Business
Nigeria Google customers to pay 7.5% VAT from April 1

Google’s customers in Nigerian will start paying 7.5 per cent as value-added tax, from April 1, 2022, the firm has said.
Google said in a statement that the VAT rate was for all those using its platform for business in the country.
The firm added that it was to comply with Nigeria’s legislation on VAT which came into effect on February 1, 2020, under the new Finance Act.
It said the VAT rate charge would be applicable to customers operating a Google business account.
The company said, “Due to new legislation in Nigeria, starting April 1, 2022, Google will be required to charge 7.5 percent VAT on all taxable goods and services.
No action is required on your side with regard to your Google business account.
“The amount of VAT charged on purchases would appear as a separate line in customers’ business accounts and invoices or statements will also show the amount of VAT charged.
“Notable changes to customers’ Google business account: the amount of VAT charged on your purchases will appear as a separate line in your account; your invoice or statement will show the amount of VAT charged,” it said.
It added, “Google can’t advise you on tax matters, so please contact your tax adviser for any questions regarding this change.”
Already, Facebook and Zoom have started charging 7.5 per cent VAT on all services provided to Nigerian customers.
Business
Ortom suspends mining activities in Benue to curb insecurity

Benue State Governor, Samuel Ortom, on Thursday ordered the immediate suspension of mining activities in the state as a means of curbing security threats emanating from that area.
He gave the directive at the meeting held with Kwande stakeholders at the Benue State Government House, Makurdi.
The governor said the activities of miners were already posing threat to the peace of the state.
He said that the state government would set up committees at state, local government and ward levels to regulate the activities of the miners.
He said, “Recent events in the Kwande Local Government Area are posing danger and threat to the peace in council and the state in general and this is as a result of mining activities in the area.
“We know that there are some miners with licences from the Federal Government because it is the responsibility of Federal Government to grant licences.
“We know that some of the miners don’t have licences; we have foreigners and indigenous ones among them.
“As a result of the danger the activities of the miners pose in the state, we hereby suspend all mining activities in the state including those with licences.
The governor asked all licensed miners to register with the state Ministry of Land, Survey and Solid Minerals.
Business
Emirates Suspends All Nigerian Flights Over $85m Blocked Funds

Business
Niger, Benin, Togo Owe Nigeria N5.8bn For Power In 2020 – Report

The Republic of the Niger, Republic of Benin and Togolese Republic did not pay a N5.86 billion electricity debt in 2020 from an invoice of N16.31bn issued to them by the Nigerian Electricity Market (NEM) for the year.
According to the report for 2020 released by the Nigerian Electricity Regulatory Commission (NERC), the companies for each of the countries are Societe Nigerienne d’electricite (SNE), Societe Beninoise d’Energie Electrique (SBEE) and Compagnie Energie Electrique du Togo (CEET) respectively.
The remittances showed that the Nigerian Market Operator (MO) gave the countries N16.31bn from which they paid N10.45bn for the services received from MO, while N5.86bn was outstanding.
Ajaokuta Steel Company Ltd, termed a special customer in Nigeria, and its host community did not pay anything after consuming N1.08bn worth of electricity in the year. The invoice from Nigerian Bulk Electricity Trading (NBET) to the company was N930m, while that of MO was N150m. NERC recommended in the report that, “MO and NBET must activate the relevant safeguards against continued non-settlement of market obligations by these market participants.”
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Also, in 2020 NERC issued five new generation licences and renewed three others which would add 667.70 megawatts (MW) to the grid. The new licences can add 235MW while the renewed licences were for 346MW capacity of electricity generation. It also gave approval to 33 Meter Asset Providers (MAPs) and certified 17 Meter Service Providers (MSPs).
On metering, the report indicated that 537,400 meters were installed for consumers in 2020, a 60.4 per cent higher figure than the 334,896 meters installed in 2019.
Despite this, the huge metering gap for end-use customers is still a key challenge in the industry. Registered customers grew to 11,841,819 (11.8m) in 2020 but just 4,666,191 (4.6m) or 39.40 per cent of them were metered.
“Therefore, 60.60 per cent of the registered electricity customers are on estimated billing contributing to apathy toward payment for electricity bills,” it stated.
Daily Trust
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