Author: Tamara

2020 budget contains N150bn wasteful expenditure.

2020 Budget

The Centre for Social Justice on Wednesday faulted the 2020 budget presented by President Muhammadu Buhari to the National Assembly, stating that the fiscal document contained about N150.07bn expenditures that are “frivolous, inappropriate, unclear and wasteful.” The group stated this in a report made available to our correspondent by its Lead Director, Eze Onyekpere. The report analysed the 2020 budget of about N10.33tn which is currently before the National Assembly. The group in the report called on lawmakers to critically review the fiscal document in order to remove all the expenditures that would not impact positively on the lives of the people. It recommended...

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Auto dealers, others battle FG over used Chinese cars.


The Federal Government has come under intense pressure to stop the planned sale of used Chinese cars in the country even as some Nigerian firms interested in marketing the low-cost vehicles are reportedly making enquiries. Already, many vehicle assemblers, car dealers and relevant organised groups have vowed not to back down on their opposition of used Chinese imports until the idea is jettisoned. China’s Ministry of Commerce announced about two months ago in a statement that it would soon begin the shipment of its used cars to 10 global markets including Nigeria. The action is aimed at driving the China’s vehicle sale, which...

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Reps Proposes Health Bank bill.


The Deputy Chairman of the House of Representatives Committee on Health Care and Services, Dr Samuel Adejare, has said that the committee is working on a bill for the establishment of a health bank, which will help to improve health care services in Nigeria. The lawmaker spoke in Abuja during a family planning programme jointly organised by the Society of Gynaecology and Obstetrics of Nigeria, Development Research and Projects Centre, and Partnership for Advocacy in Child and Family Health at Scale. The theme of the programme was, ‘Universal health coverage towards reducing maternal mortality: The role of child spacing and family planning.’ Giving...

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Entrepreneurship panacea to youth unemployment.

The Chairman, Board of Directors of Anambra Motor Manufacturing Company Limited (ANAMMCO) Ltd, Chief Godwin Okeke, has said that the solution to youth unemployment, cultism and cyber crimes is setting up three-month entrepreneurship programme in place of current National Youths Service Corps (NYSC) programme. He said that restructuring of NYSC programme to an intensive three-month entrepreneurship training and giving the corps members bulk money of the service to start their own business would not only reduce the rate of unemployment but create jobs for the teeming youths that turn out every year from universities. Okeke, who is also the Chairman of G.U.O Transportation Service Limited, stated this while speaking with our reporter...

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Lagos NLC demands 400% increase in workers allowances.


The Lagos Chapter of the Nigeria Labour Congress (NLC) has demanded that the transport, housing and other allowances paid to workers in the state should be increased by 400 per cent. The union said while N30,000 has been approved as the new national minimum wage, the minimum wage for workers in Lagos State should be N50,000. Stating these demands during a rally to mark the World Day for Decent Work in Lagos on Monday, the union said working in Lagos was more challenging than in other states. The Chairman, NLC, Lagos Chapter, Funmi Sessi, said Lagos was a special place and should attract a special form of allowances...

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Exporters Accessing Our Intervention Funds, NEXIM Insists.


Contrary to some media reports, Nigerian exporters have not shunned government intervention and are accessing funds under the N50 billion Export Development Fund (EDF), being managed by the Nigerian Export-Import Bank (NEXIM) NEXIM made the clarification in a statement Thursday. According to the Bank, over the last nine months, more than N60 billion had been approved in support of commodity exports such as cocoa, sesame seed, cashew nuts, hibiscus, ginger shea products as well as hides and skin, among others, in the different geological zones of the country. “Exporters are drawing down gradually in line with the seasonality of agricultural produce. Indeed,...

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NISA Tasks FG on Improved Healthcare Delivery.


The Nigeria Implementation Science Alliance (NISA) has tasked the federal government on policy implementation towards improved healthcare delivery in the country. The Chairman, NISA Board of Trustees, Prof. Echezona Ezeanolue stated this at the fifth NISA Conference with the theme “Achieving impact through Implementation Research’ in Abuja recently. He said health organisations and government agencies need to share information on research and bridge the gap between research and practice.The chairman, who is also the Vice President, Healthy Sunrise Foundation, said the conference was aimed at solving problems including those concerning healthcare in the country. He said “We are looking for a solution through...

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Nigeria’s leather industry generates $600m yearly.


Minister of Science and Technology, Dr. Ogbonnaya Onu, has disclosed that Nigeria’s leather industry generates between $600m to $800m in revenue for the country annually. He stated this yesterday at the “Validation of the Leather Policy Implementation Plan” organised by the ministry in Abuja. Onu, who was represented by the Minister of State for Science and Technology, Abdullahi Mohammed, said there was an urgent need to implement the National Leather and Leather Products Policy to boost leather production as a source of revenue for the country. “Leather has a global market size of about $20b traded annually and a lot of opportunities abound...

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Proposed VAT increase will impact more on urban communities, wealthier population.


Ahmed, who said this at the 25th Nigerian Economic Summit in Abuja on Monday, explained that the proposed tax increase would not affect the poor masses as perceived by some people The proposed VAT increase is likely to impact more on consumption by the urban communities and the wealthier sections of the population than on the poor.’’ According to Ahmed, her ministry will coordinate its fiscal policies with the Central Bank of Nigeria (CBN)’s current tight monetary policy stance to ensure that the appropriate out turns are achieved in terms of growth, consumption and inflation. She, however, said that Nigeria’s VAT contribution to...

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Residence Planning – Important Points.


The first step in optimizing your planning situation is to identify all those countries to which you are linked in some way. This involves two key factors: the location and nature of your property and business assets and your place of residence. A change of residence to a suitable country is an increasingly important aspect of international planning for private clients. For some individuals and families, a change of residence is a very sensible proposition. This is particularly the case for clients who live in countries with limited options for tax and estate planning, for those seeking more lifestyle choices and for...

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