Trending News: POWER VACUUM: PRESIDENT, VICE PRESIDENT OUT OF NIGERIATINUBU GOVT PLANS N25% TAX ON WEALTHY NIGERIANS EARNING N100M MONTHLYIT’S FAKE NEWS, THERE’S NO PLOT TO IMPEACH ME – AKPABIOPOLICE CLARIFY ROLE IN RIVERS LG ELECTIONWIKE MAY FACE DISCIPLINARY ACTION FOR VIOLATING PDP RULESNAIRA ONE OF THE WORST PERFORMING CURRENCIES IN AFRICA – WORLD BANKNIGERIA’S CHIEF OF ARMY STAFF, LAGBAJA , SICK, FLOWN ABROAD FOR TREATMENT – SAHARAREPORTERSWORLD BANK TELLS TINUBU GOVT TO CONTINUE WITH ECONOMIC POLICY DESPITE RISING HARDSHIPTRAVELLERS HAIL PETER OBI, CALL HIM “OUR PRESIDENT” AS HE CLEARS TRAFFIC IN KOGICONSTITUENTS MOVE TO RECALL HOUSE OF REPS MEMBER, UGOCHINYERE, LAUD GOV UZODINMADAMAGUM MAY STEP DOWN NEXT WEEKPDP CRISIS RESOLVED WITH SUSPENSIONS, COUNTER SUSPENSION QUASHEDSOLUDO REJECTS LG AUTONOMY, SAYS IT WILL LEAD TO CHAOS, SIGNS BILL TO DEDUCT COUNCIL FUNDSWHY WE INVADED RADIO STATION TO ARREST SUSPECT – EFCCNUJ CONDEMNS EFCC INVASION OF RADIO STATIONENUGU GOVT TO LAUGH N20B STATE SECURITY TRUST FUNDGRID COLLAPSE, A NATIONAL SHAME, TESTAMENT OF LEADERSHIP FAILURE – PETER OBIPRO-WIKE LAWMAKERS DECLARE PRO-FUBARA LAWMAKERS’ SEATS VACANTFG SUMMONS BRITISH HIGH COMMISSIONER OVER SUNDAY IGBOHO’S YORUBA NATION PETITION TO PRIME MINISTERAFCON QUALIFIER: CAF DELISTS NIGERIA, LIBYAEFCC INVADES RADIO STATION IN ENUGU, ARRESTS PRESENTERPDP CRISIS: GOVERNORS TELL WARRING MEMBERS TO MAINTAIN STATUS QUODAMAGUM DIVIDES PDP GOVERNORSPDP BREAKS INTO FACTIONSWE SYMPATHISE WITH THE POOR BUT TINUBU’S POLICIES WILL CONTINUE – VP SHETTIMANORTH MUST BE PREPARED FOR POSSIBLE SEPARATION – PROF LUGGACAF INVESTIGATES SUPER EAGLES ORDEAL IN LIBYANIGERIA WAS NOT HUMILIATED AT UNHRC ELECTION – PRESIDENCYNIGERIA IN DARKNESS AS NATIONAL GRID COLLAPSES AGAINMOB BURNS EDO POLICE STATION OVER ALLEGATION OF ORGAN HARVESTINGSUPER EAGLES BACK TO NIGERIA AFTER LIBYA ORDEALFG TO RECRUIT 74,OOO TEACHERS NATIONWIDENIGERIANS GROAN OVER HIGH ELECTRICITY BILLSFG MOVES TO GROUND 60 PRIVATE JETSALLOW THE DEAD TO REST IN PEACE, SHEHU SANI SPEAKS ON ENUGU MORTUARY TAXPDP BLASTS FUBARA, SAYS HE REJECTED OFFER TO CONTROL PARTY STRUCTUREPETER OBI CONDEMNS FATAL SHOOTING OF SUPERSPORTS CREW, SAYS KILLINGS KIDNAPPINGS HAVE BECOME WORSENASS WANTS MORE SUFFERINGS FOR NIGERIANS, CONSIDERS BILL TO INCREASE VAT FROM 7.5% TO 10%ENUGU GOVT PLANS TO RESETTLE RESIDENTS OF TWO URBAN SLUMSBIZZARE! REVEREND FATHER SET TO WED REVEREND SISTER IN CATHOLIC CHURCHSENATE THREATENS UMAHI, DABRI-EREWA, OTHERS WITH WARRANT OF ARRESTGOVERNOR SUSPENDS AID FOR ANNOYING N70,OOO MINIMUM WAGENINE PDP GOVERNORS ENDORSE DAMAGUM’S REMOVAL AS NATIONAL CHAIRMANBETWEEN SENATOR SHEHU SANI AND EX-GOV EL RUFAI’S WIFEYOU’RE BEREFT OF IDEAS ABOUT HOW TO TACKLE ECONOMIC CRISIS, BEG JONATHAN FOR HELP – NNPP TELLS TINUBUWHY MORTUARY TAX WAS INTRODUCED – ENUGU GOVTNIGERIA FACING WORSENING FOOD CRISIS LIKE YEMEN, ETHIOPIA – WORLD BANK REPORTFLASHBACK: HOW TINUBU CRITICISED JONATHAN OVER PETROL SUBSIDY REMOVALINSIDE STORY OF ONGOING CRISIS IN PDPHOUSE OF REPS PASSES BILL TO ESTABLISH BOLA AHMED TINUBU UNIVERSITY OF NIGERIAN LANGUAGESRIVERS CRISIS: I DO NOT SEE THE POSSIBILITY OF APPEAL COURT JUDGEMENT BEING UPTURNED – SANFOR AND AGAINST REGIONAL GOVTDRAMA AS FAYOSE DECLARES SELF PDP NATIONAL CHAIRMAN, SUSPENDS WIKE, ATIKU, OTHERSENUGU GOVT WITHDRAWS MONARCH’S RECOGNITION OVER LAWYER’S MURDERFCT MINISTER, NYESON WIKE, BAUCHI GOVERNOR, BALA MOHAMMED, DIVIDE PDPNEW EDUCATION CURRICULUM: EVERY STUDENT MUST GRADUATE WITH TWO SKILLSFUBARA’S REFUSAL TO OBEY COURT JUDGEMENT CAUSE OF RIVERS VIOLENCE – INDEPENDENT OBSERVERSPDP CRISIS: GOVERNORS BACK EMBATTLED NATIONAL CHAIRMAN, DAMAGUNAPC BERATES ROTIMI AMAECHI, SAYS HE’S INVITING ANARCHY IN NIGERIASOWORE, FORMER PRESIDENTIAL CANDIDATE, BARRED FROM LEAVING NIGERIA BY IMMIGRATION SERVICEAPC SUSPENDS TINUBU’S MINISTER, OTHERSCOURT BARS PDP NEC, BOT FROM SACKING DAMAGUM AS ACTING NATIONAL CHAIRMANFG ANNOUNCES FULL DEREGULATION OF PETROLEUM INDUSTRYCHIEF JUDGE REJECTS NYAKO’S RECUSAL FROM NNAMDI KANU’S CASE, RETURNS CASE FILEMY HUSBAND NOT CAUSE OF NIGERIA’S PROBLEM – TINUBU’S WIFERECENT LOCAL GOVT ELECTIONS IN STATES ACROSS NIGERIA, A SHAM, RAPE OF DEMOCRACY – SENATECHIDINMA ADETSHINA NAMED ENUGU STATE BRAND AMBASSADORPDP CRISIS WORSENS AS FACTIONS SUSPEND EACH OTHERNCC COMPLETES NIN-SIM LINKAGE FOR ALL PHONE NUMBERSWHY I PREFER TRADITIONAL WORSHIP TO CHRISTIANITY, ISLAM – SOYINKAWTO SELECTS UNN, OTHERS FOR TRADE RESEARCH PROGRAMMEYOU DON’T HAVE CAPACITY TO BRING DOWN MILITARY AIRCRAFT – DHQ TELLS DOKUBONO FOOD FOR LAZY MAN – TINUBU’S WIFE TELLS NIGERIAN YOUTHS TO WORK HARDFUBARA ASKS LAWYERS TO APPEAL COURT JUDGEMENT AFFIRMING WIKE’S LOYALIST AS ASSEMBLY SPEAKER2024 RIVERS BUDGET A NULLITY – APPEAL COURTFUBARA LOSES AS APPEAL COURT AFFIRMS PRO-WIKE LAWMAKER AS AUTHENTIC SPEAKER OF RIVERS ASSEMBLYI SACRIFICED MY POLITICAL CAREER IN FINLAND FOR BIAFRA’S INDEPENDENCE – SIMON EKPANNAMDI KANU’S WIFE BEGS UK GOVT TO INTERVENE IN IPOB LEADER’S CASEFUEL PRICE HIKE: TINUBU LISTENED TO DANGOTE – IPMAN CHAIRROYAL FATHERS TO FG: WE WANT DIRECT PAYMENT OF OUR 5% ALLOCATION13 EX-BOKO HARAM FIGHTERS ESCAPE WITH GOVT RIFLES, MOTORCYCLESHOUSE OF REPS BEGINS MOVE TO PROBE BUHARI GOVTRIVERS, CAPITAL OF BETRAYALS, MOST POLITICIANS PASSED THROUGH ME – AMAECHINIGERIAN LAMENT FRESH FUEL INCREASEHOW NIGERIANS HAVE ENDURED PETROL PRICE HIKE FOR 18 MONTHS – FROM N198 TO N1,030/LITREWHY NNPC INCREASED FUEL PUMP PRICE – MARKETERSREVERSE PETROL PUMP PRICE IMMEDIATELY – NLC TELLS FEDERAL GOVTAGAIN, NNPC INCREASES FUEL PUMP PRICE TO N1,030/LITRESEEK PERMISSION BEFORE USING THE NATIONAL ANTHEM – FGCONFUSION IN SENATE OVER LOCAL GOVT AUTONOMYNIGERIAN ARMY GENERAL DETAINED FOR STEALING RICE PALLIATIVESOUTH KOREAN INVESTORS TO BUILD FOUR REFINERS IN NIGERIADOZENS KILLED, OTHERS INJURED AS SOLDIERS CLASH WITH GUNMEN IN IMOAPPEAL COURT SACKS PDP REPS MEMBER, ATIGWE, DECLARES LP CANDIDATE, AGBO WINNERCONCERNED IGBO CLERICS ACCUSE SOUTH EAST GOVS OF FRUSTRATING NNAMDI KANU’S RELEASEMIXED REACTIONS TRAIL CONFLICTING COURT ORDERS IN RIVERSPETER OBI, LP CARETAKER COMMITTEE REJECT COURT JUDGEMENT ON ABUREOUR REFINERY WAS BUILT WITHOUT GOVT INCENTIVE – DANGOTEPDP LEADERS CLASH OVER ATIKU, WIKEI’VE NO APOLOGY WORKING AGAINST PDP IN 2023 – WIKE
Thu. Oct 17th, 2024
Trending News: POWER VACUUM: PRESIDENT, VICE PRESIDENT OUT OF NIGERIATINUBU GOVT PLANS N25% TAX ON WEALTHY NIGERIANS EARNING N100M MONTHLYIT’S FAKE NEWS, THERE’S NO PLOT TO IMPEACH ME – AKPABIOPOLICE CLARIFY ROLE IN RIVERS LG ELECTIONWIKE MAY FACE DISCIPLINARY ACTION FOR VIOLATING PDP RULESNAIRA ONE OF THE WORST PERFORMING CURRENCIES IN AFRICA – WORLD BANKNIGERIA’S CHIEF OF ARMY STAFF, LAGBAJA , SICK, FLOWN ABROAD FOR TREATMENT – SAHARAREPORTERSWORLD BANK TELLS TINUBU GOVT TO CONTINUE WITH ECONOMIC POLICY DESPITE RISING HARDSHIPTRAVELLERS HAIL PETER OBI, CALL HIM “OUR PRESIDENT” AS HE CLEARS TRAFFIC IN KOGICONSTITUENTS MOVE TO RECALL HOUSE OF REPS MEMBER, UGOCHINYERE, LAUD GOV UZODINMADAMAGUM MAY STEP DOWN NEXT WEEKPDP CRISIS RESOLVED WITH SUSPENSIONS, COUNTER SUSPENSION QUASHEDSOLUDO REJECTS LG AUTONOMY, SAYS IT WILL LEAD TO CHAOS, SIGNS BILL TO DEDUCT COUNCIL FUNDSWHY WE INVADED RADIO STATION TO ARREST SUSPECT – EFCCNUJ CONDEMNS EFCC INVASION OF RADIO STATIONENUGU GOVT TO LAUGH N20B STATE SECURITY TRUST FUNDGRID COLLAPSE, A NATIONAL SHAME, TESTAMENT OF LEADERSHIP FAILURE – PETER OBIPRO-WIKE LAWMAKERS DECLARE PRO-FUBARA LAWMAKERS’ SEATS VACANTFG SUMMONS BRITISH HIGH COMMISSIONER OVER SUNDAY IGBOHO’S YORUBA NATION PETITION TO PRIME MINISTERAFCON QUALIFIER: CAF DELISTS NIGERIA, LIBYAEFCC INVADES RADIO STATION IN ENUGU, ARRESTS PRESENTERPDP CRISIS: GOVERNORS TELL WARRING MEMBERS TO MAINTAIN STATUS QUODAMAGUM DIVIDES PDP GOVERNORSPDP BREAKS INTO FACTIONSWE SYMPATHISE WITH THE POOR BUT TINUBU’S POLICIES WILL CONTINUE – VP SHETTIMANORTH MUST BE PREPARED FOR POSSIBLE SEPARATION – PROF LUGGACAF INVESTIGATES SUPER EAGLES ORDEAL IN LIBYANIGERIA WAS NOT HUMILIATED AT UNHRC ELECTION – PRESIDENCYNIGERIA IN DARKNESS AS NATIONAL GRID COLLAPSES AGAINMOB BURNS EDO POLICE STATION OVER ALLEGATION OF ORGAN HARVESTINGSUPER EAGLES BACK TO NIGERIA AFTER LIBYA ORDEALFG TO RECRUIT 74,OOO TEACHERS NATIONWIDENIGERIANS GROAN OVER HIGH ELECTRICITY BILLSFG MOVES TO GROUND 60 PRIVATE JETSALLOW THE DEAD TO REST IN PEACE, SHEHU SANI SPEAKS ON ENUGU MORTUARY TAXPDP BLASTS FUBARA, SAYS HE REJECTED OFFER TO CONTROL PARTY STRUCTUREPETER OBI CONDEMNS FATAL SHOOTING OF SUPERSPORTS CREW, SAYS KILLINGS KIDNAPPINGS HAVE BECOME WORSENASS WANTS MORE SUFFERINGS FOR NIGERIANS, CONSIDERS BILL TO INCREASE VAT FROM 7.5% TO 10%ENUGU GOVT PLANS TO RESETTLE RESIDENTS OF TWO URBAN SLUMSBIZZARE! REVEREND FATHER SET TO WED REVEREND SISTER IN CATHOLIC CHURCHSENATE THREATENS UMAHI, DABRI-EREWA, OTHERS WITH WARRANT OF ARRESTGOVERNOR SUSPENDS AID FOR ANNOYING N70,OOO MINIMUM WAGENINE PDP GOVERNORS ENDORSE DAMAGUM’S REMOVAL AS NATIONAL CHAIRMANBETWEEN SENATOR SHEHU SANI AND EX-GOV EL RUFAI’S WIFEYOU’RE BEREFT OF IDEAS ABOUT HOW TO TACKLE ECONOMIC CRISIS, BEG JONATHAN FOR HELP – NNPP TELLS TINUBUWHY MORTUARY TAX WAS INTRODUCED – ENUGU GOVTNIGERIA FACING WORSENING FOOD CRISIS LIKE YEMEN, ETHIOPIA – WORLD BANK REPORTFLASHBACK: HOW TINUBU CRITICISED JONATHAN OVER PETROL SUBSIDY REMOVALINSIDE STORY OF ONGOING CRISIS IN PDPHOUSE OF REPS PASSES BILL TO ESTABLISH BOLA AHMED TINUBU UNIVERSITY OF NIGERIAN LANGUAGESRIVERS CRISIS: I DO NOT SEE THE POSSIBILITY OF APPEAL COURT JUDGEMENT BEING UPTURNED – SANFOR AND AGAINST REGIONAL GOVTDRAMA AS FAYOSE DECLARES SELF PDP NATIONAL CHAIRMAN, SUSPENDS WIKE, ATIKU, OTHERSENUGU GOVT WITHDRAWS MONARCH’S RECOGNITION OVER LAWYER’S MURDERFCT MINISTER, NYESON WIKE, BAUCHI GOVERNOR, BALA MOHAMMED, DIVIDE PDPNEW EDUCATION CURRICULUM: EVERY STUDENT MUST GRADUATE WITH TWO SKILLSFUBARA’S REFUSAL TO OBEY COURT JUDGEMENT CAUSE OF RIVERS VIOLENCE – INDEPENDENT OBSERVERSPDP CRISIS: GOVERNORS BACK EMBATTLED NATIONAL CHAIRMAN, DAMAGUNAPC BERATES ROTIMI AMAECHI, SAYS HE’S INVITING ANARCHY IN NIGERIASOWORE, FORMER PRESIDENTIAL CANDIDATE, BARRED FROM LEAVING NIGERIA BY IMMIGRATION SERVICEAPC SUSPENDS TINUBU’S MINISTER, OTHERSCOURT BARS PDP NEC, BOT FROM SACKING DAMAGUM AS ACTING NATIONAL CHAIRMANFG ANNOUNCES FULL DEREGULATION OF PETROLEUM INDUSTRYCHIEF JUDGE REJECTS NYAKO’S RECUSAL FROM NNAMDI KANU’S CASE, RETURNS CASE FILEMY HUSBAND NOT CAUSE OF NIGERIA’S PROBLEM – TINUBU’S WIFERECENT LOCAL GOVT ELECTIONS IN STATES ACROSS NIGERIA, A SHAM, RAPE OF DEMOCRACY – SENATECHIDINMA ADETSHINA NAMED ENUGU STATE BRAND AMBASSADORPDP CRISIS WORSENS AS FACTIONS SUSPEND EACH OTHERNCC COMPLETES NIN-SIM LINKAGE FOR ALL PHONE NUMBERSWHY I PREFER TRADITIONAL WORSHIP TO CHRISTIANITY, ISLAM – SOYINKAWTO SELECTS UNN, OTHERS FOR TRADE RESEARCH PROGRAMMEYOU DON’T HAVE CAPACITY TO BRING DOWN MILITARY AIRCRAFT – DHQ TELLS DOKUBONO FOOD FOR LAZY MAN – TINUBU’S WIFE TELLS NIGERIAN YOUTHS TO WORK HARDFUBARA ASKS LAWYERS TO APPEAL COURT JUDGEMENT AFFIRMING WIKE’S LOYALIST AS ASSEMBLY SPEAKER2024 RIVERS BUDGET A NULLITY – APPEAL COURTFUBARA LOSES AS APPEAL COURT AFFIRMS PRO-WIKE LAWMAKER AS AUTHENTIC SPEAKER OF RIVERS ASSEMBLYI SACRIFICED MY POLITICAL CAREER IN FINLAND FOR BIAFRA’S INDEPENDENCE – SIMON EKPANNAMDI KANU’S WIFE BEGS UK GOVT TO INTERVENE IN IPOB LEADER’S CASEFUEL PRICE HIKE: TINUBU LISTENED TO DANGOTE – IPMAN CHAIRROYAL FATHERS TO FG: WE WANT DIRECT PAYMENT OF OUR 5% ALLOCATION13 EX-BOKO HARAM FIGHTERS ESCAPE WITH GOVT RIFLES, MOTORCYCLESHOUSE OF REPS BEGINS MOVE TO PROBE BUHARI GOVTRIVERS, CAPITAL OF BETRAYALS, MOST POLITICIANS PASSED THROUGH ME – AMAECHINIGERIAN LAMENT FRESH FUEL INCREASEHOW NIGERIANS HAVE ENDURED PETROL PRICE HIKE FOR 18 MONTHS – FROM N198 TO N1,030/LITREWHY NNPC INCREASED FUEL PUMP PRICE – MARKETERSREVERSE PETROL PUMP PRICE IMMEDIATELY – NLC TELLS FEDERAL GOVTAGAIN, NNPC INCREASES FUEL PUMP PRICE TO N1,030/LITRESEEK PERMISSION BEFORE USING THE NATIONAL ANTHEM – FGCONFUSION IN SENATE OVER LOCAL GOVT AUTONOMYNIGERIAN ARMY GENERAL DETAINED FOR STEALING RICE PALLIATIVESOUTH KOREAN INVESTORS TO BUILD FOUR REFINERS IN NIGERIADOZENS KILLED, OTHERS INJURED AS SOLDIERS CLASH WITH GUNMEN IN IMOAPPEAL COURT SACKS PDP REPS MEMBER, ATIGWE, DECLARES LP CANDIDATE, AGBO WINNERCONCERNED IGBO CLERICS ACCUSE SOUTH EAST GOVS OF FRUSTRATING NNAMDI KANU’S RELEASEMIXED REACTIONS TRAIL CONFLICTING COURT ORDERS IN RIVERSPETER OBI, LP CARETAKER COMMITTEE REJECT COURT JUDGEMENT ON ABUREOUR REFINERY WAS BUILT WITHOUT GOVT INCENTIVE – DANGOTEPDP LEADERS CLASH OVER ATIKU, WIKEI’VE NO APOLOGY WORKING AGAINST PDP IN 2023 – WIKE
Thu. Oct 17th, 2024

TINUBU GOVT PLANS N25% TAX ON WEALTHY NIGERIANS EARNING N100M MONTHLY

download 2 7

TINUBU GOVT PLANS 25% TAX ON WEALTHY NIGERIANS EARNING N100M MONTHLY

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said that 90 percent of those paying tax are those who should not be paying in the first place.

He made this declaration at the 30th Nigeria Economic Summit organised by the Nigerian Economic Summit Group and the Ministry of Budget and National Planning on Monday in Abuja.

“People will pay tax once we decide that they have to pay. What we realise is that almost 90 per cent of people who are paying taxes are those who should not have been paying in the first place,”

According to him 97 percent of those in the informal sector should be formally exempted from tax.

“So that’s where we came up with the data that 97 per cent of the informal sector should be formally exempted from taxes. People do not understand where we are coming from. They’re not the ones to pay taxes. They’re just trying to survive.”

He further revealed the plan of the government to tax wealthy Nigerians more.

“Wealthy Nigerians earning N100million and above monthly will face a 25 per cent personal income tax rate if a new tax bill is passed by the National Assembly.”

He stressed that there is a need to strike a balance by ensuring that wealthy Nigerians contribute more to the government’s revenue.

“If you earn N100m a month, we are taking up to 25 per cent from the rich people. That’s because we need to balance the books,” Oyedele noted.

For middle-income earners making N1.5m or less per month, Oyedele disclosed that their personal income tax obligations would decrease while those earning higher amounts would see incremental increases in their tax rates, eventually reaching 25 percent. Lower-income earners would be fully exempt from personal income tax.

There have been discussions about new tax policies by the government especially with moves to multiple taxation for businesses.

He added that the proposed changes are expected to take effect from January 2025, based on the passage of the bill by lawmakers.

    • Dons Eze

    DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

    Related Posts

    WTO SELECTS UNN, OTHERS FOR TRADE RESEARCH PROGRAMME

    WTO SELECTS UNN, OTHERS FOR TRADE RESEARCH PROGRAMME The World Trade Organisation (WTO) has expanded the WTO Chairs Programme to include five new academic institutions located in previously under-represented regions. The new beneficiary institutions includes the University of Nigeria, Nsukka, Nigeria. The others are Universidad Iberoamericana, Dominican Republic; Hamad Bin Khalifa University, Qatar; Université de Lomé, Togo; and National University of Vanuatu, Vanuatu. According to a statement sent to Financial Nigeria by the WTO, the objective of the addition of the five institutions is to improve diversity and inclusivity in the programme, with the aim of fostering further research on trade issues in developing and least-developed WTO members and observers. Following the addition of these five universities, the programme’s network comprises a total of 40 Chairs. This expansion is anticipated to strengthen the impact of regional and global initiatives within the network and to promote deeper collaboration and knowledge sharing among academics, policymakers, and trade experts. The five selected institutions will join the programme’s next four-year cycle, which is slated to begin in 2025. They will contribute to the programme’s research, curriculum development and outreach, and benefit from mentoring provided by other Chairs to ease their integration into the network. They will also engage in collaborative events, conferences, and seminars to extend the academic and practical impact of their work on trade policies at the national and international levels. The fourth cycle of the WTO Chairs Programme also marks a transition to a more frequent admission of institutions into the network to further the global reach and impact of the programme, WTO said. Greater synergies with the WTO’s other technical assistance activities are also anticipated. “This expansion builds on the WTO’s longstanding efforts to ensure that academic institutions play a crucial role in shaping trade policy and deepening the understanding of the multilateral trading system,” according to the statement. Funded by France, Austria, the Republic of Korea, and Australia, the WTO Chairs Programme has grown as it seeks to address current and emerging global trade challenges. “The selection of universities follows a rigorous review process of applications led by the WTO Chairs Programme Academic Advisory Board,” the statement concludes.

    Continue reading
    FUEL PRICE HIKE: TINUBU LISTENED TO DANGOTE – IPMAN CHAIR

    HIKE IN FUEL PRICE: TINUBU LISTENED TO DANGOTE – IPMAN CHAIR The National President of the Independent Marketers Association of Nigeria, Abubakar Garima, has revealed that the Nigerian National Petroleum Company Limited is currently asking oil marketers to buy petroleum products from its depot at N1,010 per litre in Lagos State. He stated that the price peg is significantly higher than what the oil company paid to purchase products from the Dangote Refinery. According to him, the company purchased the product from the refinery for between N800 and N900 but is asking marketers to sell it at N1,010 per litre in Lagos, N1,045 in Calabar, N1,050 in Port Harcourt, and N1,040 in Warri. Garima said this when he appeared on ChannelsTv Sunrise Daily on Thursday. Recall that on Wednesday, the retail stations of NNPC raised the price of petrol to N1,030 from N897/litre in Abuja, and in Lagos, it was hiked to N998/litre from N868/litre. Other locations witnessed similar price hikes, a development that triggered anger among Nigerians. The price hike, the second in one month, represents about 14.8 per cent or N133 rise. With the latest price adjustment, it means that in the less than 17 months of the current administration, the price of petrol has risen by over 430 per cent from May 29, when it took over the reins of power. Although Nigerians had expected cheaper fuel prices following the commencement of the naira for crude sales, the IPMAN chair attributed the recent adjustment in the price of fuel to the impacts of the deregulation of the sector. He said, “Well, we know now that we cannot call it an increase, but rather, we can call the removal of subsidy deregulation. Now, deregulation has started taking place fully. “But our major challenge now is that independent marketers have an outstanding debt from the NNPCL and the company collected products through Dangote at a lower rate which is not up to N900 but they are telling us now to buy this product from them at the price of N1,010 per litre in Lagos, N1,045 in Calabar, N1,050 in Port-Harcourt and N1,040 in Warri.” On why the marketers haven’t approached Dangote to get the product at the same price, Garima explained, “We have a problem with that because we have booked products through the NNPCL, and suddenly, when they decided to increase the price, they are now asking us to add more money to buy above what Dangote is selling to them. “We have informed them to return our money to our banks so that we can go directly to Dangote for our supply. Presently, our money is with them, for about three months. We buy our products from them before loading. NNPC doesn’t sell on credit and when products are available, they call us to pick them up. “But with the recent changes, we have requested that they sell to us at Dangote price or return our money. That’s the current situation and is the reason for the scarcity. We started negotiation yesterday. “Dangote is selling to them around N800 to N900 and we are asking that it should be sold at that same price. We can decide to sell at a lower price of N1,020 or N1,010. “We also refused to buy it because they bought it at a cheaper price from Dangote but want to sell it more expensive than the amount they currently sell at their stations. This is a great challenge because this will mean our price will be higher, and it also means they would have a profit of over N100 per litre.” He added, “Marketers want to be fully engaged in the business of petrol and its components. The NNPCL has been the one bringing…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    News

    POWER VACUUM: PRESIDENT, VICE PRESIDENT OUT OF NIGERIA
    Business

    TINUBU GOVT PLANS N25% TAX ON WEALTHY NIGERIANS EARNING N100M MONTHLY
    News

    IT’S FAKE NEWS, THERE’S NO PLOT TO IMPEACH ME – AKPABIO
    Politics

    POLICE CLARIFY ROLE IN RIVERS LG ELECTION
    Politics

    WIKE MAY FACE DISCIPLINARY ACTION FOR VIOLATING PDP RULES
    News

    NAIRA ONE OF THE WORST PERFORMING CURRENCIES IN AFRICA – WORLD BANK

    DISCLAIMER - TERMS AND CONDITIONS - PRIVACY POLICY