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BREAKING: President Tinubu To Overhaul Multiple Taxes, Other anti- Investments Policies

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‘I have a message for our investors, local and foreign: our government shall review all their complaints about multiple taxation and various anti-investment inhibitions.”

That’s President Bola Ahmed Tinubu, in his inaugural speech today, in Abuja.

Tinubu was sworn in as Nigeria’s 16th President, by the Chief Justice of Nigeria, Kayode Ariwoola, at the Eagle’s Square, Abuja.

Stressing on his administration’s economic thrusts, he said : ” We shall ensure that investors and foreign businesses repatriate their hard earned dividends and profits home.
He also said , ” on the economy, we target a higher GDP growth and to significantly reduce unemployment.

” We intend to accomplish this by taking the following steps:

First, budgetary reform stimulating the economy without engendering inflation will be instituted.

Second, industrial policy will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.

Third, electricity will become more accessible and affordable to businesses and homes alike. Power generation should nearly double and transmission and distribution networks improved. We will encourage states to develop local sources as well.

JOBS

My administration must create meaningful opportunities for our youth. We shall honour our campaign commitment of one million new jobs in the digital economy.
Our government also shall work with the National Assembly to fashion an omnibus Jobs and Prosperity bill.
” This bill will give our administration the policy space to embark on labour-intensive infrastructural improvements, encourage light industry and provide improved social services for the poor, elderly and vulnerable,” he said.

Tinubu’s Profile
Tinubu started out as a technocrat; a seasoned accountant.

During his sojourn abroad, he worked for American companies Arthur Andersen, Deloitte, Haskins & Sells and GTE Services Corporation.

And upon his return to Nigeria in 1983, he joined Mobil Oil as an auditor.
He rose through the ranks to become an executive of the company.
He began to make inroads into the political Hall of Fame in 1992 when he was elected senator representing Lagos West Senatorial District in the short-lived third National Assembly.

He then joined forces with the National Democratic Coalition (NADECO), a coalition of democrats demanding the military government led by General Sani Abacha to step down for the acclaimed winner of the 12 June 1993 election, the deceased Chief MKO Abiola.

After four years in exile, Tinubu returned to the country in 1998 to contest the governorship election in Lagos – his home state – as Nigeria prepared for a transition to democratic rule.

A two-term governor, Tinubu prides himself as the brain behind the transformation of Lagos from the doldrums to one of the largest economies in Africa.

And so do many of his allies who vigorously campaigned for his presidency based on this accomplishment.
He was behind the creation of the Lagos Free Zone, Ibeju Lekki.

Business

BREAKING: NNPC Spokesman, Soneye resigns

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The Nigerian National Petroleum Company Limited (NNPCL) is expected to name a new spokesperson soon, following the resignation of the company’s Chief Corporate Communications Officer (CCCO), Olufemi Soneye.

In a statement made available to the press in Abuja on Saturday, Soneye thanked his former employer and colleagues for their support during his tenure as CCCO.

He stated that his decision to step down was to enable him to devote more time to his family and attend to personal responsibilities that require his closer presence.

The statement read: “Dear Esteemed Colleagues, I extend my heartfelt gratitude to you all for the unwavering support, professionalism, and genuine commitment you’ve shown in helping to shape and amplify the NNPC Ltd story over the past 20 months.

“Your role in building a vibrant and effective communications presence for our national energy company has been nothing short of invaluable.

“I wish to inform you that I have stepped aside from my role as Chief Corporate Communications Officer of NNPC Ltd. This decision will allow me to devote more time to my family and attend to personal responsibilities that now require my closer presence.

“It has been a profound honour to serve both the Company and our country and to contribute in my own way to the ongoing transformation of NNPC Ltd.

I am deeply grateful for the trust reposed in me, the opportunities granted, and the incredible professionals—both within and outside the organization—with whom I have worked.

“I remain a steadfast supporter and ambassador of NNPC Ltd wherever I go. I enjoin you, dear colleagues, to continue your robust, balanced, and constructive reportage in support of the Company’s noble mission and strategic role in Nigeria’s energy future.”

Soneye was appointed as NNPCL’s spokesman in October 2023, following a company-wide reorganisation that saw him replace Garba Muhammad.When contacted by Tribune Online, Soneye confirmed the news, saying, “Yes, my bro! E ku weekend.”

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DR Congo: Heineken Forced to Withdraw Staff as Rebels Seize Facilities

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Heineken has lost operational control and withdrawn its staff from facilities in eastern Democratic Republic of Congo (DRC), CNN on Saturday quoted that the Dutch brewer announced on Friday.

In March, the company had suspended operations in three eastern cities, citing safety concerns after breweries were damaged and depots raided during clashes between government forces and rebels.

On Friday, Heineken said the situation had worsened. Armed groups have taken control of its sites in Bukavu and Goma—eastern Congo’s largest cities—as well as surrounding areas.

“The conditions required to operate responsibly and safely are no longer present and as of 12th June 2025, we have lost operational control,” it said in a statement.

Heineken’s local unit, Bralima, continues to operate in parts of the country not affected by the fighting. The company said it is monitoring developments closely.

Heineken owns four breweries in the DRC, producing its namesake beer along with local brands such as Primus. It previously said its Bukavu facilities employed about 1,000 people directly and indirectly.

“Our top priority is the safety and wellbeing of our employees,” Friday’s statement read.

Reuters also reported, “We have withdrawn all remaining staff from these sites and we have continued to support them financially.”

Nearly 14 per cent of Heineken’s total revenue comes from its Middle East and Africa operations, with Congo—home to over 100 million people—a significant market.

Before the suspension, operations in Goma, Bukavu, and Uvira represented roughly one-third of Heineken’s business in the country.

Conflict in eastern Congo has intensified in 2025, with the M23 rebel group making major territorial gains, sparking fears of broader regional instability.

Congo accuses Rwanda of backing M23 with troops and weapons—allegations Rwanda has consistently denied.

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MTN , Airtel , Glo Begin USSD Direct Charges from Today

The new billing model would allow mobile network operators to charge customers directly for USSD sessions, with charges deducted from airtime balance at N6.98 per 120 seconds.

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Telecom subscribers in Nigeria will now be charged directly by their mobile network operators for Unstructured Supplementary Service Data (USSD) services, starting Wednesday, June 18, 2025.

This was disclosed by Mr Gbenga Adebayo, the Chairman, Association of Licensed Telecommunications Operators of Nigeria (ALTON), and the Publicity Secretary, Mr Damian Udeh.

Adebayo said that the change is in line with the Nigerian Communications Commission’s (NCC) determination of USSD pricing and services, developed in collaboration with the Central Bank of Nigeria (CBN) and other stakeholders.

” The new billing model would allow mobile network operators to charge customers directly for USSD sessions, with charges deducted from airtime balance at N6.98 per 120 seconds,” he said.

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