Business

Buhari will respect final court verdict on VAT – Adesina

Published

5 years ago

September 13, 2021

The Presidency has said President Muhammadu Buhari will respect the final verdict on the Value Added Tax as decided by the Supreme Court.

There has been a raging controversy whether the states or the Federal Government through the Federal Inland Revenue Service should have the powers to collect VAT.

But reacting to the issue, spokesman for the President, Femi Adesina, “Eventually, we will have a legal pronouncement, which may come from the highest court in the land…. Knowing the Buhari administration, it will obey the rule of law.”

He added, “All these states are not unanimous. You have heard some governors speaking out against the position of certain states which are so militant on this VAT issue.”

According to him, the matter will affect the ongoing conversation on fiscal federalism.

He said, “The VAT is good because there have been talks about restructuring and fiscal federalism in the country. If states eventually get their demands in respect of VAT, there will be something like fulfilling fiscal federalism. But then, fiscal federalism itself must be done within the ambits of the law.”

The row over who collects VAT between the Federal Government and the state governments broke out after last month’s verdict by a Federal High Court in Port Harcourt that Rivers State is legally in order to collect VAT in its domain.

The Rivers State Government quickly enacted a VAT law and commenced the process to start the collection.

But the FIRS insisted on continuing with the collection and has challenged the judgment at the Court of Appeal, which on Friday ordered the maintenance of the status quo until the determination of the appeal.

Lagos State, which generates the highest amount of VAT, has enacted its own law empowering it to collect the consumption tax in its domain.

Adesina, speaking on Arise TV, also touched on Nigerian National Petroleum Corporation (NNPC) 2020 financial report, and the security situation in the Northwest.

On the NNPC 2020 audited reports and the declared profit after tax of N287 billion, Adesina lashed out at those who always fail to see positive developments, but are always looking for bad in every good being recorded in Nigeria’s recent history.

He described the state of minds of those picking holes in the news of the profit as those that have been accustomed to hearing bad news, adding that they questioned its authenticity because they never thought that positive things could happen in government.

“Well, we have heard stories in this country before; how Presidents will just give notes to NNPC and their wishes got done without records. There was a lot of impunity in this country, but the NNPC GMD is on record, even the Chief Finance Officer, Umar Ajiya, is on record as saying that President Buhari does not interfere in their operations. It used to happen, but under this administration, it has never happened. That was why you had that declared profit.

“But the surprising thing is that it seems some Nigerians are already so used to bad news, that they have got inured to good news. When that good news came, their first instinct was to pick holes in it because all their lives they are used to bad news.

“When that good news came, they couldn’t imagine it, but it happened. I watched your engagement with the Chief Finance Officer of the NNPC, how he explained that profit and anybody who is not cynical, will know that there’s a lot of truth in what the CFO said.

“Yes, I watched the encounter with the CFO, like I said, and he emphasised that one of the things they had to do was to cut costs. Cut costs for operations; cut costs of production, running costs, and it all redounded to the profit that was declared.

“It shows that there was a lot of wastage, extravagance, lack of accountability in the previous years and the man also said both the President and the Vice President never interfere in the operations.

“As we said in the beginning, we knew and heard and it was indeed true that presidents and those in the corridors of power used to give directives to the NNPC to do certain things, which at the end of the day will erode the profitability of the corporation. That doesn’t happen again and that is why that perfect came.”

Asked if the President would be disposed to speaking to members of the Academic Staff Union of Universities (ASUU) in a private audience, in order to avert the industrial action they just threatened to embark on, Adesina said “why not? The President will do everything that will contribute to industrial harmony in any part of the country, but I also recall that in 2020, just before the COVID lockdown began, ASUU came to see the President, the President personally received ASUU, I was at that meeting, but ASUU still went on strike that lasted about 10 months or more.

“So, what I’ll like to say is that we shouldn’t have the ‘we against them mentality’ in this country. Nigeria belongs to all of us; it belongs to lecturers, it belongs to ASUU, it belongs to those serving in government, it belongs to the ordinary Nigerians. This ‘we against them mentality’ serves nobody any good purpose. Whatever will account for industrial harmony, including on our campuses, let all sides do”, he said.

On the lingering ban of the international social media platform, Twitter, from Nigeria, and the recent shutdown of telecommunication coverage in Zamfara and parts of Katsina State, the presidential spokesman said they were actions taken in the overall interest of security and peace in the country.

Auto

TCAN Honours Dangote Cement Transport for Safety, Logistics Excellence

Published

1 hour ago

September 29, 2026

Trends Admin

TCAN Honours Dangote Cement Transport for Safety, Logistics Excellence

Dangote Cement Transport has been recognised for its contributions to the development of Nigeria’s transport industry, winning the “Champion of Transport Industry Development Award” presented by the Transport Correspondents Association of Nigeria (TCAN).

The award, presented at the third Transport Summit organised by TCAN in Lagos, recognised the company’s efforts in improving road transport operations, strengthening safety standards and deploying more efficient logistics solutions to support industrial activities across the country.

Receiving the award on behalf of the company’s management, the Head of Dangote Cement Transport, Mr Murilo Silva, said the recognition was a reflection of the commitment of the company’s transport workforce, drivers, safety professionals, engineers and operational partners.

Silva said Dangote Cement viewed transportation as a critical component of industrialisation and economic development, stressing that the efficient movement of goods was essential to sustaining production, trade and national economic activities.

“We are deeply honoured to receive this award from the Transport Correspondents Association of Nigeria. This recognition reflects Dangote Cement Transport’s unwavering commitment to developing a safe, efficient and sustainable transport system that supports economic growth and national development,” he said.

According to him, the company would continue to invest in technology, safety initiatives and operational improvements as part of efforts to raise standards across its transport operations.

“At Dangote Cement, we recognise that transportation is much more than moving goods from one point to another. It is a vital link in the nation’s economic ecosystem,” Silva said.

He added that the company would continue to deploy innovative solutions, strengthen its safety culture and collaborate with relevant stakeholders to improve road transport operations.

Silva dedicated the award to the thousands of drivers, transport professionals, engineers, safety personnel and logistics workers whose daily efforts support the movement of Dangote Cement products across its extensive distribution network.

“This award belongs to our drivers, our safety professionals and every member of our transport team who work tirelessly every day to ensure that our operations are safe, reliable and efficient,” he said.

The recognition underscores Dangote Cement Transport’s investments in fleet management, driver training, road safety programmes and technology-driven logistics solutions aimed at improving operational efficiency and reducing risks associated with road transportation.

The award was presented against the backdrop of growing calls for stronger collaboration between government and private-sector operators to tackle infrastructure and logistics challenges confronting the country’s transport industry.

The TCAN summit also featured discussions on port modernisation, rail integration and technology deployment, with stakeholders emphasising the need for coordinated action to improve freight movement, reduce logistics costs and accelerate innovation across Nigeria’s transport sector.

Auto

Carloha Opens Wider Access to Chery Q as Smart EV Enters Nigeria’s Mainstream

Published

17 hours ago

September 28, 2026

Trends Admin

Carloha Opens Wider Access to Chery Q as Smart EV Enters Nigeria’s Mainstream

Carloha Nigeria is taking the Chery Q to motorists across the country, widening access to an electric vehicle designed to combine affordability, practicality, intelligent technology and zero-emission motoring.

The move by the official franchise holder, assembler and authorised distributor of Chery vehicles in Nigeria is expected to give more Nigerian motorists an opportunity to experience the Chinese automaker’s latest generation of smart electric mobility.

Built around Chery’s global “Quest for Joy” philosophy, the Chery Q blends distinctive styling with intelligent technology, advanced safety features and efficient electric performance, while drawing inspiration from the heritage of the iconic Chery QQ family.

Carloha said the model is targeted at a broad spectrum of motorists, including young professionals, growing families, first-time electric vehicle buyers and urban commuters looking for a cleaner, smarter and more connected driving experience.

The Chery Q also brings a strong design proposition to the compact EV segment. Its award-winning exterior, recognised with both the Red Dot Design Award and iF Design Award, features expressive geometric styling, rounded LED lighting and a contemporary two-tone interior.

Despite its compact dimensions, the vehicle has been engineered to maximise interior space, achieving an 85 per cent space-efficiency ratio.

Measuring 4,195mm in length with a 2,700mm wheelbase, the Chery Q offers substantial passenger room while retaining the manoeuvrability expected of an urban vehicle.

Its practicality is further enhanced by luggage capacity that expands from 375 litres to 1,450 litres, alongside a 70-litre front trunk and 38 smart storage compartments.

According to the company, the combination makes the Chery Q suitable for a wide range of everyday applications, from city commuting and shopping to family outings and weekend journeys.

Beyond its styling and practicality, the electric vehicle has been developed around a rear-engine, rear-wheel-drive architecture, supported by independent suspension and balanced weight distribution to enhance handling and stability.

The model also features Electric Power Steering and a One-Box Brake-by-Wire system designed to provide smoother braking response, improved driving precision and greater control, while supporting regenerative energy recovery.

A key attraction for potential EV buyers is the Chery Q’s claimed driving range. The vehicle offers an estimated 420-kilometre NEDC range, giving users greater flexibility for daily commuting and longer journeys between charging sessions.

Charging downtime is also reduced through its fast-charging capability, with the battery able to move from 30 per cent to 80 per cent in about 16.5 minutes, according to the manufacturer.

With the nationwide rollout, Carloha is positioning the Chery Q as part of the growing transition towards cleaner and smarter mobility in Nigeria, as interest in electric vehicles continues to expand.

The company’s wider strategy of assembling and distributing Chery vehicles locally also places the Q within its broader effort to make the brand’s technology and vehicle range more accessible to Nigerian motorists.

Business

NNPCL Slashes Petrol Pump Price to N1,405 in Abuja, Dangote Refinery Cuts Gantry Rate

Published

21 hours ago

September 28, 2026

Trends Admin

NNPCL Slashes Petrol Pump Price to N1,405 in Abuja, Dangote Refinery Cuts Gantry Rate

Abuja — The Nigerian National Petroleum Company Limited (NNPCL) has announced a reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, at its retail outlets in the Federal Capital Territory (FCT), Abuja.

A market survey conducted on Sunday revealed that NNPCL filling stations in key areas such as Gwarimpa and Kubwa have adjusted their prices downward to N1,405 per litre, a reduction from the previous rate of N1,430 per litre.

However, the survey indicated a slight variation in pricing across different NNPCL outlets within the capital city. While the Gwarimpa and Kubwa stations are selling at N1,405, other outlets located along the Kubwa Expressway, Air Junction, as well as those in Wuse Zones 4 and 5, are offering the product at a lower rate of N1,395 per litre.

The latest price adjustment by the national oil company follows a significant reduction in the gantry price of petrol by the Dangote Refinery. Reports indicate that the refinery recently slashed its gantry price by N25, bringing the rate down to N1,325 per litre.

The reduction in pump prices is expected to bring slight relief to motorists and commuters in Abuja, who have had to grapple with high transportation costs fueled by elevated fuel prices in recent months.

Industry observers note that the ongoing price adjustments reflect the dynamics of the deregulated downstream sector, where market forces and refinery gate prices influence retail costs. It remains to be seen if other major marketers and independent oil marketers will follow suit with similar price reductions in the coming days.

Motorists in Abuja have welcomed the development, expressing hope that the downward trend in fuel prices will be sustained across the country and ultimately lead to a reduction in the overall cost of living.