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We’re ready to crush pro-Biafra revolt, says Army

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The Nigerian Army, on Monday, warned pro-Biafra agitators that it was ready to suppress insurrection by any group across the country.

The army made it clear that it was prepared to check the activities of the secessionists, saying it would uphold its constitutional role of protecting the unity and integrity of the country.

The 82 Division of the Nigerian Army, Enugu, gave the warning in an address on the activities of pro-Biafra demonstrators across cities in the South-South and the South-East geopolitical zones.

The Deputy Director, Army Public Relations, 82 Division Enugu, Col. Hamza Gambo, who read a statement on behalf of the General Officer Commanding, Brig. Gen. Ibrahim Attahiru, during a press conference at the division’s headquarters in Enugu, noted that the ongoing protests had led to an increased sense of insecurity in the South-East and South-South.

The army spokesman further noted that although the pro-Biafra activists, like other Nigerians, have the right to freedom of expression and peaceful assembly, such rights should not undermine other people’s freedom and safety.

Gambo said the army would not shy away from its constitutional mandate to suppress insurrection, and aid civil authority, if called upon to do so as a result of the ongoing pro-Biafra agitation.

“The truism of freedom of expression and peaceful assembly is not contestable particularly as it is guaranteed by sections 39 (1) and 40 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

“Instructively, this constitutional guarantee does not allow for abuse of other person’s freedom and safety.

“It is, however, pertinent to note that the same constitution vide section 217 (2) mandates the Armed Forces of Nigeria to suppress insurrection and act in aid of civil authority to restore order when called upon to do so.”

Gambo assured that the army would act within it rules of engagement should it be required to check the activities of the pro-Biafra activists.

“To this end, if and when the Nigerian Army is called upon to play its legally mandated role, it shall do so with utmost sense of duty and responsibility to the nation.

“In such an instance, the Nigerian Army shall act within its rules of engagement accordingly. It is also important to reassure all law-abiding citizens that they have nothing to fear,” Gambo added.

According to him, “The Nigerian Army remains committed to protecting democratic norms while ensuring a peaceful environment for socio-economic activities to thrive.”

Gambo stressed that the ongoing agitation for Biafra was a threat to lives and property.

He said, “In the past three weeks, there has been a marked increase in the activities of pro-Biafra groups in some parts of the South-South and the South-East of Nigeria.

“These activities include protest marches, demonstrations and some reported cases of outright lawlessness and threat to lives and properties.

“These demonstrations are being orchestrated by the Movement for the Actualisation of the Sovereign State of Biafra, the Indigenous People of Biafra and other affiliated groups.

“These agitations and protests have led to an increased sense of insecurity across the regions.”

Renewed agitation for Biafra, which was largely triggered by the detention of the leader of IPOB, and director of Radio Biafra, Nnamdi Kanu, had led to massive protests in major cities of the South-East and South-South.

The protesters are demanding the recognition of Biafra as a sovereign state and Kanu’s immediate release.

Punch

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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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