Tag Archives: Muhammadu Buhari

Group calls on FG to shelve N179bn plan to set up ranches

A group known as the Southern and Middle Belt Leaders Forum has rebuffed the Federal Government’s plan to spend N179bn to set up ranches across the country for herdsmen in 10 years, starting with a N70bn budget under the President Muhammadu Buhari administration.

AFBTE, NUFBTE call on FG to rescind new excise duty rate increase on alcohol, tobacco set for June

Stakeholders in the food, beverage and tobacco sub-sector have called on the Federal Government to suspend its proposed increase on excise duty rates on alcoholic beverages and tobacco products which is set to go into effect on June 4, 2018.

The group said that it was with deep regret that the government was making plans to raise the excise duty rates at a time industry producers were experiencing declining volumes and contracting margins, noting that the effect of absorbing the cost of the new excise duty regime would be over-whelming on industry players.

Senate seeks suspension of proposed excise duty rate increase on locally produced alcoholic beverages

The Senate, on Tuesday called on the Federal Government to suspend the planned excise duty increase on locally produced alcoholic beverages set to go into effect on June 4th. The Upper Chamber of the National Assembly said that the increase which would raise the excise duty rate on alcoholic beverages from the current rate of 20% to 67% represents a 300% increase and should be suspended until there is a better understanding of the new policy by all stakeholders in the interest of the national economy.

NUFBTE chides FG’s new excise duty on alcoholic beverages, tobacco

The National Union of Food Beverage and Tobacco Employees (NUFBTE) has criticised the Federal Government and threatened to go on a labour strike over the planned increase on the excise duty rates for alcoholic beverages and tobacco.

While speaking at a meeting by the organised labour, President of NUFBTE, Lateef Oyelekan, said that more than 20,000 workers are presently employed in the alcoholic and tobacco sector and may lose their jobs if the amendment takes effect.

New excise duty rates on alcohol, tobacco too low – IMF

The International Monetary Fund (IMF) has said that the recently implemented excise duty rates for alcoholic beverages and tobacco products by the Federal Government of Nigeria were too low and instead should be higher to act as “a fail-proof revenue raising strategy.”

The World body is recommending a 100% increase in excise duty be slapped on the affected products to conform to global norms.

Tariffs on Alcohol, Tobacco to go up in June 2018 – Finance Minister

The Federal government has signed-off on the implementation of a new excise duty regime on alcoholic beverages and tobacco products as it seeks to raise government’s fiscal revenues.

President Muhammadu Buhari has approved an amendment to the excise tariff rates for alcoholic beverages and tobacco products which are slated to go into effect on 4th June 2018, the Minister of Finance, Mrs. Kemi Adeosun said on Sunday.

Nigeria Welcomes FIFA World Cup Trophy Tour

The much anticipated FIFA World Cup Trophy Tour arrived in Nigeria on Wednesday, with a first stop in Abuja, Nigeria’s capital and was received by the President, Muhammadu Buhari at the Presidential Villa. Also present at the welcoming ceremony were other stakeholders such as the President of the Nigeria Football Federation (NFF), Amaju Pinnick, Minister of Sports, Solomon Dalung, officials of the Coca-Cola Company including the Managing Director of Coca-Cola Nigeria Limited, Bhupendra Suri and his counterpart and Managing Director at the Nigerian Bottling Company (NBC), Georgios Polymenakos.

CPC gets new head in major agency shake-up

President Muhammadu Buhari has replaced the Director-General of the Consumer Protection Council (CPC) and 22 other Federal Government agencies in what appears to be a major agency shake-up.

The CPC was formerly headed by Mrs. Dupe Atoki, who earlier this week released the results of her agency’s investigation on the level of additives contained in soft drinks produced in Nigeria.

Buhari decries culture of agricultural waste in the country due to poor preservation, meets with Global CEO of FrieslandCampina

President Buhari shaking hands with Global CEO of FrieslandCampina, Roelof Joosten at State House, Abuja on Tuesday

President Muhammadu Buhari has lamented on the culture of waste in the country due to poor preservation of agricultural produce.

The President was speaking while meeting with the Global Chief Executive Officer of Royal FrieslandCampina of the Netherlands, Mr. Roelof Joosten, at State House, Abuja on Tuesday.