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The Nigerian Association of Road Transport Owners (NARTO) has urged the federal government to remove the 7.5% Value Added Tax (VAT) on Automotive Gas Oil (AGO), commonly known as diesel. According to NARTO, the high cost of diesel due to the VAT imposition is impacting the distribution and supply of Premium Motor Spirit (PMS) petrol. Diesel is the primary fuel for about 90% of haulage trucks used to transport petrol from depots to retail outlets across the country. NARTO warns that unless the government takes swift action, the transporters may park their trucks, leading to a shortage of petrol supply.
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.
Borno State Governor, Babagana Umara Zulum, has introduced a new fleet of 70 buses in an effort to alleviate the burden of commuting for civil servants and the general public. This initiative comes as a response to the removal of fuel subsidy and aims to provide comfortable and affordable transportation options.
The recently launched Lagos Metro holds the promise of alleviating the legendary traffic congestion in Africa's largest city. After four decades in the making, this new transportation system will provide a much-needed respite for commuters. Find out more about how the Lagos Metro aims to revolutionize transportation in Nigeria.
Vice President Kashim Shettima flagged off the distribution of palliatives worth N5.1 billion in Sokoto, Nigeria, highlighting the government's commitment to prioritizing the welfare of Nigerians. Shettima commended the Sokoto State government for their initiative and encouraged other state governments and private organizations to emulate the effort. The event also saw the commissioning of the Rijiyar Doruwa flyover and the unveiling of a transportation scheme. The vice president emphasized the importance of peace and commended the support of security agencies in the state.
Students of the University of Jos in Plateau State, Nigeria, have taken to the streets to protest against the significant increase in school fees and other services rendered by the institution. The students blocked roads leading to the campus, carrying placards with powerful messages demanding a reversal of the fee hike. This protest is part of a larger trend where several Nigerian universities have raised their tuition fees, leading to widespread frustration among students and the public at large.
Bühler, a leading technology company, is set to present its optical sorting technology at a food security and nutrition conference in Ibadan, Nigeria. The technology, known as SORTEX A LumoVision, can directly detect aflatoxin contamination in maize, a major staple crop in Nigeria. This innovation has the potential to enhance food safety and increase the nutritional value of the food chain.
Edo State Government has implemented a free transportation scheme to alleviate the impact of the fuel subsidy removal imposed by the federal government. The scheme, spearheaded by Governor Godwin Obaseki, aims to provide Edo residents with affordable commuting options within the state. The Edo City Transport Service (ECTS) will offer free bus rides during the initial two-month period, covering both intra-city travel within Benin metropolis and connections to major cities across the three senatorial districts. This initiative showcases the government's commitment to the welfare of its citizens.
Nigeria's Bank of Industry (BOI) has recorded significant growth in its financial performance, with total assets reaching N3.3 trillion as of June 2023. The bank's profit before tax after impairments saw a substantial increase, and it maintained a low non-performing loan rate. Under the leadership of Olukayode Pitan, BOI has raised billions of dollars to support the growth of Nigerian industries and small businesses.
The Nigerian Electricity Regulatory Commission (NERC) has approved a 40% increase in the prices of electricity meters, following a previous review in November 2021 that raised costs by 30%. The price hike, based on changes in macroeconomic indicators, has drawn criticism for its potential impact on the struggling working class and poor citizens. This article argues for measures to address the metering gap without burdening consumers and calls on NERC to prioritize the needs of the population.
The world's largest meeting for natural gas, LNG, hydrogen, low-carbon solutions, and climate technologies, Gastech 2023, has commenced in Singapore. The event attracted a record-breaking number of attendees from around the globe. Industry stakeholders, policymakers, and business leaders gathered to discuss the challenges faced by the global energy sector and the role of natural gas, LNG, and hydrogen in achieving energy security and transitioning to a sustainable future.
Ankara, the capital city of Turkey, is making significant strides in promoting its healthcare tourism sector in Nigeria. Following participation in the "19th Akwaaba African Travel Markets and 2nd Medical Tourism Expo" held in Lagos, Ankara opened a booth named "Health Ankara" to showcase its healthcare services and explore collaborations with Nigerian medical professionals and institutions. The city aims to increase its share of the health tourism industry and boost its healthcare exports.
AFAN, the All Farmers Association of Nigeria, has established four committees to tackle the issue of high fertilizer prices in Nigeria. These committees will focus on areas such as seed quality, mechanization, science and technology, and fertilizer accessibility. The goal is to empower smallholder farmers and improve food security in the country.
Ace Real Estate, a leading real estate development company in Nigeria, recently celebrated its three years anniversary. The company expressed its commitment to delivering quality housing for Nigerians and announced a 10% discount on its Vision City project. Ace Real Estate has earned a strong reputation in the industry for its exceptional services and focus on customer satisfaction.
VON Automobile Nigeria, a subsidiary of Stallion Group, has expressed its support for President Tinubu's investment initiative in India. The company's managing director commended Tinubu's efforts and highlighted the prospective investment in Nigeria's automotive industry resulting from his visit to India. The initiative coincides with the 2023 G20 Summit. VON Automobile is dedicated to supporting the government's push for a clean and eco-friendly environment with mass transit buses running on clean and affordable energy sources.
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