Author: Ifetayo Adeniyi

Customs, 4% FOB charge on imports, suspended Customs, 4% FOB charge on imports, suspended The Nigerian Customs Service has suspended the implementation of the widely criticised four per cent Free-on-Board value on imports. A statement signed by the Customs National Public Relations Officer, Abdullahi Maiwada, disclosed the latest development on Tuesday in Abuja. The amount, as stipulated in Section 18(1)(a) of the Nigeria Customs Service Act 2023, has already raised concerns among businesses struggling with high operating costs. Maiwada said the suspension presents an opportunity to review the service’s revenue framework holistically. The statement read, “The Nigeria Customs Service hereby…

BUA Cement gives donation of medical supplies to 16 Sokoto communities totalling N35m BUA Group • BUA Cement gives donation of medical supplies to 16 Sokoto communities totalling N35m. As part of its Corporate Social Responsibilities, BUA Cement, a leading cement manufacturer in Africa, has donated medical supplies worth N35 million to 16 host communities in the Wamakko Local Government Area of Sokoto State. During the official handover ceremony on Tuesday, BUA Cement’s Managing Director and Chief Executive Officer, Yusuf Binji, represented by the Director of Administration and Corporate Services, Sada Suleiman, stressed the company’s commitment to ensuring hospitals and…

MTN applies 50% tariff hike, updates data prices MTN applies 50% tariff hike, updates data prices MTN, Nigeria’s largest telecom operator, has started the implementation of a 50 per cent tariff increase approved by the Nigerian Communications Commission in January. This adjustment, which is evident in the updated prices of data plans, leaves call and SMS rates unaffected for the time being. A senior executive from MTN, who doesn’t want to be mentioned, confirmed the development in a conversation with our correspondent on Tuesday. “Yes, we’ve started updating our price lists. “However, this process is gradual, and we haven’t completed…

NACA urges Nigerians to play safe at Valentine to prevent HIV Dr Temitope Ilori NACA urges Nigerians to play safe at Valentine to prevent HIV • Advised to know your status and engage in regular examination. • Prevent HIV through safe tools available. As Valentine’s Day approaches, the National Agency for the Control of AIDS on Tuesday urged Nigerians to prioritise safety and responsibility to prevent the spread of HIV and other sexually transmitted infections. A statement released by Toyin Aderibigbe, NACA media unit, quoting the Director General of the agency, Dr Temitope Ilori, urged Nigerians to make informed decisions…

Commitment to Creativity, Innovation essential for economic development — Suwaiba The Minister of State for Education, Prof. Suwaiba Ahmad Commitment to Creativity, Innovation essential for economic development — Suwaiba The Minister of State for Education, Prof. Suwaiba Ahmad, on Tuesday, noted the importance of creativity and innovation in driving Nigeria’s economic development. During the 2025 National Exhibition of Creativity and Innovation, Ahmad pointed out that the world is evolving rapidly, and it is imperative for Nigeria to foster a culture of innovation, entrepreneurship, and technical excellence among its youth. Suwaiba who was represented by the ministry director of colleges of…

FG to meet US over visa drop box removal US visa FG to meet US over visa drop box removal. The Federal Government of Nigeria has pledged to take diplomatic action and engage with relevant authorities to address the suspension of the drop box service for Nigerians renewing their US visas. The Chairman of the House of Representatives Committee on Foreign Affairs, Oluwole Oke, revealed this when he featured on Channels Television’s Sunrise Daily programme on Tuesday. “I am in the US. I will take this matter up. After finishing my meeting in New York, I will also be in…

FG, through raw materials information system, targets $30bn investment Minister of Innovation, Science, and Technology, Mr Uche Nnaji • Platform to empower manufacturers with reliable data sourcing. • Reduce import reliance and boosting domestic production. • Investors will be drawn to Nigeria. The Federal Government has launched the Nigeria Raw Materials Management Information System, a digital platform designed to enhance industrialisation, attract investment, and optimise the country’s raw material resources. The initiative, spearheaded by the Raw Materials Research and Development Council, is expected to bring in $30bn in investments over the next decade through efficient resource management. Speaking at the…

CBN: No more free ATM withdrawals from other banks’ customers File copy CBN has said there will be no more free ATM withdrawals from other banks’ customers. The Central Bank of Nigeria has eliminated the three free monthly withdrawals once allowed for customers using other banks’ ATMs. According to a circular dated February 10, 2025, the apex bank directed all banks and financial institutions to implement new ATM withdrawal charges from March 1, 2025. This means customers will now pay for every withdrawal made from another bank’s ATM. The review affects the charges prescribed in Section 10.7 of the CBN…

Bishop Isaac Idahosa Becomes Kwankwasiyya Media National Leader Bishop Isaac Idahosa Becomes Kwankwasiyya Media National Leader The Kwankwasiyya Media Forum has announced the appointment of Bishop Isaac Idahosa from Lagos State as its new National Leader. The official announcement was delivered by Aliyu AK Balarabe, the National Organizing Secretary of the Kwankwasiyya Media Forum, on Sunday, February 9, during a 60th birthday Thanksgiving and Dinner held in honour of Bishop Isaac Idahosa. In a letter signed by Dr. Muntasir Umar, the National Chairman of the forum, Bishop Idahosa’s appointment was attributed to his “exemplary leadership qualities, unwavering dedication, and…

NNPCL lowers petrol pump price, now a litre costs N945 in Lagos NNPCL lowers petrol pump price, now a litre costs N945 in Lagos Retail outlets owned by the Nigerian National Petroleum Company Limited, NNPC Ltd, have effected a downward adjustment in the pump price of the Premium Motor Spirit, also known as petrol, from N960 per litre to N945 per litre in Lagos State. Reports said that NNPC Ltd’s filling stations have adjusted their pumps to reflect the new price template effected nationwide on Tuesday, February 11, 2025. Meanwhile, fuel price in Nigeria today varies according to region. For…