Nation
Construction Industry Urges FG On Tax Reduction
The Federal Government has been called upon to reduce the tax on construction industry from five per cent to two and a half per cent.
President of the Federation of Construction Industry, Solomon Okebusola, made the call in Abuja recently at the 57th Annual General Meeting of Federation of Construction Industry.
According to him, the five per cent for withholding tax is too high and it is affecting the running of business in the industry.
Okebusola said stakeholders also had a major challenge affecting the construction industry as billions of naira were trapped at the Federal Inland Revenue Service, (FIRS).
“Various sums, ranging from N5 billion to N15 billion, were being owed to various construction companies as refunds from withholding tax.
“We have up to N15 billion owed by the FIRS to some of our members.
“The stakeholders’ problem was rather that when the time for tax refund came, the chairman of FIRS would say he had no power to make such refund and would refer them to the minister of finance.
“They were also informed that the tax-collecting agency was allocated only N5 billion for refunds, which was responsible for the huge default,’’ Okebusola said.
However, the Deputy Director, Tax Policy, at FIRS, Mr Matthew Gbonjubola, gave the assurance that the issue would be addressed.
“We are reviewing our withholding tax system to make sure that it will allow all tax payers to be able to utilise their withholding tax credits when they are supposed to utilise them,” he said.
He said that the current tax regime now being criticised was the making of the law and not that of the FIRS, saying that the law must be amended first before the required changes could be effected.
“All arms of government are working on it and very soon we will come out with a new tax regime,” he pledged.
Nation
HYPREP Marks 15 Years Of UNEP Report, Highlights Major Cleanup Milestones
The Hydrocarbon Pollution Remediation Project (HYPREP) has commemorated the 15th anniversary of the release of the United Nations Environment Programme (UNEP) Environmental Assessment Report on Ogoniland, reaffirming its commitment to restoring the environment and improving the livelihoods of affected communities.
In a statement signed by the Project Coordinator, Prof Nenibarini Zabbey, to commemorate the anniversary, HYPREP described the anniversary as a significant milestone in Nigeria’s environmental restoration efforts, noting that the project has made remarkable progress in implementing the recommendations of the landmark UNEP report released on August 4, 2011.
The UNEP report had revealed extensive oil pollution across Ogoniland, severe environmental degradation, and serious public health risks resulting from decades of petroleum operations. It also recommended an initial $1 billion fund to commence the cleanup of the affected communities.
According to HYPREP, the Federal Government formally launched the Ogoni clean-up in 2016, while the Project Coordination Office was established in 2017 to drive the implementation of UNEP’s recommendations.
Zabbey said the current administration has continued to prioritise the project under the Renewed Hope Agenda.
Providing an update on the cleanup, the Project Coordinator disclosed that 30 of the 65 contaminated sites identified by UNEP have been fully remediated, while work is ongoing at several medium- and high-risk locations. It also stated that more than 1.5 million mangrove seedlings have been planted as part of what it described as the world’s largest restoration of oil-degraded mangroves, with over 1,000 hectares of shoreline already rehabilitated.
Zabbey further revealed that 49 Ogoni communities have been connected to potable water schemes through multiple water projects and booster stations aimed at providing safe drinking water across the region.
In the health sector, he said the 100-bed Ogoni Specialist Hospital in Kpite and the 43-bed Cottage Hospital in Buan are nearing completion, adding that several existing health facilities have been upgraded with modern medical equipment, while five ambulances have been donated to improve emergency healthcare services. The Project Coordinator also disclosed that a three-year human health biomonitoring study is being conducted in collaboration with the World Health Organization’s International Agency for Research on Cancer (IARC).
On economic empowerment, Zabbey stated that the Project has created more than 8,000 direct jobs and trained thousands of Ogoni youths and women in various vocational and technical skills, including software development, cybersecurity, aviation, commercial diving, seafaring, mechatronics, and creative arts. The project also reported awarding scholarships to more than 1,000 students, providing grants to small businesses, and supporting persons living with special needs through skills acquisition programmes.
The statement further highlighted ongoing legacy projects, including the Ogoni Power Project and the Centre of Excellence for Environmental Restoration, which it said is about 96 per cent complete. HYPREP also welcomed the recent designation of the Ogoni Wetland as a Ramsar Site of International Importance and pledged to continue promoting biodiversity conservation and sustainable management of the ecosystem.
Marking the anniversary, Zabbey said the progress achieved over the past 15 years demonstrates the collective commitment of government, development partners, stakeholders, and local communities to restoring Ogoniland. He called for renewed collaboration to sustain the cleanup effort, promote environmental sustainability, and support the long-term development of the region. 3
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