Business
U.S Gifts Nigeria $2 Million Broadband Study Grant
During the Technology Dialogue, the U.S. Department of State hosted a senior delegation from the Nigerian government led by the Honorable Minister of Communications, Innovation and Digital Economy Bosun Tijani.
The United States and Nigeria have signed a new $2,095,000 grant to assess the viability of the deployment of at least 90,000 km of new fiber optic backbone infrastructure across Nigeria.
The grant was signed during the U.S- Nigeria Technology Dialogue hosted by the Department of State in Washington, D.C.on January 10.
In a statement, the Office of the Spokesperson said that the project, funded by the U.S. Trade and Development Agency, supports Nigeria’s National Broadband Plan 2020-2025 to increase the country’s broadband penetration rate from 42.27 percent to 70 percent and ensure that at least 90 percent of Nigeria’s population has access to affordable and reliable broadband coverage.
During the Technology Dialogue, the U.S. Department of State hosted a senior delegation from the Nigerian government led by the Honorable Minister of Communications, Innovation and Digital Economy Bosun Tijani.
The parties discussed enhancing the resilience and security of essential services and facilities; promoting digital trade, e-commerce, and innovation-driven economic growth; developing a skilled workforce to meet the demands of the digital age; expanding our artificial intelligence partnership related to capacity building, infrastructure, and rights-respecting approaches to governance; and promoting information integrity.
Following the formal Technology Dialogue, the delegations joined a roundtable discussion with industry representatives hosted by the U.S. Chamber of Commerce.
Industry participants included representatives from over 25 U.S. and Nigerian companies active in technology sectors, including artificial intelligence, telecommunications, digital infrastructure, satellites, aerospace, fintech, and cybersecurity.
The program featured a panel discussion on Advancing Public-Private Sector Investment in Innovation and Digital Talent Development.
This panel highlighted opportunities for public-private partnership and investment solutions to spur innovation and promote digital talent development through the U.S.-Nigeria commercial partnership.
A second panel discussion on the role of critical infrastructure in advancing the use of AI examined the interplay between the infrastructure that is essential to the development of AI and the governance frameworks that can help spur deployment of emerging technologies to support inclusive growth.
In line with the Technology Dialogue, the United States and Nigeria agreed to hold a virtual expert exchange on AI-enabled biotechnology.
This discussion will explore how the convergence of AI and biotechnology can spur progress in addressing global health, food security, and science – with a focus on sub-Saharan Africa.
Business
12 states harmonise new tax reforms, says Oyedele
“Let us stop using consultants to collect taxes. It undermines our ability to do what is right. The new tax law says you cannot use consultants to do the routine work of the tax authority and its autonomy must be guaranteed.”
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, says that twelve states have so far adopted tax reform and harmonised the new acts with their laws.
Oyedele disclosed this during a presentation at the National Economic Council Conference in Abuja, yesterday.
Oyedele said that besides the 12 states, 13 states have the bills in their houses of assembly, while 11 states are in the final stages of presenting the bills.
He said it was important for the states to adopt and harmonise the new tax laws with their state tax laws to avoid multiple taxation.
He advised state governors to grant their internal revenue agencies autonomy.
“Let us stop using consultants to collect taxes. It undermines our ability to do what is right. The new tax law says you cannot use consultants to do the routine work of the tax authority and its autonomy must be guaranteed,” he said.
Business
Heineken to cut global workforce by 6,000 as beer demands falter
There are fears that Nigeria would be impacted as the company revealed that the cuts would be focused on non-priority markets offering fewer growth prospects.
• Heineken
Global brewer, Heineken, yesterday, said it would retrench 6,000 staff out of its 87,000 global workforce this year as it grapples with weak demand and rising costs.
The second biggest brewer by market value has promised to deliver higher growth with less resources as it looks to assuage investors who said it has fallen behind on efficiency.
This is coming right after the surprise January resignation of its current Chief Executive Officer, Dolf van den Brink, leaving the company scrambling for a new CEO.Also, sales across the sector are faltering amid strained consumer finances, geopolitical turbulence and bad weather.
The company said this productivity drive will unlock savings and reduce its global head count by 5,000 to 6,000 positions over the next two years, roughly seven percent of its global workforce of 87,000 people.
The company’s head of finance, Harold van den Broek, added that they are doing this to strengthen operations and to be able to invest in growth.
There are fears that Nigeria would be impacted as the company revealed that the cuts would be focused on non-priority markets offering fewer growth prospects.
He added that further cuts would also result from previously announced initiatives targeting Heineken’s supply network, head office and regional business units.
Outgoing-CEO van den Brink, who steps down in May, said that there was no update on the brewer’s search for a successor.
Along with weak demand, brewers are facing long-term declines in beer sales in some key markets, dented by issues such concerns over the health impact of alcohol consumption.
Heineken expects slower profit growth for 2026 of between 2 and 6 per cent against the 4 to 8 per cent growth it guided for last year.
Business
NAFDAC : FG directive to halt enforcement on sachet alcohol’s “False, Misleading “
“At no time has the Agency received any formal directive ordering the suspension of its regulatory or enforcement activities in respect of sachet alcohol products.”
The National Agency for Food and Drug Administration and Control (NAFDAC) has dismissed as false reports claiming that the Federal Government directed it to suspend enforcement actions against sachet alcohol and 200ml PET bottle alcoholic products.
In a statement signed by Mojisola Adeyeye, its director general, the agency described the publication as “false and misleading,” stressing that it had received no official communication from the Federal Government ordering such a suspension.
NAFDAC stated that it operates strictly within its statutory mandate and only acts on formally communicated government policies and directives.
According to the agency, “At no time has the Agency received any formal directive ordering the suspension of its regulatory or enforcement activities in respect of sachet alcohol products.”
The regulator reaffirmed its commitment to public health protection, regulatory compliance, and transparency in carrying out its responsibilities in line with established laws and due process. It emphasised that any decision affecting national regulatory actions would be conveyed through official government communication channels.
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