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Tag: FG

  • FG Announces VAT Exemptions for Diesel, LNG, CNG, and Electric Vehicles

    FG Announces VAT Exemptions for Diesel, LNG, CNG, and Electric Vehicles

    The Federal Government has announced value-added tax (VAT) exemptions on several key energy products, including diesel, Liquefied Natural Gas (LNG), Compressed Natural Gas (CNG), and electric vehicles, in an effort to reduce prices and enhance energy security, Okay.ng reports.

    This was revealed in a statement on Wednesday by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. The exemptions are part of broader measures aimed at easing the cost of living and accelerating Nigeria’s transition to cleaner energy sources.

    “The VAT Modification Order 2024 introduces exemptions on a range of key energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment,” the statement read.

    Edun emphasized that the initiative is also designed to drive Nigeria’s shift to cleaner energy sources while lowering the financial burden on citizens.

    In addition to VAT exemptions, the Minister also announced tax incentives for deep offshore oil operations and gas production through the Oil & Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order 2024. These incentives are expected to position Nigeria’s deep offshore basin as a leading destination for global oil and gas investments.

    “These reforms are part of a broader series of investment-driven policy initiatives championed by His Excellency, President Bola Ahmed Tinubu, in line with Policy Directives 40-42,” Edun added.

    “They reflect the administration’s strong commitment to fostering sustainable growth in the energy sector and enhancing Nigeria’s global competitiveness in oil and gas production.”

  • Candidates Under 18 Years Won’t Be Allowed to Write WAEC, NECO – FG

    Candidates Under 18 Years Won’t Be Allowed to Write WAEC, NECO – FG

    The Minister of Education, Tahir Mamman, has announced that candidates under the age of 18 will no longer be permitted to sit for secondary school leaving examinations in Nigeria.

    This decision, aimed at enforcing the 18-year age requirement, was communicated during his appearance on Channels TV’s Sunday Politics programme.

    According to Mamman, the Federal Government has instructed the West African Examinations Council (WAEC) and the National Examinations Council (NECO) to comply with the directive.

    Effective immediately, only candidates who are at least 18 years old will be eligible to take the West African Senior School Certificate Examination (WASSCE) and the Senior School Certificate Examination (SSCE).

    The minister also reaffirmed the age limit for the Unified Tertiary Matriculation Examination (UTME), administered by the Joint Admissions and Matriculation Board (JAMB), stating that candidates must be 18 years or older to be eligible.

    “It is 18 (years). What we did at the meeting that we had with JAMB (in July) was to allow this year and for it to serve as a kind of notice for parents that this year, JAMB will admit students who are below that age but from next year, JAMB is going to insist that anybody applying to go to university in Nigeria meets the required age which is 18,” Mamman explained.

    He emphasized that this is not a new policy but rather a reminder of existing regulations.

    “Even basically if you compute the number of years pupils, and learners are supposed to be in school, the number you will end up with is 17 and a half – from early child care to primary school to junior secondary school and then senior secondary school. You will end up with 17 and a half by the time they are ready for admission,” he said.

    “So, we are not coming up with new policy contrary to what some people are saying; we are just simply reminding people of what is existing.

    “In any case, NECO and WAEC, henceforth will not be allowing underage children to write their examinations. In other words, if somebody has not spent the requisite number of years in that particular level of study, WAEC and NECO will not allow them to write the examination.”

  • ASUU Issues 14-Day Strike Ultimatum to FG Over Lingering Issues

    ASUU Issues 14-Day Strike Ultimatum to FG Over Lingering Issues

    The Academic Staff Union of Universities (ASUU) has issued a 14-day ultimatum to the Federal Government to address several unresolved issues, some of which date back as far as 2009, or face a potential strike, Okay.ng reports.

    In a statement issued on Wednesday, Emmanuel Osodeke, ASUU President, outlined the union’s demands, including the conclusion of the renegotiation of the 2009 FGN/ASUU Agreement based on the Nimi Briggs Committee’s Draft Agreement of 2021.

    The union also called for the release of withheld salaries following the 2022 strike action and expressed frustration over what it termed as the government’s delay tactics.

    ASUU warned that the government’s inaction was worsening the crisis in Nigeria’s public university system.

    “In view of the foregoing, ASUU resolves to give the Nigerian Government another 14 days, in addition to the earlier 21 days, beginning from Monday, September 23, 2024, during which all the lingering issues must have been concretely addressed to the satisfaction of the membership of the union,” the statement read.

    ASUU made it clear that the union should not be blamed for any industrial action that could arise if the government fails to meet its demands.

    Among ASUU’s key demands are:

    • Payment of withheld salaries for staff on sabbatical, part-time, and adjunct appointments affected by the Integrated Payroll and Personnel Information System (IPPIS).
    • The release of third-party deductions, including check-off dues and cooperative contributions.
    • Funding for the revitalization of public universities, as partly captured in the 2023 Federal Government Budget.
    • The payment of Earned Academic Allowances.
    • Addressing the proliferation of universities by federal and state governments.
    • Implementing the recommendations of visitation panels to universities.
    • Reversing the illegal dissolution of Governing Councils.
    • Adopting the University Transparency and Accountability Solution (UTAS) as a replacement for the controversial IPPIS system.