Business
TCN suspends planned power outage in Ondo, Ekiti – BEDC
The Transmission Company of Nigeria (TCN) has decided to suspend the planned power outage on the Osogbo/Akure and Ado-Ekiti 132KV transmission lines. This decision comes after an earlier announcement by the BEDC Electricity Plc (BEDC) that the outage was scheduled to last for two months.
Evelyn Gbiwen, the Head of Branding and Corporate Communications at BEDC, released a statement confirming the suspension of the planned outage. According to her, TCN has informed BEDC that the outage, originally set to take place from July 1 to August 31, has been suspended indefinitely. This means that BEDC’s services will continue without interruption until further notice from TCN.
The planned outage was initially intended to facilitate maintenance work on the 132KV Osogbo-Akure transmission line, including the installation of optical ground wire and other necessary activities that require outage for safety reasons.
BEDC has reassured its customers in Ondo and Ekiti states that despite the suspension of the planned outage, the company remains committed to providing uninterrupted electricity services and serving its customers better.
In summary, the power outage that was scheduled for Osogbo/Akure and Ado-Ekiti has been put on hold until further notice from TCN, allowing BEDC to continue its operations without disruption.
Business
KPMG, NRS settle rifts over new tax laws
In its newsletter on January 9, KPMG said there are “errors, inconsistencies, gaps, omissions, and lacunae” in the new tax laws that require urgent reconsideration to ensure the achievement of their stated objectives.
KPMG executives and Zaach Adedeji, chairman of the Nigeria Revenue Service (NRS), held a meeting on Monday following the disagreement over the new tax laws.
In its newsletter on January 9, KPMG said there are “errors, inconsistencies, gaps, omissions, and lacunae” in the new tax laws that require urgent reconsideration to ensure the achievement of their stated objectives
However, on January 10, the presidential fiscal policy and tax reforms committee pushed back against KPMG’s critique, noting that KPMG does not understand the laws.
The committee said a significant proportion of the issues described as “errors,” “gaps,” or “omissions” by KPMG are either the firm’s own errors and invalid conclusions, or matters not properly understood by the firm.
In a statement on Monday, the NRS said that Adedeji hosted a courtesy visit from the delegation of the tax advisory firm.
” During the visit, the KPMG team clarified that their earlier opinion on the new tax laws “had been misconstrued and expressed regret over the misunderstanding.
“They sought further clarity on the provisions of the laws and highlighted areas where recommendations could be made.”
The source said that the meeting ended with the delegation commended the NRS chairman for efficiently and promptly implementing the reforms.
Business
IMF to release January 2026 World Economic Outlook update on Monday
The January WEO Update is expected to provide revised global growth forecasts and insights into inflation trends, monetary policy direction, and key risks facing the global economy in 2026.
The International Monetary Fund (IMF) will release its January 2026 World Economic Outlook (WEO) Update on Monday, January 19, 2026.
The report will be presented during a press conference hosted at the National Bank of Belgium in Brussels.
The press conference is scheduled for 10:30 a.m. The Brussels time and will be streamed live via the IMF website and Press Centre, allowing journalists to participate both in person and virtually.
The IMF’s economic assessment will be presented by Pierre-Olivier Gourinchas, Economic Counselor and director of the Research Department; Petya Koeva Brooks, deputy director of the Research Department; and Deniz Igan, Division Chief, Research Department.
The January WEO Update is expected to provide revised global growth forecasts and insights into inflation trends, monetary policy direction, and key risks facing the global economy in 2026.
Business
Heineken boss resigns after ‘turbulent’ six-year stint
“I believe this is the right moment,” said Van den Brink, 52, after almost six years at the helm “during which he has guided the company through turbulent economic and political times”.
• Dolf Van den Brink
Dolf van den Brink said on Monday he would step down on May 31 as the chief executive of Dutch brewer Heineken.
Van den Brink unexpectedly announced his resignation, as the company grapples with lower beer sales and job cuts in a difficult economic environment.
“I believe this is the right moment,” said Van den Brink, 52, after almost six years at the helm “during which he has guided the company through turbulent economic and political times”.
The change of leader comes at a tricky moment for Heineken, the world’s second-largest brewer after AB InBev.
Its most recent quarterly results, published in October, showed a steep decline in the amount of beer sold, with Europe and the United States driving the drop.
Van den Brink acknowledged at the time that the firm was dealing with a “challenging environment, resulting in a mixed performance”.
Heineken posted total net sales of 7.3 billion euros ($8.5 billion) for the third quarter, down from 7.6 billion in the second quarter.
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