President Muhammadu Buhari has replaced the Department of Petroleum Resources (DPR) with the Nigerian Upstream Regulatory Commission (NURC). This was disclosed on Wednesday by the Senate President, Ahmed Lawan during the confirmation of board members of NURC.

The Northern Governors Forum have today set for an emergency meeting in Kaduna state to discuss issues bordering on the value Added Tax (VAT) that have stirred a controversy in the Nigerian political space recently. The Coordinator of the Forum Secretariat who also doubled as the secretary to the plateau state government, Professor Danladi Atu, confirmed the meeting yesterday saying it will be hosted by Governor Nasiru El-Rufa’i of Kaduna state. This is coming as some senior lawyers have berated the Attorney General of the Federation, Abubakar Malami, who declared that no state has the power to collect the VAT.

Following the unabated oil theft in the Niger-Delta region, the Federal Government has said it will deploy Army, Navy and civil defence to fight against the economic saboteurs. Consequently, the FG has set up an Inter-Ministerial Committee on the recovery of all illegally refined products being produced in the creek of the Niger-Delta region. Accordingly, those who were drafted to constitute the committee include members from the Nigerian Army, Navy, Civil Defence Corps and the Federal Ministry of Defence. Representatives from the Federal Ministry of Justice were not left behind, Environment, Nigerian National petroleum Corporation (NNPC), the Department of petroleum Resources (DPR) and the National Oil Spill Detection and Response Agency were also co-opted into the team.

The Central Bank of Nigeria (CBN) has announced that it would support students in tertiary institutions with grants aimed at promoting entrepreneurship, therefore reducing unemployment. This was disclosed on Wednesday by the CBN in a report titled, ‘Guidelines for the implementation of Tertiary Institutions Entrepreneurship Scheme (TIES).’ CBN said, “The Scheme is designed to create a paradigm shift among undergraduates and graduates from the pursuit of white-collar jobs to a culture of entrepreneurship development for economic development and job creation.”

The Federal Government says it has officially scrapped the Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA), and the Petroleum Equalization Fund (PEF) as required under the new petroleum law. Following the passage and implementation of the Petroleum Industry Act (PIA), the Upstream Regulatory Commission (NURC) and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NPRA) are to perform the duties of the three defunct agencies. The FG also said while workers of the three agencies would be protected, their chief executives had been relieved of their various appointments. The Minister of State for Petroleum Resources, Chief Timipre Silva, made these known on Monday while speaking on the side-lines of the inauguration of the boards of the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Regulatory Commission in Abuja. Responding to a question on what would happen to DPR following the inauguration of the board of NURC, Sylva said, “It is now a matter of law. “The law states that all the assets and even the staff of the DPR are to be invested on the commission and also in the authority. So that means the DPR doesn’t exist anymore.

President Muhammadu Buhari approved the appointment of Dr. Ezra Yakusak as the new Executive Director/Chief Executive Officer of the Nigeria Export Promotion Council (NEPC). This was disclosed on Tuesday by the Senior Special Assistant on Media and Publicity to the President, Garba Shehu. According to the presidential aide, the appointment is for an initial term of four years and would take effect from November 27, 2021. 

Following the approval of the N178.09 million in the 2022 Appropriation bill, the national population and housing census will hold next year after a 15-year hiatus. The Minister of Finance, Budget, and National Planning, Zainab Shamsuna Ahmed said this on Friday during the public presentation and breakdown of the 2022 Budget in Abuja, saying President Muhammadu Buhari is expected to make a proclamation on the planned 2022 headcount exercise.

The Federal Government has said the Federal Inland Revenue Service (FIRS) will maintain the status quo and continue to collect Value Added Tax (VAT), the Attorney-General of the Federation, Abubakar Malami announced. Malami made the announcement while speaking to the press in New York, United States on the lingering disagreement over the collection of VAT between Rivers State Government and the FIRS.

The Acting Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko stated that several ports including Tin Can Island, Onne, Calabar, and Delta ports require funds to prevent their total collapse. This was disclosed in a statement on Sunday by NPA’s General Manager, Corporate and Strategic Communications, Olaseni Alakija. The statement reads, “We are facing decaying port infrastructure, for example, sections of the quay aprons or walls at Tin Can Island Port, Onne, Delta and Calabar ports are collapsing and require huge funds to repair them.