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VAT In Nigeria Now 7.5 Percent As Buhari Signs Finance Bill

January 13, 2020 8:29 am

President Muhammadu Buhari has signed the 2019 finance bill into law in Abuja on Monday.

The import is that the Value Added Tax (VAT) in Nigeria is now officially 7.5 percent from 5 percent.

The bill was submitted to the national assembly alongside the budget but the bill signing is coming 27 days after the 2020 budget was signed into law on December 17.

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“I am pleased to announce that this morning I signed into law the Finance Bill, 2019,” a tweet on the president’s Twitter account read.

“We introduced the

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Solskjaer ‘100 Percent Sure’ Man Utd Have Right Structure

October 17, 2019 8:10 am

Manchester United manager Ole Gunnar Solskjaer is “100 percent sure” that the club has the right structure in place and says money is available to strengthen his struggling squad.

United are 12th in the Premier League table, just two points above the relegation zone and 15 adrift of league leaders Liverpool ahead of Sunday’s clash with their fierce rivals at Old Trafford.

The club’s hierarchy and recruitment under executive vice-chairman Ed Woodward has come in for severe criticism but Solskjaer has described that as “an insult” as he looks to the future.

“I’ve got a three-year contract now so of …

Nigeria’s crude oil production to witness 8 percent decline

September 4, 2019 5:00 am

Nigeria’s crude oil production may witness a steady decline to approximately 7.93 per cent before 2025, a new research, conducted by U.S.-based Orbis Research has said.Being the same year Nigeria has targeted to increase oil reserve to about 40 billion and daily production to about three million barrels per day, the current revelation raises doubts over the achievement of the target.

Nigeria has been facing reduction in investments into the oil and gas sector due to unaddressed uncertainties in regulations, as well as growing security tension in the country.

The Nigerian Natural Resource Charter (NNRC), had earlier disclosed that Foreign …

Unemployment rate rising to 33.5 percent by 2020 – FG

May 2, 2019 12:13 pm

The unemployment rate may increase from 23.1 percent to 33.5 percent by 2020, the Federal Government announced on Thursday.

The Minister of Labour and Employment Senator Chris Ngige disclosed this while declaring open a two-day workshop on breaking the resilience of high unemployment rate in the country in Abuja.

He described the incessant increase of unemployment in the country was alarming.

The Minister said the high unemployment rate of 23.1 per cent, and underemployment of 16.6 per cent presented by the National Bureau Statistics (NBS) in its 2019 report was alarming.

Card Readers’ configuration 100 percent completed says INEC

February 21, 2019 12:47 am

The Independent National Electoral Commission (INEC) has completed 100 percent the configuration of the Smart Cards Readers (SCRs), which will be used for voters’ accreditation for elections on Saturday and March 9, its chairman, Prof. Mahmood Yakubu, said yesterday.

Yakubu, who stated this while updating the media and observers on the preparedness of the commission for the polls, said the deployment of voting materials to the 774 local government areas will be completed today.

The INEC boss added that the deployment began yesterday in 10 states.

He also acknowledged that there were report of missing materials in some states.

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