• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

      EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

  • Fact-Check
  • Economy
    • Comptroller General Nigerian Customs Bashir Adewale

      Nigeria Customs Takes Anti-Money Laundering Fight to the Skies

      Comptroller General Nigerian Customs Bashir Adewale

      Nigeria Customs, ICPC and the Audit of Conscience

      Customs Diplomacy: Nigeria, Saudi Arabia Ink Mutual Assistance Deal

      Comptroller General Nigerian Customs Bashir Adewale

      Nigeria, Belarus Forge Alliance to Combat Smuggling, Facilitate Trade

      President Bola Ahmed Tinubu and CG Customs, Bashir Adewale Adeniyi

      Tinubu Hails Customs Boss Wale Adeniyi on Historic Election as WCO…

  • National
    • ASUU

      “No Pay, No Work”: ASUU Orders Members to Commence Nationwide Strike

      Nigerian Navy's newest landing ship tank launched in Sharjah, UAE.

      From Lake Chad to the Atlantic: The Nigerian Navy’s Rise as…

      Police Officer

      Police Bust Kidnapping, Cult Gangs, Arrest 8 Suspects, Recover Weapons

      Shittu Yunus Shittu

      Can Nigeria Lead Africa’s AI Revolution? By Shittu Yunus Shittu

      162 years of the Nigerian Army celebrations

      The First Shot and the Long March: Reflections on 162 Years…

    • Government
      • ASUU

        “No Pay, No Work”: ASUU Orders Members to Commence Nationwide Strike

        NPF Champions Regional Security Collaboration as IGP Attends 13th AFRIPOL Meeting…

        At BRICS Summits, Tinubu Pushes for Equality in Global Finance, Health…

        Tinubu conference centre generates N700m in 3 weeks – Wike

        Soldiers

        Soldiers, forest guards to tackle insecurity in Kwara State

  • Security
    • Nigerian Navy's newest landing ship tank launched in Sharjah, UAE.

      From Lake Chad to the Atlantic: The Nigerian Navy’s Rise as…

      NPF Champions Regional Security Collaboration as IGP Attends 13th AFRIPOL Meeting…

      Police Officer

      Police Bust Kidnapping, Cult Gangs, Arrest 8 Suspects, Recover Weapons

      NDLEA Logo

      NDLEA Destroys Cannabis Farms, Seizes 345kg of Drugs, Arrests 37 Suspects…

      NAF Airstrikes, NAF Air, NAF jets

      Scores of Terrorists Eliminated as NAF Bombs Boko Haram Camps in…

  • Features
    • Nigerian Navy's newest landing ship tank launched in Sharjah, UAE.

      From Lake Chad to the Atlantic: The Nigerian Navy’s Rise as…

      What Life Really Looks Like for Nigerians Battling Sickle Cell, By…

      Shittu Yunus Shittu

      Can Nigeria Lead Africa’s AI Revolution? By Shittu Yunus Shittu

      162 years of the Nigerian Army celebrations

      The First Shot and the Long March: Reflections on 162 Years…

      From SDP to ADA to ADC: Can the New Opposition Coalition…

  • State
    • NPF Champions Regional Security Collaboration as IGP Attends 13th AFRIPOL Meeting…

      NDLEA Logo

      NDLEA Destroys Cannabis Farms, Seizes 345kg of Drugs, Arrests 37 Suspects…

      NAF Airstrikes, NAF Air, NAF jets

      Scores of Terrorists Eliminated as NAF Bombs Boko Haram Camps in…

      Troops of Operation FANSAN YANMA

      Troops Foil Coordinated Bandits Attacks, Rescue Kidnap Victims in Katsina

      The suspected notorious Militia member

      Troops Nab Notorious Militia, Recover Weapons in Plateau State

  • Event
    • Asiwaju Adegboyega Solomon Awomolo

      47 Years of Excellence: Honoring Asiwaju Awomolo, SAN

      NCoS inmates

      58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to…

      Troops of the Nigerian Army giving a salute

      162nd Anniversary: Tinubu Salutes Nigerian Army, Hails Troops as Guardians of…

      President & Chairman of Governing Council, Dr. Ike Neliaku

      NIPR Lauds Nigerian PR Firms for Outstanding Performances at 2025 SABRE…

      SCN NGO signs partnership with PRNIGERIA

      SCN NGO Seals Partnership with PRNigeria to Amplify its Humanitarian Projects

    • PR Nigeria Award
  • E-Paper
Home Economy Arewa Economic Forum Calls for VAT Replacement with Sales Tax, Urges Revival...
  • Economy
  • National

Arewa Economic Forum Calls for VAT Replacement with Sales Tax, Urges Revival of Kolmani Oilfield

By
Prnigeria
-
November 1, 2024
Ibrahim Dandakata Arewa Economic Forum AEF
Ibrahim Dandakata Arewa Economic Forum AEF

Arewa Economic Forum Calls for VAT Replacement with Sales Tax, Urges Revival of Kolmani Oilfield

The Arewa Economic Forum (AEF), a leading socio-economic organization in Northern Nigeria, has advocated for the replacement of the Value-Added Tax (VAT) system with a Sales Tax. This shift, according to the forum, would simplify tax processes, ease the financial burden on businesses and individuals, and foster economic growth across the region.

At a recent press conference in Abuja, AEF Chairman Ibrahim Shehu Dandakata highlighted the current VAT structure’s limitations, proposing a streamlined Sales Tax collected at the point of sale. He argued that such a change would broaden the tax base by bringing more businesses into the tax fold, thus enhancing revenue collection and ensuring a fairer distribution of funds across regions based on economic contributions.

In addition to tax reform, Dandakata expressed dismay over the stalled Kolmani Oilfield project in Bauchi State. The abandonment of this project, he said, represents a missed opportunity for revenue generation, economic development, and job creation in northern Nigeria. Dandakata underscored the forum’s ongoing dialogue with the Federal Government, advocating for the establishment of one of four proposed 100,000-barrel-per-day refineries in the Kolmani region by South Korean investors. This development, he noted, would not only lower refining and transportation costs but also help meet the energy needs of northern Nigeria, thereby reducing regional energy disparities.

Read Also:

  • “No Pay, No Work”: ASUU Orders Members to Commence Nationwide Strike
  • From Lake Chad to the Atlantic: The Nigerian Navy’s Rise as a Force for National and Continental Stability By Musa Ilallah
  • NPF Champions Regional Security Collaboration as IGP Attends 13th AFRIPOL Meeting in Algeria

Dandakata revealed that the Kolmani Integrated Development Project has already attracted substantial foreign direct investment (FDI), amounting to an estimated $3 billion. The project envisions a comprehensive industrial ecosystem, including a 120,000-barrel-per-day refinery, a gas processing plant, a 300-megawatt power facility, and a fertilizer production plant. This infrastructure, he emphasized, could transform the economic landscape of northern Nigeria, creating thousands of jobs and driving industrial growth.

On security, Dandakata commended recent government efforts to tackle banditry in the region. However, he called for increased action against terrorism and organized crime, which continue to hinder regional development by causing infrastructure damage and forcing communities to abandon farmland. He highlighted the vital role of stability and security in enabling northern Nigeria to unlock its agricultural, commercial, and mining potential, crucial for the country’s broader economic well-being.

Dandakata also urged all levels of government to implement policies that would enhance food affordability and address food inflation, especially given the direct link between insecurity and food prices. According to him, stabilizing agricultural production will alleviate food scarcity and improve living standards across the region.

In a broader plea, the AEF Chairman warned against actions by state actors and individuals that undermine democratic principles, especially the manipulation of judicial processes. He stressed that such actions pose a risk to democratic values and the nation’s stability, emphasizing that preserving democratic norms is essential to fostering a prosperous and resilient Nigeria.

Dandakata concluded by reaffirming the Arewa Economic Forum’s commitment to advocating for policies that uplift the Arewa community and drive sustainable socio-economic progress across Nigeria.

By PRNigeria

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Arewa Economic Forum (AEF)
  • Dandakata
  • Kolmani
  • Oil
  • VAT
Previous articleBUK Alumni, PRNigeria Centre Unite for Groundbreaking Conferences in Abuja
Next articlePantami Wants IGP to Investigate Alleged Maltreatment of Children in Viral Video
Prnigeria
Prnigeria

RELATED ARTICLESMORE FROM AUTHOR

ASUU

“No Pay, No Work”: ASUU Orders Members to Commence Nationwide Strike

Nigerian Navy's newest landing ship tank launched in Sharjah, UAE.

From Lake Chad to the Atlantic: The Nigerian Navy’s Rise as a Force for National and Continental Stability By Musa Ilallah

Comptroller General Nigerian Customs Bashir Adewale

Nigeria Customs Takes Anti-Money Laundering Fight to the Skies

Police Officer

Police Bust Kidnapping, Cult Gangs, Arrest 8 Suspects, Recover Weapons

Shittu Yunus Shittu

Can Nigeria Lead Africa’s AI Revolution? By Shittu Yunus Shittu

162 years of the Nigerian Army celebrations

The First Shot and the Long March: Reflections on 162 Years of the Nigerian Army By Olayemi Esan

Asiwaju Adegboyega Solomon Awomolo

47 Years of Excellence: Honoring Asiwaju Awomolo, SAN

NCoS inmates

58 Inmates in Kano Sit for 2025 NECO Exams, Thanks to State Government

Tinubu conference centre generates N700m in 3 weeks – Wike

Police Arrest 43 Illegal Immigrants, Human Traffickers, Rescue Victim

Multichoice logo

NDPC Fines MultiChoice ₦766m for Data Protection Breach in Nigeria

Abdullahi Aliyu Maiwada

Customs Debunks Fake CBT Recruitment Shortlist Circulating Online

Recent Posts

  • “No Pay, No Work”: ASUU Orders Members to Commence Nationwide Strike
  • From Lake Chad to the Atlantic: The Nigerian Navy’s Rise as a Force for National and Continental Stability By Musa Ilallah
  • NPF Champions Regional Security Collaboration as IGP Attends 13th AFRIPOL Meeting in Algeria
  • Nigeria Customs Takes Anti-Money Laundering Fight to the Skies
  • What Life Really Looks Like for Nigerians Battling Sickle Cell, By Hafsat Ibrahim
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
"No Pay, No Work": ASUU Orders Members to Commence Nationwide StrikeFrom Lake Chad to the Atlantic: The Nigerian Navy’s Rise as a Force for National and Continental Stability By Musa IlallahNPF Champions Regional Security Collaboration as IGP Attends 13th AFRIPOL Meeting in AlgeriaNigeria Customs Takes Anti-Money Laundering Fight to the SkiesWhat Life Really Looks Like for Nigerians Battling Sickle Cell, By Hafsat IbrahimPolice Bust Kidnapping, Cult Gangs, Arrest 8 Suspects, Recover WeaponsNDLEA Destroys Cannabis Farms, Seizes 345kg of Drugs, Arrests 37 Suspects in EdoGroup Condemns Amaechi’s Comment as Inciteful, DangerousScores of Terrorists Eliminated as NAF Bombs Boko Haram Camps in Mandara MountainsTroops Foil Coordinated Bandits Attacks, Rescue Kidnap Victims in KatsinaNAF Airstrikes Crush Terrorist Camps in Mandara Mountains, Kill Senior JAS FightersAt BRICS Summits, Tinubu Pushes for Equality in Global Finance, Health SystemsTroops Nab Notorious Militia, Recover Weapons in Plateau StateCan Nigeria Lead Africa’s AI Revolution? By Shittu Yunus ShittuTinubu to Troops: You Have My Full Backing to Crush Terrorists, Separatists
X whatsapp