Only four states—Lagos, Rivers, Oyo, and Bayelsa—received less than they contributed.

An analysis of revenue allocation data from Nigeria’s Federation Account Allocation Committee (FAAC) has highlighted some disparities in the redistribution of Value Added Tax (VAT) proceeds among states.

Agora Policy, in a data analysis shared on its X account on Tuesday, highlighted inequalities in VAT distribution among states.

Data analysis from the policy think tank highlighted how Lagos State, the top VAT contributor for the first 10 months of 2024, was allocated 16.78 per cent of its contributions. Meanwhile, Imo State received a staggering 1,715.98 per cent of its contributions during the same period.

The data, which covers VAT contributions and disbursements from January to October 2024, reveals some distortions in how funds are distributed under the federal system.

Lagos contributed N2.21 trillion in VAT, accounting for the highest share of the total pool. Meanwhile, Imo’s contributions stood at N3.33 billion, the lowest among the states. But Imo received N57.09 billion, a figure significantly higher than what it contributed.

The report categorised states based on the proportion of VAT they received relative to their contributions.

Only four states—Lagos, Rivers, Oyo, and Bayelsa—received less than they contributed.

Seventeen states, including Kano and Kaduna, received between 101per cent and 300 per cent of their contributions, while eleven states, such as Bauchi and Ekiti, were allocated 301 per cent to 500 per cent.

Four states—Imo, Abia, Cross River, and Kebbi—benefited the most, each receiving more than 500 per cent of their VAT contributions.

Agora Policy’s analysis highlights Lagos and Imo as outliers.

For the ten months under review, the highest total VAT allocation to a state was N371.09 billion. In contrast, Nasarawa received the least allocation, totalling N47.07 billion with a difference of N324.02 billion.

Value Added Tax (VAT) remains a crucial revenue source in Nigeria’s fiscal framework, with collections distributed among the federal, state, and local governments through a set formula.

The federal government currently retains 15 per cent, states receive 50 per cent, while local governments are allocated the remaining 35 per cent.

Critics argue that the current inter-state sharing formula—based on factors such as population, equality, and landmass—does not favour high-revenue states like Lagos and Rivers which contribute significantly to VAT collections.

Earlier in October, President Bola Tinubu submitted four fiscal bills to the National Assembly, including the Nigeria Tax Bill 2024 and the Tax Administration Bill.

Among the proposed measures is a plan to reduce the federal government’s VAT share to 10 per cent, while states’ allocations would reflect a derivation principle, allowing states to earn more based on the revenue collected within their borders.

However, the new tax proposals have generated controversy, particularly from northern elites, who fear the reforms could place their region at a disadvantage.

The Presidency on Wednesday highlighted reasons every Nigerian may need to acquire the soon-to-be-launched general multipurpose ID card of the National Identity Management Commission (NIMC).

In a sensitization video posted on X by President Bola Ahmed Tinubu Media Centre, the Presidency noted that the card will provide access to government interventions, reflecting efforts to enhance transparency in social contracts with citizens.

In addition, it said the cardholders can easily access loans from any government and other financial institutions as they come with verifiable credit scores based on their past financial records.

Recall that the Nigerian Consumer Credit Corporation (CREDICORP) recently announced that it has entered into a partnership with NIMC to fast-track the building of credit scores for all Nigerians with the National Identification Number (NIN).

Driving financial inclusion

While noting that the multipurpose card would soon be available to the general public, the Presidency emphasized its resolve to bring more Nigerians into financial inclusion through the multipurpose card.

“The National ID Card aims to bring over 100 million Nigerians into the banking sector as it automatically bestows on them an inclusion that has evaded more than half of the country’s population for a very long time,” it said.

“Users also have the option of requesting either credit or debit cards,” it added.

While the NIN is already a prerequisite for obtaining an international passport and driver’s licence, among others, the Presidency said this will now be required to apply for government jobs as well as private sector jobs.

It said this would give employers confidence on the profile of the job seekers as verified citizens without questionable records.

How to get the card

Explaining the modalities for the distribution of the cards during a media workshop in Lagos last week, the Head of Card Management Services at NIMC, Dr. Peter Iwegbu, noted that while the NIN is mandatory for every Nigerian, those who need the card would have to request for it.

While noting that the multipurpose cards would launched in a matter of weeks as the sample test cards had been received, Iwegbu, said NIMC has also decentralised requesting and collecting the banks to make it easy for Nigerians.

According to him, the NIMC is working with banks across the country, which will make it possible for people to walk into any bank closest to them and request a card.

He said the Commission would also ensure that the cards are issued at uniform price across the banks.

Backstory

The NIMC in April this year announced plans to launch a multipurpose National ID card that can serve the purpose of identity verification, payments, and even government services.

The card to be powered by AfriGO, was launched in partnership with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS)

Information released by the NIMC reveals that the card will be enabled for all government intervention and services across multiple Ministries, Departments, and Agencies (MDA).

Among other capabilities and functionalities, it will also be enabled for the eNaira in compliance with the EMV operational and security standards.

The former president emphasised the critical role of leadership at all levels of government, urging leaders to implement policies and projects that promote unity over short-term praise.

Former Nigerian president, Goodluck Jonathan, has stated that Nigerians are more loyal to their ethnic nationalities than to the country which has prevented a collective approach to move Nigeria forward.

Speaking at a forum in Effurun, Delta State, Jonathan disclosed the importance of the federal legislators also seeing themselves as representatives of the entire nation rather than their individual states or ethnic groups.

"You are a member of the Nigerian National Assembly, either the Senate or the House of Representatives. You are not a member of the assembly of your people at the state assembly," Jonathan stated.

"We must begin to take the whole country as our people if we are to get out of this quagmire."

"Nigeria is not the only country with multiple nationalities, but it remains a place where people have yet to see themselves as common citizens of one nation. As long as this persists, genuine development will remain elusive.

"After over 100 years of amalgamation, Nigerians should have recognized the benefits of unity, especially given our geography and ecological diversity," he said.

"Yet, from that time to now, we have failed to develop the sense of unity required to see ourselves as one.

“Currently, the forces pulling us apart are too strong. We must weaken the divisions along ethnic and regional lines and embrace the idea of a united nation.

“We are more loyal to our ethnic groups than to the nation. Nigeria, as it stands, is a collection of small ethnic nationalities, each prioritizing its interests. Over time, the divisions between these groups have only deepened.

“Other countries with diverse nationalities have managed to overcome these barriers, evolving into unified nations. Until we achieve this transformation and break down these ethnic boundaries, progress will remain elusive,” he stated.

The former president emphasised the critical role of leadership at all levels of government, urging leaders to implement policies and projects that promote unity over short-term praise.

“Under the constitution, it’s straightforward to appoint one minister per state, given there are 36 states. However, it becomes more complex when appointing heads of agencies and parastatals, as this often attracts accusations of favoritism or nepotism,” he explained.

Former Manchester United youth coach, Jonathan Hill, has expressed interest in taking on the coaching job of Nigeria’s national football team, the Super Eagles.

This comes at a time when the Super Eagles are seeking stability and a new direction following recent changes in the coaching staff.

Note that a former Nigeria international, Augustine Eguavoen, has successfully led the Super Eagles to qualification for the 2025 Africa Cup of Nations.

Despite this achievement, the Nigeria Football Federation (NFF) remains focused on bringing in an expatriate coach who can provide a fresh perspective and approach to the team’s strategy and development.

Hill, who recently concluded his tenure as the assistant coach at Rotherham United in the English Football League, has already taken proactive steps by submitting his application to the NFF for the head coaching position.

In a conversation with Sports Boom, he shared his enthusiasm for the role, stating, “This is a position I very much fancy because of its demanding nature and the relentless pursuit of delivering top results.”

He highlighted his admiration for Nigerian players, noting, “I’ve always known Nigerian players to be incredibly athletic, technically skilled, and brimming with energy.”

Hill emphasized the extensive talent pool in Nigeria and expressed his commitment to nurturing young players who align with the team’s philosophy and can elevate the national squad’s performance on an international stage.

[Sportsboom ]

The Nigeria Customs Service (NCS), has intercepted 21 vehicles worth several billions of naira stolen from Canada.

This was disclosed by the Comptroller General Bashir Adewale Adeniyi, on Tuesday, November 26.

The Customs boss also displayed arms and ammunition intercepted inside a commercial bus coming from Aba in Abia State to Lagos.

Among the vehicles stolen were three 2021 Toyota Highlanders; one Mercedes-Benz G550; Range Rover Sport; one Mercedes-AMG GT with Lamborghini Huracan; one Rolls Royce; Lamborghini 2019 Model; two Range Rovers (2023 & 2018 Models); 3 Toyota Highlander 2021 Models, among others.

Addressing journalists during the handing over of the seized vehicles, the Customs CG who revealed that West Africa has emerged as a notable destination hub in the global stolen vehicle trade network, revealed that the vehicles were Intercepted in Lekki, Tin-Can Island in Lagos and Onne Port, Rivers State.

According to him, the network extends from Europe and North America to as far as South America and Australia.

“Over the past several months, we have intensified our operations against vehicle trafficking syndicates operating within our borders. According to INTERPOL reports, West Africa has emerged as a notable destination hub in the global stolen vehicle trade network, which extends from Europe and North America to as far as South America and Australia.

This challenge is particularly acute in Nigeria – National Bureau of Statistics data showed that between 2013-2015, only 54% of stolen vehicles were recovered, highlighting the scale and sophistication of this criminal enterprise.

The growing incidence of stolen vehicles finding their way into our region has become a matter of serious concern, as it not only undermines our legitimate automotive market but also strains our security infrastructure,” he stated.

Comrade Abubakar J. Abdullah, the Chairman of the Academic Staff Union of Polytechnics (ASUP), Kaduna Polytechnic Chapter, has said that if the Federal Government fails to meet the demands of the union, all polytechnics across the country will be closed by December 2.

He explained that the union leadership issued a 15-day ultimatum to the Federal Government on October 6, 2024, outlining pressing demands aimed at resolving the systemic challenges that hinder the progress of polytechnics. However, he said the government failed to address the issues.

Speaking at a news briefing on Tuesday, Nov. 26, in Kaduna, the chairman listed some of the demands, including swift release of the second tranche of the NEEDS Assessment Intervention fund, immediate implementation of the approved 25/35% salary review across all public polytechnics, and the payment of accrued arrears.

Other demands are the release and final resolution of the decades-long arrears of CONTISS-15 migration for lower cadres, the release of outstanding promotion arrears, addressing inadequate funding, and resolving the issue of unpaid allowances.

“Regrettably, as we passed the deadline of this ultimatum, we are yet to see the necessary actions from the Federal Government to address these pressing demands. The silence and inaction have left us with no option but to consider the possibility of a total shutdown of our institutions, scheduled for December 2nd, 2024, should our concerns remain unaddressed,” he said.

Comrade Abdullahi said the survival and quality of the educational system hinged upon the government’s responsiveness.

He stated that the union believe that a strong education sector is vital for the future of the nation and cannot afford to compromise on these issues any longer.

He urged the Federal Government to engage in meaningful dialogue with the union and take decisive steps towards resolving these challenges.

Vice President Kashim Shettima, on Wednesday, departed Abuja for Abidjan, Côte d’Ivoire to attend the opening of the International Exhibition of Extractive and Energy Resources 2024 conference.

The event holds from November 27 to December 2, 2024, at the Abidjan Exhibition Centre.

Shettima’s visit is “At the invitation of Côte d’Ivoire’s Vice President Tiémoko Meyliet Koné,” Senior Special Assistant to the Vice President on Media and Communication, Mr. Stanley Nkwocha, said in a statement on Wednesday.

The statement is titled ‘VP Shettima Leaves For Abidjan, To Attend SIREXE 2024 Opening Ceremony.’

SIREXE conference is an international event organised by the Government of Côte d’Ivoire that focuses on “Policies and Strategy for the Sustainable Development of the Extractive and Energy Industries”.

“The VP will utilise the event to share Nigeria’s experience in the hydrocarbon exploration and production sectors,” said Nkwocha.

The Vice President is expected to return to Abuja later today (Wednesday).

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the country’s foreign reserves rose to $40.88 billion as of November 21.

Cardoso spoke on Tuesday at a press conference after the monetary policy committee’s 298th meeting in Abuja.

He said the external reserves grew from $40.06 billion at the end of October to $40.88 billion in November.

The amount represents an increase of $82 million or 2.05 percent in 21 days.

“The external reserves rose marginally to 40.88 billion as of 21 November 2024, from 40.06 billion at the end of October 2024, available to finance 17 months of imports,” he said.

However, checks on the apex bank’s website showed that Nigeria’s foreign reserves stood at $40.27 billion on November 22 – less than what Cardoso presented.

Further speaking at the event, Cardoso said “the process of getting us where we are in terms of reserves has been a long one”.

“It is a clear indication that the policies we have put in place are certainly yielding fruits,” he added.

“However, and it’s very important to make a distinction here and to reiterate the fact that reserves are there for a multiplicity of different purposes, not least of which is to create buffers in the event of unanticipated shocks.

“So they are not there to simply whittle away. They are there to be used to more or less defend yourself where that becomes necessary.

“And when we talk about shocks that are not anticipated, I think we can see how the global economies are.”

Cardoso also said the bank will continue to intensify efforts to stabilise the currency and prices.

According to the CBN governor, “the currency has been stable compared to what it was in June”.

But he said for the value of the country’s currency to be stable, there needs to be increased exports and diversification of the economy.

Cardoso said diaspora remittance has increased due to policies that have been put in place.

He commended those in the diaspora for helping the country accomplish over $600 million in remittances.