The Senate, having passed the sum of N30,000 new Minimum Wage bill into law, as the new wage, just as their counterparts have done in the House of Representatives.
Rumours have it that the new minimum wage structure is an avenue for the Federal Government to increase Value Added Tax by 50%. The decision was aimed at enabling the government to generate revenues that would guarantee the payment of the new minimum wage of N30,000.
The Minister of Budget and National Planning, Senator Udo Udoma in company of the Chairman of the Federal Inland Revenue Service, Mr Fowler Tunde disclosed this on Tuesday. The disclosure was made while appearing before the Senate Committee on Finance which is considering the passage of the 2019 – 2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
According to the government officials, the 50 percent increment in VAT would among other things, enable the Federal Government to fund the new national minimum wage.
Nigerian crossdresser, Okuneye Idris Olanrewaju, popularly known as Bobrisky, has become embroiled in a scandal following revelations about his brief…
Governor Chukwuma Soludo of Anambra State has introduced free education for all students in public primary and secondary schools across…
The Federal Government has unveiled plans to rejuvenate six national museums as part of efforts to safeguard Nigeria’s cultural heritage.…
The Economic and Financial Crimes Commission (EFCC) has filed fresh charges against former Kogi State Governor, Yahaya Bello, accusing him…
The value of foreign exchange turnover in Nigeria's Autonomous Foreign Exchange Market surged to N15.74tn ($9.90bn) in August 2024, according…
The Academic Staff Union of Universities (ASUU) has issued a 14-day ultimatum to the Nigerian government under President Bola Tinubu,…