Business
MAN Is Wooing Tinubu On Anti- Manufacturing Policies
The Manufacturers Association of Nigeria has requested President Bola Ahmed Tinubu, to look into the fiscal and monetary policies of the government that are hindering industrial growth.
The Association also applauded President Tinubu for the swift stoppage of the fuel subsidy, and said ,” It is an unmistakable indication of a far-sighted strategic choice.”
MAN, in its reaction to PresidentTinubu’s inauguration speech, said, ” Change in administration is usually greeted with expectations and as an advocacy group, we surely look forward to a number of policy changes and decisions.”
Segun Ajayi- Kadir, the Director- General of the Association, noted that the manufacturers are eager to see President Tinubu matches his words with actions regarding.
Tinubu had in his inuauguration speech promises ” industrial policies that will utilize the full range of fiscal measures to promote domestic manufacturing and lessen import dependency.”
Segun Ajayi- Kadir, listed some of the policies of the previous goverments needing overhauls, to include the followings :
* A marching order, so to say, is needed to move the Central Bank towards a unified exchange rate.
* A reversal of the unwarranted violation of the government’s three-year excise escalation roadmap on alcoholic beverages and tobacco.
- Direct the NERC to admit all qualified applicant companies into the Eligible Customer Scheme in order to allow them access to power as stipulated in the Electric Power Sector Reform Act 2005.
- Direct all relevant agencies of government to ensure that the electronic call-up system at ports aimed at redressing the congestion works without fail.
- Revisit the Finance Bill 2022 to ensure it includes the critical inputs of the organized private sector. In particular, the jettisoning of the highly objectionable removal of the 10% investment allowance on the acquisition of plants & machinery (in the Company Income Tax Act, section 32). Additionally, to ensure that the imposition of the 0.5% levy on eligible imports from third countries is limited to goods that we have the capacity to produce locally and quite importantly, exclude raw materials that are not locally available.
- The input of the Organised Private Sector on the CEMA bill should also be taken on board before the amendment bill is signed into law.
*Announce a special policy initiative to address the revival of closed and distressed industries, particularly in the northeast where 60% of our member companies have closed.
*Craft and announce a special policy initiative to leverage diaspora expertise and investment to address evident gaps and help to boost the performance of the economy.
- Direct all ministries, departments, and agencies of government to unfailingly comply with Executive Order 003 on the patronage of made-in-Nigeria products.
In this regard, there should be strict application of the margin of preference, effective monitoring and periodic evaluation of compliance, and appropriate sanctions meted out to MDAs acting in breach of the executive order. - Announce a special policy initiative to derisk manufacturing and release adequate funding for the sector through effective funding of special lending windows.
Business
Woman demands $250,000 from Promasidor over son’s death at factory
A few hours after reporting to the factory, Patrick reportedly fell from a rooftop into a warehouse and died.
• Patrick Ogbu
One Mrs Susan Ogbu has filed a $250,000 lawsuit against Promasidor Nigeria Ltd.; its parent company, Promasidor Holdings; and several others over the death of her 26-year-old son, Patrick Ogbu.
The suit, filed at the National Industrial Court in Lagos, alleged gross negligence and unsafe work practices.
Other defendants named in the case are Mr Dapo Omolade (operating under the Dapo Omolade Empowerment Initiatives), Hybrid Group Limited, Hybrid HSE Limited, Bohlar Integrated Services, and the Minister of Labour and Employment.
In the suit marked NICN/LA/361/2024, Mrs. Ogbu, through her counsel David Kupolati, is demanding N300 million in compensation, and N150 million in general damages from the defendants, citing wrongful death due to negligence.
She is also seeking a court order for a 21 per cent annual interest on the judgment sum until it is fully paid, along with N5 million, in legal costs.
Patrick Ogbu joined the HSE trainee program operated by Omolade and Hybrid Group on April 1, 2024, under an offer letter dated March 4, 2024.
The program promised technical skills training in health and safety and offered a monthly stipend of N65,000.
According to the claimant, her son, Patrick was, on August 9, 2024 assigned to Promasidor Nigeria’s factory through an arrangement between Bohlar Integrated Services and Promasidor.
A few hours after reporting to the factory, Patrick reportedly fell from a rooftop into a warehouse and died.
“Sadly a few hours after the claimant’s son left home to resume work at the Promasidor (fifth defendant) project site, she received the sad news that her son had fallen from the factory rooftop into the warehouse and died almost immediately.
“The unfortunate, sad and premature death of her son arose due to the gross negligence and unsafe practices of Dapo Omolade, Hybrid Group, Hybrid HSE Limited, Bohlar Integrated Services and Promasidor Nigeria,” she said.
His mother blamed the accident on the “gross negligence and unsafe work conditions” at the site, attributing responsibility to all the defendants.
Mrs Ogbu is also requesting that the court compel the Minister of Labour and Employment to investigate the operations of the DOME initiative and impose sanctions on all responsible parties.
She further seeks an order for a full health and safety audit of Promasidor’s factories and a formal inquiry into the company’s labour practices across Lagos and Ogun states.
Source: PUNCH
Commercial banks in Nigeria, including Guaranty Trust Bank customers will commence payment of N6 for every SMS transaction alert starting tomorrow.
This is coming on the heels of the increase in telecommunications rates by telecommunications providers following a nod by the federal government.
The SMS charges were increased by 50% to N6 from the previous N4 per message.
Various banks had sent emails to their customers to inform them of the current change.
An email from Guaranty Trust Bank Limited with the heading “Increase in SMS Transaction Alert Fee” read:
“Dear Valued Customer, Please be informed that effective Thursday, May 1, 2025, the SMS transaction alert fee will increase from N4 to N6 per message.
This adjustment is due to a recent increase in telecom rates as communicated by the telecommunication service providers.
“Kindly note that transaction alerts are important and help you keep track and stay in control of activities on your account.
“SMS alerts to international phone numbers are subject to higher charges.”
Business
NNPC Sacks 200 Mele Kyari’s Loyalists
Those departing immediately are Bala Wunti, former chief of National Petroleum Investment Management Services (NAPIMS), and Ibrahim Onoja, managing director of the Kaduna Refinery.
The Nigerian National Petroleum Company (NNPC) Ltd has appointed Maryam Idrisu as Managing Director of NNPC Trading and Obioma Abangwu as Chief Liaison Officer for Board Matters.
This followed the reported sack of over 200 staff, including loyalists of the former Group Chief Executive Officer (GCEO), Mele Kyari.
BusinessDay reported that those departing immediately are Bala Wunti, former chief of National Petroleum Investment Management Services (NAPIMS), and Ibrahim Onoja, managing director of the Kaduna Refinery.
Also asked to leave is Lawal Sade, the Chief Compliance Officer and former Managing Director of NNPC Trading.
It was gathered that over 200 employees have been impacted, marking the beginning of what may be a series of staff changes.
Woman demands $250,000 from Promasidor over son’s death at factory
BREAKING: Bank customers to pay N6 per SMS transaction alert starting tomorrow
Nigeria Must Prioritize Local Defense Contractors for National Security and Economic Growth
Tech Expert, Zuckerberg trains with UFC champions, Adesanya, Alexander
Organ Trafficking: Ekweremadu bags 10 years in UK prison
SAINT OBI: Between his marriage and his death
-
Crime3 days agoPolice arrest 16-year-old boy with pistol in Lagos
-
Sports3 days agoRemo Stars win Nigerian champions for the first time
-
News3 days agoSanwo-Olu praises Elegushi’s visionary leadership on 15th anniversary
-
Business23 hours agoCompetition Tribunal Orders Coca – Cola to pay N190 million misleading Fines Within 60 Days
-
Politics2 days agoWhy Sanwo-Olu is Angry with Peter Obi •What Peter Obi Says At Johns Hopkins University
-
News3 days agoNigeria Congratulates South Africa On Her Freedom Day Anniversary
-
Sports3 days agoMan City sink Forest to reach third successive FA Cup final
-
Business3 days agoHow Lagos Smart City Projects Are Transforming Real Estate Investment Opportunities in 2025 by Dennis Isong