Last week, about 115 young Nigerians besieged the Ukraine Embassy in Abuja and offered to join Ukraine in its fight against Russia. The young people put down their names in a register provided by the embassy.
Over time, Valentine’s day celebrations have taken up an amatory-monetary transactional format chiefly between ladies and their men. In the US, total spending in the valentine economy is estimated to hit $23.9 billion, its second-highest level since 2007.
A new wave of coups in Mali, Guinea, and recently, Burkina Faso, all francophone countries, has reawakened West Africa’s infamous nickname – “Africa’s coup belt”.
The 5 ministries with the highest allocation in the MDAs Approved 2022 Budget for MDAs, namely, the Ministry of Finance, Budget and Planning, the Ministry of Defence, the Ministry of Education, the Ministry of Health, and the Ministry of Police Affairs are to receive 69% of the total MDAs budget allocation and 71% of the total budget for Personnel of MDAs
There are growing concerns that successive governments at the national and state levels abuse their privileged access to people’s biometric data, amidst threats of infringements on civil liberties.
Why is everyone concerned at the alarming revenue-debt ratio of Nigeria even when the debt-GDP ratio shows Nigeria is not only creditworthy but also has the capacity to pay its debts.
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Dataphyte election monitoring desk has predicted that Professor Charles Soludo of the All Progressives Grand Alliance (APGA) will lead in the supplementary election for Ihiala Local Government Area (LGA) of Anambra State.
The figures are being thrown around in news articles and broadcasts. Analysts have been telling of its consequences – the repeatedly depressing rates of unemployment and inflation, low GDP per capita, lean spending on building, maintenance and expansion of available infrastructure, all culminating in a youth restiveness and crime, extreme incidences of violent deaths, poorer standards of living, financial uncertainties and a general state of hopelessness. These are the negative consequences of a country on the brink of bankruptcy due to an unhinged appetite for loans and irresponsible use of same.
An analysis of the National Bureau of Statistics’ (NBS) Gross Domestic Output figures has shown that Nigeria’s agro-allied industry has continuously been on the decline for most of the past thirty-eight years. The output from the industry has fallen from N5,100 billion in 1981 to N4,598 billion in 2018. These figures show that the capacity of the agro-allied industry to process agriculture produce has been reducing even though agricultural production is increasing.
Whatever happens to the VAT increase, the governments at the federal, states and local governments need to eschew those four cover up tales and embrace these two sobering truths. Employing ingenious macroeconomic policies and consistent fiscal discipline is the way to make any tax regime work for the overall good of the country.
The Federal Government’s decision yesterday to increase the value added tax (VAT) rate from 5% to 7.2% is a polite way of saying to you “We the federal, state and local governments appreciate the money you pay to us every day through VAT, but we seriously need more from you to spend it for the usual things we spend it on. Will you help?”
