Four months after the Federal Government and the Nigerian Electricity Regulatory Commission (NERC) quietly ordered the removal of subsidy on electricity and increased end-user tariffs, orders released, yesterday, by the regulator have created fresh concerns as poor Nigerians are now heavily burdened by tariff increases. Yesterday, six power distribution companies (DisCos) got NERC approval to…
Steelmakers are sceptical about the planned concession of Ajaokuta Steel Company Limited after Nigeria imported iron, steel, and metals valued at N837.761bn in the third and the fourth quarters of 2021. According to the National Bureau of Statistics, Africa’s most populous nation brought in basic metals, iron, and steel products with 6000mm in width, rolled,…
To boost electricity supply, the Federal Executive Council (FEC), presided over by President Muhammadu Buhari, again approved multi-billion naira contracts for the power sector yesterday. Minister of Power, Abubakar Aliyu, while briefing State House correspondents, said all three memos presented by his ministry scaled through, adding that the approvals were for the purchase of major…
The number of micro, small and medium enterprises across the country dropped by about two million between 2017 and 2021, the Small and Medium Enterprises Development Agency of Nigeria stated on Monday. It said the country’s MSMEs reduced from about 41 million in 2017 to 39 million in 2021, as this was due to the…
Recognises Nigeria’s top paying and most compliant taxpayers. The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami while calling for all hands to be on deck to support the tax system and make it function efficiently has urged politicians to treat tax revenue generation as an apolitical issue. Mr. Muhammad Nami said…
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Muhammad Nami while calling for all hands to be on deck to support the tax system and make it function efficiently has urged politicians to treat tax revenue generation as an apolitical issue. Mr. Muhammad Nami said this while delivering his opening remarks at the 2nd Annual National Tax Dialogue with the…
President Muhammadu Buhari has approved a steering committee to oversee the process of the newly signed Petroleum Industry Act (PIA). The development was disclosed in a statement issued on Wednesday by the Special Adviser to the President on Media and Publicity, Femi Adesina. According to the statement, the steering committee is headed by Timipre Sylva,…
Human Rights Writers Association of Nigeria, HURIWA, has warned the Federal Government against the withdrawal of fuel subsidy. The group urged the Buhari government to take another look at what it described as sinister plots to withdraw subsidy from petroleum products in the country, following the signing into law the controversially legislated petroleum industrial Bill…
