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FCTA Sets Up Task Force On C Of O Issuance

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The FCT Minister, Nyesom Wike, has inaugurated a task force on the issuance of Certificate of Occupancy (C of O) for mass housing and the recovery of land use contravention fees.

Inaugurating the task force on Tuesday, the minister said the action was to ensure that each of the houses in mass housing estates has its own C of O and pay for it.
He lamented that virtually all residential areas have been turned to commercial, adding that something must be done about it.
He said that those who contravened the Land Use Act must be recertified and pay penalties.
He explained that those given approval for residential buildings have converted to commercial structures, while those given for commercial also contravene by building residential houses.
The minister said that government agencies in charge of land administration in the FCT were part of the problem, adding that the agencies were included in the task force to solve the problem they created.
He said: “Part of the problem we are having is the agencies: development control is part of the problem; the land registry is part of the problem; Abuja Geographic Information System AGIS is part of the problem.
“That is why they are part of the task force to face the problem they have caused and solve the problem. No outsider will do it.
“So, you must be diligent. Of course, you know, I will monitor what you are doing, and this assignment will not last more than one month from today.
“Whatever fund you require, let us know, Zenith bank will provide you the fund, but I must approve the fund.
“You write to me, and I will tell Zenith Bank what I need,” the minister said.
He asked the task force to open two dedicated bank accounts for the assignment: one for non-compliance with the land use act and the other for the C of O.
He also asked the task force to include people who were given land by the Area Councils but without C of O, adding that those concerned should be asked to apply and be informed about the amount to pay.
Wike explained that Abuja depends on Internally Generated Revenue to execute projects in the FCT.
“I am not interested in who did not comply and I don’t want anybody to write to me that the task force came. All I need is results. I don’t want excuses,” he added.
 Mr Michael Chinda, Senior Special Assistant to Wike on lands, urban and regional planning will serve as the chairman of the task force, while the Executive Secretary, Federal Capital Development Authority, Mr Shehu Ahmad would serve as the secretary.
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NNPC, Dangote Refinery Negotiating New Naira-For-Crude Deal

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The Nigerian National Petroleum Company (NNPC) Limited says negotiation is ongoing for a new naira-for-crude deal with Dangote Petroleum Refinery.

NNPC announced in a statement on Monday after TheCable reported earlier that the government-owned oil company had reportedly suspended the naira-for-crude deal until 2030, as it has forward-sold all its crude oil.

The discontinuation will force refiners to rely on international suppliers for crude oil, gulping huge costs in dollars and triggering an uptick in the pump price of petrol.

However, Olufemi Soneye, the chief corporate communications officer of NNPC, said the current deal will expire at the end of March.

“NNPC Limited has noted recent reports circulating on social media regarding the alleged unilateral termination of the crude oil sales agreement in Naira between NNPC and Dangote Refinery,” Soneye said.

“To clarify, the contract for the sale of crude oil in Naira was structured as a six-month agreement, subject to availability, and expires at the end of March 2025. Discussions are currently ongoing towards emplacing a new contract.”

Under the current arrangement, Soneye said NNPC has made over 48 million barrels of crude oil available to Dangote refinery since October 2024.

“In aggregate, NNPC has made over 84 million barrels of crude oil available to the Refinery since its commencement of operations in 2023,” he said.

“NNPC Limited remains committed to supplying crude oil for local refining based on mutually agreed terms and conditions.”

The sale of crude oil and refined petroleum products in naira to local refineries commenced on October 1, 2024, to improve supply, save the country millions of dollars in petroleum products imports, and ultimately reduce pump prices.

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Uba Sani Introduces New Policies For Kaduna Scholarship Board

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Uba Sani, governor of Kaduna, has introduced policies at the state scholarship and loans board to enable students from less-privileged backgrounds to obtain sponsorships with ease.

Yahya Saleh Ibrahim, executive secretary of the board, announced the policies on Sunday while speaking to journalists.

He said the governor has ordered the removal of tax clearance as a requirement for accessing scholarship.

Ibrahim also said although the writing of essays is still a requirement to access scholarship, it is however done “to determine areas of students’ weakness that require support”.

He said Sani has also created seven scholarship awards zonal units to make it easier for students in rural areas to be screened, easing the burden of coming to the board’s headquarters in Kaduna.

The units are Zaria, Kafanchan, Kachia, Pambegua, Makarfi, Kaduna-north and Kaduna south zones.

He said the governor has provided 30 computers to the various units to simplify the application process.

He also said the board now conducts on-the-spot scholarships for indigenous citizens across tertiary institutions, adding that this effort has “enlisted over 4330 potential beneficiaries awaiting disbursement”.

“A total of 3,397 students have been awarded local scholarships from May 2023 to date. Thirty students have benefitted from the third-party tertiary education loans,” he said.

“The board has also secured 50 scholarships for secondary school students, in collaboration with the ministry of education, for indigent students from the Indomie Noodles DOFIL Company Kaduna.

“The inclusion of government special scholarship intervention programs for innovation, aviation, meritorious, underprivileged, and People with Special needs (PLWD) students, in the state is in the heart of His Excellency’s agenda.”

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Nigeria Recorded N3.4trn Trade Surplus In Q4 2024, Says NBS

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The National Bureau of Statistics (NBS) says Nigeria recorded N3.42 trillion trade surplus in the fourth quarter (Q4) of 2024.

The NBS, in its foreign trade report for Q4 2024, said Nigeria’s exports totalled N20.01 trillion while imports stood at N16.59 trillion.

A trade surplus is an economic indicator of a positive trade balance in which the exports of a nation outweigh its imports.

The bureau said total trade was N36.6 trillion in Q4, representing an increase of 2.20 percent compared to the N35.8 trillion recorded in the third quarter (Q1) of the year.

“Nigeria’s total merchandise trade stood at N36,604.83 billion in Q4, 2024. This represents an increase of 68.32% compared to the value (N21,747.40) recorded in the corresponding period of 2023 and a rise of 2.20% over the value recorded in the preceding quarter (N35,818.35),” NBS said.

“In the quarter under review, exports accounted for 54.68% of total trade with a value of N20,014.33 billion, showing an increase of 57.67% rise over the value recorded in the fourth quarter of 2023 (N12,693.62) and a decrease of 2.55% compared to the value recorded in Q3 2024 (N20,537.17).”

NBS further said crude oil continued to dominate exports trade in the quarter reviewed.

The statistics firm said crude oil exports stood at N13.78 trillion, representing 68.87 percent of total exports, while the value of non-crude oil exports stood at N6.23 trillion, accounting for 31.13 percent of total exports.

NBS added that non-oil products contributed N2.84 trillion or 4.20 percent of total exports.

The NBS said the Netherlands was Nigeria’s top export destination in Q4, followed by Spain, France, India, and Indonesia.

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“The main export destination was The Netherlands with a value of N 2,089.96 billion or 10.44% of total exports, followed by exports to France with N1,909.76 billion or 9.54% of total exports, Spain with N1,737.68 billion or 8.68% of total export,” NBS said.

“India with N1,596.66 billion or 7.98% of total exports, and exports to Indonesia with goods valued at N1,406.77 billion representing 7.03% of total exports.

“These five countries collectively accounted for 43.67% of the value of total exports in Q4, 2024.”

In terms of imports, the bureau said China remained Nigeria’s major trading partner, with 27.80 percent (N4 61 trillion) worth of imported goods.

Others on the top five import routes were India (N1.89 trillion or 11.43 percent), Belgium (N1.38 trillion or 8.35 percent), the United States (N1.05 billion or 6.33 percent), and France ( N501 billion or 3.62 percent).

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