The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.

Arewa Youths Initiative for Energy Reforms (AYIFER), has urged  Nigeria National Petroleum Corporation Limited (NNPCL)  to do everything possible to bring Kaduna Refinery back into operation.

National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.

Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.

He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.

“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.

“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.

“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.

Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.

According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.

He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)

The Oyo State Stakeholder Forum says Chairman of Federal Inland Revenue, Mr  Zeech Adedeji, will revamp Oyo State Internally Generated Revenue (IGR) if contests and wins the 2027 governorship election.

Mr Jelili Akande, the convener of the Forum, said this at a news conference in Abuja on Tuesday.

According to him, as Governor, Adedeji will modernise Oyo State’s tax administration system, making it more inclusive, transparent, and technology-driven.

“His strategy will involve the deployment of innovative tools to identify untapped revenue streams, expand the tax base, and ensure that every taxable entity contributes fairly to the state’s development’’, he told newsmen.

He said central to the transformation would be a shift from the traditional reliance on federal allocations to a robust IGR framework.

According to him, by leveraging data analytics and automation, Adedeji would aim to reduce leakages, improve compliance, and make the tax process seamless for individuals and businesses alike.

Akande urged the state government to embrace the template of FIRS chairman to improve the IGR.

He said Adedeji’s tenure at FIRS was marked by strategic reforms that had improved efficiency and transparency.

“Key among these achievements is the introduction of a digital tax filing system, which has streamlined tax processes and minimised leakages.

“This technological transformation has made compliance easier for businesses and individuals alike, leading to a significant increase in tax revenues,’’ he said.

According to him, Adedeji championed public-private-partnerships to create awareness about tax compliance, ensuring that more businesses became part of the formal economy.

He said the FIRS boss’s efforts had not only widened the tax net but had also restored public confidence in how tax revenues are utilised. (NAN)