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The Nigerian Association of Road Transport Owners (NARTO) is urging the Federal Government to stop the 7.5% Value Added Tax (VAT) on diesel, as it is causing a hike in fuel prices and disrupting the distribution of petrol. NARTO claims that diesel is essential for transporting petrol across the country, and the high cost of diesel is becoming unbearable for transporters. This article delves into the challenges and implications of the VAT on diesel and calls for an immediate solution to prevent further disruptions in the supply of petroleum products.
The Nigeria Basketball Federation (NBBF) has announced the rescheduling of the second phase of the Atlantic Conference group in the ongoing Zenith Bank Women's Basketball League. The change in date was necessary due to the rescheduling of the National Youth Games at the same venue, and the new dates are from October 2 to 8.
Nigeria is facing a severe inflation crisis, with prices of goods and services skyrocketing. This has led to a decline in economic growth and has significant implications for businesses across various sectors. Olaniyi Yusuf, Chairman of NESG, has outlined some solutions to tackle this crisis and help businesses remain resilient. From renegotiating supply contracts to implementing dynamic pricing and investing in digital transformation, businesses can adopt proactive measures to mitigate the impact of inflation and maintain profitability.
The Nigeria Premier Football League (NPFL) has announced the postponement of the 2023/24 season kickoff due to the Annual General Meeting (AGM) of the Nigeria Football Federation (NFF) taking place in Uyo, Akwa Ibom State. The decision was made after considering representations from stakeholders and the logistical challenges involved in having the Chairman and Clubs leadership travel from Ibadan to Uyo. A new kickoff date will be communicated in the coming days.
The Nigeria Labour Congress (NLC) has started a two-day warning strike to protest the Federal Government's failure to address the challenges caused by the removal of fuel subsidy. The NLC President, Joe Ajaero, announced the strike as a result of the conclusion of its National Executive Council meeting. The strike has already caused disruptions in activities at the court premises in Edo State, as election petitions tribunals were adjourned. The Federal Workers Forum (FWF) has also declared its support for the strike and vowed to shut down Federal Secretariats across the country.
The Abia State Government has commenced the distribution of Federal Government palliatives in the state. The distribution is targeted at the poorest of the poor and the vulnerable. Government appointees will not benefit from the palliatives. The sharing process has been described as transparent, and plans are in place to ensure that the most vulnerable persons receive the relief materials.
The Nigeria Medical Association (NMA) has strongly opposed the implementation of Rule 020909 of the new Public Service Rules (PSR), which stipulates retirement for public servants in top positions after eight years. The NMA Chairman, Dr. Benjamin Olowojebutu, expressed concerns that this policy would negatively impact the healthcare system in Nigeria, resulting in a shortage of doctors and affecting the population's access to quality healthcare. They called on the government to reconsider and adjust the policy to prevent further brain drain and protect the citizens' well-being.
The Nigeria Employers' Consultative Association (NECA) is calling on the government to take immediate actions to tackle the rising cost of living in the country. The association suggests implementing price stability mechanisms, providing updates on refinery progress, reversing VAT on diesel, and suspending the planned upward review of electricity tariff. NECA emphasizes that the current situation is negatively affecting businesses and pushing more Nigerians below the poverty line.
The Administrator of National Judicial Institute Abuja, Justice Salisu Garba (rtd), has emphasized the importance of high ethical standards for judiciary librarians and library officers. In a workshop organized by the NJI, he urged them to adhere to the Code of Conduct and strive for continuous learning to promote public confidence in the judiciary. The workshop aims to improve the delivery of library services, embracing technology and global best practices.
Nigeria's annual inflation rate increased slightly to 22.79% in June, putting pressure on the country's economy. President Bola Tinubu's reform agenda aims to boost economic growth but faces challenges such as removing the petrol subsidy and tightening restrictions on foreign exchange trading.
Eleven successor electricity companies in Nigeria have applied to review their electricity tariffs, citing shifts in macroeconomic parameters and the need to account for variables affecting their operations and sustainability. While previous attempts to increase tariffs faced opposition, the recent notice from the Nigeria Electricity Regulatory Commission (NERC) indicates that an increase may still occur, pending the outcome of a rate case hearing. The NERC invites public commentary on these applications by July 20, 2023.
Edo State Commissioner for Mining and Energy, Hon. Enaholo Ojiefoh, has called on downstream operators to take advantage of the ease of doing business policy in the state. He warned against under dispensing, selling adulterated products, and other sharp practices. The commissioner also unveiled plans to reposition the sector, including the construction of a tank farm and truck parks. In addition, investments in security and power have been made to attract more investors to the state. The meeting with stakeholders was organized to address challenges in the sector.
Members of the Nigerian House of Representatives have requested a salary and allowances increase after the removal of fuel subsidy by President Bola Ahmed Tinubu. The lawmakers addressed their concerns during a meeting held on July 11, citing the current economic situation as a reason for the demand. However, the Speaker of the House explained that the 2023 budget does not accommodate the request. Former President Olusegun Obasanjo also criticized the salaries paid to lawmakers, noting that they were not in line with recommendations from the Revenue Mobilisation and Fiscal Commission.
The Edo State Commissioner for Mining and Energy, Hon. Enaholo Ojeifoh, has urged downstream operators to take advantage of the state's Ease of Doing Business policy. At a Stakeholders Forum, he warned against under-dispensing, sales of adulterated products, and other sharp practices. Hon. Enaholo also unveiled plans to reposition the sector and attract more investors, including the launch of a database for licensed operators.
The Nigerian Political Science Association (NPSA) has urged the Nigerian government to join the BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, to secure the country's position in the emerging New World Order. In a communique, the NPSA also emphasized the need for urgent policies to rebuild Nigeria and reforms in the political and electoral processes.
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