Business

Tinubu inaugurates presidential committee on fiscal policy, tax reforms

Published

1 year ago

August 8, 2023 1:49 pm

BodexNG

President Bola Tinubu has inaugurated the presidential committee on fiscal policy and tax reforms.

The inauguration took place in Abuja on Tuesday.

In July, the president approved the establishment of the committee and appointed Taiwo Oyedele, a tax and fiscal policy expert, as its chairman.

In a statement announcing the development, Dele Alake, special adviser to the president on special duties, communications and strategy, said the committee will comprise experts from both the private and public sectors.

He said the panel would be responsible for various aspects of tax law reforms, fiscal policy design and coordination, harmonisation of taxes, and revenue administration.

The special adviser said the committee’s primary objective is to enhance revenue collection efficiency, ensure transparent reporting, and promote the effective utilisation of tax and other revenues to boost citizens’ tax morale, foster a healthy tax culture, and drive voluntary compliance.

Speaking on the committee’s establishment, Zacchaeus Adedeji, special adviser to the president on revenue, emphasised the importance of a sound fiscal policy environment and an effective taxation system for the functioning of the government and the economy.

He said Nigeria ranks very low on the global ease of paying taxes while the country’s tax to gross domestic product (GDP) ratio “is one of the lowest in the world and well below the African average”.

“This has led to an overreliance on borrowing to finance public spending which in turn limits the fiscal space as debt service costs consume a greater portion of government revenue, annually resulting in a vicious cycle of inadequate funding for socio-economic development,” he had said.

“While some incremental progress has been recorded over the years, the outcomes have not been transformative enough to change the narrative.”

Business

31m users exposed as Wayback Machine suffers data breach

Published

4 hours ago

October 10, 2024 2:18 pm

BodexNG

The details of 31 million users have been exposed after Internet Archive’s Wayback Machine suffered a hack.

Internet Archive is a non-profit digital library that offers millions of free books, movies, audio files, and billions of saved web pages in the Wayback Machine that would have been lost or deleted.

An illicit pop-up on the Internet Archive on Wednesday announced that the site had suffered a major data breach.

“Have you ever felt like the Internet Archive runs on sticks and is constantly on the verge of suffering a catastrophic security breach? It just happened. See 31 million of you on HIBP!” users reported seeing on the landing page after the hack.

HIBP, an acronym for Have I Been Pwned, is a tool that confirms if email addresses previously suffered a data breach.

Troy Hunt, HIPB creator, confirmed that the breach was legitimate.

According to Brewster Kahle, Internet Archive founder, the organisation fended off a DDOS attack.

Kahle said the library also disabled the JS library after hackers defaced the website via the portal, scrubbed systems, and upgraded security.

“Will share more as we know it,” Kahle tweeted.

A pop-up on the Wayback Machine urged users to ask publishers to restore access.

Business

FG launches portal for vehicle owners to convert to CNG and pay later

Published

6 hours ago

October 10, 2024 12:20 pm

BodexNG

The federal government has launched a website that allows users to convert their petrol-powered vehicles to compressed natural gas (CNG) and pay later.

The National Orientation Agency (NOA) announced the new initiative on its X handle in a statement on Tuesday.

“Switching to Compressed Natural Gas (CNG) is now more accessible than ever,” NOA said.

“With flexible payment plans tailored to fit your budget, transitioning from petrol to CNG has never been smoother or more affordable.

“These payment options allow you to convert your vehicle now and pay later with affordable monthly instalments at competitive rates.”

The agency said with an easy online application and quick approval process, beneficiaries would be supported every step of the way, to ensure a hassle-free experience.

“Visit: gocng.ng to get started,” NOA said.

According to the agency, the benefits of CNG include cost savings, environmental impact, enhanced engine life, safety and reliability, as well as proven technology with a track record of safety and dependable performance.

On October 7, the federal government launched a portal that would allow youths to access CNG-powered tricycles.

In his remarks, Michael Oluwagbemi, project director and chief executive officer (CEO) of the presidential CNG initiative (P-CNGi) said the initiative would enhance the economic well-being of Nigerians by reducing dependence on petrol.

Business

Nigerian Air Force direct short-service application opens October 14 (Apply Here)

Published

7 hours ago

October 10, 2024 11:26 am

BodexNG

The Nigerian Air Force (NAF) says applications for the direct short-service cadets (DSSC) programme will open on October 14.

In a post on X on Wednesday, NAF said online registration will end on November 26.

The NAF said the enlistment is for graduates and postgraduates, who must be of Nigerian origin by birth.

“Applicants must not be less than 1.66 and 1.63 metres tall for male and female candidates, respectively,” the post reads.

“Applicants must be medically, physically, and psychologically fit; applicants must be free of any criminal conviction by the court of law.

“Applicants must be between the ages of 20 and 30 — but the age requirement for medical consultants is between 25 and 40 years.

“All applicants must possess a minimum of second-class upper division with five credits in a related course of study: a discharge certificate/letter of exemption from the National Youth Service Corps (NYSC) and a certificate of full registration with their respective statutory professional bodies in Nigeria.

“All candidates are expected to possess a LGA attestation, a passport photograph, and means of identification, such as a driver’s license, national identification number, or international passport.

“Applicants are advised to print out acknowledgement slips and LGA attestation forms after completing the application.”

NAF noted that the online registration is free of charge, adding that computer literacy will be an advantage.

It added that successful applicants will be invited for selection board interview exercises through the registration portal.

Interested applicants are to apply online at https://airforce.mil.ng/.

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others