Business

MTN denies owing Osun govt N900m via tax debt

Published

4 weeks ago

August 18, 2024

MTN denies owing Osun govt N900m via tax debt

MTN Nigeria has dismissed claims by Osun State government that it owes the state over N900 million in unpaid taxes, related to the deployment of its fibre optic cables.

The state, through its consultant, Global Transactions Nigeria Limited (GTNL), had accused MTN of laying over 270 kilometers of fibre cables without remitting the required statutory taxes. The consultant expressed concern over the company’s alleged disregard for local laws and regulations.

Consequently, the Osun State Ministry of Innovation, Science and Technology petitioned the Nigerian Communications Commission (NCC), alleging that MTN withheld crucial information from the state government when partnering with Odua InfraCo for fibre cable deployment.

In a June 30, 2024 response to the NCC, MTN Nigeria denied the allegations of tax evasion and withholding information from the Osun State government, and provided explanations to queries raised by the regulatory body on May 17, 2024.

In a letter dated June 30, 2024, seen by Sunday Sun, MTN clarified that its fibre cable deployment in the state was based on a legal agreement with Odua InfraCo, a company in which the Osun State government holds a significant stake. The telco emphasized that it had complied with all necessary approvals and permits issued by the state government.

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In the letter sent to NCC, MTN stated: “Osun State Government, through its consultant, GTNL, has been making unsubstantiated claims of outstanding tax obligations due, and requests that they be paid through the consultant. The fact is, MTN has settled its RoW fees to Odua Infraco based on binding RoW contract between Osun State and Odua. If there is an attempt by Osun State government to severe ties with Odua Infraco, this shouldn’t impact existing agreement with RoW right holders (Odua and Osun should resolve their differences in the overall interest of ease of doing business.”

MTN explained that it had a legal agreement with Odua InfraCo to roll out fibre cable in the state and that the state was aware of the agreement. It was however gathered that the state later had issues with Odua InfraCo, which is a licensed company in the state and the state then told MTN to discontinue its agreement with Odua InfraCo and work with the state consultant.

MTN letter to the NCC also explained that during the period referenced, MTN legally partnered with the Odua Investment Company – in which the Osun State government has a significant shareholding, to lay cable in their fibre ducts in the state. This was based on the documented existing right of way approvals for Odua’s ducts provided by the Osun State Ministry of Innovation, Science and Technology.

MTN further stressed in the letter to NCC that the actual dispute is between Osun State government and Odua Infraco over the right-of-way (RoW) fees for fibre infrastructure deployment.

While the consultant to the Osun State Government, GTNL, is insisting on the payment of over N900 million by MTN, the matter is now before the Compliance

The letter showed actions already taken by MTN to settle the matter include engagement and meeting with members of the Executive Council of Osun State (Commissioners for Finance & Environment & Sanitation and the Attorney General) to amicably resolve the issue. “However, all efforts have not yielded the desired result; advised Odua to settle its disagreement with the state government.”

Also, in the letter, MTN stated that it has suspended all payments to Odua until the matter is resolved and has sought the NCC’s intervention following a complaint filed with the NCC by the GTNL.

MTN denies owing Osun govt N900m via tax debt

Business

NNPC hints petrol may rise above N1,000/litre, releases fresh price list

Published

4 hours ago

September 16, 2024

Trends Admin

NNPC hints petrol may rise above N1,000/litre, releases fresh price list

The Nigerian National Petroleum Company Limited (NNPCL) has hinted that the price of premium motor spirit (PMS), also known as petrol, may rise above N1,000 per litre in its retail stations.

In a notice on Monday, NNPC Ltd released estimated prices of petrol (obtained from the Dangote Refinery based on September 2024 pricing) in its retail stations across the country.

According to the notice, the estimated pump prices include Lagos, N950 per litre; Sokoto, N992 per litre; Oyo, N960 per litre; Kano, N999 per litre; Kaduna, N999 per litre; FCT, N992 per litre; Rivers, N980 per litre; and Borno, N1019 per litre.

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The company said in line with the provisions of the Petroleum Industry Act (PIA), petrol prices are not set by the government, but negotiated directly between parties.

“The NNPC Ltd can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024.

“The NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.” the notice said.

NNPC hints petrol may rise above N1,000/litre, releases fresh price list

Business

Dangote Refinery: Tinubu committee to announce petrol price on October 1

Published

7 hours ago

September 16, 2024

Trends Admin

Dangote Refinery: Tinubu committee to announce petrol price on October 1

Dangote Group has responded to reports claiming that it sold premium motor spirit (PMS) to the Nigerian National Petroleum Company Limited (NNPCL) at N898 per litre, calling the reports “misleading and malicious.”

In a statement issued by Chief Branding and Communication Officer Anthony Chiejina, Dangote Group did not confirm the specific price at which the product was sold, only stating that it was sold in dollars.

Olufemi Soneye, the NNPCL’s chief spokesperson, had previously stated that the company purchased the PMS at N898 per litre, correcting an earlier report that suggested the price was N760 per litre.

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Dangote’s statement criticized Soneye’s report as intentionally misleading, aimed at undermining the achievement of the Dangote Refinery’s recent milestone in addressing Nigeria’s energy challenges. The statement urged Nigerians to disregard the misleading claims and wait for the official price announcement from the Technical Sub-Committee on Naira-based crude sales to local refineries, which will be made on October 1, 2024.

Business

JUST IN: Northern regions to pay more for petrol after NNPC announces Dangote price

Published

8 hours ago

September 16, 2024

Trends Admin

Dangote Refinery, Aliko Dangote

JUST IN: Northern regions to pay more for petrol after NNPC announces Dangote price

The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol sourced from the Dangote Refinery will be sold at prices exceeding N1,000 per litre in northern Nigeria.

According to a statement by NNPC spokesperson Olufemi Soneye, the cost of petrol could reach N1,019 per litre in Borno State and N999.22 in cities such as Abuja, Sokoto, and Kano.

In contrast, the price for petrol in southern regions, including Oyo and Rivers states, will be approximately N960 per litre. Lagos and its surrounding areas will see the lowest price, set at N950 per litre.

The announcement, made in a statement titled ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’, provides an overview of the anticipated retail prices across the country.

“The NNPC Ltd has released estimated prices of Premium Motor Spirit, also known as petrol (obtained from the Dangote Refinery) in its retail stations across the country.

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“The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act, PMS prices are not set by the government, but negotiated directly between parties at an arm’s length,” he stated.

The company explained that the product it loaded on Sunday was paid for in dollars.

“The NNPC Ltd can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as naira transactions will only commence on October 1, 2024.

“The NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100 per cent to the general public,” the statement added.

He stated that the estimated pump prices of PMS were obtained from the Dangote Refinery and will be across NNPC retail stations in the country, based on September 2024 pricing.

Recall that the Dangote Group had disagreed with the NNPC on Sunday that it was selling PMS at N898, but it failed to release its price list.