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Senate panel asks customs to raise revenue target beyond N5tr in 2024

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Senator Isah Jibrin

The Nigeria Customs Service (NCS) has to brace up, find ways of increasing its N5.079 trillion revenue target for 2024, the senate has cautioned.

Chairman, Senate Committee on Customs, Isah Jibrin, gave the advice at a meeting with the agency’s Comptroller General, Adewale Adeniyi, and top management team in Abuja.

He said: “First of all, Nigeria is burdened with a lot of debt obligations and we need to wriggle ourselves out of that trap, and one of the ways to do that is internally generated revenue. 
“Customs is one of the major providers of internally generated revenue, and as it is today, we expect them to play one of the major roles in this drive to reduce our debt burden.

“We need to pay off what we are owing now and minimise additional loans we are going to take. Customs is in a very good position; if they can block all perceived leakages, they should be able to generate a significant amount of income that will enable Nigeria to get out of debts, at least partially.

On concessions given to some sectors of the economy, the Kogi East senator clarified that the incentives were for those into agriculture, solid minerals and others whose services have direct impact on the economy.

He continued: “If somebody is bringing agricultural equipment into the economy and you try to take something out of that person in a way of import duty, that will discourage the person and that is what we are saying.  It is not that anybody took that money or Customs compromised in the course of their services.

“Concessions are in the interest of Nigeria to encourage importers to boost the economy.  There is a trade off here between importers and the country, particularly the things you think you are generating.”

On the unemployment rate in Nigeria, which he described as “very high,” Jibrin observed: “Customs is not the only employer of labour.  They can only employ the number they believe they can adequately take care of, and we are putting them under pressure to exceed the 1,600 benchmark.

“We may not get beyond 2000, but for sure, we will get 1,600 and like we all know, there are so many unemployed Nigerians out there. I will always say it is difficult for the NCS to absorb all unemployed Nigerians, but they can only employ those they can.”

The NCS CG said his organisation was seeking approval to give waivers to owners of smuggled cars to allow them regularise their payment of duties.

On the naira exchange rate, Adeniyi said he is equally pained by the volatility in the exchange rate regime.

He observed: “In fact, even if it stays high and people can predict that this is what it will take me to clear, perhaps it is not particularly too bad, but when it is so volatile, today it is X, tomorrow it is X+10, X+20, it does not make for adequate planning and things like that.

“Correctly, it is the mandate of the Central Bank of Nigeria (CBN) to fix the rate, either the one we use during the Medium Term Expenditure Framework (MTEF) or the one we use for importation, or the one used for payment of customs duties. I have been in discussions with my minister. Perhaps, what you are going to advocate is that there would be a meeting point between authorities of government that oversee monetary policy and those in charge of fiscal policies.

“Personally, what I think we can do is to get a spot rate for a period. We can agree that for Year 2024, this will be the spot rate for payment of customs duties. We could say for the first half of the year.”

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FG Hits Back at Emir Sanusi’s Economic Reform Remarks: ‘We Don’t Need Your Approval’

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Bola Tinubu and Sanusi Lamido Sanusi

The Federal Government has delivered a sharp rebuttal to Emir Muhammadu Sanusi II’s recent remarks about President Bola Tinubu’s economic reforms, expressing disappointment over his refusal to endorse the government’s actions.

Sanusi, a former Central Bank of Nigeria (CBN) governor, had voiced his hesitation to speak in support of the reforms, stating, “I have decided not to speak about the economy or the reforms, nor to explain anything regarding them. If I explained, it would only help this government, and I don’t want to help this government.” His comments were made at a public event in Lagos, where he also indicated that he would withhold his explanations despite the significant economic impact of the reforms.

In response, Minister of Information and National Orientation, Mohammed Idris, acknowledged that Sanusi’s decision to withhold support for the government’s economic agenda was his personal choice, but expressed frustration at his stance.
“It is rather curious for someone from an institution that champions transparency and integrity to openly admit to withholding the truth due to personal interests,” Idris remarked.
The Minister stressed that while everyone has the right to their opinion, the reforms under President Tinubu were designed to confront deep-rooted economic challenges, requiring bold and transformative actions. These reforms, including the unification of exchange rates and the removal of the fuel subsidy, are vital steps to secure Nigeria’s economic future.
Idris addressed Sanusi’s acknowledgment that the current economic pains were a necessary result of years of mismanagement, stating that these reforms are already showing positive results. “The unification of exchange rates has instilled investor confidence, leading to increased foreign reserves and better protection from external shocks,” he noted.

The government also highlighted the positive outlook for Nigeria’s economy, pointing to World Bank projections showing an upward trend in GDP and improvements in key sectors like infrastructure, education, and healthcare.

While expressing disappointment over Sanusi’s sudden criticism, Idris emphasized that Nigeria’s path to recovery requires unity and collective effort. “It is disheartening that reforms which were previously endorsed by experts like Emir Sanusi are now being subtly undermined,” he said.

Idris urged leaders like the Emir to set aside personal and partisan interests and work towards the greater good of the country. “This is a pivotal time for Nigeria, and what is needed is collaboration, not division,” he concluded.

The Federal Government reiterated that it remains committed to advancing economic reforms and fostering inclusivity, with a focus on long-term growth. The administration remains open to dialogue with all well-meaning stakeholders while steadfastly putting the country’s interests first.

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Ex-REDAN President Warns Developers of Moure Consult Fraud, urges FG Support on Housing

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By Ben Ogbemudia, Abuja

The immediate past President of the Real Estate Developers Association of Nigeria (REDAN), Dr. Aliyu Oroji Wamakko, has sounded an alarm to estate developers nationwide about the fraudulent tendencies of Moure Consult Ltd, under the leadership of its Managing Director, Sadiq Dalhatu Ado.
Speaking in Abuja, Dr. Wamakko revealed a surge in complaints from developers, particularly in the Federal Capital Territory, accusing Moure Consult Ltd of breach of agreements and unfulfilled promises.

According to Wamakko, many victims of the company have lodged formal petitions with relevant agencies, citing dubious financial practices.
He disclosed that in February 2024, Moure Consult Ltd approached various developers with a proposal to secure loan facilities for infrastructure development. The firm touted its expertise and partnerships, luring developers into agreements under false pretenses.
“Developers met all conditions laid out by Moure Consult Ltd with the expectation of receiving funds within 45 working days. But to date, no funds have been disbursed. Instead, developers have been subjected to excuses, missed deadlines, and evasive tactics,” Wamakko said.
The former REDAN president noted that victims were promised that funds, allegedly placed in fixed deposits, would be available by May 30, 2024. However, the deadline passed, and subsequent extensions yielded no results. Instead, developers received vague alternatives, including agricultural proposals and state contracts, which Wamakko described as distractions.
He condemned these actions, calling them a betrayal of trust that tarnishes the real estate industry’s credibility.
Amidst the warning, Wamakko urged the Federal Government to support the private sector in achieving affordable housing through the Ministry of Finance Incorporated (MOFI). He called for deliberate funding under President Bola Tinubu’s Renewed Hope Housing agenda to bridge Nigeria’s housing deficit.
“The government must create avenues for accessible financing that empower reputable developers to deliver affordable housing to Nigerians. It’s time to address the systemic barriers affecting both developers and citizens seeking shelter,” Wamakko emphasized.
This clarion call serves as a dual message: to warn against fraudulent practices and to advocate for proactive government intervention in the real estate sector.

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Neglect of War Veterans, Families Clouds Armed Forces Remembrance Day

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As Nigeria marked the 2025 Armed Forces Remembrance Day, voices of discontent from war veterans, widows, and civil society organizations took center stage, highlighting the neglect faced by those who sacrificed for the nation’s peace and security.
The solemn event, held across various locations, honored fallen heroes, but the lamentations of widows and retired servicemen revealed the systemic failures in supporting these individuals and their families.
At the Tafawa Balewa Square in Lagos, Mrs. Oluwaseyi Iliya, leader of the “Wives of Fallen Heroes” group, expressed disappointment with the Lagos State government. She criticized the lack of meaningful support for military widows, noting that promises made in previous years had not materialized.

“Military widows are suffering. Our husbands died serving this nation, but we’ve been abandoned,” she said. Iliya recounted a 2024 initiative where some widows received foodstuffs and grinding machines, but no further support followed.
Retired Col. Nasiru Salami, a 76-year-old civil war veteran, echoed similar sentiments, recounting his own struggles with unpaid pensions and unfulfilled promises. Speaking on Channels Television, Salami said, “I cannot recommend the Nigerian Army to my children because of how poorly we’ve been treated.”
Salami, who served on the Biafran frontlines during the Civil War, revealed that over 24,000 veterans in Lagos are still awaiting their war bonuses, more than five decades after the conflict ended.
Prominent Nigerians, including Peter Obi, and organizations like the Civil Society Legislative Advocacy Centre (CISLAC), have called for immediate government action. Obi urged the Federal Government to prioritize healthcare, education, and timely payment of benefits for military personnel and their families.
“These measures will inspire greater commitment and reinforce the dedication of our armed forces,” Obi stated on social media.
CISLAC’s Executive Director, Auwal Rafsanjani, called for national recognition of fallen heroes’ families, emphasizing empowerment programs and scholarships for widows and children as essential steps.
Vice President Kashim Shettima, representing President Bola Tinubu at the national parade in Abuja, acknowledged the sacrifices of Nigeria’s military personnel. He urged Nigerians to contribute to the welfare of the families of fallen heroes, while Lagos State Deputy Governor Obafemi Hamzat called for public support to alleviate their hardships.

Despite these appeals, many widows and veterans remain skeptical, viewing these gestures as hollow without tangible action.
As the nation reflects on the sacrifices of its armed forces, the voices of widows and veterans underscore the need for systemic reform. Beyond wreath-laying ceremonies, Nigeria must honor its fallen heroes by ensuring their families are not forgotten and their sacrifices are truly appreciated.
The Armed Forces Remembrance Day, while a solemn occasion, must inspire action to address the plight of those who gave their all for the nation’s peace and security.

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