News

TETFUND Commends FIRS Over Increase In Education Tax

Published

3 years ago

November 14, 2022

The Tertiary Education Trust Fund(TETFUND) has commended the management of Federal Inland Revenue Services(FIRS) for its increase in education tax collection.
The Executive Secretary, TETFUND, Sonny Echono, made the commendation at the TETFUND/FIRS Annual Interactive Forum held in Port Harcourt, last Thursday.
Represented by the Director, Strategic Planning and Development, Erivwo Irene, Echono said that the 2022 interactive forum with the them, ‘Boosting Education Tax Collection for the Growth and Advancement of Tertiary Education in Nigeria is a noble cause between the agencies that have fostered the cause of tertiary education.
Echono said “TETFUND duly recognises the immense contribution of your mandate as the foremost and critical Revenue Service of the Federal Government from which we as a funding agency of the same government derive our intervention and operational funds”.
Echono who pledged to be committed to the mandate of the agency assured transparency and accountability to the government, citizens and stakeholders with FIRS as top on the scale of stakeholders.
“We will therefore continue to encourage this annual interactive forum with the FIRS which has been a veritable platform to discuss issues that are pertinent to the Education Tax (EDT) collection and also showcase the activities and impact of the EDT collection in the tertiary education landscape of the nation.
“Indeed,the need to boost “Education Tax (EDT) collection”, especially at this economically challenging period can never be overemphasized.
“This is in view of the pivotal role it plays in the nation’s educational system as deployed by the Fund and is one of the many vital reasons this Interactive Forum is highly
essential in the general operations of the fund,”Echono said.
He noted that tax collections have direct correlation to earnings and subsequently, the growth of any functional economic system adding that the growth of education tax which forms the bedrock of TETFund’s vision and mission in the nation’s education was one that was consistently on the front burner.
“This explains my earlier excitement and hope of an
improved revenue generation ultimately attaining a 500 billion naira yearly EDT collection.

“This optimism can be situated in the consistent position of President Muhammadu Buhari when he stated that, “we do not have a debt sustainability problem, but a revenue challenge which we are determined to tackle to ensure
our debts remain sustainable,”he said.

In his remark,the Executive Chairman, FIRS, Muhammad Nami, commended the efforts of the Board of Trustees and Management of TETFund for being steadfast in the organisation of the annual forum.

Represented by the FIRS Coordinator for Rivers, Delta and Edo, Hamisu Mohammed, Nami stated that FIRS had continued to make progress in revenue mobilization despite the economic headwinds from the negative consequences of covid 19, rising insecurity and effects of the Russia-Ukraine war on the global economy.
According to him, between January and September 2022, FIRS has collected N7.5trillion which is a significant improvement on the total collection of N6.4trillion for the entire 2021.

“Non-oil taxes accounted for N4.3trillion while Petroleum Profits Tax accounted for N3.1trillion, It is clear that the reforms undertaken since 2020 have started yield

News

Tinubu Commissions Bayelsa Gas Turbine, Other Projects Today

Published

28 minutes ago

April 10, 2026

The Tide

President Bola Tinubu is expected to inaugurate four legacy projects, including a state-owned gas turbine, during a one-day state visit to Bayelsa State, today.

To this effect, the Bayelsa State Government has declared Friday (today) a work-free day, and ordered the closure of markets ahead of the President’s visit.

The state Commissioner for Information, Orientation and Strategy, Ebiuwou Koku-Obiyai, disclosed this yesterday in Yenagoa, the state capital.

She said, “As we all know that the state is ready and we are ready as a people to receive the father of the nation, our father and leader in the President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria, President Bola Ahmed Tinubu, GCFR, who will be in the state on a one-day visit to inaugurate four legacy projects.

“In view of this, the state government has declared tomorrow, Friday, April 10, 2026, a work-free day to enable workers and other residents of the State to participate in the programmes lined up for the one-day official visit to Bayelsa State.”

According to her, Tinubu is expected to inaugurate key projects during the visit, including a state-owned gas turbine at Opolo-Elebele, a 60-kilometre dual carriageway from Onopa to the LNG axis, and a 630-metre bridge linking Angiama to Oporoma in Southern Ijaw Local Government Area.

Koku-Obiyai urged residents, including traders, to comply with the directive and turn out to welcome the President.

The government said the measures were part of efforts to ensure a smooth and successful visit.

The Tide reports that Bayelsa is the third state President Tinubu will visit for project commissioning in the last one week.

The President was in Ogun State last Saturday to commission the Gateway International Agro-Cargo Airport, Iperu, together with the state’s new airline, Gateway Airline, and its two newly acquired aircraft.

He also inaugurated logistics and trade infrastructure, and launched the Nigeria Customs Service’s N73bn hub that has a residential barracks, training college, warehouse and hospital.

The president also launched mobility, security and agriculture assets, including 1,000 electric motorcycles (EV bikes), and 80 units of security vehicles.

Tinubu was also in Lagos on Wednesday on a two-day state visit to commission key legacy projects of the Governor Babajide Sanwo-Olu administration.

Though represented by the Senate President, Senator Godswill Akpabio, the president inaugurated the newly constructed Ojota-Opebi Link Bridge, Lagos State Geographic Information Service (LAGIS) building, and Lagos Multi-Agency Building in Alausa.

Other notable projects commissioned by the President were Lagos Fresh Food Hub in Abijo, Ajah, Tolu Schools Complex in Ajegunle, and Maracana Stadium, comprising 19 mini-football pitches, built side-by-side in Ajegunle.

News

RSG Seeks Horticulturists’ Partnership To Restore Garden City Status

Published

1 hour ago

April 10, 2026

The Tide

The Rivers State Government has called for stronger collaboration with horticulturists as part of renewed efforts to restore the aesthetic appeal and environmental quality of Port Harcourt, in line with its urban renewal agenda.

The Commissioner for Urban Development, Sir Amairagha Edward Hart, made the call during an interactive session with private horticulturists and flower dealers at his office in Port Harcourt, recently.

He said the present administration remains committed to reviving the famed Garden City status of the state capital through deliberate policies and strategic partnerships, noting that professionals in horticulture have a key role to play in achieving that vision.

The Commissioner stressed that the state government is placing high premium on environmental sustainability, beautification of public spaces, and the creation of a serene urban atmosphere that reflects global best practices.

The Commissioner urged horticulturists to align their operations with government’s urban development guidelines, adding that their expertise and experience are essential in transforming Port Harcourt into a model city.

According to him, the collaboration will not only enhance the city’s visual appeal but also contribute to improved environmental health and economic opportunities for practitioners in the sector.

He, however, cautioned against practices that undermine urban order, particularly the obstruction of walkways and indiscriminate occupation of public spaces meant for other uses.

Hart emphasized that while the government encourages business growth, such activities must be carried out in a manner that supports urban planning objectives and promotes public convenience.

In a move to further support the sector, he disclosed plans by the Ministry to establish a dedicated “Flower Village” that will serve as a central hub for horticulturists and flower dealers across the state capital.

He explained that the proposed initiative is aimed at restoring sanity to the use of walkways and road corridors, while also creating a structured environment that will enhance business operations and boost revenue generation.

Responding on behalf of the practitioners, Evang. Caroline Nabo highlighted some of the challenges faced by horticulturists, including theft of plants and materials by scavengers and scrap metal dealers.

She appealed to the state government for intervention to safeguard their investments, even as she and other stakeholders commended the Ministry’s proactive steps and pledged their support towards the successful greening and beautification of Port Harcourt.

King Onunwor

News

TUC Demands Subsidy To Cushion Rising Fuel Prices

Published

2 hours ago

April 10, 2026

The Tide

The Trade Union Congress of Nigeria (TUC ) has called on the Federal Government to deploy excess crude oil revenue to subsidise local refineries as a way of cushioning the impact of rising fuel prices on Nigerians.

President of the Congress, Festus Osifo, who made the call during a press briefing in Abuja, yesterday, warned that the price of Premium Motor Spirit could climb to as high as N2,000 per litre if urgent measures are not taken.

Osifo said the persistent increase in the pump price of petrol, driven by global crude oil price volatility and exchange rate challenges, has worsened the economic hardship faced by Nigerian workers.

The TUC leader attributed the surge partly to international developments, including tensions involving the United States, Israel and Iran, which have affected global oil supply dynamics.

Osifo also linked the rising cost of petrol to the depreciation of the naira, warning that the continued weakening of the currency is compounding inflationary pressures and reducing the real value of workers’ earnings.

To address the situation, the TUC president proposed that the government should utilise excess revenue generated when crude oil prices exceed the budget benchmark to support local refining.

He explained that with the 2024 budget benchmarked at $64.85 per barrel, any price above that threshold results in additional revenue shared by the three tiers of government, adding that at least 60 per cent of such excess funds should be channelled into subsidising crude supplied to domestic refineries, including the Dangote Refinery and other modular refineries.

He also urged authorities to take deliberate steps to stabilise the currency, noting that exchange rate stability would significantly reduce the cost of imported energy and other goods.

The TUC said it would formally communicate its proposals to the Federal Government, including the Presidency, with a view to ensuring the prompt implementation of measures to ease the hardship facing Nigerians.

He said, “Today, the cost of petrol is heading towards N2,000 per litre, depending on the part of the country that you are in. It has deeply affected the purchasing power of the salaries that we earn as Nigerian workers.

“Let the government take that excess fund that was never budgeted for, take at least 60 per cent of it, and use it to subsidise the crude being supplied to Dangote Refinery.

“The same should be done for Dangote Refinery and all modular refineries, where crude is supplied to them at that subsidised rate.

“Take the difference from the excess crude revenue, take about 60 per cent of it, and use it to subsidise the price at which crude is supplied to the refinery.

“When you subsidise crude, it cannot be abused because you are subsidising production directly. When that is done, we are going to see an immediate reduction in the price of petroleum products.”