Reps reject Customs N1.33tn revenue target for 2022 – Newstrends
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Reps reject Customs N1.33tn revenue target for 2022

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The House of Representatives Committee on Finance has rejected N1.33tn revenue target of the Nigeria Customs Service for 2022, saying it is too low.

The committee gave its verdict at its 2022 to 2024 Medium-Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP) interactive session with Ministries, Departments and Agencies, said with new technologies deployed and the recent devaluation of the naira, Customs should be able to generate more revenue.

Leke Abejide (SDP-Kogi) said that with the recent devaluation of the naira, he expected that the proposal of the NCS should be  N2 trillion or above.

He said the exchange rate for 2021 was N381 to a dollar and the targeted revenue generation was N1.6 trillion, adding that the service should factor in the devaluation of the naira and increase their target.

The lawmaker said the service would still surpass an upward review target, adding that the new Finance Act had empowered the service to generate more revenue from alcoholic beverages and tobacco as against 2021.

Ahmed Muhktar (APC-Kaduna State) said that customs should be able to generate more revenue following the ongoing deployment of technology in revenue collection.

He said that with the number of training and retraining lined up in the NCS budget, the service should be able to generate much more than N1.33 trillion.

According to him, the committee will not accept anything less than N3 trillion.

The Chairman of the committee, Mr James Faleke (APC-Lagos State), said at the beginning of every year, the Budget Office takes a critical look at expected revenue generation of the country.

He said that was done to know the required funds and make adequate preparation for borrowing, adding the amount of money to be borrowed would reduce if more revenue could be generated.

Faleke said, “We are saying no, that your gross revenue generation is low given all the available opportunities that you have; when you also look at your previous performance 2020 to 2021.

“For us as a committee on finance, we will not accept the N1.3 trillion, I am sure by the time our report comes out, you will be pleasantly happy.”

Comptroller-General of Customs, Col. Hameed Ali (rtd), had earlier told the committee that the service planned to generate N1.33 trillion in 2022.

Ali said the service came up with the figure after analysing the average revenue collection in the previous and was trying to be as realistic as possible.

“We are expecting in 2022, N1.33 trillion, that is what we are proposing; we are hoping that things will improve, importation do fluctuate and we do not have any constant measurement.

“So, we take the average of what we collected in the previous year and compute it and come up with a figure that is realisable.

“Whatever comes thereafter, it is our hope that we will surpass it by far but we are trying to be as realistic as we can in our proposal,’’ he said.

Ali, however, said should any extra money be generated, it would go straight into the federation account and that the service had no intention to defraud the government. (NAN)

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Appeal court takes over NURTW case as NIC withdraws

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Appeal court takes over NURTW case as NIC withdraws

The National Industrial Court has withdrawn from a case involving Alhaji Najeem Usman Yasin, Board of Trustees chairman of the National Union of Road Transport Workers (NURTW), and Alhaji Tajudeen Ibikunle Baruwa’s ambition to return as president of the union over lack of jurisdiction.

The industrial court’s decision was made to avoid conflict with the Court of Appeal, where the matter is already being heard.

Before the NIC announced its decision to hands-off the case, the defendants’ counsel, Mr. O.I. Olorundare SAN, had informed the court that the matter is currently before the Court of Appeal, Abuja division, and that the industrial court could not continue to adjudicate on the same matter.

The counsel cited authorities to support his claim, adding that the National Industrial Court does not have concurrent jurisdiction with the Court of Appeal.

The presiding judge, O.O. Oyewunmi, struck out the case, stating that the Appeal Court had taken over the matter and that the Industrial Court must respect the hierarchy of courts.

Alhaji Yasin and six others took the case to the Appeal Court, challenging the decision of the industrial court recognising a delegates’ conference held on May 24, 2023, where Baruwa was proclaimed as President of the union for a second term in office.

With the latest NIC judgement, both parties will now proceed to defend their positions at the Court of Appeal and await the final judgement.

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Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

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Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

Despite the intervention of the CCPT, Multichoice Limited has proceeded to increase packages price for DSTV and GOTV as announce on Wednesday last week.

Newstrends had earlier reported that the corporation announced that the new rates will go into effect on Wednesday, May 1, 2024, in a statement.

Meanwhile, on Monday, MultiChoice Nigeria Limited was ordered by the Competition and Consumer Protection Tribunal (CCPT) in Abuja to suspend the planned prices and tariffs hike on packages and services.

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The three-member tribunal, presided over by Saratu Shafii, gave the interim order following an ex-parte motion moved by Ejiro Awaritoma, counsel for the applicant, Festus Onifade.

News prices includes: DStv, Premium bouquet, the price moved from N29,500 to N37,000; Compact+ from N19,800 to N25,000; Compact from N12,500 to N15,700; Confam from N7,400 to N9,300, among others.

For GOtv users, Supa+ increased from N12,500 to N15,700; Supa moved from N7,600 to N9,600; Max from N5,700 to N7,200; Jolli, from N3,950 to N4,850, among others.

Multichoice shuns court order, proceeds with increase of DSTV, Gotv packages

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As controversy over Maersk-FG port investment rages, Onanuga says no $600m deal signed

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As controversy over Maersk-FG port investment rages, Onanuga says no $600m deal signed


The Nigerian government and a shipping giant, Maersk, have not signed any investment agreement, Bayo Onanuga, special adviser on information and strategy to President Bola Tinubu, has said.
Onanuga was reacting to the controversy surrounding the reported sealing of a $600 million deal for the development of the nation’s seaports.
He said there was only talk “of possible investment in Nigeria” by Maersk.
Interestingly Onanuga had hinted about the deal in a tweet said to have been pulled down after the social media backlash.
After President Tinubu’s discussion with Maersk’s Chairman Robert Uggla on April 28, on the sidelines of the World Economic Forum Special Meeting in Riyadh, Saudi Arabia, the presidency had released a statement announcing that the shipping company had pledged to inject $600 million into the Nigerian seaport industry.
“Danish shipping company, A.P Moller-Maersk plans $600m investment in Nigeria. Danish shipping and logistics company A.P Moller-Maersk has disclosed a planned investment of $600 million in Nigeria to accommodate more container shipping services in Nigerian ports,” Onanuga wrote on X.
In a statement, Tinubu’s spokesperson, Ajuri Ngelale, also said “President Tinubu meets Chairman of Danish shipping giant Maersk, secures $600 million investment in Nigerian seaport infrastructure.” He quoted Uggla as saying, “We believe in Nigeria, and we will invest $600m in existing facilities and make the ports accommodating for bigger ships.”
In response to this. Maersk officials have denied any such agreement and stress no deals have been signed.
Onanuga in a new report by TheCable, an online news platform admitted no agreement on investment had been reached by the two parties.
“I think the statement issued by Maersk did not talk about a deal. There was no deal according to that statement that I read.
“However, there was talk of investment,” the special adviser said.
“No document or agreement was signed, so there was no deal. But there was talk of a possible investment in the country.
“So, go and read the statement again. They never said any deal was signed between the Nigerian government and the Dutch company. There was nothing like that.”
Onanuga however said the shipping company did not expressly deny that there was an investment talk.
He said people are “unnecessarily giddy over nothing.

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