Chairman of the China Railway Construction Corporation (CRCC), Mr. Dai Hegen, says the company has paid a whopping sum of $125 million in taxes to the Nigerian government. Hegen, who disclosed this during a visit to President Bola Tinubu at the State House, Abuja, on Friday, said the corporation has signed investment cooperation agreements with … Read more
The Presidential Fiscal Policy and Tax Reforms Committee (PFPTRC) intended to exempt 95% of operators in the informal sector from any form of taxation. The Taiwo Oyedele-led panel’s plan aims to reduce the burden of several taxes on small enterprises and low-income persons. Oyedele plummeted at the end of the PFPTRC’s close-out retreat in Abuja … Read more
Data released by the National Bureau of Statistics (NBS) revealed that 18 out of the 36 states in the country failed to attract foreign investment in the last three years (2021 – 2023). NBS listed the states as follows : 1. Bauchi 2. Bayelsa 3. Benue 4. Borno 5. Cross River 6. Ebonyi 7. Edo … Read more
The Federal Government, FG, says it will stop awarding licences to gas businesses with no ability to develop pipes for gas distribution. The government stated that this was necessary to discourage the transportation of compressed natural gas on roads. The Minister of State for Petroleum (Gas), Ekperikpe Ekpo, made this disclosure when he was in … Read more
Residents of Sokoto have continued to lament the untold hardship they are subjected to following the fuel scarcity being experienced in all parts of the state that has made businesses and other activities very difficult. Commuters in the state said most filling stations are locked under the guise that they lack product to dispense, while … Read more
The Nigerian National Petroleum Company Limited (NNPCL) says the issue that led to the tightness in the supply of fuel currently being experienced in some parts of the country have been resolved. The NNPC Ltd said that the issue was as a result of logistics problems. The Chief Corporate Communications Officer, NNPC Ltd. Olufemi Soneye, … Read more
Fuel scarcity is biting hard on Kaduna residents as motorists are forced to buy the product for as high as N1,100 per liter from black marketers. It was observed that many passengers going to work and their business premises were stranded following the scarcity of fuel across the state and very few commercial operators were … Read more
Oil marketers are gearing up to load refined petroleum products from the Port Harcourt Refining Company, as workers at the facility race to get it set for production on the directives of the Nigerian National Petroleum Company Limited. Dealers confirmed on Friday that the PHRC was almost set to start releasing products, projecting a N500/litre … Read more
The Nigerian Electricity Regulatory Commission, NERC, has approved 481 Band A areas for the purpose of implementing the new tariff. Documents obtained from the regulator indicated that the Abuja Electricity Distribution Company, AEDC, emerged the highest with 107. Yola Electricity Distribution Company, YEDC, has 15, apparently the least. A breakdown indicated that the Ikeja Electricity … Read more
Liquefied Petroleum Gas (LPG), also known as cooking gas, has increased by 38% month on month (MoM), to N16,250 for a 12.5kg cylinder, up from N11,735.72 in January 2024. Furthermore, the price of one kilogram of gas increased by 37% to N1,300 from N950 during the same period. The latest data from the Nigeria Bureau … Read more