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NBS says FG Generates N697Bn from VAT in Q4 2022

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The National Bureau of Statistics (NBS) has said the federal government generated N697.38 billion as Value Added Tax (VAT) in the fourth quarter of 2022.

The Bureau disclosed this in its “Sectoral Distribution of Value Added Tax” report for Q4 2022, released on Wednesday.

According to the bureau, the figure represents a growth rate of 11.51 per cent on a quarter-on-quarter basis from N625.39 billion in Q3 2022.

Out of the total amount generated, it said local payments recorded were N408.12 billion, foreign VAT payments were N159.83 billion, and import VAT contributed N129.43 billion in Q4 2022.

The NBS said on a quarter-on-quarter basis, the arts, entertainment, and recreation activities recorded the highest growth rate at 43.82 per cent, followed by human health and social work activities with 35.82 per cent.

“On the other hand, Agriculture, forestry and fishing had the lowest growth rate with –30.12 per cent, followed by activities of extraterritorial organizations and bodies with –19.81 per cent,” the report said.

In terms of sectoral contributions, the report said the top three largest shares in Q4 2022 were manufacturing at 32.17 per cent, information and communication at 18.05 per cent and public administration and defence, compulsory social security at 9.87 per cent.

However, the NBS said that on a year-on-year basis, VAT collections in Q4 2022 increased by 23.71 per cent from Q4 2021.

In its Company Income Tax (CIT) data for Q4 2022, the NBS said the CIT in the fourth quarter of 2022 was reported at N753.88 billion.

It said the figure represents a growth rate of -6.95 per cent on a quarter-on-quarter basis from N810.19 billion in Q3 2022. It added that the local payments received were N353.90 billion, while foreign CIT payments contributed N399.98 billion in Q4 2022.

On a quarter-on-quarter basis, the bureau said the water supply, waste management and remediation activities recorded the highest growth rate with 57.40 per cent, followed by activities of households as employers, undifferentiated goods and services-producing activities of households for own use with 45.19 per cent.

It noted that information and communication activities had the lowest growth rate at – 65.75 per cent, followed by arts, entertainment and recreation activities at -64.09 per cent.

In terms of sectoral contributions, the NBS said the top three largest shares in Q4 2022 were manufacturing at 31.20 per cent, financial and insurance activities at 12.96 per cent, and information and communication activities at 12.77 per cent.


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GMOs are Food Poison – Agric Experts

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Pro organic and agro-ecologists have staged a rally in Ibadan, the Oyo state capital, to protest against Genetically Modified Organisms (GMOs) which they consider as food poison.

GMOs are Food Poison – Agric Experts

The rally was organised by GMO Free Nigeria in collaboration with Organic and Agroecology Initiative (ORAIN).

Olugbenga Adeoluwa, leader of the group and professor of Soil Fertility, University of Ibadan, said they were against genetically modified organisms and raising the awareness of its impending danger.

The News Agency of Nigeria (NAN) reports that a petition was submitted to the Oyo state House of Assembly, and received by Bayo Olaniyan, chief of staff to the Speaker.

The group kicked against the approved genetically modified beans, cotton and maize approved by the federal government.Food and travel guides

They cited toxic herbicides like roundup and others approved by agencies of the government.

Adeoluwa said, “We say no to the incursion of these negative scientific innovations into our food systems, not just in Nigeria, all over the world. Why are we saying this? Genetically modified technology in food systems has been found to counter human health.Food and travel guides

“There are quite a lot of diseases like cancer, organ failure, hormonal failure that have been traced to food consumption, as a result of manipulation of our food system right from the field.”

According to him, there are a lot of research outputs that have been issued recently that have shown the correlation between consumption of GMO foods and human diseases, especially inflammatory of specific organs in human cells.

“I am talking about the organs of test animals which we feel as scientists can also affect humans and so this is why we are saying no to GMOs in Nigeria.

“We know that there are challenges of biosecurity which means that there is no guarantee that allowing these GMO foods and crops into our food system can be curtailed.

“What we are saying is that no to GMOs food in Nigeria, no to anything that could compromise our health, no to negative scientific innovations called GMOs food.”

He encouraged Nigerians to embrace the use of compost and manure, as well as indigenous technology that have been found in seeds and breeds and resistant to diseases, droughts and all manners of things countering healthy living.

Also, Dr. Mojisola Oyewole, a senior lecturer in the University of Ibadan, said the rally was to press home the negative impacts of GMOs.

“The effect of these GMOs on the healthy living of an individual is non-negotiable and so we are in the movement of saying no to GMOs in our society.

Oluwafemi Adebayo, one of the protesters, from the Department of Agriculture Extension and Rural Development, said GMOs had adverse effects on the lives of people.

Chief Moshood Salimonu, a farmer, from Akinyele local government area, said GMO had never been the solution to food security and good nutrition, adding that “I want to see my children grow up healthy and happy.”


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Auditors Urged to Embrace New Technologies in Service Delivery

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Advanced and emerging technologies such as artificial intelligence (AI), blockchain, robotic process automation, data analytics, among others, are critical for auditors, to deliver real-time audit service in a rapidly changing world.

This was the position of Bode Agoro, head of service, Lagos State, at the 15th annual Lagos State Auditors’ Retreat, with the theme, “Digital transformation in audit: Assessing technological threats and opportunities”, held in Lagos on Thursday.

According to Agoro, in line with the retreat’s theme, there are significant challenges and threats associated with auditing task, which should be mitigated. He mentioned cybersecurity risks and data integrity as some concerns that require continuous skills development detect if auditors must deliver efficient service.

“It is auditors’ responsibility to face these challenges head-on, by leveraging technology not only to improve their operations but also uphold public trust in our systems.

“As we navigate an era defined by swift technological advancements, it is crucial for us, as public servants and stewards of accountability, to adapt to these changes with foresight and agility. As auditors, we must uphold a high standard defined by core principles such as integrity, accountability, and transparency.

“These principles are the foundation of our profession and guide us in our mission to ensure that public resources are managed effectively and responsibly. It is our moral and professional obligation to maintain these objectives, regardless of the challenges posed by the digital landscape”, Agoro said.

Kehinde Joseph, chairman, public account committee, Lagos State House of Assembly, also speaking at the event, charged auditors against colluding with officials of ministries, departments and agencies (MDAs) to defraud the government.

According to Joseph, auditors must at all time work to protect public interest without compromising their integrity.

Speaking also, Muyiwa Adetola, permanent secretary/state auditor-general designate, whose office organizes the annual retreat, said a lot of progress had been made in the area of exposing auditors in the state to new trends and tools that aid their capacity for service delivery.

“As the auditor-general of Lagos State, I am proud to say we have made progress in leveraging technology to enhance public accountability. Yet, our journey is far from over. We must not only adopt new tools but also develop frameworks to ensure their ethical and effective use”, Adetola noted.


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Nigeria to Enhance National Grid with Additional 150 MW – Adelabu

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Nigeria is set to boost its national grid by an additional 150 megawatts (MW) of electricity before the end of the year, according to Adebayo Adelabu, the minister of power.

Minister Adebayo-Adelabu

Speaking to journalists after a closed-door meeting with President Bola Tinubu and German President Frank-Walter Steinmeier at the presidential villa in Abuja, Adelabu said the milestone would be achieved following the successful completion of the pilot phase of the presidential power initiative (PPI).

The minister explained that the initiative, implemented in partnership with Siemens, aims to improve Nigeria’s electricity supply through strategic projects.

“We believe that before the end of the year, an additional 150 megawatts will be added upon completion of the entire pilot phase,” Adelabu said.

Highlighting international collaboration as critical to Nigeria’s energy development, the minister underscored the country’s partnership with Germany.

“We have a bilateral relationship with the Republic of Germany that focuses on energy and electricity support,” he said.

“The name of the game now is about cooperation, collaboration, and partnership.”

Adelabu described the Siemens project as a flagship component of the partnership, focusing on implementing both brownfield and greenfield transmission substations under the PPI.

He noted that since the agreement was signed in December 2023 at COP 28 in Dubai, Nigeria has made significant progress. “We have completed the pilot phase of this project up to 80%,” he said.

The pilot phase includes the importation and installation of 10 power transformers and 10 mobile substations, with eight already commissioned.

“The positive impact of this is that it has added nothing less than 750 megawatts to our transmission grid capacity,” he said.

Adelabu outlined plans for the next phase, which will involve revamping 14 existing substations and establishing 23 new ones across the country.

“The entire grid is quite fragile and dilapidated. We need to revamp it to ensure stability going forward,” he added.

In addition to addressing immediate power needs, the minister reaffirmed Nigeria’s commitment to renewable energy as part of its long-term strategy. “We have an energy transition plan to achieve net-zero emissions by 2060,” he said.

Adelabu highlighted Germany’s expertise in renewable technologies, which aligns with Nigeria’s natural resources.

“Germany has technology; we have the sun and wind,” he said, noting that over 30 states in Nigeria enjoy a minimum of 10 hours of sunshine daily.

The minister also discussed plans for off-grid solutions, proposing a distributed power model where each state would have its own generating plants.

“This model will shield states from problems on the national grid and ensure rural electrification,” he said.

“Germany’s involvement extends beyond traditional energy sources; it includes significant investments in green energy projects.”

Adelabu concluded by expressing optimism about Nigeria’s energy future, emphasizing that partnerships with Germany and other stakeholders will help build a robust energy infrastructure to support economic growth.


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