Kemi Adeosun

Revenue shared by Nigeria’s Federal, states and local governments slumped to N467.8 billion in August, N184.2 billion less than the N652 billion shared in July. Kemi Adeosun, minister of finance said the shared amount was inclusive of Value Added Tax (VAT) of N80.53 billion.

Fish Import Quota No Longer Sustainable

The Federal Government says it will stop issuing fish importation quota to importers, saying that the venture was no longer sustainable. The Minister of State for Agriculture and Rural Development, Sen. Heineken Lokpobiri, stated this during a meeting with the Ijebu Development Initiative on Poverty Reduction (IDIPR) in Abuja on Tuesday.

Nestle To Train Youths On Business Skills

Nestle Nigeria has restated its commitment to support young people by boosting youth entrepreneurship and inspiring the talented ones through providing training and job opportunities. The company’s Corporate Communications and Public Affairs Manager, Victoria Uwadoka, restated the commitment in a statement on Monday in Lagos, to uphold the organization's ideals as it celebrated this year’s International Youth Day on August 12.

The Federal Government has approved the release of N39 billion for Distribution Companies (DISCOs) to facilitate massive supply of electricity meters to power consumers across the country. The Minister of Power Works and Housing, Babatunde Raji Fashola made this known on Monday at the 18th Monthly Power Sector Stakeholders Meeting hosted by the Kano Electricity Distribution Company in Kano.

External Reserve Heading To 30-Month High Of $32bn

Nigeria’s external reserve is set to hit a 30-month high of $32 billion by the end of this month. Data from the Central Bank of Nigeria (CBN) showed that the external reserve rose to $31.55 billion on August 16, from $30.84 billion on July 31, representing an increase of $710 million in 16 days.

The Nigeria Customs Service, Ogun State Command, says it has intercepted 4,500 cartons of frozen poultry products with an estimated duty paid value of N21.6m smuggled into the State illegally. The Ogun Area Controller of Customs, Sani Magudu, who disclosed this on Monday at the command headquarters, said the frozen products were loaded in 10 vehicles.

Navy Intercepts Vessel, Arrests 7

A vessel said to be carrying 300 metric tonnes of illegally refined Automated Gas Oil (AGO) has been intercepted by the Nigerian Navy while seven members of the crew have been arrested.

Babatunde Fashola (SAN)

The Minister of Power, Works and Housing, Babatunde Fashola (SAN), on Monday stated that nothing in the Electricity Power Sector Reform Act gives electricity distribution companies (DisCos) the exclusivity of metering in the sector.

Fahsola

State governments across the country have reportedly been given the autonomy to produce their own power so as to ensure improved power supply in the country. The Minister of Power, Works and Housing, Babatunde Fashola, stated that nothing in the Electricity Power Sector Reforms Act (EPSRA) deter States from doing such.

Youths under the aegis of Mada Development Association (MDA) have called on the officials of Abuja Electricity Distribution Company (AEDC) to commence immediate installation of prepaid metre in Akwanga, Nasarawa state or stop sending bills to customers in the area.
Comrade Gyuni Umaru, the National President of the Youth Wing of the association issued the warning yesterday during the inauguration of newly elected officials.