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Lagos LGs, Councils seek 50:50 Sharing Formula With Govt In New VAT Bill

VAT bill

Lagos LGs, Councils seek 50:50 sharing formula with govt in new VAT bill

The Conference of 57 Local Governments and Local Council Development Areas (LCDAs) in Lagos State has requested an equal sharing formula with the state in the proposed Value Added Tax (VAT) bill before the state House of Assembly.

The Secretary of the Conference 57, and Chairman of Odi-Olowo/Ojuwoye LCDA, Abdulrasak Ajala, made the request at a one-day public hearing on the bill organised by the Lagos Assembly on Wednesday.

The title of the bill is “A Bill for a Law to impose and charge Value Added Tax (VAT) on certain foods and services, provided for the administration of the tax and for related matters”.

Ajala explained that for the councils to pursue meaningful development, they required a better sharing formula for its members in the proposed VAT law.

The conference 57 secretary said they were requesting for a 50-50 sharing formula, contrary to the 75-25 proposed in the bill in favour of the state government.

Ajala explained that the councils, who also host the companies, should benefit from a better share than the 25 per cent in the bill since they are the closest to the grassroots.

The council chairman commended the 9th Assembly for the bill, as well as the synergy between the Executive and the Legislature.

“On the distribution of revenue, you will agree with me, Value Added Tax is on consumption and production, and all these economic activities are domiciled in our respective communities.

“In addition, local governments, being the closest to the grassroots, need more revenues given the enormity of the responsibilities the Constitution confers on us.

“Hence, the 25 per cent in the bill is grossly inadequate for local governments to execute all the promises we made to our people; and of course all our electoral promises.

“This is the reason we are making a passionate appeal, on behalf of Conference 57, that we should raise the bar higher, from 25 per cent to 50 per cent,” Ajala said.

In his statement, the Chairman, House Committee on Finance, Rotimi Olowo, insisted that it would make no sense if all monies accruable to Lagos state was taken by the Federal Government.

Olowo argued that given the pressures on the state governments in terms of infrastructure development, the proposed law on VAT in the state would bring about holistic development of the state.

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Osun LP Guber Candidate, Lasun Rejoins PDP

Yusuf Lasun, a former deputy speaker of the house of representatives, has rejoined the Peoples Democratic Party (PDP).

The governor of Osun, Ademola Adeleke made the announcement on Wednesday at the PDP presidential rally in Osogbo, the Osun capital.

“The former deputy speaker has joined the PDP family. He used to be in PDP, but today, he has decided to come and join the PDP family,” the governor said.

Lasun, who was present at the rally, hailed supporters after a terse remark.

Lasun had contested the 2022 governorship election in Osun on the platform of the Labour Party (LP).

Adeleke came first in the election; Gboyega Oyetola of the APC placed second; Kehinde Atanda of the Action Democratic Party (ADP) came third; while Lasun came a distant fourth.

He was a member of the All Progressives Congress (APC) until February when he resigned from the party after losing the party’s governorship ticket.

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I Can’t Contest For President Again; It Will Diminish Me- Jonathan

Goodluck Jonathan, Nigeria’s former president, has said he will never contest for the Presidency of the country again.

The Ex-president said it would amount to diminishing himself if he should decide to begin to lobby people and campaign for election again.

Jonathan said this in an interview published in a book, ‘My Time As Chaplain In Aso Rock,” presented to the public on Tuesday.

The book written by Nathaniel Bivan contains the accounts of the Chaplain of the Aso Rock Villa Chapel during the Jonathan administration, Obioma Onwuzurumba.

“If you wake up tomorrow and see that I am President again, that means there may have been circumstances beyond my control. But not to go and pick one form and go and start lobbying people and running for campaigns; I can’t do that again. If I do that, I will diminish myself,” the former President said.

Jonathan said he enjoyed the drama that characterised the rumour earlier in the year that he had purchased a nomination form of the All Progressives Congress to enable him to contest for the party’s presidential ticket.

Ahead of the June 2022 APC presidential primary, a group, Nomadic Pastoralists and Almajirai Community, led by Ibrahim Abdullahi, purchased the N100m nomination and expression of interest forms in Jonathan’s name.

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NMDPRA Assures Nigerians Of Steady Fuel Supply

The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the queues at filling stations will soon disappear as marketers commence massive loading of petroleum products.

Mr Ahmed Farouk, Chief Executive of NMDPRA, gave the assurance during a stock monitoring exercise within depots in Lagos on Wednesday.

The NMDPRA boss led staff of the Authority to NIPCO, Total, Aiteo, OVH, Conoil, 11 Plc and HOGL depots in Apapa for on the spot assessment.

Farouk said the stock taking exercise was to ensure availability and effective distribution of petroleum products across the nation to reduce queues at filling stations.

“The essence of this exercise is to ensure that the entire states are wet with petroleum products to avoid scarcity and panic buying by commuters during this period.

“As an Authority, we are doing everything within our powers to make sure that there are enough petroleum products in the system to help alleviate the sufferings of commuters.

“With the issue of scarcity across the nation, l found it necessary that NMDPRA come and ensure that there is even distribution of petroleum products across the nation, especially petrol.

“I am comfortable with the the load-out of petrol across the depots.

“The current distribution of petrol across the nation will address the issue of tightness in the market,” he said.

The NMDPRA boss said all depots in Apapa had products and were loading massively to Lagos, Abuja, Port Harcourt and other states.

He said three vessels were also discharging petrol at Apapa jetty to MOMAN, DAPPMAN and other depots.

Farouk urged Nigerians not to panic and avoid panic buying, while assuring of availability of sufficient products at filling stations across the country.

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