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Aba Disco gets approval for 50% tariff hike

Aba Power Limited Electric, an electricity distribution company operating in Abia State, has announced a significant increase in electricity tariffs, with rates rising by over 50 per cent. The new tariff took effect on January 1, 2025, following approval from the Nigerian Electricity Regulatory Commission. The announcement was made via the company’s official X (formerly...
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Why only Lagos gov met with Tax Reform Committee

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has reiterated the need for nationwide consultations on the proposed tax reforms, despite opposition from some northern governors. Oyedele, speaking on Arise Television on Sunday, countered claims that the committee had not consulted with stakeholders, particularly governors. He revealed that four...
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Landmark to relocate Lagos HQ after resort demolition

6th January 2025 The CEO of Landmark Group, Paul Onwuanibe. Landmark Africa, the firm behind Landmark Beach Resort in Lagos, plans to relocate its Nigerian headquarters and expand operations. This follows the April 2024 demolition of Landmark Beach Resort, which he called a devastating setback that led to an estimated $80 million loss. The company’s...
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OAGF indicts NNPCL in N514bn transactions

The Office of Auditor-General for the Federation has uncovered at least four major financial infractions amounting to N514bn in the operations of the Nigerian National Petroleum Company Limited for the financial year ending December 31, 2021. The alleged infractions include irregular deductions worth N343.64bn from domestic crude sales at source, warehousing of N83.66bn from the...
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Nigerian banks struggle to resolve customers complaints – KPMG

Multinational professional services firm KPMG has said that the resolution of customer complaints has remained the weakest point for the Nigerian banking sector. This was revealed in its 2024 Banking Industry Customer Experience Survey, which was released recently. The report, which is the second edition of KPMG’s West Africa customer research publication, presents insights from...
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FG can retain VAT as it is – Oyedele

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said it is possible for the current Value Added Tax structure to be kept as it is given the controversies it had stirred. Oyedele said this on Sunday when he appeared on a live television programme on Arise TV to...
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Local crude demand rises as NNPCL battles debt servicing

 The Nigerian National Petroleum Company Limited may continue servicing its crude-for-loan obligations till 2029 as the demand for oil by domestic refineries increases. NNPCL’s debt burden arises from several crude-for-loan agreements that have tied volumes of the country’s oil production to various financial commitments. This is as the local demand for crude has continued to...
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I apologise for saying no heaven without tithe – Adeboye

The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...