The number of Point of Sales (PoS) machines deployed by merchants and individuals across Nigeria rose to 3.04 million in July this year. The Nigeria Inter-Bank Settlement System (NIBSS) disclosed this in its latest electronic payment data. This represents a 32 per cent increase year on year when compared with the number of deployed terminals in the same period last year, which was 2.3 million. The July 2024 figure indicated that a total of 744, 533 new PoS terminals were deployed between August 2023 and July 2024. However, the figure for deployed PoS is still lower than the total registered…
Author: Elvis Eromosele
The Minister of Petroleum Resources (Oil), Heineken Lokpobiri, has announced that the FPSO facility in Lagos, a joint venture between NNPC Limited and Century Nigeria Limited, is nearing completion and will soon contribute an additional 40,000 barrels per day to Nigeria’s crude oil production. Lokpobiri made this statement during an inspection visit to the site on Saturday. The Floating Production Storage and Offloading (FPSO) facility in Lagos is also in partnership with WAEP and ENSERV. According to Lokpobiri’s statement, the facility is a prime example of how partnerships can strengthen both local expertise and national output, aligning seamlessly with our…
The federal government has introduced a new bill that will mandate all individuals engaged in banking, insurance, and stockbroking to present a tax identification number (TIN) before opening or operating any account. Presented to the National Assembly by the executive, the bill aims to strengthen tax compliance and optimize revenue collection across Nigeria. Dated 4 October, the bill is titled “A Bill for an Act to Provide for the Assessment, Collection of, and Accounting for Revenue Accruing to the Federation, Federal, States, and Local Governments; Prescribe the Powers and Functions of Tax Authorities, and for Related Matters.” the document read…
All is set for a grand celebration as the Abadina College Old Students’ Association (ACOSA) prepares to mark the 47th Anniversary of their alma mater, Abadina College, University of Ibadan, with the 8th Annual Lecture and Awards Ceremony. The event will feature the highly anticipated Annual Lecture and Awards Ceremony, which is slated to take place on October 11, 2024, at the prestigious Trenchard Hall, University of Ibadan, commencing at 2:30 p.m. This year’s celebration will center around the theme, “Providing a Holistic and Qualitative Education Hinged on Integrity and Excellence 2”. A focal point of the event will be…
By Dr. Elizabeth Eromosele Our eyes are the windows to the world. They enable us to experience life’s beauty and connect with the people around us. The gift of sight is something many of us take for granted, but for millions of people worldwide, including in Nigeria, vision problems are a daily reality. Blindness and visual impairment have far-reaching consequences, impacting individuals’ quality of life, limiting educational opportunities, and reducing economic potential. For children, the impact of untreated eye conditions can be devastating, affecting their ability to learn, grow, and contribute to society. It is in this context that World…
By Dr Ugo Enwerem Eyes are often called the mirrors of the soul, but they are much more than that. They are vital to how we engage with the world, influencing how we learn, work, and experience life. Yet, millions of people around the world, including many in Nigeria, are losing the ability to see clearly, with devastating consequences for their health, education, and economic prospects. As we approach World Sight Day 2024 on October 10, it’s time to renew our commitment to tackling visual impairment, with this year’s focus on children. The theme, “Love Your Eyes – Protect Your…
Dangote oil refinery is poised to process up to 400,000 barrels of crude per day (bpd) over the next two months and will reach full capacity in the coming months. According to a cargo allocation list seen by Bloomberg, the 650,000 metric tons capacity plant near Lagos is set to receive approximately 24 million barrels of crude in October and November, signalling a shift towards utilising more domestic supply. Ronan Hodgson, a London-based analyst at FGE, told Bloomberg that the increased demand from Dangote could significantly tighten the West African crude market in the fourth quarter. Hodgson noted that this…
Barring any unforeseen, the number of people living with hearing loss in Africa is projected to hit 54 million by 2030, the World Health Organization (WHO) has revealed. According to a report published by the UN health agency on Monday, the number of people currently living with hearing loss in Africa stands at 40 million, with the issue costing the continent $27 million annually due to its significant impact on individuals and economies. The report highlights how hearing loss disproportionately affects poor and vulnerable populations across the continent, contributing to existing health service inequalities. According to WHO, untreated hearing loss…
The Federal Inland Revenue Service (FIRS) has notified taxpayers that the new gazette withholding tax regime will begin to take effect from the 1st of January 2025. In a notice signed by the Executive Chairman of the FIRS, Zacch Adedeji, the service noted that the current withholding tax regime as provided in the Company Income Tax (CIT) regulation would continue to remain in force until December 25th 2024. It further encouraged citizens to comply with regulations concerning tax payments. According to the notice, “The Federal Inland Revenue Service (“the Service”) hereby notifies taxpayers, tax practitioners, and the general public as…
The Coalition for Epidemic Preparedness Innovations (CEPI) a global health coalition, has disclosed that it has invested over $250 million in Lassa fever studies since 2017, to develop a vaccine for the disease. This investment was revealed by Gabrielle Breugelmans, Director of Epidemiology and Data Science at CEPI, during the inauguration of the Enable 1.5 cohort study in Abuja on Wednesday. Breugelmans highlighted CEPI’s comprehensive investment over the years. “This means investment in the vaccine trials, but also in the Enable research programme to really get critical data,” she stated, emphasizing the broad scope of their efforts to combat the…