NASU demands tax exemption for workers

go through bimbola oyesola, [email protected]

and Due to inflation and rising cost of living, the Non-Academic Employees Union (NASU) of Educational and Related Institutions has asked the federal government to grant tax exemptions to Nigerian workers in both the public and private sectors, most recently for some companies in Nigeria.

Unions have similarly demanded a 100% wage increase for their members to help them out of poverty.

The union issued a communiqué at the end of its National Executive Council (NEC) meeting in Abuja, signed by President Dr Makolo Hassan and Secretary-General Peters Adeyemi, saying the call for tax exemption was based on government Recent actions have informed the cancellation of taxes for large companies operating in the country.

The union said, “NEC-in-Session notes with great dismay recent media reports that the Federal Government of Nigeria has written off tax breaks and incentives for large corporations doing business in Nigeria between 2019 and 2021, a thought- The mind-boggling sum of N16.76 trillion that would have gone to federal government revenue.

Also Read :  S&P 500 Suffers Worst ‘Fed Day’ Since January 2021: Markets Wrap

“NEC notes with sadness that Nigerian workers who are supposed to benefit from the tax benefits are the only ones in the country bearing the tax burden.”

The union leadership said the high personal income tax system made it impossible for most workers to live on wages, as their disposable income had dropped severely below the poverty line.

“The NEC therefore calls on the Federal Government to provide tax incentives and exemptions to all Nigerian workers in the public and private sectors to enable them to earn a decent living,” the communiqué read.

The unions expressed great concern over the cost of living statistics recently released by the National Bureau of Statistics (NBC), which showed Nigeria’s inflation rate at 20.8%, the highest in 17 years.

Also Read :  Amazon starts cutting thousands of workers

With most NASU members living below the poverty line due to high inflation, high cost of food, transportation, and goods and services, the leadership demanded a 100% adjustment in the cost of living of NASU members’ salaries to lift them above the poverty line and boost their disposable income , which cannot cope with the current inflationary realities in Nigeria.

Workers insist Nigeria’s economy is struggling under the weight of double-digit inflation, oil theft, an import-driven economy, a soaring exchange rate, rising debt and fraudulent tax exemptions and concessions.

It argues that high inflation rates lead to higher prices for goods and services, further pushing Nigerians into abject poverty.

It added that contrary to figures and figures released by the federal government to appease Nigerians, actual conditions and economic growth indicators signaled danger to the country’s economy.

Also Read :  Will Climate Protestors Cancel The $28 Billion Private Jet Business?

“NEC believes that the solutions to these economic challenges are good governance, accountability, transparency and credibility in the management of the nation’s resources.

“The NEC therefore calls on the government to do what is necessary to make life better for every Nigerian by providing better public utilities, good public services, employment and safety of life and property,” the communiqué said.

However, unions have expressed dissatisfaction with IPPIS, stating that the scheme is not up to the task as it is riddled with shortcomings, loopholes and fraud.

It requires the federal government to conduct the necessary review of IPPIS to address apparent challenges, or to adopt the University Specific Personnel and Payroll System (U3PS), which was tested and found to be a better option.

Source

Leave a Reply

Your email address will not be published.

Related Articles

Back to top button