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CONQUEST PUBLISHER BAMIDELE ADEYEMI STEPS OUT WITH CONQUEST AWARDS FOR EXCELLENCE

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Former Photo Editor with leading soft sell Journal- Encomium Magazine and Publisher of Conquest Magazine, Bamidele Adeyemi is set to stage the first of it’s kind Awards for Excellence. Tagged “CONQUEST AWARDS FOR EXCELLENCE”, and unlike other awards in the Publishing industry, the genuine aim of CONQUEST AWARDS FOR EXCELLENCE is to uncover and recognize Nigeria’s new faces who have performed extremely well in their line of profession. According to a media release made available to us the awards want to recognise the Impressive Commitment and heroic roles of several unknown and uncelebrated personalities to the advancement of their community, state and of modern day Nigeria.

The Conquest Awards for Excellence is a celebration of Nigerians who have conquered obstacles in their chosen life endeavours, it is aimed at rewarding prestigious personalities, groups, corporate bodies, entrepreneurial spirits and loyal politicians who have conquered in their fields to make it.
The awards is an idea of Bamidele Adeyemi CEO Capaz Communications Limited. The team at Capaz Communications Limited is made up of tested and trusted professionals of sterling qualities, drawn from diverse fields including Public Relations, Media and event management. The outfit prides itself as an A-list PR and events Company of choice, with credits in Publishing, Publicity, Photography, Events and Branding to mention but a few.

The aims and objectives of The Conquest Awards for Excellence are listed as: To recognize and reward entrepreneurial spirits amongst individuals that has serve extremely well, To appreciate the economic importance and contributions of captains of industry, To give unknown excellent performers a sense of belonging and warmth reception everywhere they are, as any other A-list celebrities, To create a new set of role models and to unveil for young aspiring individuals whom to emulate as a successful models in their chosen province, To highlight the collective Conquest Spirit in Nigeria and celebrate the quality of moral and mental power of our nation.

The Awards Categories – Conquest male entrepreneur of the year:- This goes to an outstanding male entrepreneur who aside being an employer of labour or business leader has also built a rapport and contribution to the society.

– Conquest Female entrepreneur of the year: – This goes to an outstanding female entrepreneur who aside being an employer of labour or business leader has also built a rapport and contribution to the society. – Conquest Housing management firm of the year:- This goes to Estate management outfit, who has provided and given most conducive atmosphere for people of this nation to own a land or Housing Property.

-Conquest the most supporting NGO of the year: This goes to an organization that cares for the less privilege in the society. – Conquest Best up and coming artiste of the year:This goes to the young new era musician whose song from nowhere caught across the country.

– Conquest Most Productive Farming Firm of the Year: This goes to a very large and productive farming outfit in the country. – Conquest Youth Ambassador of the year: This goes to a Youth leader of an organization, political party or community.

-Conquest Best Dressed Actor of the Year: This goes to the most Fashionable actor in Hollywood. – Conquest Most Powerful Society Woman of the year: This award goes to a woman of power and honour, whom has used her position to bless lots of lives.

– Conquest Special Recognition Award.

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Holiday Relief: Dangote Refinery Lowers PMS Price to N899.50, Introduces Special Credit Offer

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Holiday Relief: Dangote Refinery Lowers PMS Price to N899.50, Introduces Special Credit Offer

Holiday Relief: Dangote Refinery Lowers PMS Price to N899.50, Introduces Special Credit Offer

In a bid to ease financial burdens during the holiday season, Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) to N899.50 per litre. This follows a previous price cut to N970 per litre on November 24. The move is aimed at reducing transportation costs for Nigerians as they prepare for festive celebrations.

Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Group, disclosed the development in a statement, highlighting additional benefits for consumers. Beyond the price reduction, the refinery is introducing a special credit offer. For every litre of PMS purchased on a cash basis, consumers can buy an additional litre on credit, supported by a bank guarantee from Access Bank, First Bank, or Zenith Bank.

“To help reduce transport expenses this holiday season, we’re offering PMS at N899.50 per litre and providing a credit option for additional purchases. This is part of our commitment to making high-quality petroleum products accessible to Nigerians,” Chiejina said.

The refinery also reaffirmed its commitment to providing premium-quality, environmentally-friendly fuel, while ending Nigeria’s dependence on substandard imported products.

With a capacity of 650,000 barrels per day, the Dangote Refinery is the largest single-train refinery in the world, capable of meeting Nigeria’s entire refined petroleum product demand and generating surplus for export. As the festive season approaches, the company expressed gratitude to Nigerians for their support and pledged continued efforts to ease their economic burdens.

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Setting the Record Straight: Clarifying NNPCL’s Role in the Dangote Refinery Investment

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General Buratai Urges Dangote Not To Succumb To Marketers Blackmail, Reveals Why

Setting the Record Straight: Clarifying NNPCL’s Role in the Dangote Refinery Investment

We have received numerous inquiries from the media and concerned stakeholders seeking clarification regarding a recent report attributed to the Nigerian National Petroleum Company Limited (NNPCL). The report suggested that NNPCL’s decision to secure a $1 billion loan backed by its crude was instrumental in supporting the Dangote Refinery during liquidity challenges.

Setting the Record Straight: Clarifying NNPCL's Role in the Dangote Refinery Investment

We wish to categorically state that this narrative is a misrepresentation of the facts. The $1 billion referenced constitutes just about 5% of the total investment in building the Dangote Refinery.

Our partnership with NNPCL was established based on their strategic importance as the largest offtaker of Nigerian crude and, at the time, the sole supplier of gasoline into Nigeria. As part of this agreement, a 20% stake in the refinery was valued at $2.76 billion. Of this amount, NNPCL agreed to pay $1 billion upfront, while the remaining balance was structured to be recovered over five years through crude oil supply deductions and dividends.

If we had been facing liquidity challenges, such generous credit terms would not have been feasible. At the time of the agreement in 2021, the refinery was still in its pre-commissioning phase. Any claims suggesting financial struggles are inconsistent with the structure and nature of this agreement.

Regrettably, NNPCL was unable to meet its commitment to supply the agreed 300,000 barrels per day of crude oil due to pre-existing financial commitments tied to their crude cargoes. Given this, we extended a 12-month period for NNPCL to pay cash for the balance of their equity. However, they were unable to meet the deadline, which expired on June 30, 2024. Consequently, NNPCL’s equity stake in the refinery was adjusted to 7.24%.

It is therefore inaccurate to claim that NNPCL facilitated a $1 billion investment amid liquidity challenges. Their $1 billion investment secured a 7.24% ownership stake in the Dangote Refinery, a strategic partnership beneficial to their interests.

NNPCL remains a valued partner, and we urge all stakeholders to adhere to the facts and provide accurate information to ensure proper media representation for the benefit of all stakeholders and the public.

Anthony Chiejina
Group Chief Branding and Communications Officer
18th December, 2024

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MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

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MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

MTN Contributes N200bn Monthly in VAT, Driving Tax Reform Debate

 

MTN Nigeria, the nation’s largest telecom company, pays over N200 billion in Value Added Tax (VAT) monthly, making it the single biggest contributor to the country’s VAT revenue, according to Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee.

Speaking at Channels Television’s Town Hall on Tax Reforms, Oyedele highlighted significant disparities in the current VAT allocation system, revealing that all VAT paid by MTN is credited solely to Lagos State, where the company’s headquarters is located, despite the fact that services generating this revenue are consumed nationwide.

“MTN is the largest contributor to VAT in Nigeria,” Oyedele stated. “They pay over N200bn every month, and the gap between them and the second-largest contributor is massive. However, all this VAT is currently allocated to Lagos, even as calls are made across states like Kano, the FCT, Ekiti, Edo, and Kebbi.”

As part of the ongoing tax reform efforts, the committee has proposed a new framework to ensure equitable distribution of VAT revenues based on consumption rather than the corporate headquarters’ location.

Under the proposed redistribution model, Lagos State, which now retains the full N200bn from MTN, would see its share reduced to around 20 per cent. The remaining revenue would be distributed more fairly among other states where the services are consumed.

“This adjustment ensures states where VAT is generated get their fair share,” Oyedele explained. “While Lagos State’s share decreases slightly, every other state stands to gain under the new system.”

The tax reform bill, designed to address inefficiencies and promote fairness in Nigeria’s fiscal policies, has sparked debate among stakeholders. Critics have accused the committee of advancing policies that may negatively impact certain regions.

Oyedele, however, dismissed these claims, arguing that the current system is flawed and in need of urgent correction. “If something is being done wrongly, how can Lagos State or anyone oppose reforms aimed at fixing it?” he questioned.

The proposed reforms, which include provisions for revenue redistribution and efficiency improvements, are seen as pivotal to ensuring fairness and sustainability in Nigeria’s tax system.

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