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NASENI lauds National Assembly for retaining 0.25% cash allocation

By Sodiq Omolaoye, Abuja
10 January 2022   |   2:44 am
The National Agency for Science and Engineering Infrastructure (NASENI) has lauded the National Assembly for retaining the provision of 0.25 per cent on commercial companies to be credited

Lawan. Photo/facebook/TopeBrown/NigerianSenate

The National Agency for Science and Engineering Infrastructure (NASENI) has lauded the National Assembly for retaining the provision of 0.25 per cent on commercial companies to be credited to the agency in the Financial Act 2021 recently signed into law by President Muhammadu Buhari.

NASENI’s Act 2004 had stipulated the agency’s funding mechanism to include 0.25 per cent levy from turnover of commercial companies above N100 million.

But an amendment sent to the National Assembly in the Financial Act Bill 2021 sought that aspect of the NASENI Act to be removed, thereby, narrowing down the organisation’s funding to one per cent of the Federation Account.

Executive Vice Chairman of NASENI, Prof. Mohammed Haruna, said the lawmakers’ action demonstrated a great act of patriotism and vision for the future of the nation.

Spokesperson for the agency, Olusegun Ayeoyenikan, in a statement, yesterday, quoted Haruna as saying: “This latest move by the Federal Government is an indication that Nigeria now is on the path to greatness.”