Business
Dangote urges private sector to commit 1% profit to health
Chairman, Aliko Dangote Foundation, and Africa’s biggest philanthropist, Aliko Dangote, has urged all operators in the private sector to commit one per cent of their profits to fund the health sector in Nigeria.
This, he said, would enable the country to tackle major health crises such as the coronavirus pandemic.
Dangote noted that such an allocation, which would be a separate payment from the corporate tax usually paid to the government would improve needed funding to boost the nation’s ailing health sector, as Nigeria continues to grapple with the effects of the COVID-19 pandemic.
Dangote said such an allocation, which would be separate from the corporate tax usually paid to the government, would improve the needed funding to boost the nation’s ailing health sector.
He made the suggestions while responding to questions posed to him by a moderator Francine Lacqua during the virtual Bloomberg New Economic Forum, at a session titled, ‘Cross-sector mobilisation in times of crisis: Public health perspective.”
Asked if funding was one of the main barriers to dealing with health crisis effectively, Dangote said, “Yes, I agree with you. It is more to do with funding. Like what we are doing in Nigeria as a foundation (Aliko Dangote Foundation), we are trying to sponsor a bill to our congress where we want them to impose a tax.
“This is a separate tax, not a corporate tax, of maybe about one per cent of all our profits, in the private sector, so that they will fund health.
“And I think it is the only way; we cannot just leave government alone. Government alone cannot fund health. So, we the foundations, the private sector and then the government, we have to actually work together to make sure that we fund health. You know, it is a very, very important sector and without a healthy population, there is no way you have a healthy economy.”
Dangote added, “For us here in Nigeria, mostly in Africa, the COVID-19 is really an eye-opener because when you look at it, we have two impacts. One is the human impact, the other one is the economy.
“One, I think in Africa, most of it is actually the economic impact, because what you have done at the beginning, we shut down all our activities, we shut down the airports. So, when you look at the economic impact for us, it is huge. But the human impact, we as at today we have about 65,000 cases or thereabouts in Nigeria, and we have 1,165 deaths.”
Auto
Jetour to showcase full SUV line-up, hybrid vehicles at 2025 Abuja motor fair
Jetour to showcase full SUV line-up, hybrid vehicles at 2025 Abuja motor fair
Jetour Mobility Services is set to make a strong presence at the 2025 Abuja International Motor Fair, showcasing its full range of Sports Utility Vehicles (SUVs), cutting-edge hybrid models, and customer-focused services.
The brand will display its impressive line-up, such as the Jetour T2, Jetour X70 Plus, Jetour X90 Plus, Jetour X70 Dashing, and Jetour X50, as well as its newly introduced hybrid variants, the X70 Hybrid and T2 Hybrid.
These models combine performance with improved fuel efficiency and reduced emissions, designed with today’s families and adventure-minded drivers in mind, blending advanced technology, comfort, and affordability.
Jetour’s participation underscores its commitment to innovation and customer satisfaction, strengthening its footprint in the SUV and crossover segments.
The company’s steady rise in the Nigerian market has been remarkable, validated by its “Fastest Growing Auto Brand of the Year” award at the 2024 Nigeria Auto Journalists Association (NAJA) Awards.
Jetour Nigeria is also highlighting its robust after-sales service, including genuine spare parts, technical support, and a comprehensive five-year or 150,000-kilometre warranty.
The firm says it looks forward to engaging with customers, showcasing its latest innovations, and reinforcing its position as one of Nigeria’s fastest-rising automotive brands at the fair, scheduled for November 18-21 at the Eagle Square, Abuja.
Business
Tinubu bows to pressure, stops 15% fuel import duty plan
Tinubu bows to pressure, stops 15% fuel import duty plan
The Federal Government has shelved its plan to introduce a 15 per cent import duty on petrol and diesel, barely three weeks after President Bola Tinubu approved the tariff proposal.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) confirmed the suspension on Thursday in a statement by its Director of Public Affairs, George Ene-Ita, urging Nigerians to avoid panic buying or hoarding of petroleum products.
“It should be noted that the implementation of the 15% ad-valorem import duty on imported Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel) is no longer in view,” the statement said.
President Tinubu had on October 29 approved the tariff to raise the landing cost of imported fuel, following a proposal by the Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji.
The duty — calculated on the cost, insurance, and freight (CIF) value of imports — was expected to take effect from November 21, 2025, and was aimed at protecting local refineries such as the Dangote Refinery and modular plants by making imported fuel less competitive.
However, the policy quickly drew public criticism, with energy analysts warning that it could push petrol pump prices up by as much as ₦150 per litre and worsen inflation and transport costs.
NMDPRA said the government decided to suspend implementation after reviewing market realities and the need to stabilise domestic supply and prices.
The Authority also assured that there is no cause for concern over fuel availability, noting that product supply remains “robust and within the acceptable national sufficiency threshold.”
“There is a steady inflow of petroleum products — including PMS, AGO, and LPG — from both local refineries and imports to guarantee adequate stock at depots and retail stations nationwide,” Ene-Ita stated.
He cautioned marketers against hoarding or arbitrary price increases, warning that the regulator would not hesitate to take firm action against any operator involved in anti-market practices.
“The Authority will continue to monitor supply and distribution to prevent disruptions, especially during this peak demand period,” the statement added.
The NMDPRA commended stakeholders in the downstream sector for their cooperation and reaffirmed its commitment to ensuring energy security and stable product supply across the country.
Auto
BYD unveils ‘Atelier BYD’, creative hub blending innovation, sustainability, lifestyle in Lagos
BYD unveils ‘Atelier BYD’, creative hub blending innovation, sustainability, lifestyle in Lagos
BYD has introduced an exciting initiative at its brand-new showroom in the heart of Victoria Island, a monthly showcase dedicated to projects that reflect its core values of innovation, sustainability, and lifestyle.
The first edition in October featured PITH Africa, an Afrocentric streetwear brand redefining creative expression for a new generation.
Currently on display until the end of November is Mint Organic Care, a brand that champions eco-conscious living and personal well-being.
For December, a Christmas Pop-Up will spotlight projects such as Clay of Lagos, Kelly Praise, Stitches by Lope, Mostudeo, PITH Africa, and Mint Organic Care.
Upcoming editions will continue to feature innovative projects, each bringing fresh ideas and unique perspectives to enrich this collaborative platform.
BYD Nigeria is the sole and official distributor of BYD electric and hybrid vehicles in Nigeria. The brand is distributed by CFAO Mobility, a leading automotive distributor and subsidiary of the CFAO Group, which has been present in Nigeria for over 120 years.
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