Reps demand implementation of N550b subsidy removal palliative

Date: 2023-11-16

• Senate decries over N1.3tr revenue loss to waivers, concessions in 2023

• Customs CG denies privy to over $3.2bn NCS modernisation project agreement

The House of Representatives has called for immediate implementation of the N550 billion presidential palliative intervention fund announced to cushion the impacts of fuel subsidy removal initiated by President Bola Tinubu.

The resolution was passed sequel to the adoption of a motion jointly sponsored by Olawuyi Raheem Tunji (APC, Kwara), Abubakar Gumi (PDP, Zamfara), Gaza Jonathan (SDP, Nasarawa), Zakaria Nyampa (APC, Adamawa) and Uchenna Okonkwo (LP, Anambra).

In his lead debate at the plenary yesterday, Olawuyi lamented that the removal of petrol subsidy announced by President Tinubu in May has adversely affected the majority of micro, small and medium enterprises in Nigeria, forcing businesses to shut down, destroying means of livelihood and plunging millions into poverty.

He said: “The House is aware that President Tinubu in his resolve to address the situation, unveiled via his address to the nation, on July 31, a N550 billion worth of government interventions cutting across three major sectors of the economy viz: Agriculture (N200 billion), MSME sector (N250 billion) and transportation sector (N100 billion).

“The House is further aware that the presidential pronouncement put the period of the implementation of the N550 billion palliatives between August 2023 to March 2024.

“The House is concerned that nearly five months after the removal of petrol subsidy, the implementation of this intervention, especially the MSME component that directly affect one million nano-businesses, is yet to take off.

“The House is worried that unless we intervene, the present economic situation occasioned by the removal of petrol subsidy and the floating of the Naira will further worsen the challenges being faced by SMEs in Nigeria,” he said.

The lawmakers thereafter mandated the Speaker, Tajudeen Abbas, to meet President Tinubu with the view to address the delay in the implementation of the intervention. IN another development, the Nigeria Customs Service (NCS) has denied having any details of the Customs $3.2 billion modernisation project. The Comptroller General of NCS, Adewale Adeniyi, made the disclosure at the National Assembly yesterday.

He was represented at a public hearing organised by the Senate Joint Committee scrutinising the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) by the Deputy Comptroller, General Mba Musa.

The Chairman, Senate Committee on Finance, Senator Sani Musa (APC, Niger), is leading chairmen of Appropriations, National Planning, Local and Foreign Debt panels to conduct the investigative hearing. The Senators had inquired from the Customs CG details of the agreement signed by the Federal government on the modernisation of NCS.

The Federal Executive Council (FEC) had in April 2023 approved the NCS modernisation project, also known as e-customs, despite a court order restraining the Federal Government from going on with the initiative. The administration of former President Muhammadu Buhari specifically approved the implementation of the project to a concessionaire.

The concessionaire is Bergman Securities Consultant and suppliers limited as the project sponsor, Africa Finance Corporation UFC as lead financier, while Huawei Technologies will be trained as lead technical service provider.

Speaking on the project, Musa told the lawmakers that NCS did not have details of the modernisation agreement. “We are not privy to details of the agreement,” he said.

He further disclosed that NCS lost N1.3 trillion in 2023 due to waivers and concessions the former President Buhari-administration granted to investors.

He explained that waivers and concessions arrangements have deprived NCS the leeway to generate more revenue to the nation's Consolidated Revenue Fund this year.

Not comfortable with the arrangement, Musa, Chairman of the Joint Committee, said the Senate would commence investigation into the granting of waivers and concessioning in the country.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Sheu Ndanusa Usman     Muhammed Akanbi     Garba Ayodele Wahab     Aisha Abodunrin Ibrahim     Chartered Institute Of Personnel Management Of Nigeria     Ilorin Likeminds Foundation     Senior Ibrahim Suleiman     Mukhtar Shagaya     Sheikh Ridhwanullah El-ilory     Police Commissioner     Ayegbeni     General Tunde Idiagbon International Airport Ilorin     Abdulmajeed Abdullahi     Kamaldeen Ajibade     Al-Hikmah Radio     Ibrahim Oniye     Democracy Day     Sheikh Ariyibi     Jeunkunu-Malete-Bani     Ilorin     Kassim Babamale     Abdulraheem Yusuf     Ope Saraki     Kolawole Bashirat     Ramat Oganija     Hakeem Idris     Quareeb     Opobiyi     Henry Olaosebikan     Wahab Femi Agbaje     Yoonus Kola Olatinwo     Kemi Adeosun     Bisi Kristien     Abdulrahman Onikijipa     Oyin-Zubair     Ramadan     IYA YUSUF     Maryam Ado Bayero     NIPOGA     Hassan A. Saliu     Orisa Bridge     Adebara     Idofin     Kwara State Governor     Abdulazeez Uthman     Ajasse-Ipo     College Of Health     Abdullahi Samari     CACOVID     Funmilayo Zubair     Makama Of Kaiama     Aliyu Olatunji Ajanaku     Okasanmi Ajayi     Senior Staff Union Of Colleges Of Education     Olatunde Oyeyiola     Abdulrauf Yusuf     Simeon Sayomi     The Herald     Volunteers Of Ilorin Community And The Emirate     Isiaka Yusuf     Bayer Nigeria Limited     Olaiya Victor Mobolaji     Assayomo     Abubakar Usman Jos     Saad Omo\'ya     Vasolar Consultoria     Clara Nwachukwu     Toyin Falola     Ike Ekweremadu     Vishvas KOZ Tractors     Arca Santa     Oro Grammar School Old Students Association     Shuaib Jawondo     KWATMA     Doyin Awoyale     Mutawali     Kaosarah Adeyi    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Bayo Ajia     Special Agro-Industrial Hub     Abdulrasaq Alaro     Oke-Kura     Yusuf A. Usman     Women Radio     Oyeyemi Olasumbo Florence     Kayode Laro     V.O. Abioye     Amusa Bello     Okanlawon Musa     Afeyin-Olukuta     Mike Omotosho     Kwara State Coalition Of Business And Professional Associations     Soffiyyallah Kamaldeen     Odo-Owa     Bola Shagaya     Isiaka Yusuf     Okin Malt     Harafat E. Mukadam     Sabitiyu Grillo     Shehu Salau     Atiku     Road Transport Employers Association Of Nigeria     Demola Banu     Public Holiday     Isiaka Rafiu Mope     Idiagbon     Ibraheem Abdullateef     Oniyangi Kunle Sulaiman     Gaa Olobi     Seun Bolaji     Rafiu Ibrahim     Abdulazeez Arowona     TESCOM     Yemi Sanni     Aisha Buhari     National Pilot     Oko Erin     Eleja     Omu Aran     Ilorin Durbar     Amule Elementary School     General Hospital     Principal Private Secretary     Garba Dogo     Adaramaja     Tricycle Owners Association Of Nigeria     Noah Yusuf     Muhammed Abdullahi     Joseph Alex Offorjama     EndSARS     Funmilayo Oniwa     Ademola Kiyesola     Jumoke Gafar     Fatimah Abdulkadir     Kazeem Adekanye     Ajayi Okasanmi     Sheikh Ariyibi     Abdulbaqi Jimoh     Abubakar B.M     Awodun     Alfa Modibbo Belgore     Olayinka Jelili Yusuf     Abdulfatah Ahmed     PharmAccess Foundation     Erubu Oba Zubair     Towoju     Atiku Abubakar     Christopher Tunji Ayeni     Hajj     Mumini Ishola Hanafi     Ilorin Emirate Staff Association     Hassanat Bello     Musa Abdullahi     Ibrahim Sulu Gambari     Suleiman Rotimi Iliasu