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Nigeria Earned N275bn From VAT In Q3 — NBS

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NBS

The country earned a total of N275.12 billion from Value Added Tax in the third quarter of this year, figures released by the National Bureau of Statistics have revealed.

The NBS in its VAT report which was released on Monday said the N275.12 billion earnings represents a decline of N36.82 billion when compared with the N311.94 billion generated in the second quarter.

The report stated that during the period, professional services generated the highest amount of VAT with N32.09 billion.

This is closely followed by other manufacturing which generated N30.27 billion; while commercial and trading activities generated N14.47 billion.

It added that mining generated the least and it was closely followed by textile and garment industry, pharmaceutical, soaps and toiletries with N44.30 million, N253.83 million and N291.06 million generated respectively

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The report stated that out of the total amount generated in 2019, N150.74 billion was generated as Non-Import VAT locally while N63 billion was generated as Non-Import VAT for foreign. The balance of N61.37 billion was generated as NCS-Import VAT.

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2 Comments

2 Comments

  1. Kelvin Agbogidi

    December 3, 2019 at 12:02 am

    And still we don’t get value for anything

  2. Nickson Charles

    December 2, 2019 at 1:21 pm

    Even at that such amount of money earned Nigerians are still starving of hunger

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Business

Peace Mass Transit Launches 50 Brand New Buses [PHOTOS]

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Peace Mass Transit (PMT) Limited, the leading mini-bus transport company in the country, has readied a total of 50 brand new buses for injection into its fleet.

The buses are all products of newly established PMT Vehicle Assembly Plant, located within the Emene Industrial Layout headquarters of the company.

PMT Executive Director in charge of operations, Enete Ifeanyi Henry Clinton disclosed that the new buses would be assigned to drivers and has already being deployed to all the PMT depots across the country.

Peace Mass Transit has an active fleet of 4,000 buses with at least 2,000 on the road daily. It regularly freshens up the fleet to meet customer expectations and also maintain its market leadership.

PMT Founder and Chief Executive Officer, Chief Samuel Maduka Onyishi, maintains he runs the company as a “ministry” and not strictly as a business, and would, always do what it takes to keep the company as an industry leader, at all times.

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“The brand new buses we are injecting cost almost N 17 million per unit, but I have a pact with both God and our huge clientele to offer the best possible services at all, times,” he stated after inspecting the newly assembled buses on Monday.

Customers are encouraged to book online through www.pmt.ng, or visit our website –peacegroup.ng

Chief Onyishi, Member of the Order of the Niger (MON) expressed gratitude to God and also to Nigerians who have trusted the brand (PMT) for over 20years. He urged them to keep their faith in the company and promised to always deliver beyond their expectations.

“Our customers deserve even more and no less,” he added. “We will never take their patronage for granted because they have brought us this far.”

He reiterated that the introduction of the new buses was a “strategic fleet rejig” and in no way signified or suggested older vehicles had any maintenance issues or were about to be discarded.

“Our maintenance culture is top-notch and the team is manned by technicians and engineers some of whom were trained abroad.

All PMT vehicle plying the highway, are regularly checked for maintenance, to avoid breakdown. All our vehicles run on strong quality tires which are replaced upon attainment of a certain mileage.’’

He reiterated that the introduction of the new buses was a “strategic fleet rejig” and in no way signified or suggested older vehicles had any maintenance issues or were about to be discarded the chairman concluded.

Special, distinguishing features of the new buses include, but not limited to EBS/ABS brake system combined, digital dashboard, factory-fitted speed limiter, on-board TV, and DVC player for customers’ non-stop pleasure.

According to the Executive Director, Ifeanyi, ‘’Multiple charging points and luggage controls are being provided, with all the buses fully air-conditioned, which includes protective seat belts for all passengers.

Free Wi-Fi services for passengers are still in the works.

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‘I Didn’t Inherit Any Money From My Father, I Built Everything From Scratch’ — Dangote

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Africa’s richest man, Aliko Dangote has revealed that he didn’t inherit any money from his father.

He stated that he built his empire from nothing.

It is widely believed that the Billionaire inherited his wealth from his late father, Mohammed Dangote.

Speaking in a new interview, Dangote however confirmed that his father who died when he was only 8 years old was actually wealthy but he (Dangote) gave out the things that his late father willed to him to charity, and started his own life.

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Aliko Dangote is now valued at $14bn by Forbes and this makes him the 95th richest person in the world.

He has the largest cement company in Africa and his refinery in Ibeju-Lekki when completed is set to be one of the largest in the world.

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Dangote Shuns Innoson Motors, Orders 10,000 Trucks From Indonesia

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Dangote Group has concluded plans to purchase 10,000 light pickup trucks.

But the company appears to have shunned Nigerian carmaker, Innoson Vehicle Manufacturing, IVM, as the trucks are coming in from Indonesia.

Putu Juli Ardika, the Indonesian Director of Maritime Industry, Transportation Equipment and Defense Equipment, said the vehicles would be purchased by Aliko Dangote through his company, Dangote Group.

Ardika explained that the trucks would be imported into Nigeria to serve as means of transportation to rural communities.

He said the vehicles would be used by farmers and others in Nigeria’s agricultural value chain, to transport water, cassava, and seed processors.

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“Dangote’s team will check three units as a sample to be brought to Africa at the end of January.

“The trucks are set to be exported over five years, with 1,000 units to be exported this year and next year,” Putu said.

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