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September 20, 2024 Jega Presents Livestock Sector Reforms to President Tinubu
IFMUYONEWS

Jega Presents Livestock Sector Reforms to President Tinubu

Co-Chairman of the Presidential Livestock Reforms Committee, Prof ATTAHIRU JEGA, on Thursday presented a 152-page report to President BOLA TINUBU, detailing reform measures for the livestock sector.

Part of the report recommended a ten-year transformation process through which Nigerians and the government can harness gains in the sector, including the recommendations on how best to resolve issues that result in the farmers-herders crisis amicably.

The report also includes operational guidelines for the Federal Ministry of Livestock Development, a new ministry created by the TINUBU administration.

JEGA equally recommended that livestock grazing and ranching should continue side by side, while the country promotes a long-term objective of having an intensive livestock sector.

Recall that Prof. JEGA who is the former Chairman of the Independent National Electoral Commission (INEC)was appointed Co-Chairman of the Presidential Livestock Reforms Committee in July this year.

September 19, 2024 CBN Reintroduces Reduced Cyber Security Levies
IFMUYONEWS

CBN Reintroduces Reduced Cyber Security Levies

The Central Bank of Nigeria, CBN, has confirmed the enforcement of the controversial cybercrime levy at 0.005 percent on all electronic transactions under its new guidelines for the 2024-2025 fiscal year.

Apex Bank disclosed this in its recently released Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2024-2025.

The development comes after the levy was purportedly suspended after it sparked debate among Nigerians. CBN reaffirmed its commitment to mandating banks and other financial institutions to deduct the levy from all electronic transactions.

September 17, 2024 NEITI Confirms 3.473 FAAC Allocations in Q2 of 2024
IFMUYONEWS

NEITI Confirms 3.473 FAAC Allocations in Q2 of 2024

the Nigeria Extractive Industries Transparency Initiative has stated that the Federation Accounts Allocation Committee has disbursed 3.473Trillion Naira to the federal, state and local government in the second quarter (Q2) of 2024.

This reflects an increase of N46.77bn which is 1.42 percent compared to the first quarter of 2024.

This was disclosed by the agency’s Assistant Director, Communications and Advocacy, CHRIS OCHONU, in a statement released on Monday, noting that these figures are part of NEITI’s latest Quarterly Report on Federation Account Revenue Allocations for Q2 2024.

CHRIS OCHONU said the Federal Government received 1.102 Trillion Naira, representing 33.35 percent of the total allocation while 36 states received 1.337 Trillion Naira and the 774 local government councils shared 864.98 Billion Naira.

He added that nine oil-producing states received 169.26Billion Naira as their derivation share from mineral revenue.

September 9, 2024 NNPCL Denies Wanting to Monopolize Dangote Refinery Products
IFMUYONEWS

NNPCL Denies Wanting to Monopolize Dangote Refinery Products

The Nigerian National Petroleum Company Limited (NNPC Ltd) has said it has no intention to be the sole off-taker of petrol produced by the Dangote Refinery Limited, DRL.

NNPC Ltd said this while reacting to claim by the Muslim Rights Concern, MURIC that the Dangote Refinery Limited (DRL) is being undermined by actions of the NNPC Ltd.

MURIC had in a statement issued on Friday claimed that recent changes to the pump price of petrol will prevent the Dangote Refinery from selling the product at lower prices to Nigerians.

The group also claimed NNPC Ltd. has become the sole off-taker of all products from the refinery to the detriment of Nigerians.

However, OLUFEMI SONEYE, Chief Corporate Communications Officer, NNPC Ltd in a statement on Saturday dismissed the claims of MURIC.

While puncturing the claims of the group, NNPC LTD in the statement, noted that the pricing of petroleum products from any refinery, including the Dangote Refinery Ltd. (DRL), is determined by global market forces.

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