…VAT, subsidy removal feature at inter-university debates in PH
Teams from various universities in Rivers State devoted all of Wednesday, February 4, 2026, to debate two major national issues, under the auspices of the Institute of Chartered Accountants of Nigeria (ICAN).
At a keenly contested debate session in Port Harcourt, the undergrads sweated on: ‘State governments in Nigeria should be allowed to collect and control value added tax (VAT)’.
The other topic was: ‘Full subsidy removal in Nigeria will positively impact funding for infrastructure and education’.
The session was organized by the ICAN Obio/Akpor & District Society, which marks its one year in existence.
Explaining the concept, Chioma Obianuju Ojukwu, university lecturer and pioneer chairman of the district, said the debate is one of their ‘Catch Them Young’ programmes for accounting students in tertiary institutions in Rivers State. “Today, five of them are competing among themselves, having fun in this academic cracker. They are trying to exercise their oratory power, excite their brains, and have fun in the process. Above all, it is a chance to compete because It’s a competition.”
The panel of judges was headed by Opufaa Ben-Whyte, a Judge of the High Court of Rivers State. The first position went to Captain Elechi Amadi Polytechnic (Port Harcourt), second was University of Port Harcourt, and third was Ignatius Ajuru University of Education. Rivers State University and Eastern Polytechnic Rumuokwurushi came fourth and fifth.
Ojukwu said ICAN gives accounting students the needed leeway to become stars. She said: “This is because it’s good when you have chosen a profession, you strive to get to the zenith. ICAN is the zenith of accounting profession in Nigeria and beyond. We are the ones mentoring other countries to also have Chartered Accounting institutes in their countries.”
She said the scheme is both to catch them young, and to also give back to the society. “This is because many of these things are from our personal donations and sponsorships. It’s part of our corporate social responsibility aimed at adding value to society. It is one of the Sustainable Development Goals (SDG), education, partnership, collaborations. We are very proud of ourselves in the institute and also in ICAN Obio-Akpor.”
The overall winning tertiary institution won what the chairman called sumptuous and wonderful prizes from N500,000 to consolatory tokens of N75,000. “It’s just for fun and also for them to be very smart. The feelers we get from the universities show that it is a welcome idea.
“We even have a sponsor, Teresa Ile Nigeria Limited who has taken up the responsibility of sponsoring this annually. It’s an oil and gas company that is based in Rivers State. So, the name of the debate series is after his mother. Joseph Ile is one of us in the district. He is using this to give back to the society as part of his corporate social responsibility, and also to say ‘thank you for all what we are doing in the district’. He’s so proud of us.”
Ojukwu said ICAN is now a household name. “The essence is for the students, accounting students, after their BSc accounting, to think of writing their ICAN.”
The District says the series of events were to mark its one-year anniversary as well as to have relevance and make impact within the community. “We clocked one year on February 2, 2026. We visited the Motherless Babies Home in Port Harcourt. Today, we are giving back to society through the students. Sunday will be the climax.
“We’re going to mount award presentations including today’s awards and 12 outstanding individuals, members of the institute and also others in the society who have impacted positively to the state and to the nation.
“We are giving them awards of excellence as already approved by ICAN National.”
Throwing some light on some of the topics; control and collection of VAT, and subsidy removal, Ojukwu said one will find that the topics resonate with the society. “They look real. They are things the society is battling with. Many wonder how we came about those topics, and how they supposed to impact on either the profession or on the society.
“We have an examination committee called Exams and Academic Committee. We held several meetings and came up with topics that would be interesting. We know everybody in Nigeria is interested to know the outcome of this debate, because it is on the national ICAN platform. They are so proud of the whole topics and everything.”
The chairman noted that the issue of VAT even went to court whereby a state government wanted to collect and control the VAT in its state. “So, we want the students to exercise their brains, give us insight and educate the nation whether VAT should be collected and controlled at the state or national level.
“The second topic is fuel subsidy. Everybody is crying that fuel is very expensive, and this is due to subsidy removal. We brought out topical issues that anybody can debate on. You mustn’t be the best student in your class to win it. It is about exercising your brains, digging for insight. Just give us points that are genuine, points that will help the society. And when these points are read in the newspapers, people would know the thinking of undergraduates and the young ones in school.”
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