NEWS
Major Oil Marketers Rally Tanker Drivers for Smooth Operations
Fuel marketers under the aegis of Major Energies Marketers Association of Nigeria (MEMAN) have assured tanker owners of a cordial relationship to ensure smooth lifting of petroleum products.
The group, in a statement signed by its Executive Secretary, Mr Clement Isong, on Tuesday in Lagos said that individual marketers are currently in discussions with their transporters for fair rates of lifting products.
Reports says that the National Association of Road Transport Owners (NARTO) and the Petroleum Tanker Drivers (PTD) had initiated strike action on Feb.
19.NARTO had requested that oil marketers review the freight rates after the deregulation of the downstream sector.
Isong said: “There’s no conflict between our members and the transport unions. Individual marketers are in discussions with their transporters for fair rates, adhering to the Petroleum Industry Act and FCCPC Act, which prohibits jointly setting rates.
“Pump price deregulation promotes healthy competition, encouraging cost-reduction measures for better customer value. It’s a gradual process that requires time for full price recovery and market competition.
“All stakeholders, including operators and MDAs, must collaborate to optimise the supply chain for affordability amid the challenging environment.
“MEMAN and its members recognise the industry’s complexities and commit to sustainable solutions in cooperation with relevant stakeholders.”
Meanwhile, queues for petrol have resurfaced in some parts of Lagos following the strike action.
Some of the filling stations on Ikorodu Road; Bank Anthony Way, Ikeja; Bariga; Mushin and Ojota were besieged by customers, while many were rationing products, selling with either one pump or two.
Others have shut their stations due to lack of products.
On Feb. 6, NARTO made a passionate appeal to the Minister of State for Petroleum, Heineken Lokpobiri, to urgently intervene by addressing some of the challenges confronting the organisation regarding the transportation of petroleum products across the country.
According to the letter which was signed by NARTO’s President, Yusuf Othman, one of the most pressing issues affecting the industry is the decreasing revenues due to rising operational costs and persistently low freight rates.
Under this proposed system, Othman said that transporters would be required to pay a sum of N15,000 to the system operator, further burdening an already strained financial industry.
“Moreover, there are growing concerns that other states along critical road corridors may follow suit and introduce similar charges to boost their internally generated revenue (IGR).
“Lagos, Ogun, and Oyo states charge an exorbitant N180,000 per truck each time a tanker breaks down or parks on their highways,” Othman said.
According to him, this additional financial burden has threatened to push transporters to the brink, potentially leading to widespread disruption in petroleum product distribution. (NAN)
The Deputy Speaker, House of Representatives, Chief Benjamin Kalu, says he will initiate programmes to aggressively disseminate the lofty achievements of President Bola Tinubu’s Renewed Hope Agenda to communities and households in the South-East.Kalu said this on Thursday during the unveiling of the Abia Headquarters of the Renewed Hope Partners (RHP), situated on Ojike Street, Umuahia.
He said that his target was to bring the region to the country’s mainstream politics by embracing the Tinubu’s administration wholly. He said that the Tinubu-led government had performed quite impressively since inception, hence the South-East must show more than a passive acceptance of the administration ahead of 2027.Kalu said: “My dear Ndigbo (Igbo people), the time for a token support has passed.“The pesident’s leadership has fundamentally improved our economy, empowered ouryouth, and begun to bridge the development gap in our zone.“Now, RHP must channel these achievements into electoral victories, ensuring theSouth-East sits at the heart of Nigeria’s renewed hope, as we expect more from the current administration.“By embedding these structures, strategies, and ambassadors into every household conversation, RHP will transform policy wins into popular mandate, guaranteeing that South-East not only benefits from but also drives the continuity of this administration.The deputy speaker also lauded the president’s establishment of the South-East Development Commission (SEDC) in July 2024.According to him, the key objectives of the SEDC include investments in agriculture, manufacturing, and technology tostimulate entrepreneurship and job creation.“Infrastructure development is another major focus, for building roads, railways, and energy facilities to enhance connectivity and spur trade.“Social integration is also prioritised, with initiatives promoting dialogue,reconciliation, and youth empowerment to strengthen unity,” Kalu said.He said that part of his strategies to drive the programme would be to launch “Renewed Hope Councils” in all the South-East LGAs, linked to SEDC outreach teams, turning policy wins intograssroots programmes.He also promised to organise public demonstrations of CNG buses, student-loan awardceremonies, amongst others, “showcasing tangible impacts in Abia, Anambra, Ebonyi, Imo, and Enugu.He said, “the RHP’s mission is to make President Tinubu’s Renewed Hope Agenda a household conversation in every South-East community – so votersunderstand, trust, and ultimately reward this administration in 2027.”The deputy speaker took time to present a detailed account of the president’s performance in different sectors of the nation’s economy.He also cited specific Federal Government’s interventions in critical areas in the South-East, notably gas and energy exploration and exploitation, resumption of work on the Eastern Rail Line, port revitalisation, as well as ecological and environmental interventions, amongst many others.The event was attended by chieftains of the party in Abia, including the state Chairman, Dr Kingsley Ononogbu, two past Speakers of the House of Assembly, Chief Stanley Ohajuruka, who is a member of the SEDC, and Mr Martins Azubuike, amongst others. (NAN)
The Presidency says the Tax Reforms Bill, when passed, will make housing more affordable and available to Nigerians by reducing tax burden on the construction and real estate sectorsThe Chairman of the Presidential Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, made this known in Abuja on Thursday at a Building and Construction Industry Forum.
The forum was organised by the Council of Registered Builders of Nigeria (CORBON) and Housing Development Advocacy Network (HDAN). Speaking on the theme “Nigeria’s Tax Reforms and the Building and Construction Industry: Implications and Opportunities”, Oyedele said the bill has many benefits, but it is being misconceived by some people.According to him, when the bill becomes law, Value Added Tax(VAT) on real estate transactions will be exempted, thereby lowering the cost of building materials and houses.“The bill is designed in a way to favour low income earners contrary to what is being claimed, it will also ease their burden.“There will be no VAT on lands, sale of real estate, and rent is exempted from VAT. Some of these are areas of controversies in the past.“There is an exemption on stamp duties for rents below N10 million a month and capital gains tax is also exempted on the sale of dwelling houses.m,” he saidOyedele added that, in the bill, building materials production including non- metallic products are eligible for priority sector incentives to boost production.He said reforms will be carried out on land transactions including titling and harmonisation of property taxes.“The Tax Reforms Bill will improve the affordability of housing. It will provide relief for people who are paying rent because what this bill is going to do is to remove a lot of the tax burden.“The essence is to make life better for everybody and improve the economic activities in the building and construction sectors, and by extension, the whole of the economy,” he saidOyedele encouraged Nigerians to seek more understanding of the tax reforms and stop relying on social media and headlines that were misinforming them.Speaking in the same veins, the Minister of Housing and Urban Development, Ahmed Dangiwa, said the bill offers a whole relief to construction firms and contractors.Dangiwa, represented by the Director, Public Building, Temitope Gbemi, said the ministry has fully aligned its housing policies with fiscal reforms.He said they were also working with tax authorities to ensure that real estate and housing investments were guided by clarity, equity, and investor protection.On his part, the CORBON Chairman, Samson Opaluwah, identified poor access to finance and multiple taxation as major drawbacks toward the expansion of the council’s potentials.He expressed the hope that the tax reforms bill would address the challenges and moreThe Executive Director of HDAN, Festus Adebayo, said the VAT exemption on lands, real estate and building materials producers was a welcomed development.He advocated for incentives in the tax reforms bill that would attract real estate developers and investors to go into building low cost houses for low income earners.(NAN)The Catholic Diocese of Kafanchan has confirmed the release of Rev. Fr Ibrahim Amos, who was kidnapped from his residence by bandits in the early hours of Thursday.Amos is the Parish Priest of St. Gerald Quasi Parish, Kurmin Risga in Kauru Local Government Area of Kaduna State.
In a statement, Rev. Fr Jacob Shanet, Chancellor of the Kafanchan Diocese, said Amos returned home unharmed at about 10pm on Thursday. Shanet thanked security agencies and members of the public for their prayers and overwhelming show of concern following the priest’s abduction. “Your kind gestures, love and prayers are a testament to the fact that we are not alone in the struggle to respect and promote the dignity of human life.“While we appreciate God for everything, we equally want to thank everyone for walking and praying with us in such a dark and terrible moment.“May the Blessed Virgin Mary, the mother of priests, religious, and all the angels, intercede for those in captivity and bring them back to their families and communities safe and sound,” he said. (NAN)
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