Business & Economy
Senate begins public hearing on Tax Reform Bills on Monday …invites critical stakeholders , 71 agencies .

By George Mgbeleke
The Senate through its committee on Finance , will on Monday and Tuesday next week , carried out public hearing on tax reforms bills forwarded to both Chambers on October 3rd , 2024 by President Bola Tinubu .
The tax reform bills which are (i) The Nigeria Tax Bill (NTB) 2024, (ii)The Nigeria Tax Administration Bill (NTAB) 2024, ( iii)The Nigeria Revenue Service (Establishment) Bill (NRSEB) 2024 and (iv) The Joint Revenue Board (Establishment) Bill (JRBEB) 2024, were passed for second reading in the Senate on 28th of November, 2024 and forwarded to the Committee on Finance for more legislative inputs through public hearing .
Briefing journalists on Wednesday after a closed door meeting held with members of the committee ahead of the public hearing , the Chairman, Senator Mohammed Sani Musa ( Niger East ) , the slated public hearing is coming after wide consultations made with relevant stakeholders.
Sani Musa said the bills on Joint revenue board establishment bill and Nigerian Revenue Services Bill , will be deliberated upon on Monday while the one on Nigerian Tax Administration and Nigeria Tax bill , will be focused upon on Tuesday .
According to him , for thorough consideration of the bills aiming at changing the dynamics of the Nation’s economy, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun , the Attorney – General of the Federation, Lateef Fagbemi ( SAN) , Chairman of Federal Inland Revenue Service , Zacch Adedeji , Statistician General of the Federation and Chief Executive , National Bureau of Statistics , Prince Adeyemi Adeniran , the Minister of Petroleum and his counterpart in the Ministry of Trade and Investment etc ,are expected at the public hearing .
” The Committee is inviting Nigerians totalling 71 different groups of stakeholders for the very important public hearing “, he said .
” Both the Senate and the House of Representatives have done the second reading on the reform bills and are ready for the public hearing .
” The bills have been read by all members of the committee with better understanding of what they are aimed at , like in the areas of tax administration , collection and operations in Nigeria.
“The main purpose of the reform bills are to see to how government will generate more revenue so that we’ll be able to put our country on the pedestrian of advanced economies where infrastructure where education where agricultural sector and virtually every sector that revolves around the ecosystem of economy will be adequately taken care of.
” Expectedly, we have had engagements with a lot of stakeholders before arriving at where we are today, and I believe that the public hearing is going to go on smoothly, and wherever the grey areas are,they will be addressed .
” Mr. President himself has said it, times without number, that he’s not going to interfere. It is our duty as legislators to do the needful for the good of this country.
” We are all representatives of different tribes, religion, geographic history, but we are Nigerians. And what we will work towards giving Nigeria, are laws, legislations that will put us on track economically, and by the grace of God, I think… We will succeed”, he explained .
Earlier before the closed door session , the committee met top management of Ministry of Finance Incorporated ( MOFI) led by its Managing Director and Chief Executive Officer , Dr Armstrong Tokang who was directed to provide the committee , the National Assets Register of the country .
Business & Economy
Bayelsa Solicits Cooperation Of Business Community in Fight Against Fake Products …. Says Gas Turbines Will Reduce Cost Of Doing Business in the State.

By David Owei, Bayelsa
The Bayelsa State Government has called on the business community in the state to support its efforts at fighting the proliferation of fake and adulterated products that are being distributed and sold to consumers within and outside the state.
The Deputy Governor, Senator Lawrence Ewhrudjakpo, made the call at the weekend when the Bayelsa Mega Entrepreneurs Forum paid him a courtesy visit in Government House, Yenagoa.
The Deputy Governor, who described the mega entrepreneurs as the backbone of the economy of the State, however, noted that they have a critical role to play to checkmate the marketing and distribution of fake and expired goods and products which portend danger to the populace.
While encouraging the entrepreneurs to always pay their taxes to government as required by law, Senator Ewhrudjakpo, assured that the concerns raised by the group, especially the issue of multiple taxation, would be appropriately addressed.
He informed that government had prioritized the twin issues of security and power as key drivers of business and economic development, hence it had invested heavily in the security architecture of the State.
Describing power generation as the major component of the cost of doing business in the country, he further assured the Bayelsa business community that the State Government was working assiduously to meet up the December deadline for the full operation of its new gas turbine plant to solve the problem of epileptic electricity supply.
The Bayelsa number two Man equally called on the big entrepreneurs to extend their various businesses to the rural areas to stimulate a balanced economic growth in every part of the state, and not just in the capital city alone.
On the forthcoming Bayelsa Mega Entrepreneurship Summit, he said government was on top of it and would leave no stone unturned to make it a huge success.
His words: ” It is good to see that you have come together to form a group. Your coming together will do a lot of good for our state. You are a pillar to the economy of Bayelsa State.
“We believe that every good government should create the enabling environment for entrepreneurs to thrive. That is why the ASSURED Prosperity Government is taking the most important to the least. We have improved our security architecture to secure lives and property because without security, nobody can comfortably do business.
“After security, the next thing is power for businesses to thrive. Power generation to sustain business is highly capital-intensive. But very soon, there will be relief as government is working round the clock on the December deadline.
” As a government, we want to encourage you to moderate your businesses, and pay taxes as at and when due. There is also the issue of fake and adulterated products in the State. We need your support and cooperation in the fight to checkmate the proliferation of fake products being sold in the state.”
Earlier in a remark, the Technical Adviser to the Governor on Entrepreneurship Development, Mrs. Charity Kens-Godwin, explained that the visit was intended to create an opportunity for the Bayelsa Mega Entrepreneurs to interface with government.
While reminding the Deputy Governor of the Bayelsa Mega Entrepreneurship Summit that is due in a week’s time, Mrs Kens- Godwin applauded him for his good disposition towards the business community, especially on the issue of multiple taxation.
Also, the CEO of Ayalla Hotels, Chief Ayalla Robert Enogha, thanked the state government for taking the bull by the horn through the acquisition of the gas turbines to stabilize power supply in the state, noting that the cost of diesel consumes a huge chunk of profits from businesses operating in the state.
Chief Ayalla, who extolled government for creating the platform through the office of the Technical Adviser on Entrepreneurship Development, however, pleaded with government to look into the issue of multiple taxation as well as high levies being imposed on truck drivers bringing goods into the state, which translates to higher prices and cost of living.
Business & Economy
Vehicle Manufacturers, Innoson, To Build CNG Plant In Bayelsa

By David Owei,Bayelsa
Nigerian vehicle manufacturers, Innoson Vehicles Manufcturing (IVM) Limited, has disclosed plans to establish a Compressed Natural Gas (CNG) assembly plant in Bayelsa State.
The Managing Director and Chief Executive Officer, Chief Innocent Chukwuma, stated this on Monday when he visited Governor Douye Diri in Government House, Yenagoa.
The Innoson CEO said the investment would boost the state’s transportation sector as well as provide training and create jobs.
He stated that the initiative will also promote cleaner and greener environment and enhance the country’s capacity to meet its renewable energy target by 2030.
In his presentation, the company’s Corporate Communications Manager, Mr. Kamsi Ejiofor, explained that the objective is to introduce modern CNG buses, ambulances and vehicles that would enhance mobility and public efficiency in the state.
According to him, the plant will generate 1000 jobs and thousands of direct opportunities in assembly, maintenance, logistics and local manufacturing as well as boosting Bayelsa’s economy by enhancing its industrial base.
Ejiofor said: “The usage of CNG vehicles will save cost from fuel and maintenance, improve health, cleaner air and lead to innovation in Bayelsa, making the state a clean energy and tech pioneer in Nigeria.”
Responding, Bayelsa State Governor, Senator Douye Diri, commended Chief Chukwuma for the decision to site the the CNG conversion plant in the state, noting that the investment would help grow Bayelsa’s industrial base.
While expressing his administration’s commitment to collaborate with the vehicle firm, Senator Diri described the initiative as a welcome development towards moving the state’s economy from consuming to production.
The governor, who said the investment was timely, noted that procurement of CNG vehicles was in the state government’s budget projection for 2026 and expressed delight over the economic impact of such investment, particularly in the area of job opportunities.
The state’s helmsman noted that his administration was putting in place the necessary infrastructure to support investments in Bayelsa and urged other investors to emulate Innoson to invest in the state.
“It is a welcome development for CNG vehicles plant to be sited in Bayelsa. We are ready to partner with you.
“One area that l am interested in is the CNG aspect. The world is moving towards renewal energy because of environmental pollution.
“My administration was considering purchasing CNG buses to run our upland transport system. Your coming is timely because it is part of our projections for 2026.
“I assure you that we are putting in place the right environment to enable investments thrive in terms of peace and security, infrastructure and our independent power supply, which will ensure uninterrupted electricity.”
Diri also announced an implementation committee to interface with the company.
The committee has Secretary to the State Government, Prof. Nimibofa Ayawei as chairman while other members are the Commissioner for Trade and Investment, Jones Ebieri, his Information and Finance counterparts, Mrs Ebiuwou Koku-Obiyai and Maxwell Ebibai respectively.
Others are the Commissioner for Justice and Attorney-General, Biriyai Dambo (SAN),
Preye Broderick (Transport), Mazi Johnson Onuma (General Duties), as well as the Special Adviser on Investment, Owanari Harry, and the
Technical Adviser on Entrepreneurship, Charity Kens Godwin.
Business & Economy
Anua Offot Market builds eight new public convenience, Village Head, Market Chairman lauds NYSC, NEMA on market sanitation

By Emmanuel Ikpe
The village head of Anua Offot, Uyo Local Government Area, Chief Linus Inyang had commended effort of the Anua Offot Market Management Committee for working tirelessly to provide convenience to market women and visitors to the market alike.
Chief Linus Inyang gave the commendation while cutting the tape to open the newly built public convenience for use at the weekend, while expressing confidence in the market management team for doing everything possible to uplift the standard of living of people in the market, expressed the determination to continue to attend to the plight of those selling at the market square.
The Village Head has also commended the Community Development Service Team of the Nigeria Youth Service Corp, NYSC for choosing Anua Offot Market to carryout their practical assignment by cleaning the market, which he described it as lovely.
Speaking, the President of Environmental Protection Service Group of the NYSC, Afasare Precious, said they were at the market to sensitized the traders on waste management and control in order to keep health of the market environment high and this has been demonstrated with the general cleaning of the market square.
The President of Disaster Management Team of the NYSC, Akinwumi Ayomide said they came under the supervision of National Emergency Management Agency NEMA, and the Environmental Sanitation CDS Group, to sensitized the market women on proper waste management and flood control, and was pleased that the women hearken to the exercise.
“We came to tell the market women that if the don’t disposed their waste properly, it would lead to blockage of drainage and flooding and we don’t wished anyone to experience flood no matter how little it maybe”, she stated.
Meanwhile, the chairman of the Anua Offot Market Management Committee, Mr Ransom Unung has appreciated the NYSC, NEMA and her team for choosing the market as their place of practical assignment and for NEMA for the orientation given to the market women on waste management and flood control while describing the exercise as very important and a necessity, he laud the market women for keying into the development. Unung appreciated the village head for giving him opportunity to served in that capacity, to interpret his dream and vision to the market women, promised to double up his efforts in his services to his people and his government.
Speaking earlier, Yellow-Duke Offiong, a Disaster Rok Officer of NEMA reiterated the agency continuous commitment to work with the NYSC and relevant government agencies to carryout awareness campaign on proper waste management and flood control and it effects on environment and human live.
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