Governors Reject VAT Hike, Endorse Tax Reforms
From Victor Osula, Abuja The Nigerian Governors’ Forum has opposed the proposed increase in Value Added Tax rates and reaffirmed its support for ongoing legislative efforts to enact comprehensive tax reform bills. This stance was disclosed following a high-level meeting with the Presidential Fiscal Policy and Tax Reforms Committee in Abuja on Thursday. Chairman of the committee, Taiwo Oyedele, had earlier revealed that a proposed executive bill submitted to the National Assembly seeks to increase VAT from the current 7.5% to 10% in 2025, with a further increment to 12.5% between 2026 and 2029. However, the governors unanimously rejected the proposed VAT hike, citing concerns about its potential adverse effects on businesses and consumers. Rising from the meeting, the governors …
Read More
Read More
OPEC: How Dangote Refinery Is Disrupting Europe’s Oil, Gas Market
By Ayo Kehinde The Organisation of Petroleum Exporting Countries (OPEC) has highlighted the significant impact of the $20 billion Dangote Refinery on Europe’s oil and gas market. The Dangote Refinery, owned by Africa’s richest man, Aliko Dangote, has been recognised as the world’s largest single-train refinery. Operational since January 2024, the refinery, with a daily refining capacity of 650,000 barrels, began producing petrol in September 2024, marking a significant shift for Nigeria, which previously relied heavily on fuel imports. In its monthly Oil Market report released on Wednesday, OPEC noted that the production of petroleum products by the Dangote Petroleum Refinery has reduced the importation of refined products from Europe. Latest data from the oil cartel indicates the refinery’s growing …
Read More
Read More
NBS: High Demand For Goods, Services Push Nigeria’s Inflation To 34.8% In Dec 2024
From Victor Osula, Abuja Nigeria’s inflation rate jumped to 34.8 percent in December, from 34.6 percent in November, the National Bureau of Statistics (NBS) said on Tuesday, in its December Consumer Price Index report (CPI). The NBS noted that the “December 2024, Headline inflation rate showed a marginal increase of 0.20% compared to the November 2024 Headline inflation rate. This was due to December festive period increases in demand for goods and services. “On a year-on-year basis, the Headline inflation rate was 5.87% higher than the rate recorded in December 2023 (28.92%). “This shows that the Headline inflation rate (year-on-year basis) increased in December 2024 compared to the same month in the preceding year (i.e., December 2023). “On the contrary, …
Read More
Read More
USSD Debt: NCC Okays Telcos Request To Disconnect Jaiz, Sterling, Wema, Six Other Banks
From Victor Osula, Abuja In a public notice, the Nigerian Communications Commission (NCC) has granted permission to telecommunications operators to disconnect the Unstructured Supplementary Service Data (USSD) codes assigned to nine financial institutions due to unpaid debts. A statement signed on Wednesday, by NCC Director of Public Affairs, Reuben Muoka, said as of Tuesday, January 14, 2025, nine out of 18 financial institutions had not complied with regulatory directives to clear their debts. It warned that affected banks must settle their outstanding obligations by January 27, 2025, or risk losing access to their USSD codes. The total amount initially owed by the financial institutions was reported to exceed N200 billion. NCC said some of the invoices have remained unpaid since …
Read More
Read More
Tinubu Says Global Collabo is Key to Sustainable Dev
President Bola Ahmed Tinubu assured a global audience Wednesday in the United Arab Emirates that Nigeria is ready to work with other nations to build a resilient, equitable, and sustainable world for all. President Tinubu spoke on the second day of the 2025 Abu Dhabi Sustainability Week on “From Climate Imperatives into Economic Prosperity: Bridging Africa with the Global Energy Future. ” The president declared that no single nation can walk the road to sustainability alone, stressing that global interconnectedness demands collective action, knowledge sharing, and mutual support. “The fight against climate change is not merely an environmental necessity but a global economic opportunity to reshape the trajectory of our continent and the global energy landscape. “As leaders, stakeholders and …
Read More
Read More
UNILAG To Introduce Post-Graduate Programmes in Digital Humanities
Prof Ope- Davies The University of Lagos (UNILAG) is set to establish Postgraduate Diploma (PGD), Master of Philosophy (M.Phil.), and …
Read More
Read More
Kogi Govt Condemns Rape of 3-year-girl, Vows to Prosecute Suspect
From Joseph Amedu, Lokoja The Kogi State government has vowed to prosecute a 40-year-old man, Mr Elisha Daniel , accused …
Read More
Read More
Tinubu Congratulates Nigerian Scientist, Engineers on Making Biden ‘s Honours List
President Bola Tinubu congratulates six distinguished Diaspora Nigerians named by President Joe Biden among the 400 recipients of the Presidential …
Read More
Read More
Minister of Info: We Don’t Need Emir Sanusi’s Approval for Our Laudable Policies
The Federal Government notes the recent remarks by His Highness, Emir Muhammadu Sanusi II, regarding the economic reforms introduced under …
Read More
Read More
UAE President to Visit Nigeria
United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan has accepted Nigerian President Bola Ahmed Tinubu’s invitation to visit …
Read More
Read More
Kano Alerts Public Over Avia Influenza Outbreak
By Ayo Kehinde The Kano State Ministry of Agriculture and Natural Resources has issued a public alert over an isolated …
Read More
Read More
Parents Plan Showdown with Lagos Govt Over Increased Boarding Fees
By Ayo Kehinde Parents of students in Lagos State model colleges are planning to embark on a mega protest rally …
Read More
Read More
CHAN 2025: Super Eagles Drawn in Group D
By Ayo Kehinde The Super Eagles CHAN team has been placed in Group D for the upcoming African Nations Championship …
Read More
Read More
We strongly believe the Judiciary will do the right thing’, Says Ighodalo
Candidate of the Peoples Democratic Party (PDP) in the 2024 governorship election in Edo State, Dr Asue Ighodalo, has reiterated …
Read More
Read More
Suya Spot Parliamentarians: Leaders Are the Demons We Create, By Prince Charles Dickson
Prince Charles Dickson Ph.D. “If goat dey chop yam, na who open barn door we go ask.” In the bustling …
Read More
Read More