That new tax law might finally plug Nigeria's oil money leaks. Energy expert Ken Ife explained the sweeping reforms. The Nigeria Tax Act took effect at the start of this year. It merges old laws like the Petroleum Profits Tax Act. The act also fully integrates the Petroleum Industry Act.
Ife says this unified code ends a fragmented fiscal regime. The goal is better transparency and investor confidence. Upstream companies face a split tax structure. A Hydrocarbon Tax applies to crude oil production profits. Companies' Income Tax covers general corporate earnings.
The hydrocarbon rate stays between fifteen and thirty percent. The standard CIT for big firms is currently thirty percent. It is planned to drop to twenty-five percent in the...
IPMAN is telling its members to match Dangote's new price. The association's president, Abubakar Maigandi, made the appeal. He wants dealers getting direct refinery delivery to sell at seven hundred thirty-nine naira per liter. Dangote Refinery dropped its rate to that level nationwide last month nationwide.
The refinery bought thousands of CNG tankers for free delivery. This service is for partnered stations. Currently, only MRS outlets are actually selling at the set price. Other partners have not received the promised free truck deliveries yet. They are still waiting for those shipments from the refinery.
Maigandi stated marketers remain confused about new tax reforms. They do not understand how the changes will affect their sales...
PTAD dropped nearly fifty-six billion naira on pension payments last month. The December payout covered monthly pensions and long-overdue arrears. This Defined Benefits Scheme disbursement went to retirees and deceased workers' families. Over thirteen billion covered regular monthly pension checks across all departments.
Another forty two billion plus settled various pension arrears. These back payments included a specific thirty-two thousand naira increment. They also covered percentage increases of ten point sixty six and twelve point ninety five. Additional owed gratuity and death benefits were part of the total.
Payments broke down across several pension departments. The Police Pension Department sent funds to five pensioners...
A court just froze over thirty million naira linked to NNPC fraud. The Economic and Financial Crimes Commission secured the interim forfeiture order. Justice Emeka Nwite of the Abuja Federal High Court granted the request. The EFCC lawyer Emenike Mgbemele moved the ex parte application last Friday.
The judge found the application meritorious based on evidence. He ordered the EFCC to publish the forfeiture notice in a newspaper. Interested persons then have fourteen days to contest the seizure. The judge set a date for the commission to report its compliance. The funds sit in a recovery account at United Bank for Africa.
Investigators discovered the money probing NNPC officials. A Bureau de Change operator named Adamu Yakubu became...
FirstBank just cleared a huge financial hurdle ahead of schedule. The bank met the central bank's capital requirement of five hundred billion naira. Its parent company, First HoldCo, announced the milestone. They completed a Rights Issue and a Private Placement. Funds from selling a merchant banking subsidiary also helped.
This move shows strong investor trust in the group's strategy. The fortified capital base lets FirstBank boost real sector support. It can also push financial inclusion and digital customer services. The recapitalization strengthens the whole group's financial resilience. It creates a platform for earnings growth and new opportunities.
The Central Bank of Nigeria had set this capital target. Banks were given a...
A Nigerian oil security firm just bought some serious drone tech. Tantita Security Services ordered three advanced unmanned aircraft from Textron Systems. The deal, signed late last year, involves Aerosonde Mk. 4.7 drones. These are vertical takeoff and landing systems. The configuration is fully ITAR-free for easier international export.
These aircraft will boost surveillance over vital oil infrastructure. The contract includes possible training and extra units later. This builds on a prior Foreign Military Sale to Nigeria. The VTOL drones use Hybrid Quadrotor technology. They need no runway, which is key for remote operations.
David Phillips from Textron praised the system's reliability. He called it a mature and proven autonomous...
Itel mashed up tech with a Pantone color of the year. The brand partnered with Pantone for a special collection. They used the color Cloud Dancer for 2026. The bright white shade represents freshness and energy. Itel Nigeria's PR head, Simeon Shagba, announced the collaboration.
This limited line targets Nigeria's tech lifestyle space. The products include itel Buds 5 earbuds with noise cancellation. They offer thirty two hours of playback for commutes. The MagSnap 10C power bank has magnetic snap charging. Its design is sleek and portable for easy use.
Also featured is the Classic 2 Pro Hair Clipper. It provides professional grooming with precision engineering. The collection merges Pantone's aesthetic with functional tech. Shagba...
This gospel concert united believers worldwide with a massive drone show. The Celestial Chorus Soirée held its third event on New Year's Eve. It happened at the Harare International Conference Centre. Gospel musician Everton Mlalazi created the program. This edition focused on Seventh-day Adventist hymns.
Performers and guests came from many nations. The audience included government officials and diplomats. International attendance featured people from the United States and Italy. Visitors also arrived from Australia, Nigeria, and Zambia. Other countries, like Uganda and South Africa, were represented.
President Emmerson Mnangagwa gave a televised address. He praised the SDA Church for aiding national development. He mentioned their...
Forget paper dictionaries, this professor is hacking language learning. Herbert Mushangwe, also called Li Kaiming, is teaching Chinese people how to speak Shona using tech. He started in Chivi, Zimbabwe, then studied linguistics in China. His work now focuses on bridging the gap between the two cultures.
He specializes in Chinese and applied linguistics. A key project uses voice recognition software for pronunciation. The research helps students overcome speaking barriers in foreign languages. Mushangwe thinks language builds stronger ties between Zimbabwe and China. He says real cooperation needs understanding beyond simple trade deals.
The academic published a groundbreaking Shona-Chinese dictionary. It was the first resource of its...
