By Paul Effiong, Abuja
House of Representatives has directed the Minister of the Federal Capital Territory, FCT, Nyesom Wike to immediately appoint a substantive Auditor-General, AG, for the 6 Area Councils.
This were part of a resolution reached on Friday at the resumed hearing of the Public Accounts Committee, PAC.
In their two separate submissions, the Acting Auditor-General for the Area Councils, Abdullahi Ibn Salihu as well as the Chairman of PAC, Honourable Bamidele Salam, realized that the matter deserve immediate attention leading to motion which was unanimously moved.
“Honourable colleagues, I think we should also step into this. Like I said, when we resumed in October 2023, the Office of the Auditor-General for the Federation in Nigeria was vacant for about 2 years. The former President, President Muhammadu Buhari refused to make an appointment. And so, audit reports were not submitted. So, when we came in, myself and counterpart in the Senate decided to write letters to the President and make some advocacy upon which a substantive auditor-general was appointed.
Earlier, while fielding questions from the committee on area councils financial report, Abdullahi informed that most of the infractions noted were committed in the earlier administrations since he is barely 6-months in the office in an acting capacity.
Other urgent matter that were identified as infractions include non-submission of audited financial reports from 2023-2024; non-remittance of pension deductions to the Pension Commission, PENCOM, and non-submission of the available audited reports to the committee.
In his contributions Hon. Billy Osawaru, urged the committee to deploy the full weight of the law on the office of the Auditor General for all the infractions they have committed insisting that such things must not be allowed to continue.
Consequently, a 5-member sub-committee chaired by Hon. Tochukwu Okere was put in place to thoroughly investigate the matters and make recommendations. Other members of the sub-committee include: Hon. Ajiya Abdulrahman, Hon. Mandara Usman, Hon. Mauruff Adebayo and Hon. Mohammed Bargaja.
Tax Reform Bills: No Provision For Inheritance, Says Presidential C’ttee
By Paul Effiong, Abuja
Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, disclosed this on Friday that the inheritance tax would not be reintroduced in the new tax bills currently before the National Assembly.
According to the Presidential Committee, the section of the law that is being interpreted as introducing inheritance tax is section 4 subsection 3, of the Nigerian tax bill.
The Presidential Committee Chairman, Oyodele was reacting to some stakeholders ubmissions that inheritance tax had been reintroduced during a hearing on the four tax reform bills organised by the House of Representatives Committee on Finance.
According to the Committee,: “Some of the section of the law that is being interpreted as introducing inheritance tax is section 4 subsection 3, of the Nigerian tax bill.This section is talking about family income.
“If as an individual, you own a property and you rent it out, you pay tax on your rent. But a family can also own a house and rent it out. Should they not pay tax? If we say they should not pay tax, I guarantee you, all the houses in Nigeria will turn to family houses, and nobody will pay the tax.
He , thereafter explained: “As we speak today, this provision is in the Personal Income Tax Act, Section 2, subsection 5.
“If you have family income, you can tell us it belongs to the father or the son. The father or the son will pay the tax. But if you earn family income and you cannot attribute it to any member of the family, then you would impose tax on that family.
“In fact, there’s a tax on villages. There’s a tax on communities. You can have a community town hall, and you’re renting it out. You need to pay tax. So this provision is not new. Also, it is not in any way introducing inheritance tax.
“Otherwise, this law was already in place when in 1979, the military introduced inheritance tax. If this was sufficient, they would not have introduced another law to impose inheritance tax.
“And in 1996, that capital transfer tax that imposed inheritance tax was repealed. And we have not in any way, directly or indirectly, attempted to bring it back. And by the way, this is the income of the state, not the federal government. Why would we want to do that?”
On his reactions, the Chairman of the Federal Inland Revenue Service,FIRS, Zach Adedeji, criticized a situation were investors produce in free zones which have a different tax system, from and try to get their products into Custom areas maintaining that no responsible government will open its eyes and allow some people that have not read the law or they have read it halfway to now say they want to have litigation, they want to go out of the country. What is their total investment that they want to use to destroy those people
Also reacting to allegations by some stakeholders in the free zones that 70 of investors have withdrawn their cash due to unfavorable policies, Oyedele said this was false.
He said, “There is what we call cash in circulation. That’s the currency you have in your pockets and in your wallet. In Nigeria, it’s about four trillion naira. It’s meant to be outside the banking system. That’s what they used to pay for molue or to buy pure water.
On his submission, the President of the Manufacturers Association of Nigeria,MAN, Francis Meshioye commend the government for the courage to introduce the bills, but expressed concern about the lack of incentive for members who manufacture for export.
He also kick against the idea of allowing 100 sail into the Export Free zones, saying there is no country in the world except Nigeria that allow such sail, adding that Ghana only allow 30 percent sail.
Again, Speaker Emphasises Need For Technical, Vocational Skills In Nigeria
By Paul Effiong, Abuja
Speaker of the House of Representatives, Hon Tajudeen Abbas has emphasized the need to develop the nation’s technical and vocational education to impact positively on national development by equipment the youths with practical skills.
The Speaker who spoke at a public hearing organised by the House Committee on Polytechnics and Higher Technical Education also informed the need to amend existing laws or introduce new ones to improve Nigeria’s technical and vocational education.
The Speaker who was represented by the Chairman of the House Committee on Students Loan, Hon Ifeoluwa Ehindero said as part of efforts to promote social sector reform and development, the House of Representatives recognised the need to address the multi-faceted challenges across the various segments of the education sector, one of which is technical education.
He said ‘We believe that reforming and modernizing technical education is crucial for developing skills that are necessary for propelling Nigeria’s economic growth and development.
“To achieve this, we made a commitment to amend existing laws or introduce new ones to improve Nigeria’s technical and vocational education.
“In recent years, there has been an increasing recognition of the critical role that technical and vocational education plays in national development.
“It is no longer sufficient for our educational institutions to merely impart theoretical knowledge; we must also equip our youths with practical skills that will enable them to thrive in a fast-evolving global economy that is characterised by stiff competition.
“Therefore, the establishment of these institutions is a crucial step in our resolve to bridge the gap between knowledge and employment”.
According to Abbas, the proposed Federal Polytechnic, Adikpo, Benue State is expected to provide essential training opportunities for aspiring entrepreneurs in science, technical education and management science, adding that it is envisaged that this Polytechnic will focus on equipping individuals with management, technical and entrepreneurial skills, necessary for fostering innovation, and economic growth and development.
he also said, the proposed National College of Entrepreneurship and Skills Acquisition, Illela, Sokoto State will address specific needs of those seeking entrepreneurial knowledge and skills tailored to meet local business needs.
He said “as a border community, establishing this institution in Illela will not only boost commercial activities and international trade, it will also take our youth out of poverty, unemployment and cross-border crimes such as banditry, trafficking, smuggling and drug abuse, ensuring their creative energy is channeled to productive ventures.
“Overall, by aligning educational programs with regional economic activities, we can empower communities through skill acquisition and development while also addressing unemployment challenges. Let me therefore assure you that the House will continue to support every effort that seeks to improve the quality and access to all forms of education in Nigeria.
“Given the crucial nature of these bills, I urge every stakeholder here to make very useful contributions that will enable the House to make informed decisions on them. Your insights are invaluable as we strive towards creating an inclusive educational framework that reflects our diverse needs and aspirations. You should feel free to share your perspectives, by making contributions that will help us refine these bills for further legislative action.”
Chairman of the House Committee on Polytechnics and Higher Technical Education, Fuad Lagunda said the two bills strongly align with the quest by the House for a strategic educational progress and sustainable human capital development in Nigeria.
He said the primary objectives of establishing the Federal Polytechnic in Adikpo, Benue State and College of Entrepreneurship and Skill Acquisition in Illela Sokoto State is to teach
and train technicians and middle-level Nigerians who will serve as catalysts for rapid industrialization and development of the real economic sector.
He said “given the uncertainties in global economy, you will collectively agree with me that knowledge and skill in social sciences, technology, entrepreneurship, vocational, and technical education are the panacea to socio-economic development.
“It is therefore important for us to prioritise and recognise the importance of establishing these academic and training institutions for specific purposes of driving economic growth, improving the standard of our youths, creating platform for skill acquisition, empowering human capital as well as addressing general societal challenges.
“The passage of these Bills into Law would adequately ensure that our youths are technologically empowered to strategically address the complex challenges of
unemployment, wealth or income inequality, and chronic poverty in our society.
“Based on potential benefits of these institutions, | urge us all to work collaboratively as patriots towards a successful deliberation by approaching this public hearing with an open and teachable mind, willingness to learn, and commitment to finding sustainable solutions to our educational challenges.
“More importantly, let us work together towards ensuring a productive educational sector for the overall benefits of our dear citizens and the nation at large.”