The many challenges facing the business environment, especially the indiscriminate taxes and levies imposed by the various levels of government in Nigeria can be explained in one way: /1 #easeofdoingbusiness
We have too many people who have not run any successful business running this country. They only understand plunder (rent seeking). It is the same SARS mentality. "Let us collect from the persons who seem to have more than we do" /2 #easeofdoingbusiness
When you have a predominance of lazy people running your country at various levels, this is what you get. Worse still, these levies they collect hardly deliver any benefit to the society. They simple siphon them for themselves and their cronies./3 #easeofdoingbusiness
The most important piece of legislation (besides the Constitution) that seeks to address this issue is the."Taxes and Levies (Approved List for Collection) Act Cap T2, LFN 2004". #easeofdoingbusiness /4
I'll post below, excerpts from the yet to be published Report: "MAPPING AND ANALYSIS OF FEDERAL
POLICIES, LAWS, REGULATIONS AND BILLS RELEVANT TO TRADE AND COMPETITIVENESS OF MSMES IN NIGERIA" /5 #easeofdoingbusiness
The referenced Report was produced by us @trade_advocacy with the support of GIZ and EU funded Nigeria Competitiveness Project (NICOP) for use in advocacy by various MSMEs stakeholders. /7
So, how do we proceed from here? It is obvious that a legislative intervention at the national level is required to streamline and harmonise taxes and levies, including mode of collection, across the country. /8
In the case of the @AmacLg and @OfficialFCTA, there is urgent need for the Minister @MuhdMusaBello and the FCT Committees of the National Assembly to reign in the excesses of the AMAC and the FCTA /9 #easeofdoingbusiness
These bodies keep devising new taxes and levies, use multiple officials or consultants on the same tax/levy, arm-twist businesses using the magistrate courts, etc. Their methods are as obnoxious as the levies they impose /10 #easeofdoingbusiness
For one, businesses hardly know what taxes/levies are legal because the laws are not easily accessible. There is no website where you can find the list of taxes/levies for the FCTA and AMAC/other Area Councils respectively, the amount and mode of payment /11 #easeofdoingbusiness
I have dealt with a case where the procedure was totally in violation of the enabling law (which I was only able to see when I went to the revenue office that served the notice)/11 #easeofdoingbusiness
This lack of transparency provides the cover under which the various revenue agents are able to extort and intimidate business owners in the FCT. /12 #easeofdoingbusiness
It is important to mention that sadly, in spite of all the work being done by @joduwole and her team at @bmenigeria to carry the states along, most states in Nigeria are yet to imbibe the tenets of #easeofdoingbusiness. /13
Once again, I call on the Honourable Minister @MuhdMusaBello and the relevant Committees of the @nassnigeria as the custodians of the legislative powers of the FCT to immediately initiate a process towards reforming this anomaly. #easeofdoingbusiness. END
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Nigeria's Federal Executive Council (FEC) on Wed. approved the ratification of the Agreement Establishing the African Continental Free Trade Area ("AfCFTA Agreement"). This thread examines some legal issues around ratification of international agreements in Nigeria./1 #AfCFTA
Under the Nigerian legal system, ratification is an executive act. It does not require the approval of the National Assembly. /2 #AfCFTA#Nigeria
There is a second step normally referred to as 'domestication' - a process through which an international agreement becomes applicable in the national courts. /3 #AfCfTA#Nigeria