Connect with us

Business

Bill Gates Highlights Nigeria’s Low VAT, Government Plans to Increase Health Funding

Published

on

Photo source: Google

During the Nutrivision 2024 dialogue in Abuja, Bill Gates, co-chair of the Bill and Melinda Gates Foundation, emphasized the urgent need for improved public health and nutrition strategies in Nigeria.

He highlighted the country’s relatively low Value Added Tax (VAT) rate, suggesting that Nigeria’s tax revenue is significantly lower than it should be.

Gates expressed optimism about the Nigerian government’s plans to increase its contributions to health-related initiatives and fund more public health programs.

He underscored the importance of sustainable financing for public health improvements during the National Economic Council meeting in Nigeria.

In parallel, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, revealed a proposal to raise the VAT rate from 7.5% to 10%.

Advertisement

This potential move aims to bolster government revenue collection and provide additional resources for crucial public services, including healthcare.


 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Hamster Kombat Unveils Anti-Cheating Plan

Published

on


Hamster Kombat has introduced a new anti-cheating strategy to ensure fair play and protect dedicated players. The initiative targets those attempting to manipulate the game for extra benefits, issuing a “cheating is bad” warning that could affect their positions for the airdrop distribution on September 26. The team emphasized the importance of rewarding honest players and creating a secure environment.

As Season 1 of the Telegram-based Web3 game ends on September 20, Hamster Kombat will take a snapshot of the game’s activities to determine airdrop eligibility. The game, which has over 300 million users, is focused on maintaining fairness ahead of its upcoming Season 2 launch.


 

Continue Reading

Business

Binance Launches ‘Moonbix’ on Telegram

Published

on


Binance announced the upcoming launch of “Moonbix,” a play-to-earn (P2E) game on Telegram’s Mini App. In this game, players explore galaxies, collect items, and earn crypto rewards. Although the game leaked early, Binance is fine-tuning it for an official release and warned users to stay cautious of impersonation scams.

Telegram Mini Apps, introduced in 2023, have seen massive engagement, with popular apps like Hamster Kombat driving crypto adoption. Telegram’s integration with The Open Network (TON) has further contributed to this growth.


 

Continue Reading

Business

Nigeria Earned $1.2bn from Telecom Licenses, Says Obasanjo

Published

on

Photo source: Google

The Federal Government generated around $1.2 billion from telecom license fees during the early stages of mobile technology in Nigeria, with major operators like MTN, Globacom, Econet (now Airtel), and Etisalat (now 9mobile) contributing to the sum.

These fees were instrumental in laying the foundation for the country’s telecom industry, which officially began in 2000.

The sector has since become a key driver of Nigeria’s economic growth.

Former President Olusegun Obasanjo highlighted this achievement during a book launch held in Lagos on Tuesday.

He reflected on how the licensing of these operators marked a pivotal moment in Nigeria’s technological and economic development, allowing the country to leap into the era of mobile communication.

Advertisement

Obasanjo acknowledged the critical role these funds played in shaping the telecom industry, which has become one of the most significant sectors in the nation’s economy today.

The successful auction of these telecom licenses provided the capital necessary to build the infrastructure and networks that have connected millions of Nigerians, driving economic activity and fostering innovation across various industries.


 

Continue Reading

Trending