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Glass cladding is being mounted at the largest and most beautiful international conference centre east of the Niger, also the escalators are in place. God continue to bless Anambra
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Five northern states, two south-western states, two south-south states, and one south-eastern state collected a total of N373.84bn of the N836.51bn Value Added Tax allocation available for states in 14 months. This is according to the latest FAAC allocation data available from the National Bureau of Statistics for the months of January 2020 through to February 2021. In the period under review, the thirty-six states of the federation and the Federal Government shared N1.09tn as VAT revenue from the Federation Accounts Allocation Committee. The top 10 states were: Lagos (N153.94bn), Kano (N32.48bn), Oyo (N29.85bn), Rivers (N28.43bn), Kaduna (N24.75bn), Katsina (N22.72bn), Delta (N20.91bn), Bauchi (N20.49bn), Anambra (N20.14bn), and Jigawa (N20.13bn). Lagos got the largest share of VAT revenue in the period under review (N153.94bn), while Nasarawa got the least allocation of N15.36bn. Based on the regions, the South-West region received the highest VAT allocation (N256.21bn), followed by the North-West (N154.41bn), South-South (N119.88bn), North-East (107.43bn), North-Central (N106.58bn). The South-East received the least from the VAT allocations (N91.99bn). The bottom 10 states were Nasarawa (N15.36bn), Bayelsa (N15.79bn), Taraba (N16.23bn), Gombe (N16.33bn), Kwara (N16.35bn), Ekiti (N16.46bn), Yobe (N16.90bn), Abia (N17.03bn), Ebonyi (N17.04bn), and Cross River (N17.17bn). According to Investopedia, VAT is a consumption tax that is levied on a product repeatedly at every point of sale at which value has been added. In Nigeria, VAT is collected by the Federal Inland Revenue Service and shared by the Federal Government. According to data from the NBS, VAT has a non-import VAT local, non-import VAT for foreign, and Nigerian Customs Service Import VAT components. In 2020, N1.53tn was generated as VAT in the nation. Non-import VAT local accounted for N763bn, non-import VAT for foreign accounted for N420.43bn, and NCS-Import VAT accounted for N347.72. Locally derived tax accounts for about 50 per cent of total VAT, while imported goods and foreign goods or services not imported account for the other half. Local VAT is imposed on goods and services consumed within each state of the federation. Based on the country’s revenue sharing formula, the Federal Government gets 15 per cent of VAT, while states share 50 per cent, and local governments share 35 per cent based on the sharing formula. In the period under review, the Federal Government got N251.55bn from VAT. In an August 10 ruling, the Federal High Court sitting in Port Harcourt, Rivers State, declared that it was the Rivers State Government, and not the Federal Inland Revenue Services, that should collect VAT and Personal Income Tax in the state. In 2020, the total internally generated revenue of the 36 states in Nigeria was N1.21tn. A former Minister of Finance, Mrs Kemi Adeosun, had said 55 per cent of total local VAT was generated in Lagos. Based on this indication, in 2020, Lagos may have contributed N419.65bn. in the same year, however, it received N130.97bn. The Governor of Rivers State, Nyesom Wike, said recently that Rivers State generated N15bn VAT revenue in June this year, but got only N4.7bn. He added that Kano generated N2.8bn in the same month and got the same N2.8bn back. Wike also said that Lagos generated N46.4bn but received N9.3bn. The Director-General, Lagos Chamber of Commerce and Industry, Dr Chinyere Almona, on Sunday said the current sharing formula for the states and LGAs should be adjusted using the factors of equality 20 per cent, population 30 per cent, and derivation 50 per cent. This is against the present system of equality 50 per cent, population 30 per cent, and derivation 20 per cent. According to her, this arrangement should be agreeable to the concerned parties and can drive innovation on revenue generation in all the states towards increasing their internally generated revenue. She added that it would also make the states more sensitive to the needs of businesses in their respective jurisdictions. Almona said, “The first concern of the chamber is the confusion that businesses face as to who is in charge of VAT collection. This is not healthy for the business community and planning. “We, however, hail the swift intervention of the Court of Appeal to reduce the uncertainties surrounding these controversies. “Businesses should not be subjected to unnecessary hurdles and made to pay the same tax twice from different agencies. Read AlsoNULGE wants LGs to collect VAT, Borno advises SouthVAT ‘war’ fuels struggle for true fiscal federalism as states seek more fundsVAT: More states oppose FIRS, Ogun, Edo, Akwa Ibom consider tax laws “The Federal Government should urgently establish an understanding with states on what is best for the nation and businesses.” According to the Head of Economics Department, Pan-Atlantic University Lagos, Dr Lekan Aworinde, if state governments start to collect VAT, there would be some positive as well as negative outcomes. He said, “On the positive side, states can boost their internally generated revenue, meaning that states that realise huge amounts of money from VAT will be able to generate more revenue to themselves. “However, on the flip side, we do not know whether states will have the structure to be able to collect this tax. What I mean is that tax collection involves a lot of structures such as the policies and the tax planning; also, do these states have the manpower to collect these taxes. If they don’t, the process might not be that smooth and effective. “Aside all of this, if the administration of VAT falls to the state, how sure are we that they will be able to remit what is due to the local governments. “In many cases, even with the old systems when federation account allocations come in, state governments do not remit the share of local governments as expected.” He added that there was the possibility of multiple taxations, especially on imports. Aworinde added, “There is also the possibility of multiple taxation which can be caused when both the federal and state government charge VAT for certain items like imports. Multiple taxation will have a ripple effect on the economy. “It will hamper ease of doing business in the country, erode investor’s confidence in the country and further decrease foreign investments, largely because investors don’t want to come into a country with too many taxes. “With investments on the decrease, unemployment will spike, which will also pull more people below the poverty line. “As income remains constant while cost of goods and services keep increasing, heightened poverty or a rapid increase in the poverty rate in the country is inevitable.” Meanwhile, the Fiscal Policy Partner and Africa Tax Leader, PwC, Taiwo Oyedele, has said challenging any ambiguity or treatment the states consider inconsistent with the constitution in court, is a healthy development for the system. Oyedele said this in an interview with one of our correspondents, in response to the states’ attorneys’ general’s prayer to the supreme court to determine whether or not the states have the sole authority to administer and collect stamp duties on all transactions involving individuals and persons within their respective states. The PUNCH had reported that the Attorney-General of the 36 states of the federation had dragged the Attorney-General of the Federation, Abubakar Malami, before the Supreme Court over the failure of the Federal Government to remit the funds generated from stamp duties into states’ accounts. Oyedele said, “There is generally no ambiguity regarding the collection of stamp duties. States are entitled to collect stamp duty on any dutiable instruments between individuals. Where a corporate entity is involved, the Federal Government is empowered to collect the stamp duty. “While each state gets to keep the stamp duty collected by them, any stamp duty collected by the Federal Government is to be shared to states at 100 per cent less cost of collection based on derivation.” In another development, an economist and private sector advocate, Dr Muda Yusuf, has advised the National Assembly and the Federal Ministry of Finance to halt the proposed excise duties on a segment of the manufacturing sector. Yusuf said this in a statement on Sunday in response to the announcement by the Nigerian Customs Service during the 2022-2024 Medium Term Expenditure Framework assessment in the National Assembly to reintroduce excise duties on the production of soft drinks in the country. Yusuf described the move as ill-timed, inappropriate and detrimental to the growth of the manufacturing sector, saying that it negated the economic recovery and job creation objectives of the federal government He said, “Many upcoming small businesses in the beverage sector would be hard hit by this proposal. The millions of micro enterprises in the soft drinks’ distribution chain will be adversely impacted by the imposition of the excise tax.” He added that the reality was that Nigerian manufacturing companies were going through tremendous stress at the moment, affecting sales, turnover, profitability, shareholder value and the sustainability of investments in the sector. https://punchng.com/vat-five-northern-states-two-sw-two-ss-among-top-beneficiaries/
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Obiano was very clear on this. Check the highlighted part. Anambra International Cargo and Passenger Airport Nears Resumption Of Commercial Operations |
Governor Obiano's Narratives of Excellence Focus on Oil & Gas in Anambra State https://www.youtube.com/watch?v=GvUHe64fDGg |
One of the modern fire trucks called Zeigler has arrived Anambra from.Germany. Two more are on their way. Anambra International Cargo and Passenger Airport Nears Resumption Of Commercial Operations
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Anambra is now officially gazetted as major oil producing state in Nigeria. In the letter that was signed by the professor Ibrahim Gambari the chief of staff to the president, all the details to that effect were stated. There are two major oil and gas exploration/drilling companies currently drilling oil in Anambra state. Anambra will start immediately to receive oil revenues. God Bless Anambra God Bless Nigeria
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Anambra now officially gazetted as an oil producing state
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AmericanQuarter:Yea bro..Anambra is on a steady rise |
2020 ASVI: Lagos, 5 Other States Generate More IGR than 30 States Combined… Bayelsa, Katsina Generate Poor Revenue 2020 Annual States Viability Index ASVI: FCT, 36 States Generate N1.3tr IGR Against N4.18trn from Federation Account Allocation … Again, Lagos Generates More IGR than 22 States Combined …. RICH/Economic Viable States: Lagos, Rivers, Ogun, Oyo, Anambra States … INSOLVENT/Poor IGR States: Bayelsa, Katsina, Jigawa, Yobe, Benue States The Economic Confidential has released its fifth Annual States Viability Index ( ASVI) which shows that eight (cool States are insolvent as their Internally Generated Revenues (IGR) in 2020 were far below 10% of their receipts from the Federation Account Allocations (FAA) in the same year. The index carefully and painstakingly computed proved that without the monthly disbursement from the Federation Account Allocation Committee (FAAC), many states remain unviable, and cannot survive without the federally collected revenue, mostly from the oil sector. The IGR are generated by states through Pay-As-You-Earn Tax (PAYE), Direct Assessment, Road Taxes and revenues from Ministries, Departments and Agencies (MDA)s. The IGR of the 36 states of the federation totalled N1.3 trillion in 2020 was the same figure in 2019. The report by the Economic Confidential, an intelligence magazine further indicates that the IGR of Lagos State of N418bn is higher than that of 22 other States put together whose Internally Generated Revenues are extremely low, and poor compared to their allocations from the Federation Account. Meanwhile, the Federal Capital Territory (FCT) Abuja which is not a state, but the nation’s capital generated N92bn IGR against N30bn from the Federation Account in the same period. Lagos remained steadfast in its number one position in IGR among the states with a total revenue generation of N418bn compared to FAA of N299bn which translate to 139% in the twelve months of 2020. It is followed by Rivers State which generated IGR of N117bn compared to its FAA of N198bn representing 58%; Ogun with N50bn compared to FAA of N88bn representing 57%; Kaduna State with N50bn compared to FAA of N124 bn representing 40%; Oyo with IGR of N38bn compared to FAA of N127bn representing 29.7% and Anambra generated N28bn compared to FAA of N94bn representing 29.6%; The total internally generated revenues of the six most viable states in 2020 at N695bn as computed by the Economic Confidential was more than the entire IGR collected by the remaining 30 states put together which was less than N600bn. Others with impressive IGR include Edo with IGR of N27bn compared to FAA of N99bn representing 27%; Enugu with IGR of N23bn compared to FAA of N87bn representing 27%; Ondo with IGR of N24bn compared to FAA of N97bn representing 25.6% while Kwara State earned N19bn IGR against FAA of N77bn representing 25.5%. The ten states with impressive IGR generated N796bn in total, while the remaining 26 states excluding FCT merely generated a total of N418bn in 2020. The report provides an amazing discovery. While some states have improved their IGR compared to previous years, others performed poorly. In 2020 eight states generated less than 10% IGR compared to seven states in 2019. Borno State narrowly escaped as it generated N11.57bn IGR compared to FAA of N115bn representing 10% more in 2020 which was more than 3% over its 7% last year. The eight states that may not survive without the Federation Account due to their extremely poor internal revenue generation of less than 10% compared to their federal allocations are Bayelsa, the home state of former President Goodluck Jonathan which generated the poorest and lowest IGR compared to its federal allocation in 2020. It realized a meagre N12bn compared to a total of N152bn from the Federation Account Allocation (FAA) in 2020 representing 8%. It is followed by Jigawa with IGR of N8.6bn compared to FAA of N107bn representing 8.1%; Katsina, the home state of President Muhammadu Buhari generated N11.3bn compared to FAA of N130bn representing 8.8% and Adamawa with IGR of N8.3bn compared to N91bn of FAA representing 9.1%. Others include Yobe, the home state of Senate President Ahmed with IGR of N7.7bn compared to N84bn of FAA representing 9.2; Niger with IGR of N10.5bn compared to N109bn of FAA representing 9.6%, Taraba with IGR of N8.1bn compared to N82bn of FAA representing 9.8% and Benue with IGR of N10.46bn compared to N106bn of FAA representing 9.8% within the period under review. The poor states with lower IGR may not stay afloat outside the monthly allocations from the Federation Account due to lack of initiatives for revenue generation drive coupled with arm-chair governance. Some of the states cannot attract investors due to socio-political and economic crises including insurgency, kidnapping, armed banditry, and herdsmen-farmers clashes. The Economic Confidential ASVI further showed that only four states in the entire Northern region have IGR above 20% in comparison to their respective allocations from the Federation Account. They are Kaduna, Kwara, Zamfara and Plateau States in that order. Meanwhile, ten states in the South recorded over 20% IGR in 2020. They are Lagos, Rivers, Ogun, Oyo, Anambra, Edo, Enugu, Ondo, Delta and Osun States. Bayelsa is the only state in the South with the poorest Internally Generated Revenue of less than 10% compared to its FAA in 2020. The other poorest IGR states are Jigawa and Katsina in North-West; Benue and Niger in the North-Central and Adamawa, Taraba and Yobe in the North-East. Meanwhile, the IGR of the respective states can improve through aggressive diversification of the economy to productive sectors rather than relying on the monthly Federation Account revenues that largely come from the oil sector. https://economicconfidential.com/2021/09/asvi-2020-igr-federation-account/
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gordonbarrett:I think this picture old was from July, because that was when the containers were there. More recent pictures will show improvement on the landscaping/drainage slabs like they did at the front of the terminal building. |
Anambra international airport has the longest runway in Nigeria aside Lagos MMIA. Courtesy of APGA
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Anambra international airport is the best in SE Nigeria
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greatiyk4u:Enugu is overhyped jungle. Awka is the fastest growing city in Nigeria aside Abuja. |
Solsix:Tell me about these: International airport, international conference centre, stadium, bridges, roads, flyovers, schools, hospitals, etc |
Solsix:Another 21/21 win loading for APGA. Willie has performed so well. International airport, international conference centre, stadium, bridges, roads, flyovers, schools, hospitals, etc, I can go on and on.. |
It doesn't even matter how much you cry but reality is what matters .What you think doesn't matter, but reality shows that Awka is the fastest developing city in Nigeria aside Abuja. These are dual carriageways, no place in the whole of SE would you find this sort of roads except Awka. I am from Niger Republic and Iive in Awka. Willie is a transformer. Infrastructures in Anambra is superb courtesy of APGA [s] Solsix:[/s]
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Solsix:What you think doesn't matter, but reality shows that Awka is the fastest developing city in Nigeria aside Abuja
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Take note that Awka is the fastest developing city in Nigeria aside Abuja Kaiser20:
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investnow2013:Anambra people are educationally excelling everywhere |
AmericanQuarter:Very commendable |
Anambra’s Oil-bearing Status: A Good Fight By C. Don Adinuba When he received on Tuesday, August 31, a letter from the Revenue Mobilization Allocation and Fiscal Commission pronouncing Anambra a petroleum-bearing state with all the benefits like entitlement to the 13% derivation principle in the sharing of national revenue, Governor Willie Obiano read the letter twice. Convinced it is real, he passed it to three aides around him and recited a scriptural passage which reads: “I have fought the good fight, I have finished the race, I have kept the faith. Henceforth there is laid up for me the crown of righteousness, which the Lord, the righteous judge, will award to me on that day, and not only to me but also to all who loved his appearing” (2 Timothy 4: 5- .He quickly explained: “This fight has not been a one-man show, but the collective effort of Anambra people, especially those in my administration who have defied all the odds to fight for their beloved state. For instance, Mrs Patricia Igwebuike, the Special Adviser on Legal Matters and Petroleum Resources, has not for once rested on her laurels.” The struggle took years and grit to prosecute. Lives were even sacrificed. Immediately Orient Petroleum Company, a private company supported since 2001 by the Anambra State government, began to produce crude oil in the Aguleri area of the state, neighbouring Kogi State began to lay claim to the ownership of the hydrocarbon. People in Ibaji, Kogi State, and Aguleri Otu in Anambra East Local Government Area fought, lives were lost and properties lost. This was in the first part of 2013, a year before Obiano became Anambra governor. The next year, Sterling Oil Exploration and Energy Production Company, an Indian hydrocarbon firm, secretly moved to the neighbouring communities of Ogwuaniocha and Ogwuikpele in Ogbaru Local Government Area of Anambra State, and started to produce oil. The Anambra State government was not aware of this enterprise until 2019 and quickly moved into action when it received a report about the oil drilling, investigated it and found it true. For some reason, the oil produced in Ogbaru LGA was attributed to Delta State, and not Anambra State. Worse, there was no environmental and social impact assessment by either the Anambra State government or the Federal Government, resulting in enormous environmental degradation. Efforts by the state government to engage Sterling Oil Exploration and Energy Production Company (SEEPCO) did not yield tangible results. Obiano was left with no choice than to escalate the matter to the Directorate of Petroleum Resources (DPR), Nigerian National Petroleum Corporation (NNPC) and the Federal Ministry of Justice. He then turned attention to the Federal Ministry of the Environment, with which it last November organized a conference at Golden Tulip Hotel, Agulu Lake in Anambra State, on the profound environmental implications of SEEPCO activities. All stakeholders criticized the energy firm. With incontrovertible evidence showing that the oil wells in question belong to Anambra State, coupled with Obiano’s persistent letters and visits to relevant government agencies in Abuja, the Revenue Mobilization and Fiscal Allocation Commission had no choice than to write a letter to Governor Obiano on August 24 confirming that the governor is right about the ownership of the oil wells. The oil wells are Nzam -1, Alo-1, Ogbu-1, Ameshi 1, 2, 3 and 4, as well as Enyie 1, 2, 3 and 4. In addition, there are River 1, 2 and 3 oil wells with proceeds to be shared equally between Anambra and Kogi states until the boundary dispute between the two states is resolved. The 50: 50 sharing ratio may not go down with some people in Anambra State because, apart from the fact that much of the oil in these parts comes from Anambra, it is the state that developed the three oil wells in the first place. What may be the outcome, it has been a glorious fight. The struggle to get Anambra officially and formally designated oil-producing has ended in praise. Things are shaping up for Anambra State. From building one of Africa’s most modern and largest international airports to building Africa’s largest international conference to exploits in education, security, health, agriculture and now oil and gas, it has been good news all the way. Truly, the state is up to its reputation as the Light of the Nation. God bless Anambra State. Adinuba is Commissioner for Information and Public Enlightenment, Anambra State.
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ANSMEDIA:
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Anambra State Government Commissions Facilities At COOUTH, Flags - Off Second Phase Of COVID-19 Vaccination By Ejike Abana (ABS Government House Correspondent) Government of Anambra State has commissioned Mother and Child Referral Center situated at Chukwuemeka Odumegwu Ojukwu University Teaching Hospital, Amaku, Awka. During the occasion, the second phase of COVID-19 Vaccination in Anambra State was officially flagged - off. Governor Willie Obiano who performed the function also commissioned the Dialysis Center, Private Ward and 64 Scan CT Scan. The event attracted dignitaries including the State Executive Council members, political appointees, Traditional rulers, among others.
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Orangebasket:Confused? ![]() |
Orangebasket:Stop embarrassing yourself. Where's your credible source? Stop disgracing yourself for once. You must get sense by force.
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Orangebasket:Stop embarrassing yourself. Where's your credible source? Stop disgracing yourself for once ![]()
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Orangebasket:Stop embarrassing yourself. Where's your credible source? Stop disgracing yourself for once
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[s] Orangebasket:[/s] Here you have it. Mr onuku the liar. Stop embarrassing yourself ![]()
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Orangebasket:Stop embarrassing yourself. Shame no dey catch you?
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[s] Orangebasket:[/s] I will help you to further embarras yourself since you don't want to have commonsense. Here it is once again from different news channels ![]()
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.. Meanwhile its the "world-class airport" for me