Nigeria generated N600.15 billion as value-added tax (VAT) in the second quarter of 2022, 1.96 per cent better than the amount generated in the previous quarter, according to the latest data from the National Bureau of Statistics (NBS). NBS indicated that Nigeria generated N588.59 billion in Q1 2022. The report stated that the country earned a total of N359.12 billion in the second quarter of the year from domestic VAT collection. “On the aggregate, value-added tax (VAT) for Q2 2022 was reported at N600.15 billion, showing a growth rate of 1.96 per cent on a quarter-on-quarter basis from N588.59 billion…
Author: Elvis Eromosele
Food consumption has been identified as the one item that most households in Nigeria and other low and middle-income countries spend about 85 per cent of their income, a new report has shown. The report noted that households that live above $5.50 daily are more likely to have better nutrition than those that earn less in sub-Saharan Africa. Titled “Harnessing food demand systems for improved nutrition in Sub-Saharan Africa, and sponsored by Bill and Melinda Gates Foundation, and UKaid the report was conducted by the University of Georgia in collaboration with the Alliance of Bioversity International, and the International Center…
In furtherance of efforts by the Governor Godwin Obaseki-led administration to tackle the challenges of power supply and spur industrialization in Edo State, the government has concluded plans to extend the Ossiomo Power to other senatorial districts in the state. The Managing Director, Ossiomo Power, Dr. Uwa Igiehon, who disclosed this in a chat with journalists, said the project which has ensured stable electricity to power government establishments and public infrastructure in the Benin metropolis, will now be extended to ensure improved power supply across all Edo communities. The Ossiomo Power project is a brainchild of the Obaseki-led state government…
The Kano State Government has so far released more than N1.02 billion for girls’ education-related projects in its 2022 budget. The co-chair, Girl Education Partnership, Mairo Bello, made this known in Kano on Saturday, at the dissemination of the Kano State 2022 girl education budget performance with citizens and relevant stakeholders. The News Agency of Nigeria reports that the dissemination was supported by Partnership to Engage, Reform and Learn, a governance programme of the UK Foreign, Commonwealth and Development Office. Bello explained that while N868.6 million was released for girls’ specific budget lines, N155.5 million were released for both boys’…
The United States of America (USA) has agreed to sell $1.1bn (£955m) in weaponry to Taiwan. The move is already provoking anger from China. The proposed deal includes a radar system to track incoming strikes and anti-ship and anti-air missiles. It comes after US House of Representatives Speaker Nancy Pelosi last month became the most senior US official in 25 years to visit Taipei. The Chinese embassy in Washington called on the US to revoke the deal or face “counter-measures”. Spokesman Liu Pengyu said the deal “severely jeopardises” relations between Washington and Beijing. “China will resolutely take legitimate and necessary…
The insurance industry in Nigeria says it would soon unveil a 10-year Strategic Plan to ensure the sustainable and rapid growth of the market going forward. Leaders of the industry, who revealed this following a session of the Insurers Committee meeting in Lagos, said the Strategic Plan will effectively codify the long-term aspirations of the industry. Mr. Segun Omosehin, the Vice-Chairman, Publicity Sub-Committee of the Insurers Committee said all the Associations in the industry have been asked to nominate their members who will constitute a committee that will take charge of drafting the document. According to him, “Today we deliberated…
OVER 50,000 cases of major destruction to telecom infrastructure and facilities have been reported across the country in the past five years, raising alarm over the implication of these incidents to the quality of telecommunications services in Nigeria. Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, who disclosed this at the 2022 edition of the Youth Civil Society and Stakeholders Summit (YCSSS), which took place midweek at the Army Resource Centre, Abuja, expressed worry over how the incidents have continued to affect the Quality of Experience, (QoE), of consumers, and called for concerted efforts by the…
Twitter Inc will launch a widely requested edit button for its paid subscribers in the coming weeks, the social media company said Thursday. For years, Twitter users have demanded the ability to edit their tweets after publishing in order to fix errors like typos. Those requests have led to jokes online that Twitter would rather introduce any other product, such as newsletters, before giving users their top-requested feature. Subscribers who pay $4.99 per month for Twitter Blue will soon be able to edit their tweets “a few times” within 30 minutes of publication, Twitter said in a blog post. Nearly…
The Lagos State Government has initiated an autonomous funding mechanism that will ensure that all three of Lagos State’s tertiary institutions are sustainable. Governor Babajide Sanwo-Olu, who announced this on Thursday, said that the Government will set up the Lagos State Tertiary Education Trust Fund, a move that will creatively revolutionise the model for the funding of tertiary education in the country. Sanwo-Olu made the announcement when he received members of the Visitation Panel to the Lagos State University (LASU) led by the former Vice-Chancellor of the University of Lagos (UNILAG), Prof. Abdulrahman Bello, at the State House, Marina. The…
Serena Williams, one of the biggest names in tennis, with 23 Grand slam titles, the highest in the open era is set to retire. Her rather impressive career spans almost three decades as she began playing when she was a teenager. In that time, she has made more than $350 million in endorsement deals taking her total earnings to $450 million. Serena shared her plans to retire in an essay she wrote for Vogue. She said she couldn’t talk about it with her husband or her family because of how heavy it weighed on her. Only sharing those thoughts with…