Business

FG To Consult Extensively On Consumer Service Tax Bill – Shittu

Published

9 years ago

August 22, 2016

The Minister of Communi
cation, Mr Adebayo Shittu, has said that the federal government will consult extensively with the private sector on the controversy surrounding the Communication Service Tax bill.
Shittu said this on Wednesday in Lagos during a stakeholder’s meeting on Communication Services Tax, organised by the Lagos Chamber of Commerce and Industry (LCCI).
The Tide source reports that the Communication Service Tax Bill, which is before the National Assembly, seeks to levy nine per cent on subscribers for the use of the various communication services.
The services include voice call, SMS, MMS, Data usage from telecommunication service providers, internet service providers and Pay TV Stations.
According to the minister, the outcome of deliberations on the bill would form the basis of his advice to the President.
He noted that introduction of new taxes without harmonising existing ones would put pressure on the country’s tax system thereby making it unattractive to investors.
“This may also be counter-productive in the long run for our targets on broadband penetration.
“ Our ICT Roadmap gives fresh impetus for implementing existing policies and reviewing any that is inimical to the growth of the sector.
“My focus on any tax regime will be to align any process that will stimulate the economy and also ensure that the tax system is efficient by widening the tax net.
“It is also to create an effective framework for tax compliance to protect the poor and vulnerable in the society, who nonetheless have to use telecoms services for social inclusion and financial services.”
He said that the government’s efforts at increasing its revenue made the bill worthy of consideration.
“I have been reliably informed that the projected earnings from this effort is over N20 billion every month, which is an attraction to the government for funding our budget deficits.
“I must be quick to say that this government has a human face twined around its decisions,” Shittu said.
The minister said that the government would provide an enabling environment for the ICT and telecommunication sector to thrive through the enactment of relevant legislation.
Mrs Nike Akande, President of LCCI called for a friendly tax environment especially in view of the difficult business environment.
“We know that the government is seeking to diversify its revenue base in the light of dwindling oil revenue.
“But it is also true that the private sector players will like to see an investment friendly tax environment, especially in the light of the prevailing high cost of doing business in the country. It is important to balance these two positions.”
Mr Bimbo Atilola, Chairman, LCCI Taxation and Commercial Law Committee said that the bill negated the principle of neutrality in taxation, as it would affect consumers’ behaviour through reduced spending.
He appealed that the passage of the bill be suspended to allow for rapid growth of the telecoms sector, in line with the Nigerian National Broadband Plan.
“If the bill must be passed into law, NASS should make the telecoms sector exempted under VAT Act and the rate reduced from nine per cent to five per cent.
“There is a need to protect the ultimate interest of the final consumers of the service,” Atilola said.
Mr Taiwo Oyedele, Partner, PriceWaterCoopers said that the N20 billion monthly projected revenue from the bill was unrealistic and based on assumption.
According to him, increased taxation will reduce the consumption pattern of consumers, lower investment in the sector, thereby translating to reduced revenue.
Mr Teniola Olusola, President, Association of Telecommunications Companies of Nigeria (ATCON) said that their members were overburdened with multiple taxation.
He urged the government to discontinue the bill, adding that it would reduce inflow of FDI into the sector, reduce subscribers level of data consumption and affect contribution of the sector to GDP.
Engr Gbenga Adebayo, President, Association of Licensed Telecommunication Operators of Nigeria (ALTON) said that the bill if passed into law would retard the growth of the sector.

Business

Agency Gives Insight Into Its Inspection, Monitoring Operations

Published

1 week ago

January 12, 2026

The Tide

The Director, South South Zone National Agency for Food Drug Administration and Control (NAFDAC), Pharmacist Chujwuma P.Oligbu has said its thorough implementation of its core mandate of monitoring has no link with witch-hunting or fault finding as perceived at some quarters.

Oligbu, made this known when he spoke as as guest at the maiden Rivers state Supermarkets stakeholders’ Seminar/Workshop in Port Harcourt recently.

Rather, he said they were mere opportunities for education, correction and continuous improvement.

The Agency’s South South Boss, noted that Supermarket operators who maintain transparent records, cooperate during inspections, and promptly address identified gaps demonstrate professionalism and commitment to public health standard.

He listed the deserving essence of supermarket operation to include the key aspects of supermarket operation that deserves emphasis is product sourcing.

“Supermarkets must ensure that all regulated products stocked on their shelves are duly registered with NAFDAC and sourced from legitimate manufacturers or distributors”, he said .

According to him, the presence of unregistered, expired, counterfeit, or improper labelled products undermines consumer confidence and poses serious health risks.

He pointed out that such has the likelihood of exposeing supermarket operators to legal sanctions that could damage their reputation and financial stability.

The NAFDAC Operator, further enlightened the participants that mere registration of a particular product with the Federal agency do not guarantee absolute consumption safety.

“Temperature control, cleanliness, pest control, stock rotation, and proper shelving are not optional practice; they are essential components of compliance”, he said.

The South South zonal director also told the operators of supermarket that their employees rotine training on the basis of the product they display for sale is of utmost importance.

In her presentation a Breast Milk Nutrition Expert , Professor Alice Nte of University of Port Harcourt Teaching Hospital (UPTH), was against the body’s prime attention to breast milk substitute or baby milk in supermarkets as well as its advertisement or promotion.

Nye jerked up the importance of mothers breast milk to the newborn baby and added that it help in fighting against childhood diseases, infections and combating cancer in breastfeeding mothers.

Meanwhile, NAFDAC Deputy Director, South – South Zone , Mrs. Riter Chujwuma educated the participants on the guidelines for global listing, and the need to adhere strictly to rules guiding global listing to avoid confiscation of their imported products.

By: King Onunwor

Business

BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS

Published

1 week ago

January 12, 2026

The Tide

The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.

In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.

According to the data, more than 4.3 million new BVNs were issued within the one-year period, underscoring the growing adoption of biometric identification as a prerequisite for accessing financial services in Nigeria.

NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.

Analysts linked the growth largely to regulatory measures by the CBN, particularly the directive to restrict or freeze bank accounts without both a BVN and National Identification Number (NIN), which took effect from April 2024.

The policy compelled many customers to regularise their biometric records to retain access to banking services.

Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.

The programme has been widely regarded as a milestone in integrating the diaspora into Nigeria’s formal financial system.

A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.

However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.

The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.

Business

AFAN Unveils Plans To Boost Food Production In 2026

Published

2 weeks ago

January 9, 2026

The Tide

The leadership of the All Farmers Association of Nigeria (AFAN) has set the tone for the new year with a renewed focus on food security, unity and long-term growth of the agricultural sector.

The association announced that its General Assembly of Farmers Congress will take place from January 15 to 17, 2026 at the Abuja Chamber of Commerce and Industries, along Lugbe Airport Road, in the Federal Capital Territory.

The gathering is expected to bring together farmers, policymakers, investors and development partners to shape a fresh direction for Nigerian agriculture.

In a New Year address to members and stakeholders, AFAN president, Dr Farouk Rabiu Mudi, said the congress would provide a strategic forum for reviewing past challenges and outlining practical solutions for the future.

He explained that the event would serve as a rallying point for innovation, collaboration and economic renewal within the sector.

Mudi commended farmers across the country for their determination and hard work, despite years of insecurity, climate-related pressures and economic uncertainty.

According to him, their resilience has kept food production alive and positioned agriculture as a stabilising force in the national economy.

He noted that AFAN intends to build on this strength by resetting agribusiness operations to improve productivity and sustainability.

The AFAN leader appealed to government institutions, private investors and development organisations to deepen their engagement with the association.

He stressed the need for collective action to confront persistent issues such as insecurity in farming communities, climate impacts and market instability.

He also urged members to put aside internal disputes and personal interests, encouraging cooperation and shared responsibility in pursuit of national development.

Mudi outlined key priorities that include increasing food output, expanding support for farmers at the grassroots and strengthening local manufacturing through partnerships with both domestic and international investors adding that reducing dependence on imports remains critical to protecting the economy and creating jobs.

He stated that the upcoming congress will feature the launch of AFAN’s twenty-five-year agricultural mechanisation roadmap, alongside the announcement of new partnerships designed to accelerate growth across the value chain.

Participants, he said wi also have opportunities for networking and knowledge exchange aimed at transforming agriculture into a more competitive and technology-driven sector.

As part of its modernisation drive, AFAN is further encouraging members nationwide to enrol for the newly introduced Digital ID Card.

Mudi said the initiative will improve transparency, ensure proper farmer identification and make it easier to access support programmes and services.

Reaffirming the association’s long-term goal, he said the vision of national food sufficiency by 2030 remains achievable if unity and collaboration are sustained.

He expressed optimism that with collective effort, Nigeria’s agricultural sector can overcome its challenges and deliver a more secure and prosperous future.

Lady Usendi