In order to enable the National Agency for Science and Engineering Infrastructure (NASENI) to fulfil its mandate, the Presidency has directed the Federal Inland Revenue Service (FIRS) to remit statutory deductions meant for the agency.
The NASENI Establishment Act 2004 mandates FIRS to remit to it a quarter per cent of the levy on turnover of firms earning over N100million and above.
NASENI is also expected to be given one per cent(1%) of the Federation Account in the first instance and two per cent(2%) later.
But none of the former administrations in the country has ever fully implemented the law establishing NASENI, especially that related to funding.
But in January, President Muhammadu Buhari decided to ensure total compliance with the NASENI Act.
Mr Buhari also approved the placement of NASENI directly under the supervision of the Presidency instead of the Ministry of Science and Technology.
According to a letter from the Presidency, signed by the Chief of Staff, Ibrahim Gambari, the FIRS has been directed to remit the deducted levy on turnover as approved by Mr Buhari.
The letter said: “I write to inform you that on 24th January 2021, Mr President approved the prayers of the Executive Vice Chairman (EVC) of the National Agency for Science and Engineering Infrastructure (NASENI) on the funding of NASENI activities.
“In accordance with the NASENI Establishment Act, one of the prayers of the EVC relates to the funding of the agency via a levy on income or turnover of commercial companies and firms with a turnover of N4million (later increased to N100million) by the NASENI Governing Board) at the rate of a quarter per cent( 1/4 %) of turnover.
“Accordingly, you are kindly requested to act on the implementation of this provision of the NASENI Act as soon as possible.”
A brief obtained by this newspaper highlighted how the decision to implement the NASENI Act was taken by the President.
The document said in part: “The…
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