Business Legislature Taxes & Duties

FIRS amendment bill passes 2nd reading in Senate

Reading Time: 2 minutes The Senate passed the second reading of the Federal Inland Revenue Service (FIRS) (Establishment) Bill, 2022, on Tuesday. Sen. Yahaya Abdullahi (PDP-Kebbi North), the bill’s sponsor, gave the lead debate on the bill’s fundamental ideas at plenary. Abdullahi, who presented the debate, stated that the bill aimed to alter the FIRS (establishment) Act, No. 13, Read More…

Business Environment Legal Oil & Gas Top Story

Supreme Court allows Shell to appeal decision delaying sale of assets

Reading Time: < 1 minutes In a case that has delayed the corporation’s sale of its onshore assets, Nigeria’s Supreme Court on Friday permitted Shell Plc’s local business to appeal a decision ordering the company to pay $1.8 billion in damages for an alleged leak. Until the court issued a decision regarding an appeal filed by its subsidiary Shell Petroleum Read More…

Business Economy Top Story

9 oil-producing states, others receive N625.43bn derivation fund, N1.1trn still outstanding – Presidency

Reading Time: 3 minutes According to the presidency, between 1999 and 2021, nine oil-producing states will have earned a total of N625.43 billion in 13 percent oil derivation, subsidies, and SURE-P refunds from the Federation Account. The impacted states that received the reimbursements spanning from 1999 to 2021 were Abia, Akwa-Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Read More…

Budget Business Ikorodu Politics

Ikorodu LG consults on 2023 budget, pledges to do more

Reading Time: 2 minutes Mr. Wasiu Adesina, the chairman of the Ikorodu Local Government, has reassured the locals of his administration’s commitment to bringing them more development projects and democratic dividends. At the stakeholders meeting for the local government’s 2023 budget held on Friday in Lagos at the council secretariat in Ikorodu, Lagos State, Adesina made the guarantee. In Read More…

Business Taxes & Duties

FCT-IRS trains tax officers on enforcement

Reading Time: 2 minutes To prepare tax authorities for the enforcement drive before 2023, the Federal Capital Territory’s Internal Revenue Service (FCT-IRS) has started tax enforcement capacity and simulation training. This was said in a statement made in Abuja by Mr. Mustapha Sumaila, Head of Corporate Communications for the FCT-IRS. According to Sumaila, the training is centred on an Read More…

Aviation Business Top Story

Aero Contractors back in the skies with 10 routes

Reading Time: < 1 minutes Aero Contractors, one of Nigeria’s oldest private aviation businesses, has announced the resumption of regular flights on ten routes around the country. Capt. Ado Sanusi, the newly appointed Managing Director, said this during the re-launch of the airline’s services in Lagos on Thursday. On July 20, 2022, Aero Contractors halted scheduled services in order to Read More…

Business Oil & Gas

Centre for Justice Development advocates gradual removal of petroleum subsidy

Reading Time: 2 minutes The lead director of the Centre for Social Justice (CSJ), Mr. Eze Onyekpere, has demanded that Nigerian subsidies be gradually eliminated. At the Public Policy Dialogue and Unveiling of Partnership for Amplified Voices (PAV) in Abuja, Onyekpere made the announcement. The director stated it was time for drastic action to be taken on subsidy. The Read More…

Business Oil & Gas Top Story

Nigeria seeks to end importation of petrol in 2023

Reading Time: < 1 minutes Nigeria aims to stop importing petroleum products before or around the third quarter of 2023, according to oil minister Timipre Sylva. Sylva stated that a rebuilt refinery in the oil-producing Niger Delta city of Port Harcourt will start providing 60,000 barrels per day of processed crude by the end of December. The minister also stated Read More…

Business CSR Oil & Gas

TotalEnergies, NNPCL, others splash CSR projects across 7 states

Reading Time: 3 minutes In furtherance of its Corporate Social Responsibility, the Nigerian National Petroleum Company Ltd. (NNPC) and TotalEnergies Upstream Nigeria Ltd., operator of OML 130, and partners, inaugurated projects in seven states (CSR). The projects were launched in the states of Osun, Kwara, Imo, Enugu, Anambra, Benue, and Rivers, according to a statement made on Tuesday in Read More…

Business Manufacturing

SON vows to rid Nigeria of substandard products

Reading Time: 2 minutes On Wednesday in Abuja, the Standard Organisation of Nigeria (SON) vowed to leave behind a nation devoid of the spread of subpar goods. Malam Farouk Salim, the director general of SON, made this statement at a press conference to announce the official start of the celebrations planned for the organisation’s 50th anniversary. The grand opening Read More…