RESPONSE TO KPMG: OBSERVATIONS ON NIGERIA'S NEW TAX LAWS- BY PRESIDENTIAL FISCAL POLICY AND TAX REFORMS COMMITTEE. (PHOTO). #PRESS RELEASE.

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 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞 𝐭𝐨 𝐊𝐏𝐌𝐆: 𝐎𝐛𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐨𝐧𝐬 𝐨𝐧 𝐍𝐢𝐠𝐞𝐫𝐢𝐚’𝐬 𝐍𝐞𝐰 𝐓𝐚𝐱 𝐋𝐚𝐰𝐬 ---𝘉𝘺 𝘗𝘳𝘦𝘴𝘪𝘥𝘦𝘯𝘵𝘪𝘢𝘭 𝘍𝘪𝘴𝘤𝘢𝘭 𝘗𝘰𝘭𝘪𝘤𝘺 𝘢𝘯𝘥 𝘛𝘢𝘹 𝘙𝘦𝘧𝘰𝘳𝘮𝘴 𝘊𝘰𝘮𝘮𝘪𝘵𝘵𝘦𝘦 We welcome all perspectives that contribute to a shared understanding and successful implementation of the new tax laws. We acknowledge that a few points raised by KPMG are useful, particularly those related to implementation risks and clerical or cross-referencing issues. However, the majority of the publication reflected a misunderstanding of the policy intent, a mischaracterisation of deliberate policy choices, and, in several instances, the repetition of opinions and preferences as facts. 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐨𝐛𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐨𝐧𝐬 A significant proportion of the issues described as “errors,” “gaps,” or “omissions” by KPMG are either: - the firm’s own errors and invalid conclusions, - issues not properly understood by the firm,  - missed context on broader reforms objec...

SARAKI MET WITH MDAs RESPONSIBLE FOR THE WELFARE OF NIGERIAN STUDENTS ON SCHOLARSHIP ABROAD TODAY.{PHOTO}.

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  Senate President Saraki said today that  ''Today, I met with representatives of Ministries, Departments and Agencies (MDAs) responsible for the welfare of Nigerian Students on scholarships abroad who are now stranded due to non-payment of their living allowances and tuition fees by relevant government agencies.
At the meeting, I directed the Federal Scholarship Board (FSB) to present a comprehensive report of all Nigerian students on scholarship abroad and their outstanding entitlements to the relevant committees of the Senate to enable the Senate make Appropriations for their settlement.
Additionally, I have called for a comprehensive review of all scholarship policies in the country — through oversight — in order save Nigeria from future embarrassment.
All concerned parties must realize that we have sent many of our best and brightest minds abroad, hence, we must be able to solve this problem of non-payment of scholarships here at home. Moving forward, we cannot allow bureaucracy, bottle necks, or anything to stop us from paying our students scholarships.
Under the Bilateral Education Agreement (BEA) entered into by Nigeria and several foreign governments, some of the host countries have responsibility for part of the upkeep of Nigerian students – while Nigeria must necessarily fulfill her own part. There is a need for the MDAs to look at our responsibility to our students in the different countries, and devise ways of making good on our part of such agreements.
We must recognise that these students scattered that are currently in dire conditions all over the world, represent a sizable component of the future of Nigeria – her dreams of progress and development.
This is another kind of brain drain, The worst part is, this is a brain drain that benefits no one, not even foreign countries. We are not even losing the best of these students to foreign lands – we are in danger of losing them, period. If we don’t rectify this situation – let me put it bluntly – we would be sacrificing their futures; and that, is unthinkable.
We must ensure that the students that we have sent abroad are able to complete their training and come back home in good time so that they can contribute to the development of our nation. However, as we do this, we must also create sustainable and transparent frameworks for the award and management of these scholarships, to give all eligible Nigerians a chance.The relevant Senate Committees will be having a public hearing to comprehensively review all the issues raised today, and come up with concrete recommendations and actions on the way forward''.
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