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JUST IN: FG To Meet NLC Today Over Fuel Subsidy Removal

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Federal Government representatives are expected to meet with the leadership of the Nigeria Labour Congress (NLC) today by 2pm over the planned removal of fuel subsidy.

“Government seems to have shown interest in discussion. As at last night, they reached out and we have fixed 2pm today (Wednesday) to commence discussion,” NLC National President, Joe Ajaero, on Channels Television’s Sunrise Daily programme on Wednesday.

“There, all other issues will discussed because you can’t just say there no subsidy and then you are not producing and leave us to the vagaries of the market, to people who want to sell the product they bought for N10 for N100 to maximise profit. If there is no more garri, we must find out what to eat.”

He said the position of Labour has been clear that even if President Bola Tinubu has a good intention, alternatives must be provided.

He said the President should have asked questions and find out the implications of fuel subsidy removal on Nigerians on the streets.

The NLC boss listed the alternatives to include the repair of the nation’s four refineries, provision of transportation of alternatives for the Nigerian workers, amongst others.

“The pronouncement by Mr President is as good as law and if in the process we make a law that is not practicable, the same people that made the law can look at it,” Ajaero said while calling for a review of the President’s pronouncement.

“Does it bring pleasure to us to say subsidy is gone and people start suffering? Is it not part of leadership for us to look at how the suffering of the people can be reduced?” he asked.

Subsidy Removal Only Answer To Make Nigeria Great – IPMAN

Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that the deregulation of the oil sector and subsidy removal is the only way to make Nigeria great.

“Removing subsidy is the only answer to make Nigeria great,” IPMAN National Public Relations Officer, Yakubu Suleiman said on Wednesday.

On Monday during his inaugural speech at the Eagle Square in Abuja, Tinubu said the era of subsidy payment on fuel has ended, adding that the 2023 Budget made no provision for fuel subsidy and more so, subsidy payment is no longer justifiable.

“The fuel subsidy is gone,” Tinubu said, noting that his government would instead channel funds into infrastructure and other areas to strengthen the economy.

The Nigerian National Petroleum Company Limited (NNPCL) has since backed Tinubu on the removal of fuel subsidy.

However, the Trade Union Congress of Nigeria (TUC) said the President cannot unilaterally take a decision on subsidy removal, saying that there was a reason the immediate past administration of Muhammadu Buhari pushed the “sensitive issue” to the new government.

Fuel queues have since resurfaced across the country since the presidential pronouncement as Nigerians forage for the premium product which is now sold from N300/litre and above.

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Dangote sets to power his vast industrial empire with biggest seaport in Olokola, Ogun State

This project will require the construction of pipelines from the Niger Delta, according to Devakumar Edwin, vice president of the Dangote Group

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Africa’s richest man, Aliko Dangote, is moving ahead with plans to build a major seaport near his fertilizer and oil refinery plants, a move aimed at easing exports and powering the continued expansion of his vast industrial empire.

Bloomberg reports that Dangote confirmed that his group submitted paperwork in late June to begin work on what he described as “the biggest, deepest port in Nigeria.”

The proposed Atlantic seaport will be located in Olokola, Ogun State, about 100 kilometres (62 miles) from his massive fertilizer and petrochemical facilities in Lagos.

Currently, Dangote exports fertilizer and urea through a private jetty he built near the refinery site, the same jetty that also receives the heavy equipment needed for operations.The new port will help integrate logistics and export activities across the group.

It could rival key facilities in Lagos, including the Chinese-backed Lekki Deep Sea Port, which opened in 2023.

“It’s not that we want to do everything by ourselves,” Dangote said, “but I believe this kind of investment will inspire other entrepreneurs to get involved too.”

Beyond fertilizer exports, Dangote also plans to ship liquefied natural gas (LNG) from Lagos.

This project will require the construction of pipelines from the Niger Delta, according to Devakumar Edwin, vice president of the Dangote Group.

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Global trade grew $300bn in the first half of 2025 – UNCTAD

The shift was driven by a 14% surge in United States imports and a 6% jump in European Union exports.

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Image: Ocean economy/UNCTAD

Global trade expanded by an estimated $300 billion in the first half of 2025, growing at an estimated 1.5% in the first quarter and projections showing 2% growth in the second.

UN Trade and Development (UNCTAD) disclosed this in its just released Global Trade Update (July 2025).

Said the report:

Price increases contributed to the overall rise in trade value. Prices for traded goods edged up in the first quarter and likely continued to rise in the second, while trade volumes grew by just 1%.

Developed economies outpaced developing countries in the first quarter of 2025, reversing recent trends that had favoured the Global South. The shift was driven by a 14% surge in United States imports and a 6% jump in European Union exports.

Trade imbalances widened during the last four quarters, with the US posting a larger deficit, while China and the European Union recorded growing surpluses.

The report further said that global trade faces mounting headwinds in the second half of 2025, amid persistent policy uncertainty, geopolitical tensions and signs of slowing global growth.

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Tax Reform: I rented secret apartment after death threats –Oyedele

These are not small boys and girls,” he said. “They are big people with deep connections and resources. So naturally, they would resist any effort to block those illegal streams.

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Oyedele said that the threats began shortly after he announced a clampdown on more than 60 government agencies illegally collecting taxes and levies across the country.

Chairman of Nigeria’s Presidential Committee on Tax Policy and Fiscal Reforms, Taiwo Oyedele, has revealed that he was forced to flee his home and now lives in a secret location under armed police protection after receiving death threats linked to his tax reform efforts.

The Guardian reports that during a live radio interview on Nigeria Info FM, Oyedele said that the threats began shortly after he announced a clampdown on more than 60 government agencies illegally collecting taxes and levies across the country.

“I had to pack out of my house,” he said. “I rented a place in a secret location where I now live. I’m not the kind of person who wants anybody carrying a gun to follow me around, but I had to accept mobile police protection.”

”Oyedele, a former Africa Tax Lead at PwC, has led the drive to simplify and clean up Nigeria’s tax system.

He described the backlash as unexpected but driven by powerful individuals who had turned tax collection into a personal revenue stream.

“These are not small boys and girls,” he said. “They are big people with deep connections and resources. So naturally, they would resist any effort to block those illegal streams.”

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