Connect with us

Business

JUST IN: NARTO Agrees to call off Nationwide strike, vows to commence lifting of petrol with immediate effect

Published

on

13 Views

The Nigerian Association of Road Transport Owners (NARTO), have agreed to call off their nationwide strike and have promised to commence the lifting of petrol products with immediate effect.

This comes after two days of negotiations with Major Energy Marketers Association of Nigeria (MEMAN) and other critical stakeholders in the industry for appropriate and commensurate freight rates for its operations.

Recall that NARTO had insisted on withdrawing its services nationwide, citing high operational costs and low freight rates.

In a letter addressed to the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), signed by its national president, Yusuf Lawal Othman, NARTO said it had made several efforts to negotiate with the Major Energy Marketers Association of Nigeria (MEMAN) and other critical stakeholders in the industry for appropriate and commensurate freight rates for its operations, but received no positive responses.

The notice of withdrawal of their services and operations portends serious implications for the supply and distribution of petroleum products across the country, as NARTO controls over 80% of the petroleum transportation in Nigeria.

NARTO said it had no other option but to inform NUPENG that its National Executive Council (NEC) had resolved to direct all its members not to make their petroleum trucks available for petroleum products loading activities with effect from Monday, February 19, 2024.

NARTO appealed to its employees, who are members of NUPENG, to show maximum cooperation, support and understanding to its collective efforts for continued sustainability of the petroleum haulage business and effective service delivery by ensuring adequate and immediate compliance with the directive.

NARTO said it was impossible to continue in the business within the context of the current economic situation in the country.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

President Tinubu List Economic Expectations from New Tax Laws

On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.

Published

on

By

10 Views

President Bola Tinubu said today that the four tax reforms bills he signed into law reflect his administration’s resolve to create a modern, transparent, and efficient tax system capable of supporting national development, promoting investment, and reducing the burden of multiple taxation on citizens.

President Tinubu explained that the laws would be unifying Nigeria’s fragmented tax system, remove redundant overlaps, boost investor confidence, enhance transparency, and promote coordinated efforts across all levels.

He also described the legislation as a clear departure from previous policies, emphasising that the reforms are designed to ease the burden on working families, small businesses, and low-income earners while eliminating inefficiencies that have long plagued Nigeria’s fiscal structure.

On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.

“We are also building a framework for the Nigeria of tomorrow-leaner, fairer and laser focused on unlocking opportunities for all,” he said.

He added : ” These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet.

Designed to overhaul Nigeria’s fiscal and revenue administration framework, the laws which have been described as a major leap in the nation’s economic reform drive.

“For too long, our tax system has been a patchwork-complex, inequitable, and burdensome. It has weighed down the vulnerable and shielded inefficiency. That era ends today.”

Continue Reading

Business

Tinubu signs four Tax Reform Bills to law today

The bills were recently passed by the National Assembly following extensive stakeholders consultations and technical reviews.

Published

on

By

19 Views

President Bola Ahmed Tinubu will today (Thursday) sign into law four tax reform bills set to overhaul Nigeria’s fiscal landscape, streamline tax administration, and boost investor confidence.

The ceremonial signing is scheduled to take place at the State House, Abuja.

In a statement , Bayo Onanuga, Special Adviser to the President on Information and Strategy, said that the four bills are : the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill

The bills were recently passed by the National Assembly following extensive stakeholders consultations and technical reviews.

Continue Reading

Business

Lagos State Enforcement Team Busts Illegal Abattoir in Agege, Arrests Operators

Published

on

24 Views

The Lagos State enforcement squad of the MOE&WR led by KAI operatives on Wednesday burst an illegal abbatoir which was being operated at a private residence at Succo road directly opposite the RRS Barracks and LASTMA Yard in Oko Oba, Agege, arresting some of those found slaughtering animals for public consumption in the location.

The operation followed a tip-off from a whistle blower.

“The enforcement team said, the contaminated meat from cows and goats have been confiscated to prevent it from entering the food chain”.

“This action of the operators of the abbatoir is in defiance of the closure of the Oko Oba Abbatoir and poses great health dangers and environmental risks to the law abiding residents of the area”.

“We need to make it clear that such disregard for public health and sanitation will not be tolerated in Lagos State” .

“Every Government’s primary responsibility is the protection of lives and properties and we will not shirk that responsbbility.”

“We will continue to ensure that only safe and approved public facilities are allowed to operate within our communities.”the statement reads.

Continue Reading

Trending