The House of Representatives has resolved to probe the irregularities in the remittance of a two per cent Surcharge on imports to the Raw Materials Research and Development Council by the Nigeria Customs Service and the Federal Ministry of Finance.
The decision of the House was a sequel to the consideration and adoption of a motion during Wednesday’s plenary, sponsored by Kaduna lawmaker, Mustapha Aliyu.
According to Aliyu, the RMRDC was established in 1987 under the Science and Technology Act, 2004, to reduce Nigeria’s dependence on imported raw materials, with the primary mission of promoting research, developing and utilising locally available raw materials to stimulate industrial growth and economic diversification.
He said, “The House is aware that the RMRDC Act was repealed and enacted in 2022 with the import surcharge increased from one to two per cent to adequately fund the Council’s operations and mandate.
“We also know that the Federal Ministry of Finance, the Nigeria Customs Service and the Budget Office are responsible for ensuring the accurate collection, remittance, and budgeting of the two per cent surcharge to enable the Council plan and execute its statutory obligations effectively. The House is concerned that there are persistent irregularities in the calculation of the remittance of the two per cent import surcharge to RMRDC.
“Presently, the Council is being paid a negligible amount of about 0.05%, of which sources cannot be defined, and the lack of transparency and accountability in the remittance process contravenes the intent and provisions of Section 12(1)(b) of the RMRDC Act, 2022.
“We are worried that the irregularities or discrepancies and lack of clarity created in the disbursement of the fund arbitrarily void the provision of the law and have greatly hampered the development of the nation and continue to serve as a clog in the wheel of progress.”
At a plenary presided over by Speaker Tajudeen Abbas, the House urged the Federal Ministry of Finance and the Nigeria Customs Service to “Provide a detailed explanation of the methodology and criteria used in determining the two per cent import surcharge remittance and publish a transparent framework for calculating and implementing the two per cent surcharge in compliance with the RMRDC’s Act, 2022,
It further urged the Federal Ministry of Finance to ensure accurate calculation and immediate remittance of all arrears of the two per cent surcharge to the RMRDC.
MESSAGE us @ https://Wa.me/+2348072633727 for business relationship, Advert, PR, Publicity, Awareness, Interviews, Feature Stories, Press Release/Statement and so on…
YOU CAN READ MORE NEWS UPDATES AND INFO @ https://www.voiceairmedia.com