Business
Oyetola Queries NIMASA over foreign contracts breach allegations

▪︎Dayo Mobereola, DG NIMASA
The Minister of Marine and Blue Economy, Adegboyega Oyetola has ordered a probe into series of allegations against the Nigerian Maritime Administration and Safety Agency (NIMASA).
This follows the alleged deportations of 296 cadets by the Springdale Academy of Maritime Education and Training Trust (SAMET) in India.
SAMET is a vendor of the National Seafarers Development Programme (NSDP).
Daily Trend, reported that SAMET in a petition dated July 19, 2024 through its Nigerian legal firm, Kunle Adegoke & Co and signed by Kunle Adegoke, accused the NIMASA, to have renegotiated the terms of the MoU in an “unconventional manner”, contrary to provisions of the said MoU and with an alleged “intention to achieve personal gratification.”
Consequently, the Minister of Marine and Blue Economy, Adegboyega Oyetola have subsequently, issued a query to the Director – General of NIMASA, Dr Dayo Mobereola to answer to these allegations in seven days.
The Query was signed by Director of Maritime Security and Safety in the Ministry of Marine and Blue Economy, Mr Babatunde Bombata on behalf of the Minister.
In Specific terms, the query letter dated August 25th, 2024 asked the NIMASA DG and his Executive Directors to respond to the allegations by the Kunle Adegoke, Lawyers to the Vendor.
SAMET in India had petitioned the NIMASA DG over alleged breach of contractual agreement with Maritime Labour and Cabotage Services.
SAMET in the petition dated July 19, 2024 through its Nigerian legal firm, Kunle Adegoke & Co and signed by Kunle Adegoke, demanded an immediate payment of all sums due and payable as per the invoices already submitted to the Agency in line with the obligations contained in the Memorandum of Understanding (MoU) between the parties.
Titled “Breach Of Contractual Engagement As Contained In The Memorandum Of Understanding Duly Executed Between Nigerian Maritime Administration And Safety Agency (NIMASA) And Springdale Academy Of Maritime Education & Training Trust (SAMET), India.”
the Indian company appealed to NIMASA DG to thoroughly investigate its complaint against the Executive Director, ML & CS; Mr Jibril Abba, with unbiased mind.
Business
Senate Constitutes Abdullahi Yahaya Tax Harmonisation Committee
Altogether, the four Tax Reform bills were Executive Bills transmitted by President Bola Ahmed Tinubu to the two chambers of the National Assembly in November last year.

The Senate on Thursday constituted a committee saddled with the responsibility of harmonizing its amendments to the tax reform bills with the House of Representatives version for final transmission to President Bola Ahmed Tinubu.
Senate President, Godswill Akpabio, announced this during plenary after the passage of the bills.
Akpabio named senator Abdullahi Yahaya (Kebbi North) as chairman of the committee.
The members of the committee as announced by the Senate President are Senate Minority Leader, Abba Moro (PDP, Benue South), Chief Whip, Tahir Mongumo (APC, Borno North), Enyinnaya Abaribe (Abia South), Abdulaziz Yari (Zamfara), and Solomon Adeola (APC, Ogun West).
Earlier, the remaining two Tax Reform Bills — the Nigeria Tax Bill 2025 and the Joint Revenue Board (Establishment) Bill, 2025.
This was in addition to passage of the Nigeria Revenue Service (Establishment) Bill, 2025, and the Nigerian Tax Administration Bill, 2025.
Altogether, the four Tax Reform bills were Executive Bills transmitted by President Bola Ahmed Tinubu to the two chambers of the National Assembly in November last year.
The passage of the bills was sequel to the consideration and adoption of a report of the Senate Committee on Finance presented by its Chairman, Senator Sani Musa (APC, Niger East).
Business
Meta’s Exit to Throw 20 million Nigerian MSMEs Out of Business
The Global System for Mobile Communications Association reported that Nigerian MSMEs rely heavily on Facebook and Instagram for sales, customer engagement, and brand visibility.

A Digital Marketing Consultant at EssenceMediacom, Olayinka Shobola, believes that a shutdown of Facebook and Instagram operations in Nigeria would deal a serious blow to Nigeria’s digital economy, especially millions of micro, small, and medium enterprises (MSMEs).
The Global System for Mobile Communications Association reported that Nigerian MSMEs rely heavily on Facebook and Instagram for sales, customer engagement, and brand visibility.
“Meta Platforms’ threat to halt operations in Nigeria could devastate 56 percent of the nation’s 39.6 players in the information technology space,” Shobola said, stressing that such an exit would erode tax revenues and force businesses to seek costly alternatives, as a $290 million fine dispute with regulators intensifies.
“Businesses that built their brands on Meta’s platforms would face immediate challenges.
The platforms have become essential tools for business survival and growth in Africa’s largest economy, where SMEs contribute nearly 50 per cent to GDP and represent more than 96 per cent of registered businesses.
“Most likely affected businesses will pivot to platforms like X or TikTok for short-term survival, but long-term, they’ll need to invest in standalone e-commerce or offline channels,” Shobola said.
“Jobs will take a hit; marketers, influencers, and agencies will lose contracts overnight.”
Statista forecasts a $148.2m social media ad market in 2025, with Facebook commanding up to $120m, driven by 38 million ad-reachable users.“My shop practically lives on these platforms, especially Instagram,” Lagos-based baker Fatima Tunde said. “If it’s gone, I’m out of business.”
Business
UAE Invests in $25bn African- Atlantic Gas Pipeline
The gas pipeline will connect Nigeria’s gas network with Morocco’s southern city of Dakhla and then go northward toward Europe.

•Gas pipelines
Morocco’s Minister of Energy Transition and Sustainable Development, Leila Benali, said that the UAE is now one of the supporters of the Nigeria to Morocco gas pipeline project, which is estimated to cost $25 billion.
“The project now called the “African-Atlantic Gas Pipeline”, has won the support of IDB, OPEC Fund, EIB and the UAE,” Benali told Nigerian lawmakers, this week.
Benali also said that Morocco has finished all the feasibility and engineering studies needed for the pipeline.
Moroccan industry experts said that the project has already passed the feasibility study and Front End Engineering Design stages.
The gas pipeline will connect Nigeria’s gas network with Morocco’s southern city of Dakhla and then go northward toward Europe.
The line will pass through 15 African countries, boosting trade, development, and access to electricity in the region.
In Phase One, it will link Morocco to gas fields near Senegal and Mauritania, and connect Ghana to the Ivory Coast.
Phase Two will link Nigeria to Ghana, while Phase Three will connect the Ivory Coast to Senegal.
-
Crime2 days ago
Nigeria Police Nabs Two Countrymen Allegedly Behind Transnational Sex and Robbery Crimes
-
News3 days ago
JUST IN: Reps, Benue gov clash Over Insecurity as NASS resumes today
-
News2 days ago
Gabonese President Confers Prestigious Honours on Tony Elumelu
-
Politics2 days ago
Pat Utomi Forms Shadow Govt • It’s an Abberation – FG
-
Crime2 days ago
Nigeria Police Arrests two High-Profile Fugitives Wanted for Human Trafficking, Armed Robbery
-
International3 days ago
Zuckerberg’s Meta Faces Competition Lawsuit in U.S.
-
News2 days ago
JUST IN: EFCC releases VeryDarkMan
-
News19 hours ago
BREAKING: Catholic Church elects new Pope