questions from newsmen at a press briefing after a meeting of the Federal Executive Council (FEC) presided over by President Muhammadu Buhari, the Minister of Information and Culture, Alhaji Layi Mohammed, disclosed that the over N500 billion that was recently paid by government to oil marketers as subsidy claim was part of the backlog owed them since August last year by the immediate past administration. Accordingly, Mohammed declared that Nigerians were merely paying for the sins committed by the Jonathan administration. The Information Minister who was joined at the briefing by his Budget and Planning counterpart, Udoma Udo Udoma,
The Information Minister who was joined at the briefing by his Budget and Planning counterpart, Udoma Udo Udoma, said however, that the situation was already showing improvement as the Nigerian National Petroleum Corporation had taken full charge of fuel importation and had shipped in enough quantity to arrest the perennial scarcity. According to him, the only issue being tackled at the moment was distribution of the product, saying that the securing of Mosinmi pipeline a few days back kad put paid to the problem. He said: “What I will be telling Nigerians is that what we met on
He said: “What I will be telling Nigerians is that what we met on ground is such that we are paying for the sins of the last administration. “I am being very serious. You remember that about two weeks ago, we had to go to the National Assembly for a supplementary budget of N674 billion. Of that figure, N522 billion was for arrears of fuel subsidy which was incurred as far back as August last year. “One of the reasons for the fuel scarcity was the inability of the last government to make adequate provision for fuel subsidy. We do face some other logistic problems but majorly we are paying for the sins of the last administration.
“The solution is what you have seen us doing. The first thing we have done now is to make sure that unlike before when the marketers used to import the major percentage of the fuel. NNPC has been involved in importation, because some of the marketers had stopped importing for a couple of months. “If you see any fuel anywhere today, it is imported by the NNPC. “We also inherited the vandalisation of the pipelines which has made it impossible for us to even transport the fuel. In tanks today we have 14 days reserve and off tank we have 10 days reserve. The issue is not nonavailability of the product it is the distribution, because of pipelines that have been vandalised and the gridlock in Lagos. It takes about 5 days for anybody to take fuel with tanker in Lagos. “As at two days ago this matter has been resolved. The Mosinmi pipeline has been secured and it has led to the improvement in the distribution.”
On what transpired at the FEC meeting which was the second after its inauguration in Novemebr, the Information and Culture Minister disclosed that two major memos were presented at the meeting. “The first was the memo by the Attorney General, Abubakar Malami, for a review of the extant taxation laws in order to improve the legal framework and enhance compliance. This was duly approved. “The second memo was the memo presented by the Minister of Budget and National Planing , seeking for approval of the 2016 budget which was also approved. “As you know the President would be presenting the budget before the national assembly tomorrow (today) morning.” He explained further: “we have noticed some inadequacies in the current tax regime and that these inadequacies have been exploited by both individuals and corporate organisations to evade tax which has led to lose of revenue to the government. The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give
Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
He explained further: “we have noticed some inadequacies in the current tax regime and that these inadequacies have been exploited by both individuals and corporate organisations to evade tax which has led to lose of revenue to the government. The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
On what transpired at the FEC meeting which was the second after its inauguration in Novemebr, the Information and Culture Minister disclosed that two major memos were presented at the meeting. “The first was the memo by the Attorney General, Abubakar Malami, for a review of the extant taxation laws in order to improve the legal framework and enhance compliance. This was duly approved. “The second memo was the memo presented by the Minister of Budget and National Planing , seeking for approval of the 2016 budget which was also approved. “As you know the President would be presenting the budget before the national assembly tomorrow (today) morning.” He explained further: “we have noticed some inadequacies in the current tax regime and that these inadequacies have been exploited by both individuals and corporate organisations to evade tax which has led to lose of revenue to the government. The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give
The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
“We also inherited the vandalisation of the pipelines which has made it impossible for us to even transport the fuel. In tanks today we have 14 days reserve and off tank we have 10 days reserve. The issue is not nonavailability of the product it is the distribution, because of pipelines that have been vandalised and the gridlock in Lagos. It takes about 5 days for anybody to take fuel with tanker in Lagos. “As at two days ago this matter has been resolved. The Mosinmi pipeline has been secured and it has led to the improvement in the distribution.” On what transpired at the FEC meeting which was the second after its inauguration in Novemebr, the Information and Culture Minister disclosed that two major memos were presented at the meeting. “The first was the memo by the Attorney General, Abubakar Malami, for a review of the extant taxation laws in order to improve the legal framework and enhance compliance. This was duly approved. “The second memo was the memo presented by the Minister of Budget and National Planing , seeking for approval of the 2016 budget which was also approved. “As you know the President would be presenting the budget before the national assembly tomorrow (today) morning.” He explained further: “we have noticed some inadequacies in the current tax regime and that these inadequacies have been exploited by both individuals and corporate organisations to evade tax which has led to lose of revenue to the government. The review aims at plugging these loopholes”
Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
On what transpired at the FEC meeting which was the second after its inauguration in Novemebr, the Information and Culture Minister disclosed that two major memos were presented at the meeting. “The first was the memo by the Attorney General, Abubakar Malami, for a review of the extant taxation laws in order to improve the legal framework and enhance compliance. This was duly approved. “The second memo was the memo presented by the Minister of Budget and National Planing , seeking for approval of the 2016 budget which was also approved. “As you know the President would be presenting the budget before the national assembly tomorrow (today) morning.” He explained further: “we have noticed some inadequacies in the current tax regime and that these inadequacies have been exploited by both individuals and corporate organisations to evade tax which has led to lose of revenue to the government. The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
“The first was the memo by the Attorney General, Abubakar Malami, for a review of the extant taxation laws in order to improve the legal framework and enhance compliance. This was duly approved. “The second memo was the memo presented by the Minister of Budget and National Planing , seeking for approval of the 2016 budget which was also approved. “As you know the President would be presenting the budget before the national assembly tomorrow (today) morning.” He explained further: “we have noticed some inadequacies in the current tax regime and that these inadequacies have been exploited by both individuals and corporate organisations to evade tax which has led to lose of revenue to the government. The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
This was duly approved. “The second memo was the memo presented by the Minister of Budget and National Planing , seeking for approval of the 2016 budget which was also approved. “As you know the President would be presenting the budget before the national assembly tomorrow (today) morning.” He explained further: “we have noticed some inadequacies in the current tax regime and that these inadequacies have been exploited by both individuals and corporate organisations to evade tax which has led to lose of revenue to the government. The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
He explained further: “we have noticed some inadequacies in the current tax regime and that these inadequacies have been exploited by both individuals and corporate organisations to evade tax which has led to lose of revenue to the government. The review aims at plugging these loopholes” Answering questions at the briefing also, Udoma explained that the memo on taxation law was basically looking at the policies behind the taxation laws to see whether any of them needed to be strengthened. “It is a review to see whether there are any gaps,” he stated. Asked whether the laws would give reprieve to low income earners, Udoma responded, “ It is a little premature to talk about what exactly the reviews are, am sure they would be consulting very widely and definitely any review will not aim at those who can’t afford it. It would be aimed more at the affluent rather than the poor.”
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