Business
Lagos Declares Manufacturing, Selling, Distributing single-use Plastics a Crime
Wahab called on the public, particularly business owners, food vendors, and market traders, to cooperate with the government to ensure a cleaner, safer, and more sustainable Lagos.

• Tokunbo Wahab
The Lagos State Government has announced the commencement of full enforcement of the ban on the use and distribution of Single-Use Plastics (SUPs) across the state, effective July 1, 2025.
Mr. Tokunbo Wahab, the Commissioner for the Environment and Water Resources, made the announcement on Tuesday during a media briefing held at Alausa, Ikeja.
He emphasized that offenders will be prosecuted in line with the State’s Environmental Laws.
Wahab stated that the decision to enforce the ban follows an 18-month transition period granted to residents, manufacturers, and vendors to adjust and adopt more sustainable alternatives.
“The decision to ban Single-Use Plastics in Lagos was not arbitrary. It was an existential one, influenced by multiple factors,” he said.
Wahab explained that Lagos, a coastal city situated below sea level with the smallest land mass in the country—just 3,575 square kilometers—houses about 10 percent of Nigeria’s population.
“That alone is a recipe for environmental crisis. We did not just wake up whimsically and choose to ban styrofoam food packs in 2024.
We had always stated that within the next 12 months, all single-use plastics would follow.
Now, nearly 18 months later, we believe ample time has been given for all to transition. Enforcement starts July 1, and heavens will not fall.
Banned Items and Reasons
Styrofoam Packs: Banned due to their non-biodegradable nature and harmful environmental impact.
Plastic Straws: Prohibited to reduce plastic waste and promote eco-friendly alternatives.
Disposable Plastic Cups and Cutleries: Banned to curb single-use plastic pollution.
Lightweight Nylon Bags: Outlawed because they are not reusable or biodegradable, contributing significantly to environmental degradation.
Wahab called on the public, particularly business owners, food vendors, and market traders, to cooperate with the government to ensure a cleaner, safer, and more sustainable Lagos.
Business
NCS Replacing 4% import charges with 1% CISS import levy
Adeniyi explained that the one percent CISS levy has been in place for several years and has been instrumental in facilitating trade and generating revenue for the government.

The Nigerian Customs Service (NCS) has announced that it will be replacing the proposed 4 percent import levy with the existing 1 percent Comprehensive Import Supervision Scheme (CISS) levy.
The Comptroller -General of Customs (CGC), Adewale Adeniyi, made the revelation at an engagement held in Lagos to sensitize stakeholders in the B’Odogwu platform.
The CGC who is also the Chairperson of the World Customs Organization (WCO) explained that, though the introduction of the 4 percent FOB had been enshrined in the constitution.
He noted that the decision to reintroduce the levy was made after careful consideration and consultation with relevant stakeholders.
Adeniyi explained that the one percent CISS levy has been in place for several years and has been instrumental in facilitating trade and generating revenue for the government.
Business
GenCos Oppose Enugu’s Band A tariff cut to N160/kWh
In a statement issued on Monday by the Chief Executive Officer of the Association of Power Generation Companies, Joy Ogaji, the GenCos stated that the tariff revision sets a precedent for all other states and fails to reflect the true cost of electricity generation.

Power generation companies (GenCos) have kicked against the Enugu Electricity Regulatory Commission’s new tariff order to MainPower Electricity Distribution Limited, which adjusted the electricity cost for Band A customers from N209 per kilowatt-hour to N160/kWh, effective August 1, 2025.
In a statement issued on Monday by the Chief Executive Officer of the Association of Power Generation Companies, Joy Ogaji, the GenCos stated that the tariff revision sets a precedent for all other states and fails to reflect the true cost of electricity generation.
MainPower is the utility that succeeded Enugu Electricity Distribution Company after the state got the approval of the Nigerian Electricity Regulatory Commission to control its electricity market.
The new tariff was contained in the Enugu commission’s Order No. EERC/2025/003 entitled ‘Tariff Order for MainPower Electricity Distribution Limited 2025’, and was issued by the commission on Sunday.
It said “its decision was cost reflective, insisting that the tariff must reflect the power generation subsidy by the Federal Government for the benefit of electricity consumers.”
Business
Zenith named Nigeria’s best bank at Euromoney awards for excellence 2025
Commenting on the award, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dr. Adaora Umeoji said, “We are absolutely thrilled to be recognised as Nigeria’s best bank by Euromoney.

L-R: Former Economic Secretary to the Treasury of the United Kingdom, Ed Balls; Head of Multinationals and Financial Institutions, Zenith Bank (UK) Ltd, Natalie Andrew; Manager, Wealth Management, Zenith Bank (UK) Ltd, Noelia Pinto; Group Managing Director/CEO, Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON; Executive Director, Zenith Bank Plc, Dr. Mrs. Adobi Nwapa; CEO, Zenith Bank (UK) Ltd, Udu Ovbiagele; and Euromoney’s Head of Banking for US & Europe, Dominic O’Neill during the presentation of Nigeria’s Best Bank Award to Zenith Bank Plc at the Euromoney Awards for Excellence 2025 at The Peninsula, London.
Zenith Bank Plc has been named “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025.
The award was presented to the bank on Thursday, July 17, 2025 in London.
The annual awards celebrates financial institutions that demonstrate leadership, innovation, and resilience in their markets, with this year’s edition seeing a record number of over 770 entries from financial institutions including HSBC, Morgan Stanley, CitiBank, Barclays, Standard Bank and Development Bank of Singapore (DBS), among others.
Commenting on the award, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dr. Adaora Umeoji said, “We are absolutely thrilled to be recognised as Nigeria’s best bank by Euromoney.
“This award is not just a testament to our relentless pursuit of excellence, but also a validation of the unwavering trust and confidence our customers have placed in us.
We are once again reminded that our success is not just about us, but about the impact we continue to have on the financial ecosystem.
We will continue to work tirelessly to support the growth and development of our economy and uphold the highest standards of governance, integrity and transparency that has earned us this recognition.”
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