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FG Reverses Policy Of 40% Deductions From Nigerian Varsities’ IGR

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The federal government has announced the reversal of the implementation of payment of 40 per cent of Internally Generated Revenue (IGR) from Nigerian universities to the government.

President Bola Tinubu announced this at the 75th anniversary and 2023 convocation ceremonies of the University of Ibadan on Friday.

Mr Tinubu, represented at the event by the Minister of Education, Tahir Mamman, said the Ministry of Finance had been engaged to stop the circular for the implementation.

“We know that this law was enacted in 2020, and the circular was issued in 2021, but this is not a good time for such a policy,” he said.

Mr Tinubu reiterated his commitment to the education sector in line with the 2030 education agenda of the government and African Union goal 2063.

He said, “The federal government is bringing more innovation to reform the entire education sector for curriculum review at all levels from primary to basic education with the reintroduction of skills to attend to out-of-school menace.”

The president noted that the introduction of student loans was to ensure that no student was left out of education due to poverty.

Mr Tinubu stated that he was aware of the problem of industrial disputes of the past; hence, his administration would pay attention to issues of welfare and all factors generating industrial disputes.

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APC Did Not Invite Me To Okpebholo’s Inauguration — Obaseki

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Governor Godwin Obaseki of Edo has accused the All Progressives Congress (APC) in the state of planning the inauguration of a new administration without consulting the government and inviting him to the event.

Obaseki’s Peoples Democratic Party (PDP) lost in the Edo Governorship election held in September with the APC’s Monday Okpebholo beating Asue Ighodalo – the governor’s favoured candidate.

Days before the inauguration (set for November 12) of a new government, Obaseki claimed the APC was working without the involvement of his administration for the handover.

“We have a process in government, they stole our mandate, yes but we have laws, and there is a way things are done. We are inaugurating a new government in Edo State and the Edo State Government is not involved,” the governor said on Friday in Benin City during the inauguration of the caretaker committee of the PDP in the state on Friday.

“People behave as if there is no law, forgetting that we are guided by constitution and law; there are procedures to handle things. They are doing an inauguration and the governor is not even invited. It is like they are starting a brand new government and a brand new state.”

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‘Misleading’: Remi Tinubu Refutes Claims Of Organising National Prayer

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The First Lady Remi Tinubu has refuted claims that she is organising a national prayer over the country’s economic challenges.


Claims were making the rounds on several platforms that the First Lady in conjunction with others was planning a prayer session for the country.

But Busola Kukoyi, the spokesperson to the First Lady, has described the claims as not only misleading but also unfounded.

“This is to clarify and inform the general public that the First Lady of Nigeria, Her Excellency, Senator Oluremi Tinubu, CON is not organizing a National Prayer,” she said in a Saturday statement.

“The news making rounds in some conventional and social media platforms is unfounded and misleading. Consequently, anyone who might have come across the purported news of the joint National Prayer for Nigeria should disregard it as false.”

Warning people to verify the authenticity of news about her principal, Busola, however, said the First Lady understands the importance of praying for the country.

“Whilst the First Lady, a Christian and strong advocate of prayer and praying for Nigeria believes that prayer is an act that must be done willingly, conscientiously and correctly. She also believes that praying for Nigeria is the responsibility of every Nigerian, irrespective of religious belief, political affiliation, tribe or tongue,” the media aide added.

“Members of the public are advised to verify the authenticity of any news or event involving the First Lady of Nigeria or her Office through Official channels.
Kindly be advised accordingly.”

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Probe Into UK Royals’ Private Estates Sparks Calls For Reform

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Britain’s royal family is facing calls for more transparency and reform of their private estates after an investigation alleged they have been profiting from public bodies while benefiting from major tax exemptions.

The UK media probe also accused the estates of King Charles III and his eldest son Prince William of making big profits from charities and individual renters while in some cases failing to meet environmental standards.

The centuries-old estates — the Duchies of Lancaster and Cornwall — have made millions of pounds (dollars) from lucrative deals with the publicly-funded National Health Service (NHS) and other cash-strapped ministries, according to the investigation.

 

Britain’s King Charles III and Jordan’s King Abdallah II inspect a Guard of Honour formed of the 1st Battalion Welsh Guards, during a ceremonial welcome at Windsor Castle, in Windsor on November 7, 2024. (Photo by Andrew Matthews / POOL / AFP)

Both estates — portfolios of land, property and assets across England and Wales held in trust for the king and his heir — are exempt from paying UK corporation or capital gains taxes.

The extent of their holdings and commercial deals, such as lease agreements, is not publicly disclosed.

But the probe by UK television network Channel 4’s Dispatches programme and The Sunday Times claims to have uncovered them for the first time.

 

 

Britain’s King Charles III speaks with guests during a reception for medallists from the Paris 2024 Olympic and Paralympic Games at Buckingham Palace in London on November 7, 2024. (Photo by Yui Mok / POOL / AFP)

It has prompted calls for a review by parliament as well as demands by pro-republicans for the duchies to be abolished.

Norman Baker, a former lawmaker from the centrist Liberal Democrats party and longtime royal critic, told AFP the findings confirmed his view that the royals were “taking the public for a ride”.

“These are Crown lands which belong to the public… all that money should be going into the Crown Estate, which is a public asset,” he said.

 

– ‘Pursuing profit’ –

The royals have long maintained that profits from the duchies fund their public, charitable and private activities.

The duchies, owned by the monarchy since the Middle Ages, were not part of a 1760 agreement which sees the monarch’s Crown Estate profits surrendered to the government.

Fifteen percent of those profits are returned as a Sovereign Grant, which pays for official engagements, staff salaries and the royal palaces’ upkeep.

Next year the grant will total £132 million ($171 million).

 

Britain’s Birgitte, Duchess of Gloucester speaks with guests during a reception for medallists from the Paris 2024 Olympic and Paralympic Games at Buckingham Palace in London on November 7, 2024. (Photo by Yui Mok / POOL / AFP)

 

Baker notes the vast private estates were not included in that arrangement because at the time they did not generate much income.

But two centuries on, their assets are worth £1.8 billion, with profits topping £50 million in 2023, according to their annual reports.

It has helped keep Charles on The Sunday Times Rich List, which ranks the 1,000 wealthiest people or families in the UK, with an estimated worth of £610 million.

Lucrative deals leasing land to the crisis-hit NHS, armed forces, publicly-funded schools, charities and renters have boosted his bottom line, according to the media probe.

In one example, Charles’ estate will earn nearly £12 million over 15 years storing a new fleet of electric ambulances owned by a London hospital in one of its warehouses.

 

Britain’s Princess Anne, Princess Royal (C) speaks with guests during a reception for medallists from the Paris 2024 Olympic and Paralympic Games at Buckingham Palace in London on November 7, 2024. (Photo by Yui Mok / POOL / AFP)

 

 

In another, William’s estate will net £37.5 million over 25 years from the Ministry of Justice for leasing the currently empty Dartmoor Prison.

Graham Smith, head of anti-monarchy pressure group Republic, said the investigation “shows how the duchies are doggedly pursuing profit at every turn, at huge expense to the public and charities”.

The duchies have denied any wrongdoing.

– ‘Within the law’ –

It is not the first time that they have stoked controversy.

In 2006, an influential parliamentary committee pressured the government over why they benefit from major tax exemptions.

Baker said the Public Accounts Committee should refocus on it.

“It’s only under pressure like that that they’ll change,” he added.

“Unless they’re forced into doing something, they won’t do it.”

The former MP believes the royals are “in danger of losing public support big time” over the issue.

But David Haigh, head of consultancy firm Brand Finance, argued the duchies are operating like “any large aristocratic family estate”.

“Is it really unreasonable for them to expect market rate rents when they rent properties to government agents and departments? In my opinion it’s not.”

Haigh added the estates were “simply acting within the law in the best interests of their private capital,” comparing them to successful entrepreneurs like James Dyson and Richard Branson.

 

AFP

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