Queue at the filing station The President, Petroleum Products Retailers Owners of Nigeria( PETROAN), Dr Billy Gills Harry, says the reduction of the product, by the Nigerian National Petroleum Company Limited( NNPCL) is good for the nation'struggling economy, as it would help in soften the difficult situations posed by the sharp rise in the price of petroleum products. While reacting to the issue through a statement issued and signed to the NEWSMIRROR yesterday, Harry said that the slight reversal of the price by NNPCL shows that the government is committed to the alleviation of the problems of the masses. According to him, the reduction in the price per litre of Petrol Motoring Spirit( PMS) from N1,020 per litre to N899 per litre is good, adding that the country will soon get over its problem, if the readjustment of the economy continues. Also, PETROAN's Public Relation Officer, Dr Joseph Obele said that Dangote Petroleum Refinery had earlier started the r...
(By Favour Ifeoluwa & Akinola Ajibade)
Members House of Representatives Southern Caucus, yesterday (Tuesday) expressed support for President Bola Tinubu's Tax Reform Bills.
The lawmakers briefed journalists after a meeting at the residence of the Deputy Speaker, Benjamin Kalu.
According to them, the tax reform bill is a welcome development for the country, adding that it will give the bill the necessary support it needed in order to improve the tax system in the country
Speaking on the issue, the caucus chairman, Nicholas Mutu, said the lawmakers will consult widely over the controversial clauses to ensure all stakeholders are carried along.
Regarding key northern leaders’ opposition to the bill, the Southern Caucus stated that it would continue to meet with its counterparts from the north to find a middle ground on all contentious issues.
The four executive bills transmitted to the National Assembly by President Tinubu on September 3 were the subject of heated verbal exchanges among lawmakers in the Green Chamber at a closed-door session a fortnight ago.
Recall that the bills were transmitted to the National Assembly, following the recommendations of the Presidential Committee on Fiscal and Tax Reforms headed by Taiwo Oyedele for the review of existing tax laws.
They include the Nigeria Tax Bill 2024, which is expected to provide the fiscal framework for taxation in the country, and the Tax Administration Bill, which will give a clear and concise legal framework for all taxes in the country and reduce disputes.
Others are the Nigeria Revenue Service Establishment Bill, which will repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service, and the Joint Revenue Board Establishment Bill, which will create a tax tribunal and a tax ombudsman.
Since the President’s transmission to the parliament, the bills have been greeted with stiff opposition, particularly from the 36 state governors, who in October called for their withdrawal to allow room for more consultation.
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