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Prof Sanni Praises Tinubu’s Bold Move To Suspend 2023 Finance Act

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According to Prof. Abiola Sanni, a professor of Commercial Law at the University of Lagos, President Bola Ahmed Tinubu’s recent decision to suspend the 2023 Finance Act, as well as telecoms, import, and other taxes, demonstrates a strong political determination to enhance Nigeria’s business environment.

 

Sanni shared this viewpoint during a Channels Television interview on Friday.

 

The professor, who specializes in tax and fiscal policy, highlighted that Tinubu’s issuance of four executive orders to halt the imposition of arbitrary taxes would provide immediate relief for stakeholders in the country’s economy.

 

In addition, Prof. Abiola Sanni also expressed optimism regarding the potential of the green tax. He emphasized that this particular aspect holds promise and should be further explored and developed.

 

He said “It demonstrates political will from the highest level to arrest the drift. I thank the president for coming through for stakeholders. Also, kudos to the stakeholders for their doggedness.

 

“It is a step in the right direction. But this is not about suspension but also about postponing commencement day because enforcing the 2023 Finance Act is already problematic.

 

“While stakeholders would clamour for total abolition, I think what we have now offered some reprieve, bearing in mind this new Administration is just settling; there are no ministers in place.

 

“It is a measure to buy time for consultation. There are aspects of the Finance Act that need to be thrown away. For instance, I don’t believe in the 5 per cent tax for telecoms because clearly, that is double taxation but an aspect of green tax offer some promise,”

 

Recall that the president had on Thursday issued four executive orders to suspend the implementation of the 2023 Finance Act, Corporate, import, export, vehicle and other taxes. As reported by BIZTELLERS.

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JUST IN: Tinubu En Route To Ramaphosa’s Inauguration

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President Bola Tinubu departed Lagos at 11:06 a.m. on Tuesday for Pretoria, South Africa, where he will attend the re-election inauguration of President Cyril Ramaphosa.

Before his departure, Tinubu was seen off at the Murtala Muhammed International Airport, Ikeja, by Lagos State Governor Babajide Sanwo-Olu and other dignitaries.

Traveling in style aboard a Dassault Falcon 8X aircraft with registration number 9H-GRC, President Tinubu is expected to return to Nigeria after the ceremony concludes.

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JUST IN: Pro-Wike Chairman Chased By Angry Youths In Rivers [Video]

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Allwell Ihunda, Chairman of the Association of Local Government of Nigeria (ALGON), Rivers State, who is also overseeing Port Harcourt City Local Government Area, hastily retreated when confronted by protesting youths at the council’s headquarters on Tuesday.

Accompanied by aides and security personnel, Ihunda was en route to the council premises when aggrieved youths obstructed his path, forcing him to disembark from his vehicle.

The situation quickly escalated as the youths advanced towards him, prompting his security team to fire warning shots into the air to disperse the crowd.

In a bid to evade the growing confrontation, Ihunda swiftly boarded a black SUV with his aides and departed the scene, while disgruntled youths chased after his convoy.

Vehicles purportedly belonging to his aides also hurriedly followed suit.

Throughout the incident, some of the protesting youths vocally expressed their frustrations, shouting remarks like, “That’s him, Allwell. Chase him. Who is he? Look at him! Mayor is running. Chase him!  Don’t run, come you will see pressure. We are not afraid of you.”

Despite efforts by his security team to calm the situation and quell the unrest, the youths persisted, questioning, “Why is he running?”

Amid a legislative dispute, the State Chairman of the ALGON had refused to vacate office following the expiration of his tenure on June 17th.

The LG chairmen, elected during Governor Nyesom Wike’s administration, cited the local government amendment law passed by the Martin Amaewhule-led House of Assembly as justification for their decision.

This law extended their tenure by six months due to Governor Siminlayi Fubara’s failure to conduct local government elections.

See video below:

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R/State Tense As Police Deny Viral Shooting Video

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The Rivers State Police Command has rebutted allegations of its officers being involved in a shooting incident during a protest in Port Harcourt.

Viral video clips circulating online captured moments of sporadic gunfire as Ijaw youths gathered at the Port Harcourt City Council secretariat to demonstrate against arbitrary tenure elongation by local government chairmen.

Ichemanti, a prominent leader among the Port Harcourt City youths, claimed that the Police shot at one of the protesters during the demonstration.

However, Rivers Police Public Relations Officer, Grace Iringe-Koko refuted the accusations.

She clarified that the Police presence was solely to maintain peace and asserted that the video evidence did not show officers discharging firearms.

Iringe-Koko stated, “If you can see clearly in that video, there is no policeman shooting there. You can see them peacefully moving around there because they are there to forestall the breakdown of law and order. So there is no shooting.

“Let’s stop circulating false stories. That you heard gunshots doesn’t mean the police are shooting. If there was any shooting, you would have seen casualties.”

Addressing queries about the source of the gunfire, the PPRO remarked, “Neither you nor I were present, but I can assure you that the Police deployed to the area did not fire any shots.”

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