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October 3, 2024 Federal Government Removes VAT from Diesel, Cooking Gas, Other Oil and Gas Sector Commodities
IFMUYONEWS

Federal Government Removes VAT from Diesel, Cooking Gas, Other Oil and Gas Sector Commodities

Determined to arrest the spate of divestments in the nation’s oil and gas sector, the Federal Government has announced a new fiscal regime with a wide range of tax exemptions in the industry.

The Minister of Finance and Coordinating Minister of the Economy, Mr. WALE EDUN, stated this in statement issued by his Director, Information and Public Relations, Mr. MOHAMMED MANGA, stressing that the fiscal incentives were aimed at revitalizing Nigeria’s oil and gas sector.

The tax exemptions were contained in: Value Added Tax (VAT) Modification Order 2024; as well as Notice of Tax Incentives for Deep Offshore Oil & Gas Production, by the Oil & Gas Companies.

He added that the measures were designed to lower the cost of living, bolster energy security, and accelerates Nigeria’s transition to cleaner energy sources, noting that the reforms were part of a broader series of investment-driven policy initiatives of President BOLA TINUBU, in line with Policy Directives 40-42.

October 3, 2024 Isreal-Gaza-Iran-Lebanon War, Nigeria Making Plans to Evacuate Her Citizens
IFMUYONEWS

Isreal-Gaza-Iran-Lebanon War, Nigeria Making Plans to Evacuate Her Citizens

the Federal Government has commenced arrangements to evacuate its citizens from Lebanon due to escalating tensions between Israel and Iran.

In an announcement, Special Assistant to President BOLA TINUBU on Social Media, DADA OLUSEGUN advised Nigerians in Lebanon to contact the Nigerian mission for documentation.

This comes as Iran fired ballistic missiles at Israel on Tuesday, retaliating for the assassination of Hezbollah leaders, prompting a heated exchange of threats.

However, global powers, including China and Saudi Arabia, are calling for calm and dialogue.

Israel launched fresh series of attacks on the Lebanese capital of Beirut today. The army made the announcement on social media platform X, saying it was attacking terrorist targets in Beirut.

October 3, 2024 GCON or Nothing! – House of Representatives Reject CFR Award for Tajudeen Abbas
IFMUYONEWS

GCON or Nothing! – House of Representatives Reject CFR Award for Tajudeen Abbas

the House of Representatives has turned down the National Honour conferred on Speaker TAJUDEEN ABBAS, stating that President BOLA TINUBU discriminated against the House by giving Senate President GODSWILL AKPABIO a higher honour.

It would be recalled that on Tuesday, TINUBU announced the award of Grand Commander of the Order of the Niger (GCON) on Akpabio and Chief Justice of Nigeria, KUDIRAT KEKERE EKUN, while TAJUDEEN ABBAS and Deputy Senate President JIBRIN BARAU got the Commander of the Order of the Federal Republic (CFR).

Following a motion of urgent public importance moved by PHILIP AGBESE, at the plenary today, the House resolved that members in the Green Chamber are not inferior to Senators, and therefore, both leaders should be treated equally.

The motion, signed by 360 members of the House, called for the abolition of the upper chamber and lower chamber nomenclature, stating that both chambers are equal.

October 3, 2024 House of Reps Pushes for Measures to Combat Flooding Across the Country
IFMUYONEWS

House of Reps Pushes for Measures to Combat Flooding Across the Country

The House of Representatives has urged the Federal Ministries of Water Resources and Environment to direct the Nigeria Hydrological Services Agency to implement measures aimed at preventing flooding across the country.

The House also called on the Federal Government, through the Ministry of Water Resources and Sanitation, to begin the dredging of the nation’s major dams and rivers to prevent excessive flooding.

It should be recalled that a few weeks ago, heavy flooding claimed lives and destroyed properties in Borno, Yobe, Adamawa, and Zamfara states, among others. Federal and state governments, as well as concerned individuals, have since led humanitarian interventions to alleviate the victims’ plight.

The resolutions of the House followed the adoption of a motion sponsored by the lawmaker representing Zaki Federal Constituency, Bauchi State, MOHAMMED SHEHU, who emphasized that dredging Nigeria’s major dams and rivers is crucial to mitigating the devastating impact of floods on farmers and their crops.

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