NASS seeks removal of fuel subsidy
Members of the National Assembly on Wednesday urged President
Muhammadu Buhari to prioritize the removal of fuel subsidy as a first
step in the fight against corruption and sanitization of the economy.
The members, under the auspices of the National Assembly Anti-Money Laundering and Cyber Security Coalition, spoke during its valedictory session in Abuja.
The Chairman of the Coalition, Senator Aloysius Etok, in his address, said fuel subsidy as presently operated, only benefits a few rich persons at the detriment of the poor masses.
Etok noted that the country has so far lost over N2trillion to indiscriminate tax waivers, tax evasion and cyber crimes.
He commended Buhari for making the fight against cybercrime top priority of his administration.
He added that fighting tax evasion in the country is no longer a “choice” but a “necessity.”
Etok said, “With President Muhammadu Buhari’s administration which was inaugurated few days ago, it is generally believed that corruption and related crimes would be frontally tackled.
“We would expect, among other issues, the present government, to remove fuel subsidy which is seemingly a conduit-pipe for corruption.
“Setting up of corruption court for speedy trials of corrupt officials and tax evaders and overhauling of expatriate quota policy.
“Repositioning of the Free Trade Zones by giving specific tenure of not more than 10 years to enterprises to revert to normal company just like Singapore, Malaysia and other countries of the world.”
He lamented that the operation of FTZ in perpetuity without payment of taxes has resulted in revenue loss and poor infrastructure “which in most cases makes the government to become a tenant instead of a landlord.”
He said: “As Chairman of this body, I am aware of the dangers of tax evasion and indiscriminate tax waivers present to our economy.
The members, under the auspices of the National Assembly Anti-Money Laundering and Cyber Security Coalition, spoke during its valedictory session in Abuja.
The Chairman of the Coalition, Senator Aloysius Etok, in his address, said fuel subsidy as presently operated, only benefits a few rich persons at the detriment of the poor masses.
Etok noted that the country has so far lost over N2trillion to indiscriminate tax waivers, tax evasion and cyber crimes.
He commended Buhari for making the fight against cybercrime top priority of his administration.
He added that fighting tax evasion in the country is no longer a “choice” but a “necessity.”
Etok said, “With President Muhammadu Buhari’s administration which was inaugurated few days ago, it is generally believed that corruption and related crimes would be frontally tackled.
“We would expect, among other issues, the present government, to remove fuel subsidy which is seemingly a conduit-pipe for corruption.
“Setting up of corruption court for speedy trials of corrupt officials and tax evaders and overhauling of expatriate quota policy.
“Repositioning of the Free Trade Zones by giving specific tenure of not more than 10 years to enterprises to revert to normal company just like Singapore, Malaysia and other countries of the world.”
He lamented that the operation of FTZ in perpetuity without payment of taxes has resulted in revenue loss and poor infrastructure “which in most cases makes the government to become a tenant instead of a landlord.”
He said: “As Chairman of this body, I am aware of the dangers of tax evasion and indiscriminate tax waivers present to our economy.
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