Top News Update 17/07/2017
1. FG to allow huge tax debtors pay in instalments
2. Ogbeh: Nigeria will Soon Stop Rice Importation, Reduce Cost
3. Power firms fail to remit N4.6bn revenue
4. Nigeria prepares for possible crude oil production cut
5. Oando Under Probe By Nigeria’s Securities and Exchange Commission
6. DAAR Communications Records N2.14bn Operating Loss
7. 7.3 million trees planted in 10 years —Ambode
8. Anambra to commence rice export in 2018
9. China commits $5bn to development of Oyo Free Trade Zone
10. Unilever partners Kaduna to empower women
FG To Allow Huge Tax Debtors Pay In Instalments
The Federal Government is to offer tax defaulters with huge (tax) liabilities a period of three years to spread their tax payment under the Voluntary Assets and Income Declaration Scheme. This is one of the strategies of the government to ease the burden of such debtors by taking advantage of the new tax scheme to offset their debts.
Ogbeh: Nigeria Will Soon Stop Rice Importation, Reduce Cost
The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has disclosed that the present administration under President Muhammadu Buhari will stop importation of rice in 2017. Explaining the reason behind the policy, Ogbeh hinted that the country has enough internal production that can sustain home consumption and meet foreign exchange earnings that can guarantee diversification of the economy.
Power Firms Fail To Remit N4.6bn Revenue
Power distribution companies did not remit N4.62bn revenue due to the sector in May, the latest report on the monthly performances of the Discos obtained from the electricity Market Operator has shown. An analysis of the report showed that the N4.62bn sectoral shortfall pushed up the total indebtedness of the Discos since the commencement of the Transitional Electricity Market to N115.98bn, as against the N111.36bn recorded in April this year.
Nigeria Prepares For Possible Crude Oil Production Cut
Stakeholders have called on the Federal Government to make adequate preparation for a likely cut in Nigeria’s crude oil production, Okechukwu Nnodim reports A capping or reduction in Nigeria’s crude oil output is likely going to happen soon and this will impact the economy adversely considering the economic significance of the commodity, stakeholders have said. Earlier this week, it was reported that the Organisation of Petroleum Exporting Countries may ask Nigeria and Libya to cap their crude oil output soon in an effort to help re-balance the global crude oil market.
Oando Under Probe By Nigeria’s Securities And Exchange Commission
Nigeria’s Securities and Exchange Commission (SEC) is probing Oando, an oil company owned and run by Wale Tinubu, a cousin of former Governor Bola Tinubu of Lagos State. Mr. Bola Tinubu, the national of the All Progressives Party (APC), is also in business partnership with Mr. Wale Tinubu. A petition by two of Oando’s shareholders triggered SEC’s investigation of the oil firm, SaharaReporters learned. The two petitioners are Dahiru Mangal and Italian businessman, Gabriel Volpi.
DAAR Communications Records N2.14bn Operating Loss
Pioneer publicly-quoted broadcast group, DAAR Communications Plc, has declared an operating loss of N2.139 billion in 2016, up from N1.515 billion in 2015. The Chairman of DAAR Group, Chief Raymond Dokpesi (Jr.) told shareholders at the weekend in Abuja at a combined 2015/2016 annual general meeting that the economic recession in the country pushed the company’s operating loss from N1.515 billion in 2015 to a new height of N 2.139 billion.
7.3 Million Trees Planted In 10 Years —Ambode
The Lagos State Government says over 500,000 additional trees were planted in the state on Friday to the existing 6.8 million trees, adding that such will protect the environment and promote healthy living. Governor Akinwunmi Ambode spoke at the 10th anniversary of the state tree planting campaign, organised by the Lagos State Parks and Gardens Agency in the Shasha area of Lagos.
Anambra To Commence Rice Export In 2018
The Acting Programme Manager of Agricultural Development Programme, Anambra, Mr Jude Nwankwo says plans are underway to commence export of rice from the state in 2018. Nwankwo disclosed this in an interview with the News Agency of Nigeria on Sunday in Awka. “By the grace of God, Anambra will commence rice export after our harvest this year’’, he said.
China Commits $5bn To Development Of Oyo Free Trade Zone
Governor Abiola Ajimobi of Oyo State has stated that his administration has secured the commitment of $5bn from China in the development of the newly established Free Trade Zone in the state. The governor made the disclosure while receiving an Industrial Policy and Strategic Document from a delegation of United Nations Industrial Development Organisation in Ibadan.
Unilever Partners Kaduna To Empower Women
Unilever Nigeria Plc has entered into a strategic partnership with the Kaduna State Government to launch a campaign with the ultimate goal of enhancing livelihoods and helping people take action to improve their health and well-being. A statement obtained from the firm said this was part of the firm’s efforts aimed at empowering women, and promoting healthy eating habits among women and teenage girls of reproductive age.
