Business
Bayelsa Demands 50% Derivation Fund
The Bayelsa State Gov
ernment has asked for a minimum of 50 per cent revenue derivation, as the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC) rounds off its public hearing on the review of the existing revenue allocation formula in the six geo-political zones.
A statement from the state quoted the Secretary to the State Government, Professor Edmund Allison-Oguru, who represented Governor Seriake Dickson at the session, as saying that the demand for upward review of revenue allocation became imperative, highlighting the environmental challenges arising from exploration activities of the multinational oil companies in the region.
Lamenting the level of environmental degradation occasioned by oil exploration and exploitation activities in the Niger Delta, Allison-Oguru quoted the governor as pointing out that the current 13 per cent derivation principle was grossly inadequate to address the challenges confronting the region.
Calling for a reduction of money accruing to the Federal Government from the Federation Account, the governor submitted that such reduction would discourage the struggle for political power at the national level and enhance the capacity of the state and local governments to accelerate development and make life more meaningful for the people at the grassroots.
He said, “The enormous resources at the centre have fostered a do-or-die mentality among the political elite of this country, most of who go to the extreme to achieve their political ambitions to control the centre.
“States favoured by the principle of revenue sharing such as population and landmass have grown steadily dependent on allocation from the federation account and have lost initiative and drive in matters of economic planning and revenue generation.”
As a result, Dickson called on the commission to come up with a more acceptable and equitable revenue formula just as he urged the National Assembly to expedite action on the passage of the Petroleum Industry Bill into law.
The governor said, “The RMAFC should revisit the era of 100 per cent, 50 per cent or 30 per cent derivation formula to reflect true federalism. It is a well known fact that the exploration of oil in the Niger Delta region has not only exploited the people of the area but also made the area toxic resulting into massive pollution of the environment.”
Business
NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products
Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.
The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.
The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.
“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.
NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.
