News
Oyedele Makes a U-Turn, Says FG Not Recruiting ‘Area Boys’ to Collect Taxes
Taiwo Oyedele, chairman, Presidential Committee on Fiscal Policy and Tax Reforms, has said the Federal Government is not recruiting ‘area boys’ to collect taxes.
Recall that on January 17, Oyedele exclusively told Channels Television that the government could train area boys for tax collection and pay decent salaries to forsake their old ways.
Following the public outcry that trailed the statement, Oyedele took to his X handle on Saturday, to say his comment was taken out of context.
He argued that a person cannot be recruited to do the job they are already doing, whether they are legally engaged or otherwise.
You cannot recruit a person to do the job they are already doing, whether they are legally engaged or otherwise.
We have over 40 taxes and levies which States and Local Governments are authorised by law to…
— Taiwo Oyedele (@taiwoyedele) January 27, 2024
“We have over 40 taxes and levies which States and Local Governments are authorised by law to collect across Nigeria including road taxes on trucks, buses and bicycles, wheelbarrow, kiosks and shops levies,” he said.
“In many cases, area boys are engaged to collect these taxes which they often do through crude, unorthodox means and harassment.
“Painfully, these taxes yield very little revenue to the government despite the huge burden they place on small businesses, artisans and transporters.”
Oyedele said the issue he raised in the interview was not about employing more tax collectors but about finding common ground with those already involved, who have an unofficial stake in the system.
“We propose to eliminate many of these taxes and harmonise a few of them that may be appropriate and devise a civil means of collection using mobile phones,” he said.
Oyedele said the issue he addressed was sensationalised and taken out of context.
According to the tax expert, he was talking about how to “get the buy-in of those who currently collect these taxes (and benefit from doing so beyond whatever they are being paid officially)”.
“I did not mention any word like recruit or employ. My thought on it beyond the legal aspect was to consider the social dimension and find a practical solution that has a high chance of success,” he said.
“The idea is that the government could train the collectors to behave in a civilised manner and pay them decently so that it is comparable to what they currently make.
“Their new role will be to drive and monitor compliance. The payers will pay less and be treated with dignity. Government will earn more, and society will benefit – a win-win outcome for everyone.”
In October 2023, the presidential committee led by Oyedele presented a quick win report which contained 20 recommendations.
President Bola Tinubu, upon receiving the document, directed an immediate implementation of the recommendations.
News
RCCG Turns Former Barclays Banks’s Branch Building into Church
A former Barclays branch building in Middleton is set to be transformed into a church, two years after the bank shut its doors.
The Redeemed Christian Church of God (RCCG)has received council approval to establish their newest place of worship at the site, adding to the growing number of the faith’s churches in the Greater Manchester area
Despite receiving 51 letters of objection from locals concerned about potential traffic impact and overdevelopment, Rochdale Council’s highways officers are confident there would be no increase in traffic as a result of the development.
Planning officers also noted that the application is only for a change of use, meaning the building’s appearance would remain the same.
No major internal or external changes are planned.
As the building would effectively look the same and the application was for a change of use, this work would not be deemed ‘inappropriate’ or ‘overdevelopment’.
The Redeemed Christian Church of God, a form of Christianity founded in Nigeria in 1952, has a presence in 197 countries and territories worldwide, with millions of members in Nigeria alone.
News
Shell Approves FID On $5Bn Bonga North Deepwater Project
Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has officially announced a Final Investment Decision (FID) on the Bonga North deepwater project, marking a significant milestone in Nigeria’s energy sector.
The $5 billion Bonga North project, located offshore in Oil Mining Lease (OML) 118, is set to sustain and enhance production at the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility, where Shell holds a 55% operational interest.
In a statement released on Monday, Shell confirmed that the project has an estimated recoverable resource of more than 300 million barrels of oil equivalent (boe) and is projected to achieve a peak production of 110,000 barrels of oil per day..
“This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director.
The Bonga North project encompasses the drilling, completion, and commissioning of 16 wells—8 production wells and 8 water injection wells.
It also involves modifications to the existing Bonga Main FPSO and the installation of advanced subsea infrastructure, which will be tied back to the FPSO.
Bonga North represents a key component of Shell’s strategy to bolster its Integrated Gas and Upstream business, which continues to drive cash generation well into the next decade
This project follows a wave of international investment in Nigeria’s deepwater oil industry, underscoring the country’s significance in the global energy landscape.
Shell’s decision reaffirms its long-term commitment to maintaining its leadership in energy production while contributing to Nigeria’s economic growth.
The FID announcement aligns with Nigeria’s ongoing efforts to attract foreign direct investment in its oil and gas sector, fueled by strategic reforms and an improved regulatory environment under the current administration.
News
FEC Approves 161.3m Euros for Phase 1 Siemens Power Project
Federal Executive Council (FEC), meeting presided over by President Bola Tinubu on Monday approved the sum of 161,328,228 euros for the execution of contracts in the first batch of the Phase 1 of the Siemens Power projects across the country.
Tinubu after extensive deliberations at the FEC also approved N1.7 billion for the acquisition of an office complex for the National Electricity Liability Management Company (NEMCO), in Abuja.
Briefing newsmen after the meeting, Adebayo Adelabu, minister for Power, said: “At the Federal Executive Council meeting held this afternoon, there were basically two approvals for the Federal Ministry of Power, as I presented. The first was actually an approval for the award of contract for engineering, procurement, construction and financing for the implementation of the 331 32 KV And 132 33 KV substations upgrade under the Phase One of the Presidential Initiative, popularly known as the Siemens project, consequent upon completion of the pilot phase of this project.
“The Federal Executive Council at today’s meeting considered it necessary for us to move forward as promised by the President of the Federal Republic of Nigeria at a meeting he held with the President of the Republic of Germany last week.
“The cost of this first batch of the phase one of the Siemens project was 161,328,228 euros. And the Phase One of this Siemens projects, as it relates to the transmission, upgrade and expansion, actually includes 14 brownfield substations that need upgrade and revamping, and 21 greenfield substations, which are new substations to be built across the country to improve the transmission segment.
“The first batch of this Phase One of the projects include: Onitsha 331 3233 KV substation, under the Enugu Electricity Distribution Company; Offa 132 33 KV substation under the Ibadan Electric Distribution Company, there is the new Abeokuta 331 3233 KV substation. We have Ayede 331 3233 KV substation. And lastly, Sokoto 132 33 KV substations.”
Adelabu also explained that the five sub-stations are to be worked upon and under the first batch of this Phase One of the Siemens project.
According to him: “We expect that this will further improve and stabilise the transmission segment of the power sector value chain in no distant future on completion.
“Another approval that was given at the FEC this afternoon actually relates to the award of contract for the acquisition of an office complex for the Nigeria Electricity Liability Management Company, which you all know as a NEMCO, and the office complex approved for outright purchase is at Plot No. 2148, Cadastral Zone, Wuse 1 District, Abuja, for NEMCO, and the cost of this acquisition is 1.7 billion naira inclusive of 7.5% VAT.
“We all know that NEMCO is the product of the Electricity Power Sector Reform Act of 2005 with a very specialised role to play in ensuring the success of the electricity sector reform. And the company currently resides in this particular facility, but it is expedient that the property be acquired to avoid the escalating rent which is being increased regularly due to inflation.
“So this offer of outright purchase was opted for, and this will also enable the company to meet up with its expanded mandate and increase in staff strength.”
- Telecom2 days ago
OAU Confers Honorary Doctorate on MTN Nigeria CEO Karl Toriola
- Telecom2 days ago
Galaxy Backbone’s Fibre Optic Network Now Live in Lagos, Ibadan and Ilorin
- E-Business2 days ago
Hisense Electronics Unveils Flagship Showroom in Abuja
- News2 days ago
eTranzact MD Emphasises Power of Collaboration in Digital Payment
- E-Financial2 days ago
CBN Cracks Down on Banks with N150 Million Fine for Mint Naira Note Hawking
- Telecom2 days ago
Data Sovereignty Key to Nigeria’s Digital Future – NITDA
- News2 days ago
Dr. Jane Kimemia, Optiva CEO, Honoured with U.S. President’s Lifetime Achievement Award
- Broadcasting2 days ago
NAFDAC Dismisses False Claims of Approving ‘Lung-Cleansing Tea’