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Makinde Inaugurates €25m Feed Plant to Boost Agriculture

By
Rhoda Onuzulike
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The Governor of Oyo State, Seyi Makinde, opened a €25m fish and feed plant in Ibadan, the state capital, on Thursday.

During the unveiling, the governor said that his administration would continue to provide a conducive environment for businesses to strive, especially for agricultural development and food security.

Makinde stated that the citing of the plant came at the best time when the need to ensure and guarantee food security and increased production became imperative towards meeting the ever-increasing human needs for animal protein in society.

Makinde says plans to make Ibadan airport regional transport hub intact

The governor, represented by the state Commissioner for Agriculture and Rural Development, Olasunkanmi Olaleye, added that the government had executed a series of Memoranda of Understanding with companies to boost fish food production, haulage, training, and research.

He declared that the government at all levels had been proactive in supporting fish farming in Nigeria and other federating states.

“Let me at this juncture commend the management of Skretting Nigeria Limited, a world-class manufacturer of feeds who started operations in Ibadan in 2014 and has grown the company to internationally recognised standards with a production capacity of 125, 000 metric tons per annum in the state.

“These will, in no small measure, go a long way toward making feeds available at affordable prices to our farmers, thereby ameliorating the challenge of the high cost of feed currently experienced by our farmers,” he added.

Nigerian Telecom Giants Seek NCC Nod For Tariff Hike

By
Rhoda Onuzulike
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0

Telecommunications operators in the country including MTN Nigeria and Globacom have asked for Federal Government approval through the Nigerian Communications Commission to raise their tariff.

The development came after foreign exchange losses and rising energy costs forced some of the operators to post losses last year.

The telcos’ proposal to raise their tariff came barely 24 hours after MultiChoice, a South African pay television company raised its tariff. Several companies including Discos and brewing companies have also raised their prices in recent times.

On Thursday, the telcos, under the aegis of the Association of Licensed Telecom Companies of Nigeria and the Association of Telecom Companies of Nigeria, issued a joint statement asking the government to expedite the approval.

The two bodies in their statement explained, “Despite the adverse economic headwinds, the telecommunications industry remains the only industry yet to review its general service pricing framework upward in the last 11 years, primarily due to regulatory constraints.

“For a fully liberalised and deregulated sector, the current price control mechanism, which is not aligned with economic realities, threatens the industry’s sustainability and can erode investors’ confidence.”

Telecoms Investments in Nigeria Grow To $77bn– NCC

The associations called on the federal government to facilitate a constructive dialogue with industry stakeholders to address pricing challenges and establish a framework that balances consumers’ affordability with operators’ financial viability.

The telecom industry appears to be among a few sectors that have yet to review their prices despite the rising inflation in the country amid other economic challenges. They blamed this on the regulatory restraints that have been preventing them from pricing appropriately.

The NCC regulates prices in the telecom industry, and telecom operators are not allowed to implement any price changes without the regulator’s approval. The regulator has said a cost-based study is being conducted to determine if it would approve price increments for the operators.

The Chairman, Association of Licensed Telecoms Operators of Nigeria, Gbenga Adebayo, said in a publication on Thursday that cost reflective tariff was non-negotiable.

“We have seen the impact of price control in other segments of the economy, like power. If providers cannot operate sustainable business models, then they’ll stop investing. When that happens, the existing infrastructure starts to crumble.

“For power, a consumer can choose to take ownership of the solution by buying a generator, or a solar panel. For fuel, the government can step in as a provider of the last resort and manage a subsidy regime that mitigates the impact on the population. Those options are not available in the telecoms sector. There is no self-help solution,” he explained.

The industry has faced significant increases in operational costs occasioned by the scarcity of foreign exchange, network expansion, and upgrades, which have also negatively affected the bottom lines of the operators.

Investment in the sector has also dwindled to $134m in 2023 from $456.8m in the previous year, a decline of $322m, according to the National Bureau of Statistics.

The decline represented a decrease of approximately 70.5 per cent.

NNPCL Blames Logistics Issues For Fuel Scarcity

By
Rhoda Onuzulike
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0

The Nigerian National Petroleum Company Limited (NNPCL) says logistics issues were responsible for the resurfacing of fuel queues in some parts of the country.

According to a statement by its spokesperson, Olufemi Soneye, the issues have now been resolved.

“The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved,” the Thursday evening statement read.

“It also wishes to reiterate that the prices of petroleum products are not changing.”

NNPCL is therefore calling on Nigerians to “avoid panic buying as there is a sufficiency of products in the country”.

NNPCL Debunk Report On Adjusting Fuel Pump Price

READ FULL STATEMENT BELOW:

PRESS RELEASE

NNPC Ltd Says Cause of Tightness in Fuel Supply Resolved

The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved.

It also wishes to reiterate that the prices of petroleum products are not changing.

It urges Nigerians to avoid panic buying as there is a sufficiency of products in the country.

Olufemi O. Soneye

Chief Corporate Communications Officer,

NNPC Ltd

Abuja.

25 April, 2024.

Good Tax System, Attracts Foreign Investment – CITN

By
Rhoda Onuzulike
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0

The Chartered Institute of Taxation of Nigeria has said that there is a need for a good tax system to enable the country to attract foreign direct investment.

The Chairman of Ikeja District Society of CITN, Abiodun Oke, disclosed this during his investiture in Lagos, recently.

“We desire to have an environment where they would be able to work and bring funds to the country. Recently, we have been talking about the foreign direct investment; it won’t come if we don’t have a standard tax system,” Oke said.

He advised that if the Nigerian tax law was considered archaic, then there was a need to update it.

“Look at laws because they would always tell you what is in the law. And so if the law is archaic, it is no longer up-to-date. We need to find a way to bring them on board,” he stated.

Oke expressed hope that, with the inclusion of tax professionals in decisive positions, the issue of multiple taxation would be addressed.

FIRS will not Introduce Additional Taxes – Chairman

“So, multiple taxation has always been there but now our professionals in the tax space have been called upon to sanitise it, and I am sure something good would come out in the near future,” he noted.

He further stated that Nigerians don’t pay taxes because the process was not digitised.

“People don’t pay tax here in Nigeria. There are small businesses that do not pay taxes. A businessman can do billions of naira business in a year and would come and pay personal income tax, maybe because the person runs an enterprise and because he is not a limited company.

“But when such personal transactions are captured digitally, the person can be monitored. So the era of digital technology is what we want to leverage,” Oke affirmed.

He added that his administration would look at the welfare of members to improve relationships

“We have to look at the welfare of our members and see how we can be able to relate to our members almost seamlessly,” he stated.

According to Oke, to be able to do that, the administration needs to have an e-platform where it can reach its members.

He said digitising a lot of processes would enable his administration to keep tabs on members, especially the elderly ones who had given all they had to the district and the institute.

Also, the President of the CITN, and a member of the Tax Reforms Committee, Samuel Agbeluyi, said the committee was planning to reduce taxes payable in Nigeria to 10 from over 60.

“And I tell you they are taking it step by step and from what we are seeing, away from 62 different taxes we pay in Nigeria, we are looking at reducing it to a maximum of 10,” he declared.

Manchester City Beat Brighton To Dim Arsenal’s Premier League Title Hopes 

By
Emenike Agu
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Arsenal’s hopes of winning the Premier League title this season suffered setback as Manchester City beat Brighton 0-4 to close in on reclaiming top-spot.

Manchester City showed their strength by defeating Brighton in an important Premier League match on Thursday night.

This victory has put pressure on Arsenal, who are currently leading the league. Manchester City now only trail Arsenal by one point, and they have an extra game left to play.

The match against Brighton started with Manchester City controlling the game and Brighton trying to counterattack.

Despite some shaky moments in defense, Manchester City took the lead within the first 20 minutes. Kevin De Bruyne scored the opening goal with a header, showcasing a brilliant team effort.

Manchester City extended their lead thanks to a stroke of luck when Phil Foden’s free-kick deflected into the net. Before halftime, Phil Foden scored again after Brighton lost possession near their penalty area, putting Manchester City comfortably ahead by three goals.

In the second half, Manchester City focused on maintaining their lead by slowing down the pace of the game. They managed to score another goal when Kyle Walker’s effort allowed Julián Álvarez to tap the ball into the net.

This impressive victory sends a strong message to Arsenal and the rest of the league. With their powerful attacking play and solid defense, have now moved into second place, just one point behind Arsenal, and their performance has elevated them above Liverpool in the standings.

Sports Minister Refutes  Links With Peseiro For Eagles

By
Emenike Agu
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Sports Minister, John Owan Enoh has refuted the report making the round that he was in advanced talks with former Super Eagles head coach, Jose Peseiro over a potential return as Nigeria’s senior national team manager. 

Enoh in a press statement signed by his Special Adviser Diana Mary Nsan, said the author of the report fabricated it with the sole intent of sensationalism and spreading falsehood. 

He  noted that  it was not his job to influence or interfere in critical decisions designated to the Nigeria Football Federation (NFF) and that his immediate task is to ensure that the NFF properly functions and the sports sector is revamped under the Renewed Agenda of President Bola Tinubu.

“We have been made aware of some news circulating in certain media channels about the Honourable Minister of Sports Development, Senator John Owan Enoh, supposedly in advanced talks with José Peseiro for a potential return as Coach of the Super Eagles of Nigeria. We want to clarify that this news is entirely false and has been fabricated to create sensation,” the Sports Minister as quoted as saying. 

“The Sports Minister, Senator John Owan Enoh, does not interfere or influence critical decisions of the federations, particularly in this case, the NFF. He operates with utmost decorum and ensures that the federations meet the required expectations and standards in the discharge of their duties.

“The Honourable Minister of Sports is committed to ensuring that the sports sector in Nigeria achieves monumental success under the Renewed Hope Agenda. Therefore, we urge Nigerians who love sports , critical stakeholders, including the media, to continue supporting the Federal Ministry of Sports Development and disregard this false news.

“All updates from the Ministry of Sports Development and the Federations will be communicated through authorized and appropriate channels.”

Oil Theft: Fubara Seeks Tougher Action to Curb Menace

By
Rhoda Onuzulike
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0

Rivers State Governor, Siminalayi Fubara, has pledged full support of his administration to the Nigeria Navy in intensifying the fight against oil theft in the state.

Governor Fubara emphasised the need to prevent anyone from undermining the state’s economy during this crucial period.

He stated this while hosting the Chief of Naval Staff, Rear Admiral Emmanuel Ogalla and other senior navy officials during their courtesy visit to the Government House in Port Harcourt on Thursday.

The Chief of Naval Staff during the visit informed Fubara of the Navy’s decision to move the headquarters of its training command from Lagos to Rivers State.

Governor Fubara expressed confidence that the visit by the Naval Chief would help change the negative narrative associated with the state.

Nigeria Lost N4.3tn to Oil Theft in 5 Years- FG

He commended the Navy’s achievements in combating crude oil theft and assured continued moral and logistics support from the state government.

Appreciating the Navy’s decision to relocate the training command headquarters to Rivers State, Governor Fubara encouraged the Navy to transfer more facilities to the state, highlighting the strategic advantage of its riverine terrain.

He urged the naval chief to step up efforts to curb waterway crimes, emphasizing the navy’s vital role during national crises.

Governor Fubara reaffirmed his dedication to protecting the interests and safety of the state’s residents and ensuring the provision of essential services, despite the ongoing political unrest. He stressed that genuine development is only possible in a peaceful environment.

Rear Admiral Emmanuel Ogalla disclosed that the headquarters of the training command would be situated at the Ambassador Nne Furo Kurubo Model Secondary School in Eleme, a facility donated by the state government. He said the relocation is set to take effect tomorrow, Friday.

He also announced that the Naval Training College in Onne, also in Eleme LGA of Rivers State, would be relocated to the new facility.

Seizing the opportunity, the Naval Chief updated Governor Fubara on the successful naval operations in the state. He mentioned that following the President’s directive in January, the Navy and other security agencies had intensified efforts against oil bunkering, resulting in the relaunch of Operation Delta Sanity.

Rear Admiral Ogalla reported that since January, the operation has led to the arrest of over 14 large crude-carrying vessels and many suspected crude oil thieves.

He further noted that multinational companies have recognized the Navy’s efforts, leading to improvement in crude transportation through underground pipelines.

Demolition of Buildings for Lagos-Calabar Coastal Road Begins Saturday

By
Rhoda Onuzulike
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0

The Federal Government of Nigeria has announced that the demolition of buildings situated within the right of way of the Lagos-Calabar Coastal Road will commence this coming Saturday.

The Federal Controller of Works in Lagos State, Korede Keisha, disclosed this during a press briefing held in Lagos on Thursday.

Keisha urged all residents whose houses have been earmarked for demolition to visit the ministry’s secretariat in Lagos to address any necessary procedures required by the ministry.

Lagos Begins Massive Demolition of Illegal Buildings

She stated that the demolition team would commence the removal of the marked properties on Saturday.

Keisha said, “So this press briefing is just to create awareness for all those that may be involved or have one or two things to do along that project corridor.

“We’ve sent out demolition notices to as many as are within the right of way and we are using this medium now to say that everyone that has any concern within that corridor and have been served, the secretariat is opened to them from today, 3pm.

“We are welcoming them from today till tomorrow. Whatever you have to do along that axis, and then we’ve come to you and marked you down for demolition, we are asking that you see us at the secretariat from today till tomorrow evening.

“Thereafter, demolition squad will move to action by Saturday morning for the first three kilometres.”

The minister added, “For the first three kilometres, anything within the right of way of the Lagos-Calabar Coastal Highway will be dropped down from Saturday morning.

“So, I want to use this medium to reach out to as many as we cannot put calls across to, that this will go a long way to let them know that their issues will be sorted out between today and tomorrow.

“Especially if you are within zero to three kilometres of the projects and you have been marked. You have been identified as standing in the right of way of the project corridors.”

Recently, Minister of Works, Dave Umahi disclosed that the construction of the Lagos-Calabar coastal road is expected to span eight years and cost N4 billion per kilometre

The 700 km Lagos-Calabar coastal road will be constructed for N15 trillion, and a kilometre of the road will cost N4 billion.

It is designed to connect Lagos to Cross River, passing through Ogun, Ondo, Delta, Bayelsa, Rivers, and Akwa Ibom states before culminating in Cross River.

Environmental Pollution: Reps Summons 35 Oil Firms

By
Rhoda Onuzulike
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0

The Joint Committee of the House of Representatives, on Wednesday, summoned 35 oil companies, as well as the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, for questioning over environmental degradation caused by the activities of oil companies across oil-producing communities in Nigeria.

The oil firms and the NNPCL boss are to appear before the committee on Wednesday, May 8, 2024.

The summons was handed down by the Chairman of the House Committee on Environment,  Pondi Gbabojor, at an investigative hearing in Abuja on the activities of oil companies.

The committee also summoned relevant government agencies and heads of oil companies.

The Committees on Environment, Petroleum Resources (Upstream), Petroleum Resources (Downstream) and Climate Change make up the joint committee.

The committee chairman threatened sanctions should invited persons fail to appear before the committee.

Adulterated Fuel: House of Reps Summons Oil Firms, PDP Flays N201BN Clean-up Vote

Gbabojor said, “We will write another letter to everybody. They should turn up to answer questions on issues pertaining to the degradation of the environment due to the activities of oil companies.

“They have to be here on May 8. If anybody fails to show up, then, we would decide as a committee on what to do. I want to believe that there was enough time – two letters were sent. There was ample time for them to see the letters and duly honour them. But to put on a human face, we would still give another time to do so.”

The invited oil companies include Chevron Nigeria Limited, Total Energies, Mobil Producing Nigeria Unlimited, Seplat Energy, Oando Oil Limited and Shell Petroleum Development Company of Nigeria Limited.

The Federal Government agencies invited for questioning are the Nigeria Midstream Petroleum Regulatory Commission, National Oil Spill Detection Response Agency and the National Environmental Standards Regulations and Enforcement Agency.

At the commencement of the investigation on Wednesday, only four out of the 35 oil companies and agencies invited for the probe attended.

The Committee members however noted that the four companies that turned up for the investigation were without the relevant documents required to carry out their assignment.

Earlier, the Speaker, Abbas Tajudeen, in his opening address, said it was important to protect the environment from harm.

Represented by the Deputy Minority Whip, George Ozodinobi, the Speaker said, “I fully recognise the immense responsibility which befalls us as public servants to protect and safeguard our environment and meet the challenges posed by the ravages of environmental damages, and the need to balance economic prosperity and social responsibility to ultimately achieve equitable development.

“As representatives of the people, we must ensure that the voices of those most affected by environmental damage are heard and respected. We have to listen to the fears that are faced by frontline communities, indigenous people, and marginalised groups who usually bear the brunt of environmental injustice.

“It is therefore, for this reason, that the House mandated the Committees on Environment, Petroleum Resources (Upstream), Petroleum Resources (Downstream), and Climate Change, to investigate the environmental damage in oil-producing communities caused by non-compliance to extant laws by oil producing companies.”

Court Adjourns Emefiele’s Fraud Case Till June

By
Rhoda Onuzulike
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0

A Federal Capital Territory high court on Thursday, adjourned until June 24, for the continuation of hearings in the trial of the former Central Bank of Nigeria governor, Godwin Emefiele.

The matter was adjourned on the prosecution’s request for an adjournment.

The prosecution and defendant were absent when the case was called for hearing.

Fresh N3trillion COVID Loans Mismanaged By Emefiele Discovered

Although counsel from Emefiele’s team was present to represent him, the trial judge, Justice Hamza Muazu, demanded to know why he was absent.

Emefiele’s counsel, I D Ahmed, apologised to the court for his client’s absence and proceeded to inform the court that they were served an adjournment letter by the prosecution.

The judge, however, said, “Because you have a letter of adjournment from the prosecution does not mean the defendant should not be in court.”

Justice Muazu then adjourned until June 24 and June 25 for continuation of the trial.

The Economic and Financial Crimes Commission charged Emefiele with 20 counts of criminal breach of trust, forgery, conspiracy to obtain by false pretence and obtaining money by false pretence when he served as the chief of the Central Bank.

The EFCC alleged that Emefiele forged a document titled: Re: Presidential Directive on Foreign Election Observer Missions dated January 26, 2023, with Ref No. SGF.43/L.01/201 and claimed the documents came from the office of the Secretary to the Government of the Federation.

The embattled ex-CBN governor was said to have falsely represented the Secretary to the Government of the Federation via a letter dated Jan. 26, 2023, with Ref No. SGF 43/L.01/201 where he requested the CBN to provide a contingent logistic advance for $6,230,000 “in line with the former President’s directive.

Also, the anti-graft agency alleged that findings revealed that Emefiele used his office as the apex bank governor to confer unfair, undue and corrupt advantage on his wife and colleague using the companies; April 1616 Nigeria Ltd and Architekon Nigeria Ltd.

Emefiele in the amended charge was alleged to have, on February 8, 2023, knowingly obtained by false pretence, 6.2million dollars.

The prosecution’s seventh witness (PW7) Agboro, an investigator with the Independent, Corrupt Practices and Other Related Offences Commission, at the previous hearing, tendered documents as proof of this claim.

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