Shutdown Warning: Aviation Employees Ready To Act Against 40% Revenue Deduction

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Aviation workers are poised to disrupt the sector unless President Bola Ahmed Tinubu reconsiders the imposition of a 40% Internal Generated Revenue…CONTINUE READING

remittance by aviation agencies to the federal treasury, as declared by Ben Nnabue of the National Union of Air Transport Employees (NUATE) during the 11th Quadrennial National Delegates’ Conference in Benin, Edo State on Thursday.

Nnabue argued that the 40% deduction from the revenue of aviation agencies is detrimental to the industry, asserting that no agency can sustain such a financial burden given the current expenditure levels.

He urged President Tinubu and the Minister of Finance, Wale Edun, to provide special waivers to alleviate the financial strain on aviation agencies.

He emphasized, “If the deductions persist, the agencies are likely to face collapse, resulting in a severe crisis for the national economy.

Therefore, I appeal to President Bola Tinubu and the Hon. Minister of Finance to cease the double deductions and extend special waivers to the aviation agencies, without which they cannot fulfill their statutory duties. I sincerely hope this appeal will be heeded in the national interest.”

It was noted that this policy aligns with Section 62 of the Finance Act 2020, which allows a 40% automatic deduction of federal agencies’ revenue to the Single Treasury Account (TSA).