CONTRIBUTING WITH OPINIONS,WISDOM,COMMENTS,VOTES,
VOICES,COMMENTS,UNDERSTANDING,COLUMN,IDEAS AND SUPPLICATIONS BY TAKING OPINION VOICES TO AFFECT TOTAL CHANGE ACROSS ALL LEVELS.
Former Senior Special Assistant to ex-President Goodluck Jonathan on
Public Affairs, Dr, Doyin Okupe, on Tuesday, advised the President
Muhammadu Buhari-led Federal Government to increase Nigeria’s Value
Added Tax (VAT) to 15 per cent, following the fall in the price of crude
oil.
Okupe, however noted that for this increment to happen, FG must apply
justice and equity, where each state of the federation must benefit
only from its own contribution. Okupe
Okupe who took to his Facebook page said: “I am always amazed when
people including very knowledgeable and highly placed persons speak of
diversification of the Nigerian Economy whenever there is a threat of
fall in revenue from crude oil sales as it is presently.
“For the avoidance of doubt the Nigerian economy has hither to been
significantly diversified to a commendable level. About a decade ago the
contribution of revenue from sale of crude to Gross Domestic Product
(GDP) was in excess of 60 per cent while its contribution to National
income was well over 90 per cent.
“However by January 2015, the contribution of revenue from crude to
National income has come as low as 68 per cent, while that to GDP was
less than 20 per cent. This is the truest incontrovertible evidence of
the fact that the economy has been substantially diversified.
“This truth is evinced by the fact that the total income from crude
sale was about $73billion. (2million barrels×365×$100/barrel). With a
revised GDP of $500 billion, the actual contribution is approximately 15
per cent. Diversification does not directly increase government income
proportionately as does direct income from sale of crude oil.” VAT increment
Continuing, he said, “Since governments worldwide do not do business,
increase in government income or revenue can only come from taxation,
Royalties,Bonds,licenses and sale of assets. In our present situation,
therefore, while we must continue to encourage growth of the real
sectors of the economy, government must pay serious and special
attention to maximising efforts at tax collection. The The Internal
Revenue Service (IRS) collected over N4 trillion in 2015. Many believe
this is just about 60 per cent of what is due.
“We may also in view of current realities, need to actually increase
our Value Added Tax (VAT) to 15 per cent. But here, justice and equity
must apply. Each state of the federation must benefit only from its own
contribution. That is if N100 billion is collected from Kano, it stays
in Kano and 50 per cent is remitted by Kano state to the federation
account.”
“Our country is blessed with great human resource. We now need to
invest in human development programmes, encourage entrepreneurship and
encourage small and big businesses to pay correct and due taxes. Nigeria
can and will survive in spite of current economic challenges,” Okupe
advised.
He called on government to pay serious and special attention to maximizing efforts at tax collection.
Dr. Okupe, in a post on his Facebook wall, said the government made
N4 trillion from tax through the Federal Inland Revenue Services.
“In our present situation therefore, while we must continue to
encourage growth of the real sectors of the economy, government must pay
serious and special attention to maximizing efforts at tax collection.
“The FIRS collected over N4trillion in 2015. Many believe this is
just about 60 per cent of what is due. We may also in view of current
realities, need to actually increase our VAT to 15 per cent.
“But here justice and equity must apply. Each state of the federation
must benefit only from its own contribution. That is if N100billion is
collected from Kano, it stays in Kano and 50 per cent is remitted by
Kano state to the federation account,” he said.
He explained that Nigeria’s economy had always been diversified in his post.
Okupe argued that diversification does not directly increase
government income proportionately as does direct income from sale of
crude oil.
According to him, since governments worldwide do not do business,
increase in government income or revenue can only come from taxation,
royalties, bonds, licenses and sale of assets.
“I am always amazed when people including very knowledgeable and
highly placed persons speak of diversification of the Nigerian economy
whenever there is a threat of fall in revenue from crude oil sales as it
is presently.
“For the avoidance of doubt the Nigerian economy has hither to been significantly diversified to a commendable level.
“About a decade ago, the contribution of revenue from sale of crude
to GDP was in excess of 60 per cent, while its contribution to National
income was well over 90 per cent,” he stated.
ABUJA — THE Director- General of
the proposed Maritime Security Agency, Mr. Jacob Ovweghre, weekend,
lamented the huge amount the country is losing daily to pipeline
vandalism and crude oil theft, stating that the passage of its bill
currently before the National Assembly would help boost Nigeria’s
revenue by N3.1 trillion annually.
Ovweghre, who addressed newsmen in Abuja, further said once it gets
the necessary legal backing, issues of pipeline vandalism and fuel
scarcity would reduce drastically, while fuel price might drop sharply,
as it would deploy all its personnel to oil installations across the
country to safeguard the assets from acts of sabotage.
He said the agency, which would be self-financing, would help address
the issue of unemployment, as it would create an avenue for over three
million youths to be gainfully employed.
He said presently, Maritime Security Agency is operating skeletal
services and is involved in intelligence gathering, noting that when its
bill is passed, its personnel would be deployed to areas notorious for
piracy, pipeline vandalism and crude oil theft to stem the nefarious
activities.
He added that its activities would help assure foreign investors that
Nigeria’s territorial waters and the country in general, is safe for
investment.
He said: “Maritime security is a complex task the world over. It
entails protecting all forms of maritime assets, identification and
evaluation of special maritime threats and how to comprehensively manage
them.
“To achieve the safety of Nigeria’s maritime industry, government
must vigorously and robustly explore collaborative synergy with relevant
stakeholders and organisations that possess the requisite expertise to
enhance the nation’s maritime security.
“It is on this note that we call on President Muhammadu Buhari, who
is reputed to be a listening and responsive president, to as a matter of
urgent national importance, grant necessary operational approval to the
Maritime Security Agency (MASECA) expressly.”
ABUJA — The Federal Government,
weekend, hiked the price of Household Kerosene (HHK) to N83 per litre
from N50 per litre, thereby, officially ending subsidy on the product.
The Petroleum Products Pricing Regulatory Agency, PPPRA , in its
product pricing template released, weekend, however, stated that the N83
per litre price applies only to the Nigerian National Petroleum
Corporation (NNPC), meaning that other petrol stations and dealers can
sell higher than the stipulated amount.
Curiously, the hike in the price of kerosene came at a time when the
price of crude oil had dropped to record low, with the price of
petroleum products, such as kerosene, fuel and diesel, among others,
dropping significantly in a number of countries, like the United States.
This also brings to question, the recent reduction in the price of
Premium Motor Spirit announced by the Federal Government and which
commenced at the beginning of the year.
Again, the PPPRA’s template also showed that at N83 per litre, the
Federal Government is making a gain of N10.72 for every litre, as it
puts the Expected Open Market Price, which is the Landing Cost plus
Total Margins at N72.28 per litre. The expected open market price is the
prevailing open market rate for the product in Nigeria, after taking
certain costs into consideration.
Giving a breakdown of the price, the PPPRA template put the Landing
Cost of the product at N57.98 per litre, while the total margin due for
middlemen was put at N14.30. WAITING:
Queue for kerosene at a Nigerian National Petroleum Corporation, NNPC,
Mega Filling Station in Yelwa, Bauchi State, yesterday.File PhotoFurther
breakdown of the Total Margins showed that retailers margin was put at
N5 per litre; Transporters, N3.05 per litre; Dealers, N1.95 per litre;
Bridging fund, N5.85 per litre; Marine Transport Average, N0.15 and
Admin Charges, N0.15.
The PPPRA further put official ex-depot price, which is the price
depot owners would sell at marketers, at N68.70 per litre, official
ex-depot price for collection, N73 per litre while ex-coastal price is
N68.02 per litre.
Late December, the PPPRA had on behalf of the Federal Government
announced that effective January 1, 2016, Premium Motor Spirit,
otherwise known as petrol, would be sold at N86 per litre by the
Nigerian National Petroleum Corporation (NNPC) retail stations, while
other oil marketers would sell at N86.50 per litre.
Executive Secretary of the PPPRA, Mr. Farouk Ahmed, who made the
announcement, said the reduction in the price of the commodity was due
to an implementation of the revised components of the Petroleum Products
Pricing Template for PMS and household kerosene.
According to him, the revised template, which would be reviewed on
quarterly basis, is geared towards ensuring an efficient and
market-driven price that would reflect current realities.
He said: “Since 2007, while crude oil price had been moving up and
down, the template remained the same. This had made it necessary for us
to introduce a mechanism whereby the template would be sensitive to the
price of crude oil.
“However, the template is not static, as there would be a quarterly
review and if there is any major shift, the Minister of State for
Petroleum Resources would be expected to call for a review, either
upward or downward, depending on the market condition.“
PUBLISHER of the daily devotional booklet, Our Daily Manna, ODM,
Bishop Chris Kwakpovwe has cautioned Nigerians especially those who
believe that President Muhammadu Buhari is Nigeria’s messiah, pointing
out that God’s promised messiah is yet to come.
The cleric noted that Buhari is the forerunner of the messiah who
will bring some changes if only he maintained his integrity and do the
right things, just as he condemned recent agitations for a sovereign
state of Biafra, saying “Biafra is like thick cloud without water or
rain.” Buhari
The bishop, who is also the General Overseer of Manna Prayer
Mountain, made these declarations at an interview session ahead of his
ministry’s annual world anointing service scheduled for next Friday at
the Tafawa Balewa Square TBS, Lagos. The theme of this year’s programme
is: “Jehovah Ebenezer – Lord wipe my tears”.
“President Buhari is not the messiah; he is only preparing the way
for the messiah who will eventually emerge. Buhari is like the John the
Baptist. As a politician, Buhari will bring about some changes if he
maintain his integrity and genuinely probe those he ought to probe,” he
stated.
Accprding to the bishop, there are certain persons who assisted the
president to get to power who he would not be able to probe even when he
knows that they are not innocent.
“The messiah who will genuinely transform our country will emerge.
Buhari is not the messiah but we should be hopeful that one day, we will
sing a new song,” he stated.
Pledging his unwavering believe in the unity of Nigeria, the cleric
argued that the peace the country has enjoyed since after the Nigerian
Civil War should not be broken by digging up residues of hate for the
selfish interest of certain individuals seeking to balkanize the nation.
He therefore enjoined all the pro-Biafra protesters to tread with
caution, sheathe their swords and dialogue with constituted authorities
on issues that would bring about unity, peace and progress of the
country.
In his words: “There is nothing like Biafra. Biafra is like thick
cloud without water or rain. There will be no civil war, our brothers in
the South East will enjoy President Muhammadu Buhari. They should just
allow peace to reign. Whatever challenges, disagreements that may have
re-surfaced, are not beyond our collective ability to resolve.”
On the world anointing night, Bishop Kwakpovwe said the annual
programme has attracted millions since its inception 11 years ago,
adding that this year’s edition will mark the end of a 21-day fasting
and prayer, which began on January 9.
He said: “It is a night of 12 mantles and there will be series of
testimonies, instant healing from God because God is going to visit His
people. God has promised to wipe all tears and He asked me to tell the
people to bring 12 mantles and these mantles are prophetic in nature.”
League Two side York City have signed Hull City midfielder Matt Dixon on an 18-month deal.
The 21-year-old made his debut for the Tigers in the League Cup first-round tie against Accrington Stanley in August.
Dixon was captain of the Championship club's under-21 side.
He could make his debut for the Minstermen, who are bottom of the Football League, in Saturday's match against Newport
The journey from scientist to one of the world's most sought-after sopranos is not a common one.
Omo Bello was doing
research into genetics in her native Nigeria when in 2006, she was
awarded a scholarship to train as an opera singer in Francece.
Five years later she graduated at the top of her class from the prestigious National Conservatory for Music and Dance.
Since then, Ms Bello has carved out a striking reputation on the operatic stage all over the world. Here's her story.
The transfer rumour mill is in full flow at Barcelona after the club saw its transfer ban lifted this month, and South Korean starlet Lee Seung-woo is set to see his release clause quadruple following a promotion in the team's ranks.
Lee is once again free to sign for the club after turning 18 on Wednesday, and according to Spanish daily Mundo Deportivo (h/t ESPN FC's Dermot Corrigan), his release clause could increase from €3 million (£2.2 million) to €12 million (£8.8 million).
The teenager moved to the Camp Nou from Incheon United in 2011 and was noted by Corrigan as one of the players whose arrival led to Barcelona being prevented from registering any new players throughout last year.
Lee was evidently eager to celebrate his landmark birthday after taking to his official Twitter account:
It's suggested the striker, who currently represents Barca's Juvenil A team, could make the move up to Barcelona B, part of the natural evolution in his career that opens up the chance of first-team involvement—and the rise in his clause.
In his first season with Barca's Infantil A, Lee scored 39 goals in 29 games to break a record previously set by club-mate Lionel Messi, leading the MailOnline's Pete Jenson to mention him as the "Korean Messi."
Jurgen Klopp is talking to former club Dortmund about centre-half Neven Subotic as he bids to shore up Liverpool’s injury stricken defence.
The Anfield boss hopes to bring in an experienced centre half on loan before Friday’s FA Cup game at Exeter to cover an crisis that sees them with NO fit centre halves at the club.
Reds defender Tiago Ilori’s 12 month loan has been cancelled by Aston Villa and he could go into the squad for Friday’s FA Cup visit to Exeter, but Liverpool still want an experienced addition in defence.
Talks are continuing over Subotic, who Klopp took to Dortmund from Mainz, but negotiations are stuck, and the Reds have also been in discussion with Inter about the possible loan of Italy international Andrea Ranocchia.
Cristiano Ronaldo will leave Real Madrid at the end of the campaign, according to reports in the Telegraph.
The former Manchester United star has enjoyed vast individual success since moving to the Bernabeu from United in 2009 but is ready to quit the club after seven seasons in Spain.
United and Paris-Saint Germain are reportedly the two clubs most likely to seal his signature.
Arsenal target Granit Xhaka is set to leave Borussia Monchengladbach, according to reports cited by the Telegraph.
The midfielder is understood to have been on Arsene Wenger’s radar for some time and the 23-year-old’s father, who is also his agent, has refused to rule out a transfer for his son.
“At the moment I prefer not to say too much,” Ragip Xhaka said. “We’ll see what happens. I can say that several big clubs are interested. Everything is possible, we’re not ruling anything out.”
Bayern Munich, Napoli and Tottenham are also reported to be interested in Xhaka.
Didier Drogba is in talks to end his playing career at Montreal Impact and become Guus Hiddink’s assistant at Chelsea.
Roman Abramovich is understood to have succeeded in his bid to persuade the 37-year-old former Blues striker to return for a third spell at Stamford Bridge.
Sources close to the player have confirmed discussions are taking place after less than a year in the MLS.
Drogba is expected to be in position alongside Hiddink at Chelsea in time for their Champions League round of 16 tie against Paris St Germain next month.
He was a guest of Abramovich at the Bridge on December 19 for the club’s Premier League win over Sunderland.
Drogba and Hiddink then met and spoke with some of the Chelsea players in the dressing room afterwards.
Montreal Impact had been desperate to hold on to him after his 11 goals in11 regular-season matches and his efforts helping the club into the MLS playoffs.
But Abramovich feels his leadership will be key and there are suggestions that Drogba could even be groomed as a future boss.
