FG to reduce import duties on buses, tractors | 5 Things That Should Matter Today
FG to reduce import duties on buses, tractors
The Federal Government is set to reduce the import duties and levies of buses, tractors and other motor vehicles with the 2020 finance bill.
The federal executive council approved the bill at its meeting on Wednesday. After the meeting, Zainab Ahmed, minister of finance, budget and national planning, said the bill will now be sent to the national assembly for consideration and passage into law.
Theses reforms will commence and will also be closely followed by the cessation rules for small businesses as well as providing incentives for mass transits by reducing import duties and the levies for large tractors, buses and other motor vehicles. The reason for us is to reduce the cost of transportation which is a major driver of inflation especially food production,” she said.
FEC approves Finance Bill 2020
The Federal Executive Council (FEC), presided over by President Muhammadu Buhari on Wednesday approved the Finance Bill 2020, to support the 2021 Budget.
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, who disclosed this to State House Correspondents after the FEC meeting, emphasised that the bill is designed to bring about incremental changes in the nation’s tax laws.
She also pointed out that some taxes had already been reduced saying: “In the last Finance Bill 2019, we reduced taxes from 30 percent to 20 percent for enterprises that have turnover of between N25 to N100 million.”
Nigerian embassy in Germany suspends staff member
The Nigerian embassy in Germany has suspended its staff member who was caught on video allegedly soliciting sex in exchange for a passport.
In the viral video on social media, the unnamed staff member of the Nigerian embassy was seen in a hotel where he had allegedly planned to meet a woman for sex in exchange for her passport.
In a statement on Tuesday, the embassy said the suspension is with immediate effect so as to probe the allegations of sexual abuse and other criminal activity.
Ooni of Ife welcomes son with wife
The Ooni of Ile-Ife, Oba Adeyeye Enitan Ogunwusi has welcomed a son with his wife, Olori Moronke Naomi Silekunola.
The monarch took to social media to break the good news; adding that both mother and child are well.
He said, “To God be the glory great things he has done. Hearty congratulations to the entire House of Oduduwa and Olori Silekunola who today birthed a Prince to the Royal throne of Oduduwa. Mother and child are doing well to the glory of God Almighty.”
NCDC confirms 236 new COVID-19 cases