BIG STORY

62% Of Nigerians See Country Moving Forward Under Tinubu Despite Economic Hardship — Survey

Published

1 year ago

August 14, 2023

Recent survey shows that 62% of Nigerians think President Bola Tinubu’s administration would advance the country.

In collaboration with Analysts Data Services and Resources (ADSR), the study was carried out by CMC Connect LLP, a public perception consultancy and strategic communication organisation with offices in Lagos.

The companies reported that 1,714 people from all six geopolitical regions of the nation participated in the survey and provided feedback on Tinubu’s first 60 days in office.

“38% do not see the country moving forward under the current administration, while 62% do,” the report reads.

“By and large, respondents are less satisfied with the first 60 days of the current administration, but they are more optimistic about the country moving forward under the current administration.”

According to the survey, a substantial majority of respondents show strong satisfaction with the suspension of Godwin Emefiele as governor of the Central Bank of Nigeria (CBN) and Abdulrasheed Bawa as chairman of the Economic and Financial Crimes Commission (EFCC).

The report said respondents endorsed the allowance of both old and redesigned naira notes as legal tenders, while the proposed removal of electricity subsidy got significant dissatisfaction due to concerns about energy costs.

The report said the unification of exchange rates and the president’s target of 6 percent average growth rate in the next four years also received moderate gratification levels from respondents.

“There is substantial dissatisfaction with the arrangement of the ministerial list among respondents, emphasizing the relevance of diversified and representative cabinet selections,” the report reads.

“The removal of petrol subsidy generates mixed views, with a significant portion becoming disheartened and harboring strong concerns, showing the sensitive nature of energy policy changes.

“Planned opening of more land borders, and the release of fertilizers and grains to farmers and households enjoy favorable reception.

“Respondents support the appointment of Service Chiefs and the dissolution of governing boards of government agencies.

“The suspension of the import tax change levy on certain vehicles, the introduced green tax on single-use plastics, and excise duty escalation on locally manufactured products, receives favorable thumbs up.

“The establishment of the Nigerian education loan fund garners mixed satisfaction levels, underscoring the need for a balanced approach to education financing.”

The firms said the findings of the survey showed that 33 percent of the respondents did not vote in the last election, while 67 percent voted.

“51% of the respondents voted APC during the last election, 5% voted PDP, 32% voted LP, 2% voted NNPP, while 10% voted other parties,” the report adds.

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BIG STORY

President Tinubu Submits Four Tax Reform Bills To National Assembly

Published

14 hours ago

October 3, 2024

PorscheClassy News

President Bola Tinubu has submitted four tax reform bills to the National Assembly for their consideration.

In a letter presented during the plenary sessions by Senate President Godswill Akpabio and Speaker of the House of Representatives, Tajudeen Abbas, on Thursday, the President outlined that the bills align with his administration’s goals.

The proposed legislation includes the Nigeria Tax Bill 2024, designed to establish a comprehensive fiscal framework for regulating taxes.

The Tax Administration Bill aims to provide a clear legal structure for managing taxes in Nigeria, reducing disputes and improving efficiency.

Additionally, the Nigeria Revenue Service Establishment Bill seeks to repeal the Federal Inland Revenue Service Act and establish the Nigeria Revenue Service.

The Joint Revenue Board Establishment Bill proposes the creation of a tax tribunal and an ombudsman to handle tax-related issues.

Tinubu emphasized that these bills are intended to strengthen Nigeria’s fiscal institutions and support the broader development goals of his government.

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BIG STORY

BREAKING: Court Bars VIO From Stopping, Impounding, Confiscating Vehicles

Published

14 hours ago

October 3, 2024

PorscheClassy News

A Federal High Court in Abuja has barred the Directorate of Road Traffic Services (VIO) from stopping vehicles, impounding or confiscating them, and imposing fines on motorists.

Justice Evelyn Maha issued the order in a judgment on fundamental rights enforcement suit FHC/ABJ/CS/1695/2023, filed by human rights activist Abubakar Marshal.

The judge upheld Marshal’s argument that “no law empowers respondents to stop, impound, confiscate, seize, or impose fines on motorists.”

Justice Maha declared that the respondents, under the control of the Minister of the FCT, are not empowered by any law to stop, impound, or confiscate vehicles or impose fines.

She issued an order restraining them from doing so, stating it’s “wrongful, oppressive, and unlawful.”

Additionally, Justice Maha made a perpetual injunction restraining the respondents from violating Nigerians’ rights to freedom of movement, presumption of innocence, and right to own property without lawful justification.

More to come…

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BIG STORY

NELFUND Fixes BVN Verification Glitch, Urges Students To Reapply For Loans

Published

15 hours ago

October 3, 2024

PorscheClassy News

The Nigerian Education Loan Fund (NELFUND) has announced the resolution of a technical issue that disrupted the BVN (Bank Verification Number) verification process for students applying for loans.

The issue, which began over the weekend and persisted through the public holiday, caused delays for many applicants.

In a statement posted on NELFUND’s official X (formerly Twitter) account on Wednesday, the organization confirmed that the issue had been fully resolved by Tuesday morning. NELFUND advised all affected students to log back into the portal, complete their BVN verification, and proceed with their loan applications.

“Dear Students,

“We have observed that many of you experienced issues with BVN verification while applying for the student loan over the last weekend, including the public holiday.

“We are pleased to inform you that the issue has been addressed and fully resolved as of yesterday morning.

“We kindly advise all affected students to log back into the portal, complete the BVN verification process, and proceed with your loan application,” the statement read in part.

NELFUND also expressed gratitude to students for their patience during the disruption and reassured them that the application process can now continue smoothly without further issues.

The revised Student Loan Act of 2024 was designed to eliminate financial barriers and make education more accessible to all Nigerian students, regardless of their economic background.

The Nigerian Education Loan Fund (NELFUND) receives its primary funding from a 1% allocation of the total revenues collected by the Federal Inland Revenue Service (FIRS), Nigerian Immigration Service, and Nigerian Customs Service through taxes, levies, and duties.

In August, President Bola Tinubu announced that the Economic and Financial Crimes Commission (EFCC) had transferred N50 billion in recovered funds to NELFUND, following his directive, to further strengthen the student loan program.

Students from across the country applied for the NELFUND loan, with the top 10 states having the highest number of applicants, in ascending order, being Taraba, Yobe, Adamawa, Oyo, Plateau, Kaduna, Katsina, Benue, Borno, and Kano, which ranks first.

Since the fund disbursement’s rollout, NELFUND has distributed N4.6 billion as tuition support to students in 59 approved tertiary institutions across the country.

This includes N2.5 billion disbursed in August and an additional N2.1 billion disbursed to students in 40 institutions earlier in September.

Furthermore, in August, NELFUND initiated the distribution of N20,000 monthly stipends to beneficiaries, with 20,371 students from six tertiary institutions successfully receiving their July payments.

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