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Ghana, other African countries lobbying companies to leave Nigeria —Adebayo, Industry Minister
The Minister of Industry, Trade and Investment, Niyi Adebayo, revealed yesterday that many African countries were lobbying companies operating in Nigeria to leave and come to them.
Appearing before the House of Representatives Committee on Public Accounts, the minister, who led other agencies under the Ministry to the committee to respond to queries from the Auditor General for the Federation, said one of such countries was Ghana.
He said those countries had raised the capital allowances of the companies, stressing that those still left behind were attracted by Nigeria’s huge population.
He, however, said the federal government was making efforts to support investments.
“Our duty is to support investment growth in Nigeria. It is public knowledge that getting these investments is increasingly becoming difficult today,” he said.
In his remarks, Chairman of the House Committee on Public Account, Wole Oke, said the country is bleeding economically, decrying that several companies are evading taxes.
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“Nigeria is bleeding. We are borrowing daily to finance our budget and the Minister of Finance has said the reason we are borrowing is the fact that we are not collecting the revenue we are supposed to collect.
“The Ministry of Industry, Trade and Investment has issued some instruments which earned companies tax breaks and tax holiday. But this scheme has been abused by the companies.
“When some of these companies appeared before this committee, we noticed from their presentation elements of tax invasion. For example, China Habour got a waiver of N5 billion to import nails and wire nets.
”In my village, we have a company that manufactures nails, but cost of manufacturing nails locally is higher than those imported. So, how do we encourage local production?
“The same company evaded some of the schemes of government and they are seeking to have pioneer status. We also have a company that has been existing in Nigeria since 1979 and has never paid one Kobo to the government. ALSCON has been in operation and has not paid a single Kobo to government’s coffers.
“There is a company that put up a show and usurped the function of NEPZA who are supposed to remit it’s operating surplus. But it’s licensees have undermined the agency.
“Millions of dollars that are supposed to go into NEPZA’a coffees are going into private pockets. That is why we are trying to find out if there is need to review existing laws because the Parliament will not allow the country to continue to bleed.
“MTN gave us certificate of acceptance worth N2.6 trillion and claimed to be the highest tax payers in the country. We are asking them to provide us evidence of how they got those certificates. That is where we are right now.
“Airtel, 9 Mobile are running away. But the law will catch up with them. We are aware that they have spent so much on their investment and so don’t want to be party to dragging their names in the mud. But they must come before parliament to defend the capital allowances they have collected,” he said.
Speaking on the operations of the Oil and Gas Free Zone Authority, Oke said the payments many companies claimed to have made could not be seen.
“Some licensees claimed to have made payment which we cannot see. For example, AGIP claimed it has paid millions of dollars to you. I checked the records of your submission and cannot find even one million dollars tracable to a single company.
“They also filed for capital allowance with FIRS and FIRS has given effect to that without the certificate of acceptance issued by the Ministry of Industry. We have asked for evidence of exception and there is none. We have also asked for a list of the assets they imported that qualified and inspected which the FIRS acted on,” he said.
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Tinubu jets out to France on three-day visit
Tinubu jets out to France on three-day visit
President Bola Tinubu will travel to France today (Wednesday) for a three-day state visit at the instance of the French president.
A statement issued by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, confirmed this.
It said, “The Nigerian leader’s three-day visit, which will focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria.”
Onanuga said Tinubu and Macron would harmonise positions on stimulating more interest in exchange programmes that focus on skill development for youths and improving their competencies in automation, entrepreneurship, innovation, and leadership.
“Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication,” he added.
“They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development.”
The presidential adviser stated that the Nigerian first lady and her French counterpart would discuss solutions for empowering women, children, and the most vulnerable through the Renewed Hope initiative.
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Yahaya Bello reports to EFCC office with lawyers
Yahaya Bello reports to EFCC office with lawyers
A former Governor of Kogi State, Yahaya Bello, on Tuesday visited the Economic and Financial Crimes Commission (EFCC) to honour another invitation extended to him over alleged misappropriation of funds.
Bello went to the anti-graft office with his lawyers in the morning.
The ex-Kogi governor reportedly drove himself to the EFCC’s office in a black Toyota Hilux van with some lawyers.
He was said to have been taken by some operatives of the agency and are currently being grilled.
This is coming after the Supreme Court judgment which dismissed a suit brought by some state governments challenging the constitutionality of the agency.
The EFCC at the last hearing on November 14, sought the adjournment till November 27 in the fresh case it instituted against Bello.
It stated that the 30-day window was still running for the summons earlier issued.
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Just in: Ebonyi governor suspends two commissioners, Perm Sec for misconduct
Just in: Ebonyi governor suspends two commissioners, Perm Sec for misconduct
Ebonyi State Governor Francis Nwifuru has announced the immediate suspension of two commissioners with a permanent secretary among others for gross misconduct.
Those suspended are the Commissioner for Housing and Urban Development Francis Ori, and the Commissioner for Health, Moses Ekuma, with the Permanent Secretary of the Ministry of Health.
The suspension followed an incident on Saturday night, when the governor reportedly visited the Ministry of Health’s premises and was said to have found six officials diverting government materials.
Others suspended for three months are the Executive Secretaries of the State Primary Healthcare Development Agency and the Ebonyi State Health Insurance Agency
The suspension order was announced by the state Commissioner for Information, Jude Okpor, who cited alleged misconduct and dereliction of duties as the reasons for the disciplinary actions.
Okpor made the disclosure on Tuesday during a press briefing on the outcomes of the State Executive Council meeting held on Monday at the New Government House in Abakaliki, the state capital.
“Following cases of gross misconduct and dereliction of duties by some government officials and matters related thereto, the Chairman of Council directed the indefinite suspension of the Honourable Commissioner for Housing and Urban Development and three months suspension of the Honourable Commissioner for Health, respectively
“In view of the development, the Special Assistant to the Governor on Primary Health was directed to take charge of the ministry in the absence of the suspended commissioner.
Governor Nwifuru directed the suspended government officials to hand over all government properties in their possession including vehicles to the Secretary to the State Government.
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