The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) on Tuesday expressed concern over the new 0.5 per cent tax on gross turnover of the petroleum marketing firms proposed by the federal government. Mr Olufemi Adewole, the Executive Secretary, DAPPMAN, said at the maiden edition of the Platforms Africa Continental Forum in Lagos, that the tax would put many firms out of business. Adewole said there were indications that fuel distribution crisis may soon hit the country, if the government implemented the new tax regime. He was emphatic that more than half of the fuel marketing firms in Nigeria…
Author: Newsdesk
The Nigeria Security and Civil Defence Corps (NSCDC), Akwa Ibom Command, has impounded nine trucks loaded with 400,000 litres of suspected adulterated petroleum products and nabbed two suspects. The State Commandant, Mr Suleiman Mafara disclosed this in a statement issued in Uyo and made available to newsmen. Mafara said the seizure was made possible by a combined team of the NSCDC operatives, Nigerian Army and the Independent Petroleum Marketers Association of Nigeria (IPMAN). He explained that the operations lasted between November 12 and 20 at Eket, Ikot Abasi and Etinan local government areas where the trucks were impounded with the products. He said that…
Security measures have been beefed up at the Kolmani River II Oil Field located at a border community between Bauchi and Gombe states for Presidential flag-off of the Kolmani Integrated Development Project. President Muhammadu Buhari will on Tuesday perform the official ground-breaking ceremony of the Oil Prospecting Lease (OPLs) 809 and 810 at the Kolmani River II Well. The Nigerian National Petroleum Company (NNPC) Limited, in October 2019, announced the discovery of crude oil, gas and condensate in the Kolmani River. The commercial quantity discovery was the first in the region after several crude oil explorations on the Upper Benue Trough.…
“This emergency financing under the new Food Shock Window will help South Sudan address food insecurity, support social spending, and boost international reserves” The International Monetary Fund (IMF) and South Sudan have reached a staff-level agreement for the release of about $112.7 million in emergency financing. IMF in a statement on Tuesday said “this emergency financing under the new Food Shock Window will help South Sudan address food insecurity, support social spending, and boost international reserves.” The IMF’s executive board will approve the financing in the coming weeks, the fund said. In early November, United Nations agencies said up to…
The member representing Bodinga/Dange-Shuni/Tureta federal constituency of Sokoto state, Balarabe Shehu Kakale has called on security agencies in the state to call the candidate of the All Progressives Congress (APC) for the constituency, Nasiru Shehu (alias Bobo) to order against repeated political violence allegedly linked to him. This is contained in a statement titled: “CONDEMNATION OF REPEATED VIOLENCE AND DEATH ASSOCIATED WITH POLITICAL ACTIVITIES OF NASIRU SHEHU BOBO (APC FLAG BEARER OF BODINGA/DANGE-SHUNI/TURETA FEDERAL CONSTITUENCY)”, which he personally signed and made available to newsmen on Monday. “I write to condemn in the strongest terms, the repeated reckless and barbaric political…
Gombe state governor, Inuwa Yahaya on Monday, approved the appointment of Yakubu Muhammad-Kwairanga as emir of Funakaye. Mr Ismaila Uba-Misilli, Director-General, Press Affairs, Gombe Government House, said in a statement in Gombe that the appointment followed the death of Emir Muazu Muhammad-Kwairanga III on August 27. Misilli said the appointment was conveyed in a letter signed by the Commissioner, Ministry for Local Governments and Chieftaincy Affairs, Dasuki Jalo. “According to the Commissioner, the appointment is in the exercise of the powers vested in the Governor under the Gombe State Chieftaincy Law 2022; and based on recommendations of the kingmakers of…
“You must give the PDP the credence that it was able to stabilise democracy in Nigeria and these two gentlemen (Atiku and Obasanjo) were the pioneer persons that did this job…it is time we stabilized this country and give PDP another chance to make good its promises” A chieftain of the Peoples Democratic Party (PDP), Adedeji Doherty says though the party made some mistakes while in power between 1999 and 2015, such mistakes can be corrected if Nigerians give the party’s presidential candidate, Atiku Abubakar a chance to become president in 2023. Doherty, who is the Chairman of the Atiku-Okowa…
South Africa’s Supreme Court of Appeal ruled on Monday that former President Jacob Zuma should return to prison to finish his sentence for contempt of court. The court said the decision to release Zuma on early medical parole was unlawful. Zuma was sentenced in 2021 to 15 months’ imprisonment after ignoring a court order to testify at a government inquiry into widespread corruption during his time as president. Zuma was released on medical parole in September 2021 after only serving a fraction of the sentence however, in December the high court set aside the parole decision and ordered him to…
The Secretary-General of the International Maritime Organisation (IMO), Mr Kitack Lim has described Nigeria as a very important country not only to Africa, but to the global economy. This is contained in a statement signed by Mr Osagie Edward, Assistant Director, Public Relations, Nigerian Maritime Administration and Safety Agency (NIMASA) in Lagos. Kitack made this known on arrival in the country at a ‘meet and greet’ reception hosted in his honour by stakeholders in the Nigerian maritime industry. “This is my first time in Nigeria. I thank the Honourable Minister of Transportation, Jaji Sambo and his team from the invitation. ”As…
The Debt Management Office (DMO) offered N100 billion “Ijarah Sukuk’’ bonds for subscription at N1,000 per unit on Monday on behalf of the Federal Government. It stated in Abuja that the offer is of 10-year tenor due for maturity in December 2032. The bonds are issued by FGN Roads Sukuk Company1 PLC., through Greenwich Merchant Bank Ltd., Stanbic IBTC Capital Ltd and Vetiva Capital Management Ltd. The DMO added that proceeds would be invested solely in the construction and rehabilitation of certain strategic roads across the country. “Date of offer is November 21; closing date is November 29 while settlement…