Business
UBA To Rollout Banking Products For Ex-staff
” As a bank that is interested in the welfare of both staff and ex-staff, we are going to roll out products that are specifically tailored to suit the needs of all our alumni.”
Oliver Alawuba, UBA’s Group Managing Director, disclosed this, during the relauch of the UBA Alumni Network Programme, in Lagos.
He said that some of the new offerings and benefits to be enjoyed by the members of the UBA alumni include debt restructuring and a moratorium for staff who left while still servicing loans, top-up loans, CoT concessions, access to senior citizens loans, and fast-tracking of banking services, among others.
He expressed the bank’s commitment to reposition the alumni to do more to ensure that ex-staff remain comfortable ambassadors of the brand.
“I understand that this very key network was launched in 2021, and we have come here today to assure all the members of our alumni that UBA, which is over 75 years old, will continue to play the role of becoming a beacon of hope to our Ex-staff,” he said .
Muyiwa Akinyemi, the UBA’s Deputy Managing Director, also noted that the bank is where it is today because of the sacrifices made by its ex-staff several years ago, adding that this is the driving force behind the bank’s desire to support them.
“Today, we are here, but tomorrow, we might be somewhere else, and it is, therefore, essential for us to bond with our former employees who we recognise as ambassadors that have contributed to the bank’s legacy in various sectors over the years,” Akinyemi stated.
He explained that with 35 million customers and over 25,000 staff, the bank remains committed to fostering a vibrant alumni community.
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“We will continue to rely on this all important network to help us to know how to serve you better, in the four continents and 24 countries that UBA currently operates in,” he said
The Chairperson of the UBA Alumni Network, Mosunmola Yusuf, who was a former staff with the Employee Experience unit, explained that the bank aims to harness the wealth of knowledge and experience of its former employees, creating a powerful network that extends far beyond the continent.
Business
Nigerian govt suspends implementation of 15% petrol import duty
The Nigerian government has suspended the planned 15 per cent import duty on premium motor spirit (PMS) and automotive gas oil (diesel). The announcement was made by George Ene-Ita, spokesperson for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in a statement on Thursday.
The regulator urged Nigerians to avoid panic buying, assuring that there is adequate supply of petroleum products nationwide.
“It should also be noted that the implementation of the 15 percent ad valorem import duty on imported premium motor spirit and diesel is no longer in view,” NMDPRA stated.
The statement added that both domestic and imported supplies of petrol, diesel, and other petroleum products are sufficient to meet demand, especially during the peak period. The authority warned against hoarding, panic buying, or unwarranted price increases, and affirmed that it would continue to monitor supply and distribution closely.
President Bola Ahmed Tinubu had approved the 15 per cent import duty last month to encourage the use of products from Dangote Refinery. While some stakeholders supported the move as a boost for local refining, critics argued it could increase fuel prices and worsen economic hardship for Nigerians.
Business
NAFDAC’s Ban on sachets alcohol: the economy repercussions, by MAN
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
The Manufacturers Association of Nigeria (MAN) has said that the government’s move to ban the production and sale of alcoholic beverages packaged in sachets and small PET bottles, effective December 31, 2025, will have severe repercussions on the economy.
” This announcement by the NAFDAC, in our view, is counterproductive and threatens to disrupt the economy significantly at a time when it is beginning to stabilise,” said the Association through its Director-General, Ajayi-Kadir.
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
• Mass retrenchment of over 500,000 direct employees and approximately 5 million indirect employees through contracts, marketing, and logistics.”
Ajayi-Kadir said that the earlier directive from the Ministry of Health for a one-year extension, which included the consideration and validation of the draft National Alcohol Policy by stakeholders, should have been taken into account before any significant announcement from another government body.
“We believe that a consultation with whether through a public hearing or focused meetings with relevant parties in the alcohol beverage industry, should have been conducted by the appropriate Senate Committee before an outright ban was imposed.
This approach was successfully followed by the House of Representatives in the recent past,” he stated.
Ajayi-Kadir highlighted that issues related to the ban on alcohol in sachets and small PET bottles were addressed by a broad committee that included all stakeholders, along with NAFDAC representatives, who validated the National Alcohol Policy in October 2025. The committee made the following key recommendations:
• Develop multi-sectoral action plans.- Strengthen enforcement by law enforcement agencies
• Establish licensed liquor stores/outlets in Local Government Areas nationwide.
• Increase monitoring and compliance checks by NAFDAC, FCCPC, and others to ensure product quality and safety.
• Regulatory bodies should focus more on regulation, monitoring, and educational campaigns to inform stakeholders and the public about the dangers of underage alcohol consumption and its sale in motor parks.
• Conduct educational campaigns in secondary schools across the country to raise awareness among students about the dangers and issues related to alcohol abuse.
Furthermore, we would like to note that the unfounded and untested claim of abuse by minors has been challenged by several independent studies conducted by the government.
The industry has proactively launched campaigns promoting responsible alcohol consumption to discourage underage abuse, resulting in expenditures exceeding one billion Naira on media outreach across the nation, which has effectively just underage drinking.
Ajayi-Kadir also stressed that the Senate’s directive for an outright ban is unjust and does not reflect the industry’s true conditions, as it seems the upper chamber has only considered NAFDAC’s perspective.
NAFDAC was part of the validation organised by the Ministry of Health, and it should have presented its views to the Committee and the Ministry during that process, rather than circumventing these channels and approaching the National Assembly without consulting other stakeholders.
Business
Following Lagos, FG moves to ban single-use plastics
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
The Federal Government has commenced the process to ban single-use plastics, inaugurating a committee to steer the policy.
Lagos government began fully enforcement ban on single-use plastics (SUPs), including styrofoam packs, plastic straws, disposable cups, plastic cutlery, and nylons less than 40 microns thick, on July 1, 2025.
The Office of the Secretary to the Government of the Federation (SGF) , yesterday , set up an Inter-Ministerial Committee on the Ban of Single-Use Plastics (SUPs).
Earlier, the Federal Executive Council (FEC) during its meeting on June 25, 2024, approved the ban , specifically targeting Polyethene Terephthalate (PET) bottles, styrofoam food packs, plastic shopping bags, sachet water packaging, and plastic straws.
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
He said: “The FEC decision was in line with the Federal Government’s efforts to tackle various health and environmental challenges, especially those caused by single-use plastic products and therefore, approved the ban in the country of polyethene terephthalate (PET) bottles, styrofoam, plastic bags, sachet water and straw, which has become an environmental sanitation challenge.”
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