Business
Presidency defends Pantami, says enemies of govt behind smear campaign
The Presidency on Thursday rose in defence of the embattled Minister of Communications and Digital Economy, Dr Isa Pantami, saying he had since apologised for his alleged past association with Al-Qaeda and Taliban.
Some groups and individuals have called for his removal of his reported link with the terrorists in the past.
It also said the ‘cancel’ campaign against the minister was aimed at smearing his image despite the good work he was doing to improve the lives of everyday Nigerian in the last two years.
Senior Special Assistant to the President on Media and Publicity, Garba Shehu, in a release, said Pantami had atoned for what he said in the early 2000s, adding that the views were absolutely unacceptable then, “and would be equally unacceptable today, were he to repeat them, but he will not repeat them – for he has publicly and permanently condemned his earlier utterances as wrong.”
The statement also stated, “In the 2000s, the minister was a man in his twenties; next year he will be 50. Time has passed, and people and their opinions – often rightly – change.
“But all discerning Nigerians know this manufactured dispute is nothing to do with the Minister’s prior words, but solely concern his actions in the present.
“Today, there is an unfortunate fashion in public discourse that makes leaders in politics, religion, and civil society liable in the present for every statement they have ever made in the past – no matter how long ago, and even after they have later rejected them. This insidious phenomenon seeks to cancel the careers of others on the basis of a thing they have said, regardless of when they said it.
The Presidency attributed the travail of Pantami to a “cancel campaign” instigated by those who seek his removal emphasising that those people “do not really care what he may or may not have said some 20 years ago: that is merely the instrument they are using to attempt to “cancel” him. But they will profit should he be stopped from making decisions that improve the lives of everyday Nigerians”.
The release also stated that the present administration was committed to improving the lives of all Nigerians which include ensuring they are not over-charged or under-protected for those services on which modern life depends.
It thereafter reeled out the sterling performance of Pantami since he assumed office as Minister of Communications and Digital Economy in 2019.
Presidency also stated, “The minister has been leading the charge against illegal data deductions and pricing; he has revolutionised the government’s virtual public engagement to respond to COVID-19 and save taxpayers’ money; he has established ICT start-up centres to boost youth entrepreneurship and create jobs; he has changed policy to ensure locally produced ICT content is used by ministries, starting with his own; and he has deregistered some 9.2 million SIMs – ending the ability for criminals and terrorists to flagrantly use mobile networks undetected. In two short years, Minister Pantami has driven the contribution of the ICT sector to the GDP to more than 18 percent, making it one of the top two playing a critical role in the emergence of the economy from the COVID 19-induced recession.
“In putting people first, the minister and this administration have made enemies. There are those in the opposition who see success and want it halted by any means. And there is now well-reported information that alleges newspaper editors rebuffed an attempt to financially induce them to run a smear campaign against the minister by some ICT companies, many of which do indeed stand to lose financially through lower prices and greater consumer protections. The government is now investigating the veracity behind these claims of attempted inducement, and – should they be found to hold credence – police and judicial action must be expected.
“The administration stands behind Minister Pantami and all Nigerian citizens to ensure they receive fair treatment, fair prices, and fair protection in ICT services.”
Business
Over 60% firms, individuals not paying tax, says LCCI president, warns against overtaxing
Over 60% firms, individuals not paying tax, says LCCI president, warns against overtaxing
President and Chairman of Council, Lagos Chamber of Commerce and Industry LCCI, Gabriel Idahosa, has cautioned against the multiplicity of taxes by the Federal Government, saying the development was not good for the economy. Speaking on an Arise television show monitored in Abuja, Idahosa said it was not possible to begin to raise money for every little thing in government.
He said the federal government should instead increase the capacity of the Federal Inland Revenue Service FIRS to collect taxes, noting that not up to 40 percent of taxable persons and organizations were taxed. According to him, the countries that are most efficient in tax collection are the countries that have the minimum number of taxes.
His words: “It is not really possible to begin to raise money for every little thing in government. To levy for cyber security, industrial training, insurance, levy for police trust fund and others, the whole approach in recent times of trying to put levy on everything is simply not the way to manage public finance in any country.
“The business of raising revenue for government is assigned to a specific organization in government which is the Federal Inland Revenue Service FIRS in the case of Nigeria. It is the business of the FIRS to get revenue for all the services of the Federal Government of Nigeria. The countries that are most efficient in tax collection are the countries that have the minimum number of taxes.
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It has been established during the time of the Taiwo Oyedele Tax Reform Commission that some of the levies and taxes that you create does not translate into significant increase in revenue and in any country, the agencies in charge of activities like these, whether it is high level intelligence or security, are funded from the budget of the country and the way they are funded usually is not a matter for public conversation. Nobody exposes the way the intelligence agencies of countries are funded.
“The technical issue of whether the Act was correct or not is minor. The big issue is should government of Nigeria encourage all agencies to be coming with all manner of levies for every single thing. You want something on health and you have a levy, in security you have a levy etc. That should be the more important conversation, that there should be a concerted effort to increase the capacity of the FIRS to do the job of revenue collection.
As we speak, not up to 40 percent of taxable persons are taxed. The first thing to do is to bring all taxable people into the net and then tax them accordingly. You don’t even need to raise the tax. More than 60 percent of taxable organizations and individuals are not paying tax. That should be the focus. The first level of taxation is identity. Identify economic actors at all levels right to the remotest villages.
The capacity of the FIRS to reach tax payers across the country was not built over time but with the dwindling of oil revenue, that capacity has been increased. You are beginning to see FIRS offices in several parts of the urban areas and state capitals but more than 60 percent of Nigerian businesses are not in the urban areas or state capitals. Any country that wants to collect tax, has to go very granular. Businesses that exist in every village must be taxed and that is where the FIRS is moving slowly but steadily”, he stated.
Over 60% firms, individuals not paying tax, says LCCI president, warns against overtaxing
Aviation
FAAN begins sale of e-tags at airports
FAAN begins sale of e-tags at airports
The Federal Airport Authority of Nigeria (FAAN) on Friday commenced the sale of electronic tags (e-tags) at airports.
The initiative, it said in a statement, was in line with the presidential directive that mandating the use of e-tags for accessing the nation’s federal airports.
“Following the presidential directive that all citizens are mandated to pay for e-tags at all the 24 federal airports across the country, we wish to inform the general public that the e-tags are available for sale from Friday, 17th May, 2024 at the following locations,” FAAN said.
“Lagos: Murtala Muhammed International Airport Lagos, Terminal 1, 5th Floor) Office of HOD Commercial. Contact: 08033713796 or 08023546030.
“Abuja: Nnamdi Azikiwe International Airport, HOD Commercial Office (General Aviation Terminal) Contact: 08034633527 or 08137561615.”
FAAN however said there would be an option to pay in cash at the access gates for motorists without e-tags.
On May 14, Minister of Aviation and Aerospace Development, Festus Keyamo, announced that everyone, including the President and Vice President, would pay tolls at the airports.
Keyamo said the government was losing over 82 per cent of the revenue it should have earned from the access fee.
Business
Your pension funds safe, won’t be accessed illegally, FG tells workers
Your pension funds safe, won’t be accessed illegally, FG tells workers
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, says the Federal Government has no plans of illegally accessing the N20 trillion pension funds for infrastructure development.
He said noone should entertain any fear over the safety of the contributions of workers that make up the pension funds.
Edun had earlier said the spoken on a move to use the pension funds as part of the government’s efforts to bridge Nigeria’s estimated 20 million housing deficit, and provide massive housing and mortgage loans at 12 per cent interest rates, with 25-year repayment plans.
The minister’s comments had elicited serious reactions from notable groups and Nigerians, including the organised labour and a former Vice President, Alhaji Atiku Abubakar, who advised the government to suspend the move.
Atiku said the move was potentially disastrous for retired Nigerians dependent on their pensions.
But in a statement personally issued on Thursday, Edun said the stories making the rounds that the government planned to illegally access the savings and pension contributions of workers were false.
He stated that the pension industry was guided by rules, adding that the government would be strictly guided by extant rules in accessing the pension funds of workers.
The minister stressed that government would not go outside the stipulated limitations on what the funds could be invested in.
The statement read in partu, “It has come to my notice that there are stories making the rounds that the Federal Government plans to illegally access the hard-earned savings and pension contributions of workers. Nothing could be farther from the truth.
“The pension industry, like most the financial industries, is highly regulated. There are rules. There are limitations about what pension money can be invested in and what it cannot be invested in.
“The Federal Government has no intention whatsoever to go beyond those limitations and go outside those bounds, which are there to safeguard the pensions of workers.
“What was announced to the Federal Executive Council was that there was an ongoing initiative drawing in all the major stakeholders in the long-term saving industry, those that handle funds that are available over a long period to see how, within the regulations and the laws, these funds could be used maximally to drive investment in key growth areas, including infrastructure, housing, and, of course, to find a way to provide Nigerians with affordable mortgages.
“Within this context, there is no attempt, nor is it being considered, to offer unsafe investments for pension funds or even insurance funds or any investment funds.
“No attempt whatsoever to increase the risk. No attempt whatsoever to lower the returns that would otherwise be earned.”
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