Business
IMO to Host Extreme Weather Symposium in September

The International Maritime Organisation (IMO) has decided to host its 2nd WMO-IMO Symposium on Extreme Maritime Weather.
Ohibaba.com reports that the symposium with the theme , `Bridging the Knowledge Gap Towards Safer Shipping,’ will hold in London 23-26 September 2024.
IMO, in a statement on Friday, noted that despite decades of investments in weather forecasting that have substantially improved the predictability of such events, ships still transit into hazardous conditions, resulting in damage and, often, loss of cargo, personnel injuries or deaths, and environmental damage.
“Incidents of ships encountering extreme weather in recent years underscore the urgent need for action by the shipping and metocean.”
The event is aimed at finding possible solutions to minimize the risks created by extreme maritime weather events – those which are dangerous to any ship at sea and are a threat to life, property, and the marine environment, besides the economic impacts to the global blue economy.
The Symposium will also provide an update on developments, building upon the first Joint Symposium in 2019.
The Symposium links to the World Maritime Theme 2024 ʺNavigating the future: safety first!.ʺ
It will contribute to the UN Decade on Ocean Science for Sustainable Development and the UN Early Warnings for All initiatives.
Business
Senate Constitutes Abdullahi Yahaya Tax Harmonisation Committee
Altogether, the four Tax Reform bills were Executive Bills transmitted by President Bola Ahmed Tinubu to the two chambers of the National Assembly in November last year.

The Senate on Thursday constituted a committee saddled with the responsibility of harmonizing its amendments to the tax reform bills with the House of Representatives version for final transmission to President Bola Ahmed Tinubu.
Senate President, Godswill Akpabio, announced this during plenary after the passage of the bills.
Akpabio named senator Abdullahi Yahaya (Kebbi North) as chairman of the committee.
The members of the committee as announced by the Senate President are Senate Minority Leader, Abba Moro (PDP, Benue South), Chief Whip, Tahir Mongumo (APC, Borno North), Enyinnaya Abaribe (Abia South), Abdulaziz Yari (Zamfara), and Solomon Adeola (APC, Ogun West).
Earlier, the remaining two Tax Reform Bills — the Nigeria Tax Bill 2025 and the Joint Revenue Board (Establishment) Bill, 2025.
This was in addition to passage of the Nigeria Revenue Service (Establishment) Bill, 2025, and the Nigerian Tax Administration Bill, 2025.
Altogether, the four Tax Reform bills were Executive Bills transmitted by President Bola Ahmed Tinubu to the two chambers of the National Assembly in November last year.
The passage of the bills was sequel to the consideration and adoption of a report of the Senate Committee on Finance presented by its Chairman, Senator Sani Musa (APC, Niger East).
Business
Meta’s Exit to Throw 20 million Nigerian MSMEs Out of Business
The Global System for Mobile Communications Association reported that Nigerian MSMEs rely heavily on Facebook and Instagram for sales, customer engagement, and brand visibility.

A Digital Marketing Consultant at EssenceMediacom, Olayinka Shobola, believes that a shutdown of Facebook and Instagram operations in Nigeria would deal a serious blow to Nigeria’s digital economy, especially millions of micro, small, and medium enterprises (MSMEs).
The Global System for Mobile Communications Association reported that Nigerian MSMEs rely heavily on Facebook and Instagram for sales, customer engagement, and brand visibility.
“Meta Platforms’ threat to halt operations in Nigeria could devastate 56 percent of the nation’s 39.6 players in the information technology space,” Shobola said, stressing that such an exit would erode tax revenues and force businesses to seek costly alternatives, as a $290 million fine dispute with regulators intensifies.
“Businesses that built their brands on Meta’s platforms would face immediate challenges.
The platforms have become essential tools for business survival and growth in Africa’s largest economy, where SMEs contribute nearly 50 per cent to GDP and represent more than 96 per cent of registered businesses.
“Most likely affected businesses will pivot to platforms like X or TikTok for short-term survival, but long-term, they’ll need to invest in standalone e-commerce or offline channels,” Shobola said.
“Jobs will take a hit; marketers, influencers, and agencies will lose contracts overnight.”
Statista forecasts a $148.2m social media ad market in 2025, with Facebook commanding up to $120m, driven by 38 million ad-reachable users.“My shop practically lives on these platforms, especially Instagram,” Lagos-based baker Fatima Tunde said. “If it’s gone, I’m out of business.”
Business
UAE Invests in $25bn African- Atlantic Gas Pipeline
The gas pipeline will connect Nigeria’s gas network with Morocco’s southern city of Dakhla and then go northward toward Europe.

•Gas pipelines
Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali, said that the UAE is now one of the supporters of the Nigeria to Morocco gas pipeline project, which is estimated to cost $25 billion.
“The project now called the “African-Atlantic Gas Pipeline”, has won the support of IDB, OPEC Fund, EIB and the UAE,” Benali told Nigerian lawmakers, this week.
Benali also said that Morocco has finished all the feasibility and engineering studies needed for the pipeline.
Moroccan industry experts said that the project has already passed the feasibility study and Front End Engineering Design stages.
The gas pipeline will connect Nigeria’s gas network with Morocco’s southern city of Dakhla and then go northward toward Europe.
The line will pass through 15 African countries, boosting trade, development, and access to electricity in the region.
In Phase One, it will link Morocco to gas fields near Senegal and Mauritania, and connect Ghana to the Ivory Coast.
Phase Two will link Nigeria to Ghana, while Phase Three will connect the Ivory Coast to Senegal.
-
Crime2 days ago
Nigeria Police Nabs Two Countrymen Allegedly Behind Transnational Sex and Robbery Crimes
-
News2 days ago
Gabonese President Confers Prestigious Honours on Tony Elumelu
-
Politics3 days ago
Pat Utomi Forms Shadow Govt • It’s an Abberation – FG
-
Crime2 days ago
Nigeria Police Arrests two High-Profile Fugitives Wanted for Human Trafficking, Armed Robbery
-
News1 day ago
BREAKING: Catholic Church elects new Pope
-
News2 days ago
JUST IN: EFCC releases VeryDarkMan
-
News2 days ago
Rising insecurity: NASS, ex-generals demand urgent military re-armament
-
Business1 day ago
DStv Subscription: Court dismisses MultiChoice suit against FCCPC