Ogun Govt. Cavasses For State’s Inclusion In Non-Oil Revenue

Ogun Govt. Cavasses For Inclusion In Non-Oil RevenueThe Ogun State government has advocated the need for the Federal Government to enlist the state among the beneficiaries of the non-oil revenue of the nation, giving its huge contribution to the sector.

The State Commissioner for Commerce and Industry, Mr Bimbo Ashiru, made the request at a town hall meeting with stakeholders in the mining sector in Abeokuta, the state capital.

He noted that the request became imperative as the state had now become the leading mining exploration state in the federation.

He said: “Nigeria produced about 43 million tons of solid minerals in 2016, out of which Ogun state contributed the highest tons among the 36 states and the FCT.

“The figure represents 37.65% of the total tons of solid minerals produced in the country for year 2016.

According to him, this status should qualify the state to benefit from 13% derivation formula accruable from the federation account, noting that diversifying the economy through the development of solid mineral was essential to overcome the challenges associated with the drop in oil revenue.

He further explained that the meeting was to interact with all relevant stakeholders in the sector in order to exchange ideas on the best way to maximize the state’s potentials.

In his speech, the Chairman of Mineral Resources and Environmental Management Committee (MIREMCO), Mr Dapo Egbeyemi, commended the state for leveraging on its vast available solid mineral deposits to earn more revenue.

Ogun Govt Begins Harmonisation Of Various Taxes

Naira, dollar, Market FX marketThe Ogun State government has appointed 12 consultants for the collection of taxes to eliminate activities of touts and illegal collectors. 

It is part of the process of harmonising the various taxes payable in the state, the government says.

At the signing of a Memorandum of Understanding between the State government and the tax consultants, the State Commissioner for Commerce and Industry, Mr Bimbo Ashiru, said the decision is also targeted at increasing the Internally Generated Revenue for more development.

With this development, the State government is shifting focus from revenue and receipt from the Federation Account to finance the 2017 budget in the state, the Commissioner stated.

According to him, the implementation was necessary to harmonise taxes usually paid by the owners and operators of trucks involved in haulage of goods in the state.

He said: “When we came in, we just found out that different people are just collecting different taxes and putting spikes on the roads, and decided that this is ridiculous. This is not fashionable anymore. We decided that the only thing we can do is to harmonise the taxes.

“There are so many corporate organisations in the state, this is the industrial hub of the country today. We have over 400 factories and so many are still coming up. The only thing we can do is to have Corporate Haulage Team and give them revenue stickers and compile the list of all the trucks that we have in the state. For example, we have Corporate organisations that have as much as 1,000 trucks.

“So, they are going to be the ones (tax consultants) to get the tax, they are corporate collectors. We are looking at almost one billion Naira and they are all segregated and all we are doing is being backed by Law, it was passed in the State House Assembly.”

The Chairman of Ogun State Internal Revenue Service (OGIRS), Mr Adekunle Adeosun, told reporters that the harmonisation of taxes in haulage sub-sector and the appointment of tax consultants by the government would open several windows of taxation-based revenue for the State government.

He pointed out that although tax would be collected by the Ministry of Commerce and Industry, consultants would also pay Personal Income Tax (PIT) and Pay-As-You-Earn (PAYE) as soon as they start operation.

“We are very sure that the tax scheme is going to be successful. On their own part (Ministry of Commerce and Industry), theirs will be haulage tax, but the tax consultants will be paying us (Ogun State Internal Revenue Service) soon, your Personal Income Tax and PAYE for your workers since the scheme will create wealth and employment,” he stated.

Earlier, the Managing Director, Daaz Global Freight Limited, Kayode Sijuade, who spoke on behalf of the appointed consultants, noted that the struggle to harmonise haulage tax started in 2014 and was envisaged to create wealth for government and the appointed consultants and to create employment opportunities for teeming youths.

He told reporters that the selling of revenue stickers, ranging from 500 Naira to 2,000 Naira would also provide employment for would-be vendors.

The appointment of 12 haulage tax collectors was implemented by the government following legislation on the ‎harmonisation of various taxes, especially as regards haulage of goods across the state, as jointly handled and supervised by the Ministry of Commerce and Industry, Internal Revenue Service, Ministry of Finance and Ministry of Justice with a view to boosting revenue.

Ogun Govt. Records Success Of Present Administration

Araya Scale Up, Ibikunle Adekunle, Ogun StateThe Ogun State Government, South West Nigeria, says it has attracted over a 100 companies with well over 515 billion Naira Foreign Direct Investment in the last five years of the present administration in the state.

The State Commissioner for Commerce and Industry, Mr Bimbo Ashiru made the disclosure while on the inspection tour of a private company at the Isheri area of the state.

While assuring business owners, investors in the state of adequate security and conducive atmosphere for business growth and development, the Commissioner was quick to ask them to always fulfill their social responsibilities to communities where they operate.

He also expressed the readiness of the state to collaborate with private sector in the development of infrastructure across the state.

Ogun State Govt. Set To Reform Industrial Sector

Industrial sector, Ogun stateThe Ogun State Government has affirmed the readiness of the government to deepen reforms in the industrial sector of the state economy, to attract more foreign direct investment to the state.

The Commissioner for Commerce and Industry, Mr Bimbo Ashiru, made the disclosure in Abeokuta, the state capital during the 3rd annual retreat on the promotion of industrialization, organized by the Ogun State Ministry of Commerce and Industry.

Mr Ashiru challenged participants to be up and doing as the state makes giant stride in the industrialization drive.

He said that the state has grown its foreign direct investment to a level of no return.

As a strong emerging economy in the country, he noted that Ogun State has been named among the top five states where businesses are done with ease.

But while the state is proud of this feat, the state government was asked to evolve reforms in some sectors to further reduce the challenges of doing business in the state.

Guest Lecturer, Wole Adeyanju, challenged the state government to create a specialized commercial court to effectively deal with industrial disputes and improve protection for small businesses operating in the state.

The 3rd edition of the retreat was attended by the commissioners, the Head of Service and senior members of the Ministry of Commerce and Industry.

It was to evaluate past performances of government in its industrialization drive and proffer ways of doing business in the state with ease, as well as equipping officers with requisite knowledge to fast track industrial development.

At the end of the retreat, participants are expected to come out with new ways and resolutions that would aid and ensure industrial promotion of the state.

Ogun Government Creates Jobs Through SMEs

Ogun-SMEs-JobsThe Ogun State government says it has created at least 13,000 direct jobs and 91,000 indirect jobs.

The government said that it was able to make the feat through the one billion Naira joint Ogun State and Bank of Industry (BOI) revolving loans awarded to beneficiaries at 7% interest.

The Ogun State Commissioner for Commerce and Industry, Mr Bimbo Ashiru, made the disclosure on Wednesday at the maiden Small and Medium Enterprises event, held at the Valley View Auditorium of the Government House in southwest Nigeria.

In her remark at the one day event, the Ogun State Deputy Governor, Mrs Yetunde Onanuga, urged participants to make use of the various initiatives being put in place by the state government to develop their businesses in conformity with the present economic realities.

She implored them to always discharge their civic responsibilities of paying their taxes and levies.

The event, tagged “Making SMEs a Valuable Addition to the Nigerian Commonwealth”, was organised by the Ogun State Ministry of Commerce and Industry.

Ogun State Partners With Export Promotion Council On Cassava, Others

amosunThe Ogun State Government, in south west Nigeria, has expressed its readiness to partner with the Nigerian Export Promotion Council in its cassava,cotton and cashew production.

The State Government partners with the company in its value chains through the One State, One Product initiative of the Federal Government aimed at diversifying the nation’s economic base.

The expression of interest was communicated by the State Commissioner of Commerce and Industry, Mr Bimbo Ashiru, at the follow up meeting on the ‘One State, One Product’, held at the conference hall of the State Ministry of Commerce and Industry in Abeokuta, Ogun State capital, on Tuesday.

According to the Commissioner, the state is targeting an average of one million tonnes of cassava annually, expected to provide about,100,000 direct and indirect jobs.

The meeting agreed that it was time to intensify effort towards making Nigeria an export dependent nation as against import dependent in the face of dwindling fortunes of oil in the international market.

Addressing the meeting, the Lagos Zonal Controller of the Nigerian Export Promotion Council, George Onyekpo, challenged the government at all levels to provide the much needed political will to improve foreign direct earnings for the country.

Ogun State MAN Urges CBN To Reduce Interest Rates On Loans

Treasury bills-nigeriaMembers of the Manufacturers Association of Nigeria, (MAN) in Ogun State, South West Nigeria have appealed to the Central Bank of Nigeria (CBN) to urgently compel banks across the country to reduce the 25% interest on loans and overdrafts.

The association made the call in Abeokuta, the Ogun State capital during the 6th quarterly meeting of the body with the state government where issues affecting business operatives in the state are addressed to improve the business environment in the state.

This was in the wake of the downward review of the Monetary Policy Rate (MPR) from 13% to 11%.

Addressing the gathering, the State Commissioner  for Commerce and Industry, Mr Bimbo Ashiru, appealed to members of the association to support the ongoing effort by states and federal government towards translating the country from importing to exporting dependent economy to stimulate economic recovery and development.

They also asked the state government to urgently address the challenges of basic  infrastructure and security.

Ogun To Launch Haulage Stickers To Address Multiple Taxation

Ogun state government is taking steps to eliminate multiple taxation with the launch of state haulage stickers by the state’s Ministry of commerce and industry.

Commissioner for Commerce and Industry, Mr Bimbo Ashiru, while launching the stickers at the state secretariat, said the move became necessary in order to stop leakages, corruption and eliminate multiple taxation in the system.

He noted that the stickers will address the trouble of multiple taxation and checks by diverse agencies in the state.

The exercise designed for corporate organizations, associations and individuals is expected to take effect by the first of July.