Business
NAMA commences calibration of landing equipment at Ekiti Airport
… EKSG says airport set for commercial operations
The Nigeria Airspace Management Agency (NAMA) on Friday commenced the calibration of landing system at the Ekiti Agro-Allied International Cargo Airport in readiness for commencement of commercial flights operation.
This is coming barely a month after the Nigeria Civil Aviation Authority (NCAA), granted approval for non – scheduled flight operations at the airport for a period of six months.
The calibration aircraft that conveyed he NAMA officials touched down on the runway of the airport at exactly 4.13pm.
The exercise commenced immediately. Calibration, in the air system industry is a process that allows safety of air navigation by conducting regular flight inspection, calibration of test equipment systems, and surveillance of airspace system.
It is also part of the final stages of ensuring the facility meets global aviation standards for safe and efficient operations.
On hand at the airport to receive the NAMA team were the Technical Adviser to the Governor on Airport Project, AVM Sunday Makinde (rtd); Commissioners for Information, Rt. Hon. Taiwo Olatunbosun; Environment, Chief (Mrs) Tosin Aluko- Ajisafe; Transport, Hon Kolawole Akobiewe; Special Adviser to the Governor on Media and Strategy, Mr Yinka Oyebode; among others.
Briefing Journalists at the airport, AVM Makinde (Rtd) said, the landing of the calibrator aircraft as well as the calibration exercise by NAMA officials was a major step in the final approval for commercial operations at the airport.
According to him, the exercise was to assess and fine-tune the navigational aids equipment installed at the airport which include, instrument landing systems, communication radios, and other essential equipment required for safe and efficient operations.
Expressing his delight at the progress of the airport, AVM Makinde explained that the airport is fully ready for commercial operation, adding that it can accommodate any type of aircraft.
“What’s happening here today is actually a working flight operation, this plane is a calibration plane from NAMA.
Basically what they came for is just to ensure that our systems, especially our navigations, are able to pick any frequency of any aircraft coming to Ekiti and also check out communication systems.
The Ekiti Agro Cargo international airport is fully ready.” He assured.In his own remarks, the Commissioner for Information, Chief Taiwo Olatubosun, explained that with series of inspections by relevant regulatory aviation agencies, and certifications, the Airport is ready for smooth take off.
Describing the development as a dream come true, Olatubosun said the airport would open new doors for investment, tourism, and economic growth in the state as well as facilitate business, attract investors, and make life easier for the people.
While assuring that the development would boost the socio economic and industrial development of the state, the Commissioner said the completion of the airport is a testament to Governor Oyebanji ‘s commitment to the transformation of the state’s economy and establish it as a hub for both local and international connectivity.
The NAMA team is billed to depart the airport on Saturday.
Business
NTA didn’t introduce VAT on charges collected by banks — NRS
The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.
Photo: NRS chairman, Zacch Adedeji
The Nigeria Revenue Service (NRS) has clarified that the Nigeria Tax Act (NTA) did not introduce VAT on banking charges, nor did it impose any new tax obligation on customers in this regard.
In a statement made available to newsmen and signed by Dare Adekanmbi, Special Adviser on Media to the NRS chairman, Zacch Adedeji, the service said the claims are incorrect.
According to the NRS, VAT has always applied to banking services and was not introduced by the Nigeria Tax Act.
The statement reads:
“The Nigeria Revenue Service (NRS) wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT) has been newly introduced on banking services, fees, commissions, or electronic money transfers.
This claim is categorically incorrect.
“VAT has always applied to fees, commissions, and charges for services rendered by banks and other financial institutions under Nigeria’s long-established VAT regime.”
Business
LIRS gives employers Jan 31 deadline for filing 2025 tax returns
The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.
The Lagos State Internal Revenue Service(LIRS) fixed statutory deadline of January 31, 2026, for all employers of labour in the state to file their annual tax returns for the 2025 financial year.
The Executive Chairman of LIRS, Dr Ayodele Subair, who gave the directive on Thursday, reminded employers that the obligation to file annual returns is in line with the provisions of the Nigeria Tax Administration Act 2025.
Subair explained that employers are required to file detailed returns on emoluments and compensation paid to their employees, as well as payments made to service providers, vendors, and consultants, and to ensure that all applicable taxes due for the 2025 year are fully remitted.
He emphasised that the filing of annual returns is a mandatory legal obligation and warned that failure to comply would attract statutory sanctions, including administrative penalties, as prescribed under the new tax law.
Business
Nigeria To Review Inflation Reporting First Time In 15 years
The agency said the expected spike in December inflation did not reflect actual price movements in the economy but was largely a statistical distortion caused by the rebasing of the Consumer Price Index.
Nigeria’s National Bureau of Statistics (NBS) has announced plans to revise its inflation reporting methodology.
This followed concerns that December’s year-on-year figure may be artificially inflated due to the impact of last year’s rebasing exercise.
The agency said the expected spike in December inflation did not reflect actual price movements in the economy but was largely a statistical distortion caused by the rebasing of the Consumer Price Index.
Reuters reported that the rebasing, the first in 15 years, adopted December 2024 as the index reference point.
Officials explained that the change is likely to exaggerate the year-on-year inflation figure for December without accurately capturing prevailing market trends.
Australian woman wakes to find massive python on her chest
NTA didn’t introduce VAT on charges collected by banks — NRS
FG approves 6-month maternity leave for female lecturers without pay
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
-
Politics3 days agoBreaking News: FHC Sacks Wole Oluyede, Ekiti PDP flag bearer
-
News3 days agoInsurgency: US Military supplies Nigeria with weapons to combat terrorism
-
News2 days agoUPDATE: Edo State Government Moves to Release 52 Ambrose Alli University Students Arrested Amid Ekpoma Protest
-
News3 days agoNELFUND releases N161.97bn student loans to more than 864,000 students
-
Sports3 days agoAFCON 2025: Osimhen to captain Super Eagles against Morocco
-
News3 days agoSokoto community empty as Bello Turji plans attack
-
Sports3 days agoAFCON 2025: Ghanaian Daniel Laryea is Nigeria–Morocco semi-final Referee
-
Opinions2 days agoReframing Nigeria’s Banditry Crisis: From Emotional Narratives to Strategic Clarity