Nation
VAT Bill Scales Second Reading At Ogun Assembly
A bill for a law to impose and charge Value Added Tax (VAT) on certain goods and services, provide for administration of the tax and for related purposes yesterday scaled second reading at Ogun State House of Assembly.
Clerk of the Assembly, Mr Deji Adeyemo, read the bill for the first time during plenary session in Abeokuta, while the Majority Leader, Mr Yusuf Sherif, moved the motion for the second reading which was seconded by Mr Ganiyu Oyedeji.
While opening debate on the bill, Mr Olakunle Sobukanla, the Chairman, House Committee on Finance and Appropriation, noted that the bill was an avenue for the state to generate more revenue for its development.
Sobukanla added that the more internally generated revenue by the state, the more infrastructure development in all sectors of the state.
In his submission, Oyedeji explained that collection of VAT would allow the state to generate more revenue and meet needs of the people.
The lawmaker stated that the people’s needs included fixing of bad roads and the construction of new ones, provision of healthcare facilities among others, which all required finance.
Other lawmakers who spoke supported the quick passage of the bill, saying that it would boost the socio-economic development of the state.
They noted that passage of the bill would be a financial restructuring and a form of redistribution of internally generated revenue.
In his response, Mr Olakunle Oluomo, the Speaker of the house, commended the lawmakers for the deliberation, adding that the VAT law was needed in the state for more economic development.
The speaker committed the bill to the House Committee on Finance and Appropriation for further legislative actions.
Also during yesterday plenary, the Ogun State Anti-Corruption Law 2021, scaled first reading.
Nation
REAN, SON synergise to curb fake renewable energy product
Nation
Self Help Africa programme expands water access for 320,000 Nigerians
Nation
Lagos Residents Stranded As Floods Cut Off Ajah, Mafoluku Communities
-
Rivers2 days ago
Rivers Police Uncovers Firearm Concealed In Loaf Of Bread
-
Niger Delta2 days agoPro-Chancellor Hands Over Okey Onuchuku Peace, Conflict Institute Building
-
Sports2 days ago
Six Nigerians To Play For NBA Teams
-
News2 days agoFubara Reaffirms Commitment To Blue Economy, Private Sector Growth …Calls For Protection Of Marine Resources
-
Business2 days ago
Gas Economy: Decade of Gas, Pi-CNG/ EV Deepen Media Engagement
-
Business2 days agoIPMAN Raises Concern Over Delay In Chinese Refinery Deal …Predicts Lower Fuel Prices Through Competition
-
Sports2 days ago
NPFL Warns Newly Promoted Clubs
-
Politics2 days agoSenate Defends Passage Of State Police Bill
