Usman Mubaraq

Cyber Sec Educator| SOC enthusiasts
Office365/Security&Compliance/Exchange Online Engineer|
Serial Volunteer|
#OmoIgbomina
#Owu-Isin(Isin LGA)

[Pastor Who @PastorMarvy]

A model Nigerian citizen.

[THINK YORUBA FIRST @ThinkYoruba_1st]

Kizz Daniel took Yorubaland to Germany 🔥
He stepped out in Fila Abeti Aja and made Yoruba culture the focus of the stage 🎤👑
People say they love Yoruba, but moments like this show they mean Yoruba culture ❤️

Credit: blondgirl87/TikTok

[Igbalode farmer @Farmexecutive]

Get a Yoruba translator

[Reno Omokri @renoomokri]

The Federal Government of Nigeria Endorses Reno Omokri's Wear Made-In-Nigeria Campaign

[Michael Chibuzo® @chibuzo_mikel]

Tax Reforms: X-raying the Recommendations of the Nigerian Governors' Forum

By Michael Chibuzo

Following the insistence of President Bola Tinubu that he will not withdraw the tax reform bills he already sent to the national assembly for legislative action, many of those who were against certain provisions of the bills decided to engage in consultations that will yield their own recommendations especially in areas they disagree with provisions contained in some of the bills. This is far better than blackmail or rhetorical statements such as "the bills are dead on arrival", "bills will have electoral consequences" or that "bills are anti-North".

One of such groups is the Nigerian Governors Forum (NGF), who were among the first set of groups to ask the President to withdraw the bills for "more consultations" after a meeting of the National Economic Council that held on 31st October, 2024. Yesterday the Governors issued a communique saying that after engagement with the Presidential Tax and Fiscal Reforms Committee concerning the bills they have arrived at some resolutions/recommendations.

These recommendations include:
1. Revision of the VAT sharing formula. Instead of sharing 60% based on derivation and 20% apiece based on population and equality as contained in the Nigeria Tax Administration Bill, the Governors proposed sharing 30% based on derivation, 20% based on population distribution and 50% equal distribution among the 36 states.

2. No VAT rate increase

3. No reduction in company income tax (CIT) as proposed in the Nigeria Tax Bill from 30% to 25%.

4. TETFUND, NASENI and NITDA should continue to receive a share of the proposed development levy.

Among these four recommendations, it is clear that VAT sharing is the most important thing in the minds of many of the governors. I want to believe that the resolutions were not unanimously endorsed by all the 36 state governors but just a majority of the governors. This is not surprising to me because like I pointed out before now, VAT is the single biggest component of revenue that most states receive from the federation account.

VAT revenue that accrue to states in a year is more than the IGR of at least 33 states of the federation. VAT revenue grows significantly every year but the IGR of states appear stagnant or increases only marginally. So, it is understandable that the governors would be more interested in maintaining the level of VAT revenue they get annually than improving their internally generated revenue base.

NGF'S PROPOSED VAT SHARING FORMULA IS COUNTERPRODUCTIVE

I must state clearly that the VAT sharing formula that the governors are proposing is patently backward. First, it is not so different from the current sharing formula. The only change is swapping the percentage currently shared based on population distribution (30%) and that shared based on derivation (20%), leaving the elephant in the room - 'percentage distributed equally' intact at 50%. This is simply coming back to status quo or even worse considering how Lagos and Rivers would be affected.

It appears members of the NGF do not realise that the major reason for the revision of the VAT sharing formula in the Nigeria Tax Bill and the Nigeria Tax Administration Bill is to ward off a judicial challenge by Lagos and Rivers over the continued collection of value added tax federally. The bills sought to change the attribution of VAT revenue from place of remittance (which favours Lagos due to the headquarters effect) to the location of actual consumption, which spreads the pie across the country.

The amount of VAT revenue due to the states to be shared based on derivation was raised to 60%. Furthermore, as a compromise to ensure no state gets lesser VAT revenue than it used to get before the reforms, the federal government agreed to reduce its share from 15% to 10% so that the share accruing to the states can be increased to 55% while that of LGAs remains at 35%.

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[Reno Omokri @renoomokri]

To all my followers worldwide, I urge you to stream Morayo by Wizkid, which has already set the record for the most streamed album on Spotify by an African artist in its first week. Let us help this worthy son of Africa break more records. He is the primus inter pares of Afrobeats, who not only speaks well of Nigeria but also positively projects and promotes Africa. Now, let's pay him back and stream his album here https://t.co/C0dtXxZ4Tx

[Daddy D.O🇳🇬 @DOlusegun]

An exciting news that should not go under the radar is the revelation yesterday by NNPC Ltd that it has started exporting Liquified Natural Gas(LNG) to Asian markets with shipments to Japan and China.

Fantastic news as Nigeria continues to find international markets for our 209trillion cubic feet of gas reserves.

The APC administration from the time of former President Muhammadu Buhari has continued to intensify efforts to diversify Nigeria’s economy by harnessing the potentials in gas resources and this milestone marks another step towards achieving set goals of running an economy devoid of total dependence on oil.

Like President Tinubu said, “I don’t care what Russia will say, I want to compete.”

We will get there..

[Ainà Dipo 🇳🇬 @dipoaina1]

New DG NIA take over from his predecessor

[Ainà Dipo 🇳🇬 @dipoaina1]

"We are going to compete with Russia 🇷🇺" Atiku’s insurrectionist gangs will not be happy about this news.🤪

When I said 70% achievements of policy making and implementation of this current administration was initiated by Tinubu himself not his cabinet members nor advisers. Many thought it was a joke.

For the first time we have visionary leader who leads from the front. Just 1 year in office oo.

Omo logo 16G 🫡
Talk and Do

How it started How it is going

[Imran Muhammad @Imranmuhdz]

The former vice president Atiku Abubakar received the family of Kashim Imam, headed by former Kaduna State Governor Nasiru El-Rufai, at his residence in Asokoro. The purpose of their visit was to formally seek the hand of his daughter, Hafsat Atiku Abubakar, in marriage.

Among the distinguished attendees at the event are the National Security Adviser, Nuhu Ribadu, along with former governors Sule Lamido of Jigawa State and Aminu Waziri Tambuwal of Sokoto State, among others.

[Boss Mustapha Z. @__yellows]

Governor Umaru Bago @HonBago in his farm. The farm has the following features:

1. The 1,000-hectare farm serves as a demonstration of the agricultural ecosystem.

2. Currently, 104 hectares have been cultivated with maize.

3. Another 100-hectare is for soybeans.

4. An additional 100-hectare will be used for livestock, fishery, and poultry.

5. Another 100-hectare will be for growing animal feeds.

6. The farm will also have 100 greenhouses, with construction already ongoing.

7. The lower part of the farm, encompassing about 250 hectares, is swampy and will be used for paddy rice production.

8. Approximately 150hectares of natural shea trees are already in existence and will be conserved.

9. Fifty hectares are dedicated to training, repairs, and the processing of the agricultural value chain.

10. Animal waste will be utilized for bioenergy, while waste from the fish ponds and poultry will be used as manure for the greenhouses.

[Senator Ajibola Basiru Ph.D., BL @DrSRJ_]

Live in Benin City at the Inauguration of the National Campaign Council of APC Edo 2024 Governorship Campaign Council!

[DC_Draino @DC_Draino]

Now THIS is how you protect a President

Trump gets the Secret Service A-team now

[POOJA!!! @PoojaMedia]

Zidane must be there.

Face of Real Madrid. 🔥

[Jubril A. Gawat @Mr_JAGs]

FLASH: Governor of Lagos State, Mr @jidesanwoolu has made some announcements today at the Lagos NYSC Camp:

1. A Sum of N5b for the construction of a new Permanent Site for Lagos NYSC Camp

2. A sum of N100,000 for each Youth Corper passing out today (to be delivered next week directly into their accounts)

3. Automatic Employment into the Lagos Public Service for the best 100 Corpers after service year (for this batch)

And a 32-Seater Hyundai Bus (delivered already today)

#LagosNYSC
#EkoKopa
#GreaterLagosRisng

[Jubril A. Gawat @Mr_JAGs]

SELFIE KING 🤳 🤳 @jidesanwoolu 🔥🔥

#EkoKopa
#GreaterLagosRising

[Lila @LilaL_Hrv]

Hubby sent me this and I’m dying 🤣🤣🤣🤣🤣🫣

[Taofeek T. Gawat 🇳🇬 @tfk_gawat]

📍The Wole Soyinka Centre for Culture and the Creative Arts. 🫱🏽‍🫲🏾🇳🇬💯

📸: @AerialLagos x @tfk_gawat