FGN VAT    BREAKING: TAX: FG Mandates 7.5% VAT on Mobile Transfers and USSD From Jan 19 FG Announces Implementation of 7.5% VAT on Selected Electronic Banking Services From January 19 The Federal Government has announced that a 7.5% Value Added Tax (VAT) will be applied to selected electronic banking services, including mobile Moniepoint MFB Explain in details What FGN VAT is all about and Want Can and Can Not Be Tax.  What is VAT.   (Value Added Tax) is a Government-mandated tax applied to the supply of certain goods and services in Nigeria. Moniepoint collects it on behalf of the Nigeria Revenue Service (NRS) and remits it to the Government. 2. Why am I seeing VAT charges now? The Law now requires VAT at 7.5% to be applied to certain banking fees of  financial institutions such as commercial and microfinance banks and electronic money transfers operators. This is not a Moniepoint price increase. 3. Which services attract VAT? VAT applie...

  I was thinking it's another Nigerian International Passport destroyed skit. A total of three presidential planes have been grounded in France after Zhongshan obtained orders from the Judicial Court of Paris. The planes were receiving "routine maintenance" at the time, Nigeria's government said. According to  BBC.com   A French court seized three jets owned by the Nigerian government following a long-standing dispute with a Chinese company. The row stems from a 2007 contract between Zhongshan Fucheng Industrial Investment and Nigeria's south-western Ogun State to develop a free-trade zone where a massive industrial park was to be developed to attract investors. The agreement was terminated between 2015 and 2016.  According to the  Financial Times , Zhongshan said it was forced out of the deal through a "campaign of illegal acts". The Nigerian Government have fiercely condemned the seizure of its planes, saying that Zhongshan had a sole objective of ...

  Image credited to vanguard news By Luke Onyekakeyah  22 Nov. 2022   I will tell you that this is a little lengthy article, but comprehensive and eye opening interview, It's worth reading.  Please take your time to read with and open mind, you will see why Nigerian remain poor from 1960 till today. The British destroyed Nigeria before they left,  Hear From The former minister of works, power and steel. 'Babatunde Raji Fashola was the former Governor of Lagos State.' This was an article written by The Guardian News  * Hear him .~ If you ask anyone on the street what is Nigeria’s number one problem, he would most likely say corruption. The refrain on corruption is so profound that no one has taken time to ask why there is such abrasive corruption.  The reasons behind corruption are known but not addressed. They are totally downplayed. Truth is that corruption is merely an effect. The cause is ignored. Chasing the effect and leaving the cause, as in...

  On Sunday October 1st 2023 BUA Cement Plc. Announce the reductions of cements to #3500 per bag.  That's a wonderful gift for independent celebration. That's so wonderful and thoughtful of them.  But....  We have to know that these #3,500 is the Factory Price. Do not expect the price to be the same at the retail price. So we might not buy cement less than #4,000 per bag soon.  Because  Cement would now be sold at an ex-factory* price of 3,500 Naira per bag. So if ex-factory price is #3,500 how much will the retail price be? Nigerian has been milked dry by unfair Nigerian Government promoting Monopoly.  Giving advantage to selective few individuals to controls the economy of Nigera has been Nigerian undoing, just because these people are the major financiers of Elections, they will do all they can recoup their Investment inflicting  contracts that the Government would award their company and unfair preffrencial advantage given to them. Ordinary Ni...

Corruption is The major reasons for poverty in Nigeria  The Nigerian economy is one of the largest in Africa and is primarily driven by oil exports. However, it is also diversified with sectors such as agriculture, telecommunications, banking, manufacturing, and services contributing to its growth. Nigeria has faced various economic challenges, including a heavy reliance on oil revenue, corruption, inadequate infrastructure, and high unemployment rates. These factors have hindered the country's economic development and contributed to income inequality. Nigeria Corruption perception index In recent years, the Nigerian government has made efforts to diversify the economy, improve infrastructure, and attract foreign investment. Initiatives such as the Economic Recovery and Growth Plan (ERGP) have been implemented to address these challenges and promote sustainable economic growth. Despite these efforts, the Nigerian economy has been impacted by external factors such as fluctuations in...