Most States Can't Survive Without Federal Allocations - Osinbajo
Most States Can't Survive Without Federal Allocations - Osinbajo
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12 May, 2018, 01:55
"The number of tax payers which is measured by the number of Tax Identification Number issued has now crossed 19 million, from 13 million when we came in 2015 and this is really commendable".
"We are rewriting the old rules and compacts; making it clear to Nigerians that we will ensure that every naira of public money is put to use for the maximum good of the Nigerian people".
Providing a further breakdown of the 943 taxpayers who paid N10m and above, the VP said 941 of them were resident in Lagos, while the remaining two were residents of Ogun State.
Adeosun, who said this during a meeting with a World Bank Mission of 10 executive directors led by Mr. Patrizio Pagano, noted that the Federal Government would mobilise more revenues to drive its growth plan for the economy.
Adeosun said the issue of tax was now a popular discussion in a country where people were challenged and felt that the services they expected from paying taxes were not necessarily available. That is why we are driving the mobilisation of more revenues.
She said the government would accelerate growth level and improve the "Ease of Doing Business" in the country.
According to her, "All around the country, we have rail, power and road projects ongoing, creating jobs, and improving citizens' lives".
Adeosun, however, urged Nigerians to trust the Federal Government, promising that it would deliver on infrastructure and services if they paid their taxes.
Cutting's Mumbai beat Kolkata in IPL Nitish Rana has been in fine touch for the purple brigade from the outset while Andre Russell has played a few devastating knocks. However, his innings was halted by Chawla on an individual score of 18 runs off 13 deliveries in the sixth over of the innings.
The group of 10 Executive Directors, on a working visit to Nigeria represents 93 countries from across Africa, Asia, Central America and Europe.
Other members of the team include the directors for Burkina Faso (representing Francophone Sub-Saharan Africa), Zimbabwe (representing Anglophone Sub-Saharan Africa), United Kingdom and Indonesia.
The meeting would be majorly centred on the World Bank projects in the country.
World Bank records showed 18 other projects have active implementation status.
Osinbajo stated that the present administration was determined to change the state of affairs and also determined to restore the social contract between the government and the citizens by ensuring prudence in public expenditure.
Additional $125 million financing for State Health Investment Project; the $50 million second additional financing to Third National Fadama Development Project and the $125 million additional financing for polio eradication support project were also approved by the bank on June 7, 2016. It was restructured on February 1, 2018, with a December 31, 2019 closing date.
The World Bank Mission had earlier met with organised private sector in Lagos and undertook a tour of LAPO Microfinance project in Lagos.
Apart from the Conflict Monitoring System initiative approved last October 27 valued at about $40,000, the other project the team would equally look at include the recent $486 million approved for the Federal Ministry of Power for the electricity transmission system rehabilitation approved last February 15.
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Though the mace was later recovered, that matter is still being investigated by the police and the National Assembly. The court said the reason that Senate gave for suspending Omo-Agege for 90 legislative days, was unconstitutional.
The stock of ICON Public Limited Company (NASDAQ:ICLR) earned "Market Perform" rating by Avondale on Wednesday, October 21. Morningstar Inc. reaffirmed a "neutral" rating on shares of Exxon Mobil Corp .in a research note on Tuesday, August 30th.
The bank's board has approved sale of up to 1.5 billion shares in multiple tranches with the aim of raising Rs3,000 crore. Provisions for non-performing assets nearly tripled from a year earlier to 87.63 billion rupees.
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