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VAT: Appeal court order not binding on Lagos, says commissioner  

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Lagos State Government says the Court of Appeal order granted Friday on Value Added Tax is not binding on the state and has therefore resolved to go ahead with the implementation of its newly signed VAT law.

Commissioner for Information and Strategy, Mr Gbenga Omotoso, stated this while reacting to the order.

The Court of Appeal had ordered both Rivers and Lagos states to maintain status quo on the collection of VAT, pending the determination of an appeal that was lodged before it by the Federal Inland Revenue Service.

Omotoso said the order was not binding on Lagos State as it had not been joined in the suit yet by the court.

He said, “I’m not a lawyer but by my understanding from my colleague, the state had only sought to be joined in the Rivers’ state suit and up to this moment Lagos has not been joined in the suit, so how does the order concern Lagos when it has not been joined in the suit.

“We have not been joined in the matter, so the order is not binding on Lagos, it doesn’t concern Lagos.

“Lagos State only filed to be joined as an interested party in the matter”.

The Attorney-General and Commissioner for Justice, Moyosore Onibanjo, SAN, had also kicked against the order for the maintenance of status quo, insisting that such order could not be binding on it, since it was yet to be joined as a party in the appeal by the FIRS.

Recall that Governor Babajide Sanwo-Olu of Lagos State on Friday, signed into law the State VAT Bill.

The governor signed the “bill for a law to impose and charge VAT on certain goods and services” on Friday, shortly after returning from an official trip to Abuja.

Members of the Lagos State House of Assembly on Thursday, September 9, 2021 passed the VAT Bill, 2021 to the governor for assent into law.

Earlier, the bill went through its public hearing stage on Wednesday, which received resounding contributions and support from stakeholders.

The recommendations of the report of the Committee on Finance were unanimously adopted as the resolutions of the House, leading to its third reading.

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SERAP sues Buhari over alleged missing N11tn electricity fund

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President Muhammadu Buhari has been dragged to court by the Socio-Economic Rights and Accountability Project (SERAP) for allegedly failing probe N11tn electricity fund said to missing.

The money, according to SERAP, was meant to provide regular electricity supply for the country since 1999, and it is suspected to have “been stolen, mismanaged or diverted into private pockets.”

In the suit number FHC/L/CS/1119/2022 filed last week at the Federal High Court, Lagos, SERAP sought for “an order of mandamus to direct and compel President Buhari to investigate how over N11 trillion meant to provide regular electricity supply has been allegedly squandered by governments since 1999.”

This is coming after it was reported that Nigeria’s electricity grid has collapsed at least three times within five months, and 130 times in seven years, plunging many households across the country into darkness.

 

 

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Toyota-Suzuki joint SUV coming in August, Africa listed

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The collaboration between Toyota and Suzuki is set to manifest in concrete terms as Toyota says it will start the production of a new SUV model developed by Suzuki at Toyota Kirloskar Motor Pvt. Ltd from August.

The Suzuki-developed SUV will come with mild and strong hybrid variants – made in India for both brands, multiple sources including motorauthority.com report.

The two companies are said to be planning to export the new model to markets outside India including Africa.

Toyota and Suzuki are promoting mutual supply of vehicles globally, which is one of the collaborations in their business partnership.
The two companies signed a memorandum of understanding for a business alliance in 2017. Since then, the two companies have been bringing together Toyota’s strength in electrification technologies and Suzuki’s strength in technologies for compact vehicles for joint collaboration in production and in the widespread popularization of electrified vehicles.
The powertrains of the new model to be on sale in India will be equipped with mild hybrid developed by Suzuki and strong hybrid developed by Toyota.
By bringing together strengths of both Toyota and Suzuki through the collaboration, the two companies say they will be able to provide a wide variety of vehicle electrification technologies to customers and contribute to the acceleration of electrification and the realization of a carbon-neutral society in India.

While Suzuki leads and understands the India market, Toyota brings hybrid tech to the table.

Maruti Suzuki India Limited and TKM will market the new model in India as Suzuki and Toyota models, respectively.

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Ford to end production of Focus in 2025

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Ford has confirmed that it will stop producing the Focus model in 2025, in a move that threatens the longer-term future of its Saarlouis, Germany plant that only makes that model.

Nigeria may not miss the exit of the Focus as it has not really been as popular as other Ford models such as the Escape, the Edge and Everest.

Ford however said that its plant in Saarlouis would continue to produce the Ford Focus passenger car, while the company is also evaluating options for future site concepts.
In Europe, Ford has emphasised the future role for electrified models – which includes its Cologne plant in Germany being a hub for EV production. It will build a new SUV based on VW’s MEB platform from 2023.
Ford also recently announced that its Valencia, Spain, plant would receive investment for making electric vehicles on a next-generation electric vehicle architecture.

 

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