The de-funding of the TETFund, NASENI, and NITDA, which was approved by the Nigerian Governors’ Forum on Thursday in Abuja, has been opposed by the Coalition of Northern Group.
According to the report, these institutions are essential to the nation’s advancement in technical development, innovation, and education.
During a news conference yesterday in Bauchi, the CNG also opposed taxing family wealth or inheritance, claiming that doing so unfairly burdened families and goes against cultural norms and religious heritage.
It added, “With soaring food inflation now at about alarming 40% which has made millions of people food insecure, we not only reject any scintilla of thought that proposes an increase in VAT but proposed a reduction from 7.5% to 3.%.”
Comrade Jalilu Aliyu Charanchi, the coalition’s national coordinator, conducted the news conference and issued a stern warning against any attempt to raise the Value Added Tax, citing the dire economic conditions that are currently making living in Nigeria extremely difficult.
However, Charanchi clarified that rather than stifling SMEs with needless levies and exploitation, it was time for the federal government to promote and encourage them.
He said, “The coalition further rejected the proposed centralisation of tax collection which would stop the Nigeria Customs Service from collecting excise duties and import VAT as well as make the new Nigeria Revenue Service (NRS) the sole collector of Royalties from the upstream oil sector”.
The alleged 13% of taxes paid for consulting services in the name of reform, according to Comrade Charanchi, is also wrong since it puts the interests of a small group of persons who profit from the Nigerian commonwealth ahead of the general welfare of the populace.