₦airaland Forum

Price of foodstuffs in the market is unbearable

It will soon hit 2k and by the beginning of March, it will hit 2,500 per dollar 💵. Nigeria is a importing nation. Na Nigeria and its people will suffer the consequences of Tinubu harsh economy policies

Tinubu disciples are everywhere in all the media spaces. Dem no dey hungry at all

Too much hunger in the land. The hunger is unbearable

Nawaoooo. 17 trillion naira keeee

Nigeria lost N17 trillion to tax waivers in five years – Senate Committee
The Senate committee urged the federal government to consider a rebate system as an alternative to tax waiver.

ByAbdulqudus Ogundapo February 19, 2024 Reading Time: 3 mins read
The Senate Committee on Finance has declared that the country lost about N17 trillion to tax waivers in the last five years.

The Chairperson of the Committee, Sani Musa, disclosed this on Monday during an interactive session with the management team of the Federal Inland Revenue Service (FIRS).

The administration of former President Muhammadu Buhari granted tax waivers to some corporate organisations.

During the budget defence last December, the Senate Committee on Appropriations asked the federal government to stop the tax waiver because it is reducing the revenue of the country.

At an interactive session on Monday, Mr Musa, the senator representing Niger East on the platform of the All Progressives Congress (APC), urged the federal government to consider a rebate system as an alternative to tax waiver.

“Available records show that within the last five years, about N17 trillion has been lost by the country to tax waivers. It should be suspended and possibly substituted with a rebating system,” the committee chairperson said.

The senator urged the FIRS management to increase its revenue projection for the year and consider a total stop to the waiver of tax to selected corporate organisations.

“Your (FIRS) projection of N19 trillion as total tax collection for 2024 is good when compared to N11.16 trillion achieved in 2023, but the Senate believes that you can do more even to the tune of 30 trillion if required measures are put in place.

“As impressive and encouraging the performance and projections of FIRS are under your leadership, this committee and by extension, the Senate, on a serious note, urge you to look at the direction of tax waivers largely being abused with attendant and avoidable losses being incurred on yearly basis”.

Responding, the chairperson of the FIRS, Zach Adedeji, assured that his team would collaborate with the committee set up by President Bola Tinubu to review the tax reforms and fiscal policy.

“President Bola Tinubu has seen the issue of multiple taxation as a pool of problems that is why he set up the presidential committee on tax reforms and fiscal policy. The mandate he gave to the committee was that they should work on only one digit tax.

“As of today in Nigeria, we have 62 types of taxes being collected. The sad news about that is that less than eight out of the entire 62, accounted for 97 per cent of the collection.

“So, the others are just constituting problems. However, because we run a federation and we have laws, anything that has to do with motor parks and road taxes among others, are under the purview of the state”
Why food prices are increasing
The FIRS Chair identified an increase in tax payments by transporters of food items as major a reason for the high cost of food across the country.

“We are already consulting and engaging the state government on it. We have also demonstrated to them that we want to move all those taxes, especially the ones that led to increased food prices, to the centre.

“There is a report that when food items are moved from the North, before it gets to the South, they pay more than 40 types of taxes.

“That is part of the reason food prices are increasing in Nigeria.”

Mr Adedeji said many of the taxes paid by the transporters of food items are illegal.

He assured that his team will work effectively with the tax reforms committee of the federal government.

“The most unfortunate thing about this is that most of those taxes are not well coordinated and were not being accounted for.

“It is just creating problems for us so we are working through the joint tax board to make sure that we harmonise and let the states see that such tax is giving us problems.

“We are also awaiting the report of the Committee set up by the President to actually harmonise all the taxes.

“At the end of the day, we won’t have more than eight or nine taxes that the state and federal government would be collecting.”




https://www.youtube.com/watch?v=7nFxGY54Zmo?si=L5xGimK20Q_r0Sie


https://www.premiumtimesng.com/news/top-news/669855-nigeria-lost-n17-trillion-to-tax-waivers-in-five-years-senate-committee.html#:~:text=The%20Senate%20Committee%20on%20Finance,Inland%20Revenue%20Service%20(FIRS).

It will soon hit 2k per dollar soon

Good one from Governor Sim Fubara. You are never a coward

GEEBITE:
He was born 1966 and would have been 58 later this year.

yes

Herbert Wigwe sharing Success tips with the secondary school students in Lagos State

Pictures of Herbert Wigwe laying the foundation of his University in Osiokpo in Rivers State . Ex governor Wike was pictured here laying the foundation of the University in Rivers State

Condolence message from
access bank plc

obrian888:
54

some said he’s 57 plus. He’s still young for me

Ashirioluwa:
They were both young. Herbert was born on August 15, 1966 and died at the age of 57.

hmm 🤔. Nawaoooo, may his gentle soul and his wife and his son and his lawyer rest in perfect Peace

Way4orward:
Herbert is 58

ok . He has the young face

Rip 🪦 . Meanwhile, in Nigeria AFCON match, Nigerian teacher receives a guard of honor from his students in 🇿🇦 after Super Eagles defeated SA

https://www.youtube.com/watch?v=D8i1tyxGdS4

finallybusy:
His wife was young.

Hebert too was young. I don’t think he reach 50 years of age?

Rip 🪦 to the banking guru

Hmm 🤔

Akeredolu’s Death’ll Boost My Chances Of Becoming Ondo Gov -Jimoh Ibrahim

The senator representing Ondo South, Jimoh Ibrahim, on Thursday, said the death of a former governor of the state, Rotimi Akeredolu, will enhance his chances of becoming the next governor.

Ibrahim who declared that he is ready to contest the forthcoming governorship election in the state also expressed optimism that there would be no imposition of a candidate from the national leadership of the All Progressives Congress and the Presidency.

He made this known in Akure, the state capital, noting that President Bola Tinubu would allow a free and fair primary to enable the best candidate to emerge.

He said, “I’m declaring my intention to run for the governorship election of Ondo State. Among the contestants, I am the oldest. I have contested election twice in my lifetime, one of which I contested for the governorship position in 2003, and none of these contestants was on that ballot.

“The President will never say that we should go and work for the incumbent governor. He can only appeal that maybe he prefers one person if you can prefer him and if you cannot, go and do your election. So the President cannot say that I have taken this person so all of you should go and sit down. Even Buhari who is very clueless about anything can never do that.”

The APC governorship aspirant also noted that the death of former Governor Rotimi Akeredolu would not affect his chances but would rather increase the chance of winning the primary and the main election.

“Maybe the death of Aketi has enhanced my chances because Aketi is a human being, he can be subjectively objective at the last minute. But now that he is no more, that possibility is written off completely. So whoever is there, wants to run for governor will meet me at the field.

“So Aketi’s death doesn’t affect my chances at all, but it would rather enhance my chances to win the governorship position of this state. So we are working seriously to win this election,” Ibrahim stressed.





https://www.osundefender.com/akeredolus-deathll-boost-my-chances-of-becoming-ondo-gov-jimoh-ibrahim/

Congratulations 🎉. No be ojoro be this niiii

ImmaculateJOE:
Yes, very likely to hit 10k between now and 12 months time..

This is the product of APC government since 2015.

yes soo. Very unfortunate seriously

Melagros:
I don't know what what he does for a living

na propagandist now. He’s a vlogger on YouTube

ImmaculateJOE:
This 7k na from a registered dealer of Dangote cement.
Retailers will be selling 7300 to 7500

haaaa Na Wahala be this oooo. Soon a bag of cement will hit #10k per bag

ImmaculateJOE:
Selling 7k + here in Yola , Adamawa state

7k keee. Dangote better no joke about the price of cement ooo

jmoore:
How far for the depot price of 3,500 naira?

Bag of cement is sold at 6,500 naira.

how much is BUA cement too. I heard it’s only dangote and Lafarge cements that’s high in price

Bigkoko:
Table shaker ko, shaker table ni....

it’s part of his life, that’s what he’s doing for living.