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We can’t afford to fail Kogi people, i have great plans to transform the state – PPA Kogi governorship Candidate, Ernest Ozigi

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Ahead of Saturday’s governorship election in Kogi State, the candidate of the Progressive Peoples Alliance, Ernest Ozigi, says the people of the state are tired of failed governance, saying he had great plans to transform the state.

Q. How prepared are you for Saturday’s election?

A: We have prepared very well for the election. We have talked to the people of the state who are the final determinants in the entire process. So we are fully prepared.

Q:Despite your denial, many still believe you would eventually step down for a particular candidate…

  1. It is unfortunate that people are just peddling unfounded rumour. But it goes to show that some people are scared of the likely outcome of the election. They are scared of our rising profile. I have gone too far in this project and it will be illogical to step down when I have secured the confidence of the people. We are in it to win it.

Q: What is your plan for the people of Kogi State if you are elected as governor?

A: Our plans are enormous as a result of the current situation of the state. We are going to take on all the sectors because they are interwoven and affect different segments of the population. We shall look at agricultural development, industrial revolution through the right policies, women and youth empowerment, quality healthcare, educational development and many others. We can’t afford to leave any of the sectors. We have a robust blueprint that will help us go full blast. We will improve the working conditions of the workers. We will put in place a feedback mechanism to get the pulse of the people. Our budgeting and implementation system will be such that the people are directly involved. We will publish our accounts every month to enthrone accountability and ensure that all civil servants receive their salaries promptly. We can’t afford to fail Kogi people.

Q: How do you hope to meet the expectations of the people by delivering on your promises?

A: It is imperative to look at the current revenue base of the state. With current global realities, states must begin to look inward for revenue. Oil demand and prices are nose-diving everyday. We can’t continue like this. I would therefore, strive to diversify the revenue base of the state without relying on federal allocation. It is doable and we believe we have the resource to do all we say we would.

Q: How will you prioritize your programs and policies for the state?

A: We are going to look at industrialization, commercialization, agriculture, education, healthcare, youth empowerment and women empowerment. These will be the key priorities of our government.

Q: You have gone round all the Senatorial Districts in the state. How will you tackle the peculiar challenges of each LGA?

A: I had gone round the state before the electioneering. But for the sake of this election, we have taken note of the peculiar needs of each Senatorial District in the state. Our government is going to be community-driven. We would work with the communities to meet needs. We realized that we have bad road network across the three senatorial districts. Poverty is also a major challenge across the state. The standard of education has dropped, healthcare is near comatose. But top on the priorities is the need to get good roads in place to be able to boost agriculture, commerce and tourism.

Q: Finally, what is your message to the people of Kogi State as they prepare for Saturday’s election?

A: My message to the good people of Kogi State is that this is the time to make good change and turn around the fortunes of the state for the better. They should vote for me and the Progressive Peoples Alliance, not because of today, but for a better tomorrow and the renaissance of our dear state.

The people cannot continue to suffer in silence. All past administrations have apparently failed them.They should vote for a change in ideology and a genuine direction towards a prosperous state and a prosperous people. I represent that change.

There is the need to give change a chance!

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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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