• 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.

….New rate takes effect from June 30.

The Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit, popularly known as petrol, from N880 to N840 per litre.

Anthony Chiejina, the Spokesman for the Dangote Group, confirmed the price adjustment on Monday night.

Chiejina said the new rate took effect on June 30.

He said, “PMS price has been reduced from N880 to N840 per litre effective 30th June,.

Recall that Dangote refinery hiked the price of petrol to N880 as tension escalated during the 12-day crisis between Israel and Iran, raising the price of crude oil to almost $80 per barrel.

Also, marketers anticipated that there would be a new price regime from Monday.

Dangote’s partners like MRS, Heyden and AP are expected to adjust their pump prices soon.

• Minister of Industry, Trade and Investment, Dr Jumoke Oduwole

The Federal Government has suspended the implementation of contentious provisions in the Financial Reporting Council (Amendment) Act 2023 following concerns raised by private sector stakeholders.

Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, announced the decision in a release on Monday.

She said that it followed a series of high-level consultations with key industry groups.

These include the Nigeria Employers’ Consultative Association (NECA), the Association of Licensed Telecommunications Operators of Nigeria (ALTON), and the Oil Producers Trade Section (OPTS).

At the heart of the concerns is the reclassification of large private companies as Public Interest Entities, requiring them to remit annual dues between 0.02 and 0.05 percent of turnover without a ceiling.

This is in contrast to the ₦25 million cap placed on publicly listed companies regardless of their size.

Stakeholders warned that the provision could increase compliance costs and hurt investor confidence.

But the minister said the policy was part of President Bola Ahmed Tinubu’s pro-business posture under the 8-Point Agenda and has responded with practical measures.

She explained that a stakeholder consultation was held on March 26, 2025, leading to an administrative pause and the formation of a Technical Working Group.

The group, she noted, comprised representatives from NECA, MAN, ALTON, NACCIMA, CAC, SEC, and others and held six meetings over three weeks that culminated in the submission of a comprehensive report on April 17, 2025.

“To provide immediate relief, the Ministry has now directed the Financial Reporting Council to impose an interim cap of ₦25 million on annual dues for private sector PIEs, aligning them with the publicly quoted companies.