NDDC: Buhari Writes Senate On Reconstitution Of NDDC Board

President MuhammaduBuhari has on Tuesday, 28th January 2020 written the Senate, informing it that recomposition of the board of the Niger Delta Development Commission, (NDDC), would be done immediately after the Interim Management Committee had completed its audit oversight of the interventionist agency. Ahmed Lawan, President of the Senate, read the letter on the resumption of plenary today.

7.5% VAT: DisCos To Begin Implementation On Feb 1st

Indications are rift that power distribution firms across the country have perfected plans to reflect the new Value Added Tax of 7.5 per cent on all their transactions effective February 1st, as announced by the Federal Government. The disclosure was made by the Ibadan Electricity Distribution Company on Monday, saying it would implement an upward review at the prices of meters sold to customers under the Meter Asset provider scheme introduced in 2019.

President Muhammadu Buhari on Monday while in London on a sideline held a bilateral meeting with his Ghanian counterpart, Nana Akufo-Addo, where he throws more light on why Nigeria had to partially close its border. The President special Adviser on Media and publicity, Femi Adesina revealed this in a statement in Abuja, saying the meeting was held in a side-line of the UK-Africa investment summit 2020.

The Lagos State Government on Monday banned the activities of commercial motorcycles, popularly called Okada, and tricycles, known as Keke Napep, in some Local Government Areas, bridges, and highways in the State. According to The Punch, the ban also includes Opay and Gokada operators. The government said the full enforcement of the ban would commence on February 1, 2020.

Emir of Kano, Muhammad Sanusi II, has warned that the predominant culture of marrying more than one wife by Nigerians in the northern part of the country is a major cause of poverty in the region. According to The Cable, the emir, who was represented by Usman Bugaji, said this while moderating a paper presentation session on ‘the role of universities in nation building’ at the maiden convocation of the Federal University, Gusau, in Zamfara state, on Friday.

Manufacturing Sector Creates 1.64 Million Jobs

The Manufacturers Association of Nigeria (MAN) has disclosed that it recorded an increase at the end of the first half of 2019. It gathered that an estimated 1,644,392 historical cumulative jobs had over time been created by the sector. 

The Nigerian Electricity Regulatory Commission (NERC) has advised customers to report any electricity distribution company (DisCo) that forces them to buy electricity equipment, especially transformer for installation. In a statement on Friday, Usman Abba-Arabi, NERC’S general manager for public affairs, accused some DisCos of forcing customers to pay for the equipment as a condition for getting electricity supply.

Lobby Hits Pension Funds, As Assets Hit N9.8tn

Intense lobbying by private investors has reportedly hit the National Pension Commission (NPC), as the commission's total assets under the Contributory Pension Scheme rose to N9.8tn as of the end of November 2019.

Dangote Foundation Empowers Thousands of Women in Katsina

No fewer than thirty-four thousand (34000) vulnerable women from thirty-four local governments' area of Katsina State have been empowered by the AlikoDangote Foundation. It was established that the foundation gave a whopping sum of N10 billion micro-grants to the women. 

Implementation of 7.5% VAT Commences - Idris

The Federal Government of Nigeria has begun the implementation of some aspects of the Finance Act with the imposition of 7.5 per cent Value Added Tax on government transactions.

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