeria as one of the top investment destinations in Africa as desired by the government, there is the urgent need by the Federal Government and security agencies to be more innovative and decisive.”
He lamented that banditry, including armed robbery, kidnapping was still occurring on South-West roads such as Lagos-Ibadan, Ibadan-Ijebu-Ode; Akure-Ilesa-Ibadan; Ore-Ijebu Ode-Lagos, Ikirun-Osogbo-Ilesa; Lokoja-Abuja, Owo-Benin and Ibadan-Iseyin-Saki.
“Latest reports have it that on Monday, May 13 instant, eight cocoa farmers were kidnapped at Marindoti Cocoa Farmers’ settlement in Ovia South-West Local Government Area of Edo State. Three students of Millicent Secondary School in the same area on their way to write their Senior Secondary School Examination, were also kidnapped at the same time.
“A sum of N31 million was reportedly paid to ransom three people who were kidnapped at Longe village on Ibadan-Ijebu-Ode Road last week Sunday. On Thursday, May 16, one Seliat Adeniji (nee Raji) was kidnapped in her Ebedi home in Iseyin, Oyo State. Her guard was killed in the process.
“Hon Bello Hassan representing Zurmi/Shinkafi Federal Constituency in the House of Representatives last Tuesday claimed that terrorists have sacked about 50 communities and abducted over 500 people in his area of Zamfara State as bandits overran Zurmi, the second most populous town in the state killing palace officers as well as policemen.”
To put a serious check on all these, the Afenifere spokesman said that there was an urgent need to dig deep into the roots of the menace and to be decisive in applying the necessary measures.
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NAFDAC shuts cosmetic shops in Lagos, seizes counterfeit products
The National Agency for Food and Drug Administration and Control has shut three shops and raided others during a clampdown on the sale of unregistered “Dr. Teal’s” brand of cosmetics in Lagos State.
The agency disclosed this in a post on its X handle on Saturday, stating that the action came after a complaint from the trademark holder.
The statement read, “NAFDAC has shut down three cosmetics shops and raided others, targeting the sale of unregistered ‘Dr. Teal’s’ brand cosmetics. This action follows a complaint from the trademark holder regarding potential counterfeit products.
“Two suspected shops along Excellent Line at the Trade Fair Complex were targeted, resulting in sealed shops and invitation letters issued to attendants.”
It added that another development unfolded at Okas Global Link Limited where NAFDAC confiscated over 200 cartons of various Dr. Teal’s products and other unregistered cosmetics, suspecting them to be the source of distribution.
A shop identified as Cubana Stores at Phil Hallmark Plaza was also reported to have been sealed for stocking and selling the moisturising body and bath products of the alleged unregistered Dr. Teal’s brand.
NAFDAC added that according to its regulations, shop owners found guilty of selling unregistered products face penalties of up to ₦5m fine.
It said shop owners were also being questioned as part of ongoing investigations.
In the statement, the agency emphasised the health risks associated with fake cosmetics, stating the potential dangers of using products containing harmful substances.
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Traders, soldiers clash at Banex Plaza in Abuja
The Federal Capital Territory Police Command has deployed intelligence officers to Banex – an electronics and telecommunications gadgets market, in Abuja following a conflict that ensued between soldiers and some traders on Saturday.
A viral video seen by our correspondent on X on Saturday showed a multitude of civilians overpowering some soldiers during a free-for-all fight at Banex.
The Defence Headquarters, and the spokesperson for the Nigerian Army, Onyema Nwachukwu could not be reached for comments as of press time.
Meanwhile, a trader who simply identified himself as Abdul, told our correspondent on Saturday that the conflict ensued over the sale of a mobile phone.
“There’s a problem at Banex now. Some soldiers came to complain about a phone, and during an argument with the traders, a fight ensued,” Abdul simply revealed.
When contacted over the development, the spokesperson for the FCT Police Command, SP Josephine Adeh said the Commissioner of Police, Benett Igweh has deployed officers of the FCT Intelligence Response Team to the scene of the incident.
“The CP has deployed the Intelligence Response Team to the scene,” Adeh confirmed.
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