Business
Accord Presidential Candidate Charges FG to Declare National Emergency On Economy
Accord Party presidential candidate, professor Chris Imumolen has urged president Mohammadu Buhari to declare a national emergency on Nigeria’s economy, following the scarcity of naira notes and petrol.
Imumolen who made the call on Thursday evening while addressing newsmen in Abuja noted that the naira redesign was a good policy but poorly implemented. He added that any policy that would affect the masses deserved to be recalled.
According to him, Nigeria was in double jeopardy for the failure of government in addressing the issues in the power sector which has made businesses crumble.
He, therefore, called on President Buhari to hear the cries of Nigerians and resolve the lingering issues so that Nigerians could prepare for the forthcoming general elections.
He said, “I have always said it that Nigeria’s Naira redesign policy is a good one, but it is a badly executed policy. It is a good one that we redesign our money to ensure that we curb corruption in the election but it is poorly executed.
“Any policy that will impose economic hardship on Nigerian people must be immediately reversed. The hardship on Nigerians which is our greatest concern is unbearable and it is not to be allowed. Innocent Nigerians are now bearing the brunt.
“We believe that a sincere government should rise up to this occasion and ensure that everything that needs to be done to salvage this situation is done so that Nigerians can have access to cash, access to PMS, and run their daily activities with hope of going for the election that comes up on the 25th.
“So in the light of this, I will appeal to the government to declare emergency in the economic sector, this means that every logistic manpower and government, will, and must now be mustard to tackle the current crisis and resolve it in the shortest possible time.”
He called on Nigerians to vote for him, promising that when he wins, things would change for the better.
Professor Imumolen further warned that any delay in responding to the “flammable” issues could result in an unmanageable and costly effect on Nigeria’s corporate existence.
He, therefore, begged Nigerians to remain peaceful.
“I believe Nigerians should focus on choosing the right person that will lead them towards the next generation. I have presented myself to Nigerians, I have told Nigerians what I can do, I have traversed all the local governments of this county, my executives and I, to tell Nigerians how I will represent them and present the alternative that Nigeria truly needs now as a country.
“Let us begin to use this opportunity to urge all citizens of our country to also be calm about this situation and I believe that in the coming days, government will rise up to the occasion to ensure that we have a saver economy, we have a safe place that would help us run our business better, ” he said.
African Development Bank (AfDB) has invested over $8 billion in water infrastructure across 40 African countries since 2000, benefiting more than 92 million people.
Director, Water Development and Sanitation Department, AfDB, Mr Johannes Chirwa, said this at the African Ministers’ Council on Water (AMCOW) West Africa sub-regional meeting in Abuja on Tuesday.
Chirwa was represented at the occasion by Emily Kilongi, AfDB Principal Water and Sanitation Engineer.
He said the meeting was an essential opportunity to review progress, overcome challenges, and develop future strategies for water management in Africa.
“Since 2000, the AfDB has invested over $8 billion in water infrastructure across 40 African countries, benefiting over 92 million people,” he said.
Chirwa revealed AfDB’s ongoing efforts in policy dialogue through platforms such as African Water Week and AfricaSan.
“Looking ahead, the Bank is actively involved in developing a post-2025 Africa Water Vision, contributing expertise to ensure a comprehensive and impactful strategy,” he said.
He reaffirmed the bank’s commitment to strengthening water governance through initiatives such as the Pan-African Water Sector Monitoring and Reporting System (WASSMO).
He also said the forthcoming Africa Water Vision and Policy, alongside the bank’s 2026-2030 Action Plan would play a key role in addressing emerging challenges.
Dr Jihane El Gaouzi, a representative of African Union Commission (AUC), said the impact of the Africa Water Vision 2025 in raising awareness of water and sanitation challenges was enormous.
“Africa still faces significant challenges in achieving equitable and sustainable water management.
“This is in spite progress from initiatives like the UN Water Conference 2023 and the Africa Water Investment Programme.
“The AUC is gathering stakeholder input for the post-2025 Africa Water Vision, focusing on poverty reduction, economic growth, regional cooperation, and environmental sustainability,” she said.
El Gaouzi outlined key upcoming events, to include the Africa Water Summit in August 2025 in South Africa and the UN Water Conference in 2026 to be co-hosted by the UAE and Senegal.
They aim to advance Africa’s water security agenda.
She said that water and sanitation have been designated as the AU’s official theme for 2026 under Agenda 2063.
She said: `The 5th Specialised Technical Committee and the 44th Executive Council of the AU urge the AUC to develop a climate-resilient, inclusive water security framework’.
El Gaouzi said Africa needed a continental governance framework to ensure sustainable and equitable water access and reaffirmed that access to water is a fundamental right.
She urged stronger collaboration among governments, the private sector, and regional organisations and reaffirmed AUC’s commitment to Africa’s post-2025 water vision through strategic planning and policy-driven investment.
Founded in 2002 AMCOW promotes cooperation, security, economic development, and poverty eradication through effective water resource management and supply services.
In 2008, at the 11th ordinary session of the African Union (AU) Assembly in Sharm el-Sheikh, Egypt, Heads of State and Government of the AU committed themselves to accelerating the achievement of water and sanitation goals in Africa.
AMCOW was mandated to develop and follow up an implementation strategy for these commitments. (NAN)
A federal high court has dismissed Nigerian National Petroleum Company (NNPC) Limited’s objection to its inclusion in a lawsuit brought by Dangote Petroleum Refinery over import licences issued to oil marketers.
According to a report by Reuters, Inyang Ekwo, the presiding judge, gave the ruling on Tuesday.
In an amendment, dated November 25, 2024, Dangote refinery had sought a single relief to correct the name of the second defendant in the lawsuit from ‘Nigeria National Petroleum Corporation Limited’ to ‘Nigeria National Petroleum Company Limited’.
Dangote refinery had filed a suit on September 6, 2024, marked FHC/ABJ/CS/1324/2024, against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and NNPC as first and second defendants.
The refiner had requested the court to nullify the import licences issued to NNPC, Matrix Petroleum Services Limited, A. A. Rano Limited, and four other oil companies.
Dangote refinery asked the court to rule that the NMDPRA violated Sections 317 (8) and (9) of the Petroleum Industry Act (PIA) by granting licences for petroleum product importation, adding that such licences should only be issued in circumstances where there is a petroleum product shortfall.
The refiner urged the court to declare that the NMDPRA is in violation of its statutory responsibilities under the PIA by not encouraging local refineries such as Dangote’s.
The publication said NNPC had objected to the suit that domestic consumption still surpasses the refinery’s production. Hence, imports remain necessary.
Also, NNPC argued that the Dangote refinery’s filing cited a non-existent company, Nigeria National Petroleum Corporation, as the national oil company had officially changed its name to Nigeria National Petroleum Company Limited in 2022 when it became a limited liability company.
However, in his ruling, Ekwo dismissed the objections.
The publication said the presiding judge adjourned the case to May 6 to consider the request by NMDPRA and NNPC to dismiss the suit due to a lack of merit and their counter-argument that the refinery is seeking to create a monopoly.
Dangote refinery seeks N100 billion in damages from NMDPRA, NNPC and five oil marketers.
By Abubakar Yunusa
The President of the Chartered Institute of Taxation of Nigeria (CITN), Barrister Samuel Agbeluyi, has emphasised the need for Nigeria’s tax system to evolve in line with the digital economy.
Speaking at the maiden ICT Summit on Taxation in Abuja on Monday, he called for a transition to smart, technology-driven frameworks to enhance revenue generation, curb leakages, and promote voluntary tax compliance.
The event, themed “Building Smart Tax Infrastructures for Economic Growth,” was organised in collaboration with the CISCO UNITE Academy.
Agbeluyi noted that technological advancements and shifting economic paradigms were redefining tax administration, making digital transformation imperative.
“When we speak of ‘Smart Tax Infrastructures,’ we refer to an integrated system where automation, data analytics, and digital platforms simplify tax collection, improve compliance, and enhance transparency while strengthening governance,” he said.
The CITN president stressed the importance of aligning tax administration with the ongoing reforms spearheaded by the Presidential Committee on Fiscal Policy and Tax Reforms.
“Our role as practitioners is to interpret these reforms and align our practices to support their strategic objectives. The CITN remains committed to ensuring that our members stay at the forefront of these changes,” he added.
Delivering the keynote address, Professor Senator Robert Ajayi Boroffice, former Director-General of the National Space Research and Development Agency (NASRDA), underscored the transformative potential of digital tools in taxation.
He highlighted the role of Artificial Intelligence (AI), Blockchain, and Big Data Analytics in enhancing tax collection efficiency and combating fraud.
“E-filing systems, real-time transaction monitoring, and AI-driven audits can help governments close revenue leaks while simplifying compliance for businesses and individuals,” Boroffice explained.
He also called for the simplification of tax codes and harmonisation of tax rates to attract foreign direct investment and foster business confidence.
Dr Catherine Ndubisi, Chairperson of the ICT Committee, stressed that Nigeria must keep pace with global trends in tax digitalisation.
She warned that the increasing complexity of financial transactions, the rise of e-commerce, and the expansion of digital assets demanded an urgent shift from traditional tax structures.
“ICT is a game-changer—empowering us to automate processes, strengthen enforcement, combat tax evasion, and broaden the tax base in ways never seen before,” she said