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Value Added Tax

In a letter dated July 31 and seen by Reuters on Tuesday, Budget Minister Jean-Baudouin Mayo instructed the finance minister to move to implement the decision taken at last week’s cabinet meeting.

Congo to suspend value-added tax exemption for mining imports

Democratic Republic of Congo’s government has decided to suspend the value-added tax (VAT) exemption on mining companies’ imports in an effort to bolster state revenue, the budget minister said.
Ahmed Idris, the Accountant-General of the Federation (AGF)

Federal, states, local governments share N651 billion revenue

The Federation Account Allocation Committee (FAAC) at the weekend shared a total of N651.184 billion as June 2020 allocation among the federal, states, local governments, and relevant agencies in the country.

President Buhari, APC killing Nigerians with taxes – PDP chairman

National chairman of the Peoples Democratic Party, PDP, Prince Uche Secondus, has chided President Muhammadu Buhari and the All Progressives Congress, APC, for what he called the overburdening of Nigerians with taxes and tariffs since assuming office in 2015.
Governor Yahaya Bello of Kogi State has placed all the communities in Kabba-Bunu council areas on ‘absolute’ lockdown following the positive testing of two persons in the council area to COVID-19

Kogi gets N6.6 billion allocation for June

A total N6,609,759,939 is the amount that accrued to Kogi State from the Federation Account for the month of June, 2020. This amount is made up of N3.6 billion allocated to the State Government and N2.9 billion allocated to the 21 Local Government Areas in the state.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed on Saturday met with the leadership of the National Assembly to intimate it with an Executive proposal to establish a N500 billion COVID-19 Crisis Intervention Fund.

Federal, states, local governments share N547.3 billion for May

The Federation Account Allocation Committee (FAAC) Wednesday shared N547.309 billion among the three tiers of government as allocation for May 2020.

Senate asks federal government to expedite actions on completion of Ajaokuta steel plant

The Senate Tuesday asked the Federal Government to as a matter of urgency, expedite action towards the completion of the Ajaokuta steel plant.
PDP and Wada are challenging the declaration of Yahaya Bello of the APC as winner of the November 16, 2019 governorship election held in the state.

Kogi governor speaks on May salary payment for workers

Governor Yahaya Bello of Kogi State has assured workers that they will get their May salary before the Eid-el Fitri celebration.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed on Saturday met with the leadership of the National Assembly to intimate it with an Executive proposal to establish a N500 billion COVID-19 Crisis Intervention Fund.

Federal, states, local government share N606 billion for April

Details of the allocation were contained in a Secretariat report released by the Office of the Accountant-General of the Federation at the end of the online meeting of the Federation Accounts Allocation Committee (FAAC) in Abuja.

MultiChoice: We’re implementing new VAT rate, not raising prices

Pay television company, Multichoice Nigeria, has dismissed reports that it is set to increase subscription rates for its DStv and GOtv packages from June 1.

Saudi Arabia increases VAT by 200%

Saudi Arabia will increase its value-added tax (VAT) from five to 15 per cent in July, as part of moves to support the economy amid the novel Coronavirus pandemic, the Finance Ministry said on Monday.
Mrs Toki Mabogunje, President LCCI said this at the Chamber’s second quarterly briefing on the state of the economy on Tuesday in Lagos.

Lagos chamber educates private sector on post coronavirus economy

The Lagos Chamber of Commerce and Industry (LCCI) has advised organised private sector to leverage creativity and innovation to rebuild a competitive economy post-COVID-19.
Kola Ologbondiyan

PDP reacts to President Buhari’s appointment as ECOWAS coronavirus response champion

The Peoples Democratic Party (PDP) has advised President Muhammadu Buhari to use his appointment as the ECOWAS COVID-19 Response Champion to step up actions and measures against spread of the pandemic in Nigeria.
Ahmed Idris, the Accountant-General of the Federation (AGF)

FAAC admits error, says N661.4 billion shared in March, not N780.9 billion

The Federation Account Allocation Committee, FAAC, has admitted error, saying N661.4 billion was shared among the three tiers of government for March, 2020 and not N780.9 billion earlier announced.
Ahmed Idris, the Accountant-General of the Federation (AGF)

Federal, states, local governments share N780.926 billion for March

The Federal, State and Local Governments and relevant state agencies shared a total N780.926 billion as revenue from the Federation Account Allocation, FAAC, for the month of March 2020.
Ahmed Idris, the Accountant-General of the Federation (AGF)

FAAC distributes N780.926 billion to federal, states, local governments for March

The Federation Accounts Allocation Committee (FAAC) has shared a total of N780.926 billion as Federation Account revenue for March 2020 to the Federal, States and Local Governments and relevant agencies in the country.

Dana Air to keep middle seats empty upon resumption of flights

Dana Air says it will keep the middle seats in all its aircraft empty upon resumption of flights, in line with the social distancing guideline on COVID-19.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed on Saturday met with the leadership of the National Assembly to intimate it with an Executive proposal to establish a N500 billion COVID-19 Crisis Intervention Fund.

Nigeria cuts down 2020 budget by N317.5 billion

To reflect the present harsh economic realities occasioned by the coronavirus pandemic, the Federal Government has adjusted the 2020 budget, slashing the figures by N317.5 billion.
Newly sworn in Governor of Bayelsa, Sen. Douye Diri, has urged the state House of Assembly to expedite passage of the 2020 Appropriation Bill he would soon present for consideration.

Bayelsa laments drop in oil revenue

Bayelsa State Government has expressed concern over the decline in revenue from the Federation Account arising from the global COVID-19 crisis, saying the economy of states in the country would soon be grounded.

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Nigerian youths demand role in anti-terror war

Nigerian youths have called on the Federal Government and Security Chiefs to ‘robustly’ engage the youths in the fight against terrorism, banditry and other escalating criminality across the country.
Protesters took to Belarus streets in the capital Minsk and several other cities on Tuesday evening after election officials refused to allow rivals to President Alexander Lukashenko to stand in August 9 polls.

Sweden: EU to discuss sanctions against Belarus after disputed election

European Union (EU) Foreign Ministers will meet on Friday to discuss targeted sanctions against Belarus following Sunday’s contested election and subsequent violent crackdown on protesters, Sweden’s top diplomat said on Wednesday.
French Ligue 1 side Lille have splashed out about $35m to sign Victor Osimhen’s replacement after sealing a deal for Canadian star Jonathan David.

Lille splash out $35 million to seal deal for Victor Osimhen’s replacement

French Ligue 1 side Lille have splashed out about $35m to sign Victor Osimhen’s replacement after sealing a deal for Canadian star Jonathan David.
The Governorship Election Petition Tribunal in Uyo, on Monday, ordered INEC to allow the All Progressive Congress (APC) candidate, Mr Nsima Ekere, to inspect all election materials used during the March 9 Governorship Election.

INEC: Edo election will hold as planned

The Independent National Electoral Commission (INEC) Wednesday walked back threat to stop the conduct of the September 19 governorship election, noting that a postponement will lead to constitutional crisis.``
President Donald Trump on Monday postponed the Group of Seven (G7) meeting until after the United States election in November, after a previous delay due to COVID-19 concerns, CNN reported.

NGO: US has lost position of global order guarantor

The U.S. has completely lost the role of guarantor of international order by withdrawing from major multilateral agreements, Detlef Dzembritzki, the Head of the UN Association of Germany Non-governmental Organisation (DGVN) said on Wednesday.