Business

FG To Energise Telecom Sector Through Legislations –Shittu

Published

10 years ago

August 26, 2016

The Minister of Communications, Mr Adebayo Shittu, has reiterated the Federal Government’s determination to provide the needed enabling environment for ICT and telecommunication sector to thrive through enactment of relevant legislations.

This information is contained in a statement issued in Abuja by the Special Assistant on Media to the minister, Mr Victor Oluwadamilare.

The statement quoted the minister as saying this at the Communication Services Tax Stakeholders’ Meeting organised by the Lagos Chambers of Commerce and Industry in Lagos.

The minister called on stakeholders in the communications sector to have holistic deliberations on the communication services tax as being proposed in the Communication Tax Bill pending before the National Assembly.

“This is necessary in order to weigh the effects of the proposed tax regime on the government, stakeholders as well as end users of communication services.”

He called for a juxtaposition of new tax regime with existing ones, saying that the introduction of new taxes without harmonising existing ones will put pressure on the Nigerian tax system, thereby making it unattractive to investors and consequently be counter-productive in the long run for the nation’s targets on broadband penetration.’’

The minister speaking extensively on controversies surrounding the proposed bill, said a section of the stakeholders had extrapolated that the Bill sought to impose additional nine per cent charges on users of electronic communication services “which is to be remitted to the Federal Inland Revenue Service on monthly basis, more so that the extra tax will be applied on voice calls, SMS, MMS, Data and Pay TV viewing, among other services.

“Others have posited that over 60 million Nigerians will be unable to afford basic broadband connection, a situation that is likely to threaten Nigeria’s ability to achieve its goal of 30 per cent broadband penetration by 2018.

“And also undermine the socio-economic progress spurred by increased connectivity. This to a large extent will be a cog in the wheel of implementing the National Broadband plan,’’ he said.

Shittu said that many had also concluded that the proposed bill would also discourage further investment in the communication industry due to reduced returns on Investment, and ultimately drastically reduce the sector’s huge contributions to the national GDP.

According to him, some have concluded that the proposed CST Bill is an ill wind that will blow the country no good.

“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 and creating an effective framework for tax compliance.

“To protect the poor and vulnerable in the society who nonetheless have to use telecom services for social inclusion and financial services among others.

“The ITU gave Nigerian the mandate to achieve 30 per cent broadband penetration by 2018.

as 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 in funding our budget deficits? I must be quick to say that this government has got a human face twined around its decisions.”

The minister said that the goal of the ministry was to provide cost effective ubiquitous ICT access for overall national development.

Shittu added that the solutions were the passage of the critical National ICT Sector Infrastructure Bill.

“Hastening of the rollout of metro fibre networks, use of NIGCOMSAT Satellites to bridge the rural penetration gap and hosting of critical National Data within the country.’’

The minister said that the proposed National ICT Roadmap was poised to set out the intent and commitment of the government to continue the development of the ICT sector.

He said that the roadmap would also implement the sector policies and plans in an integrated, focused and innovative manner that aligned with the change mantra of the current administration.

He added that the roadmap focuses on five strategic pillars namely- governance, policy, legal and Regulatory framework, industry and infrastructure and capacity building.

Business

Boat Mishap Kills Pastor, Wife And Church Members In Brass Water

Published

3 days ago

May 18, 2026

The Tide

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways

The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.

?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered

as search party are still ongoing.

Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.

The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit

The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident

By: CHINEDU WOSU

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

3 days ago

May 18, 2026

The Tide

The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.

Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.

Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.

He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.

According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.

He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.

“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.

Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.

The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.

He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.

Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.

The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.

He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.

Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.

By: King Onunwor

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

1 week ago

May 13, 2026

The Tide

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.

Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.

According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.

Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.

“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.

The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.

According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.

Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.

He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.

“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.

He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.

“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.

Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.

“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.

“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.

Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.

She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.

Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).

“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.

“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.