UNACCEPTABLE – GOV. ALIA BLASTS MBALOM KILLINGS, ASSURES JUSTICE FOR VICTIMS. (PHOTO).

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 UNACCEPTABLE – GOV. ALIA BLASTS MBALOM KILLINGS, ASSURES JUSTICE FOR VICTIMS  Governor Hyacinth Alia of Benue State has condemned the latest attack on Mbalom community in Gwer East Local Government Area, describing it as barbaric and unacceptable, while assuring residents of intensified efforts to protect lives and property. In a statement issued by his Chief Press Secretary, Tersoo Kula, the governor reacted to reports of an assault by suspected armed herdsmen on the community, an incident that adds to recurring security concerns in parts of the state. Alia said the attack represents a direct threat to the peace and security of Benue, noting a disturbing pattern of what he described as calculated and selective assaults. He expressed sympathy to affected families and reiterated his administration’s resolve to confront criminal elements. The governor also commended the Nigeria Police Force and other security agencies for their swift response, adding that operatives are already...
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FG UNFOLDS PLANS TO CUT DOWN ON COST OF TAX EXPENDITURE, ENSURE TAX INCENTIVES. (PHOTO). #PRESS RELEASE

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 PRESS RELEASE 


FG UNFOLDS PLANS TO CUT DOWN ON COST OF TAX EXPENDITURE, ENSURE TAX INCENTIVES



The federal government has revealed plans to ultimately cut down on the cost of tax expenditure and ensure tax incentives which would positively impact the economy.


The Honourable Minister of Finance and  Coordinating Minister of the Economy, Mr Wale Edun, recently approved the inclusion of an Incentive Monitoring and Evaluation Platform (IMEP) in the current Import Duty Exemption Certificate (IDEC) process.


The IDEC automation, which was introduced as from 1st March, 2020, is a Fiscal incentive by the federal government under the Ministry of Finance to boost sectors of the economy by exempting critical players from paying import duty and all other statutory customs charges respectively.


In his statement: *This is to provide the Federal Ministry of Finance with a robust automated tool for more effective Monitoring and `Evaluation (M &E) measurement of the impact of all customs duty exemptions issued by the Ministry to government entities, companies, non- governmental oganisations (NGOs) and international organisations.*


According to him, the system is designed to provide a framework to exclude and restrict ineligible applicants, enforce strict compliance to fiscal policy measures and provide a robust impact analysis of tax incentives on the economy. This will further eliminate the misuse of tax expenditures; support the delivery of economic outcomes from fiscal incentives and strengthen the direct measurement of the impact of tax incentives on the economy.


He listed the key features of the IMEP to comprise: duty waiver claw back mechanism for issuance of demand notices to defaulters which would prevent misuse of issued incentive, e-report generation, a centralised database, factory geo-location tagging, industry qualification status validation, and inter- ministries department and agency (MDA) integration.


Mr Edun stated further that a webinar would be conducted on Tuesday, 23 April 2024, to provide clarity on the revised IDEC process.


He therefore called on all key industry stakeholders, including manufacturers, importers, MDAs, NGOs to attend, stating that the link for the webinar would be published on the Ministry of Finance website, and on the IDEC’s YouTube channel.


     Signed 

Mohammed Manga *FCIA*

Director, Information & Public Relations 

April 15, 2024

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