Business August 12, 2024August 12, 2024

NASENI EVC/CEO Hosts Pi-CNG’s Ride-Share CNG Conversion Incentive Program

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… Offers 50% discount to drivers who sign up on MY-CNG App.

The Executive Vice Chairman/CEO of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu, at the weekend presided over the launch of the Presidential CNG Initiative’s (Pi-CNG) Conversion Incentive Program for rideshare sector, alongside the introduction of the MY-CNG App.

This landmark event took place at NASENI’s Compressed Natural Gas Engineering, Training, and Conversion facility in Utako, reflecting the Agency’s commitment to pioneering technology-driven solutions for Nigeria.

The event held at NASENI-Portland CNG Conversion Centre, Utako, Abuja, was graced by the Honourable Minister of State (Gas), Petroleum Resources, Hon. Ekperipe Ekpo, who served as the Special Guest of Honour, alongside Honorable Minister for Information and National Orientation, who was represented by the Director-General of Federal Radio Corporation of Nigeria (FRCN), Dr Muhammed Bulama and other ecosystem players.

In his remarks, the EVC/CEO of NASENI, Khalil Halilu emphasized the significance of Pi-CNG in Nigeria’s gas revolution, noting that the Initiative has quickly become central to discussions on the nation’s energy future.

“A little over two months ago, we commissioned this all-in-one CNG facility in partnership with Portland and Dana Motors. This joint venture is part of NASENI’s vision to accelerate the delivery of market-ready products that reduce the cost of living, improve quality of life, and support President Bola Ahmed Tinubu’s Renewed Hope Agenda,” he stated.

The Conversion Incentive Program, aimed at the rideshare sector, including Uber and Bolt drivers, offers a 50 per cent discount to drivers who sign up and use the newly launched MY-CNG App.

“CNG is a cleaner, more affordable vehicle fuel, with the potential to reduce transportation costs by up to 70 per cent and deliver 40 per cent savings for car owners,” the EVC/CEO explained. He stressed that this initiative is a response to the current economic challenges, offering a viable solution to reduce the cost of living for Nigerians.

Halilu also highlighted the importance of collaboration in achieving these milestones, commending partners Pi-CNG, Portland, and Dana Motors for their dedication. “Working together, we can and will transform Nigeria’s energy and transportation sectors,” he affirmed.

The launch of the MY-CNG App and the Conversion Incentive Program reflect NASENI’s commitment to leveraging technology to drive national transformation. The EVC/CEO concluded by reiterating NASENI’s role as a technology enabler, partnering with the private sector to bring innovative solutions to market and support national development goals, including energy efficiency, climate action, job creation, and poverty alleviation.

NASENI remains Nigeria’s leading technology-transfer agency, purposely-built to fostering innovation, research, and development to support the country’s industrial growth and economic sustainability.

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Businesses Decry Harassment and Multiple Regulatory Bottlenecks in Lagos

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Lagos manufacturers are raising their voices against the harassment and bottlenecks they face from multiple regulators and agencies in the state. The outcry follows a viral video showing a man destroying a delivery van loaded with sachet water, popularly called “pure water,” intended for a customer. The incident has sparked widespread criticism and concern among stakeholders in the business community.

One of the prominent voices speaking against this troubling trend is Engr. Roberta Edu, CEO of Moppets Baby Food, a Lagos-based infant food manufacturing firm. Reacting to the video, Edu described it as a reflection of the “huge regulatory gap” plaguing the Nigerian business environment.

“The viral video showing a man destroying sachet water in a van that was out for delivery highlights the huge regulatory gap we have in the country,” she lamented. “Now, NAFDAC has denied their involvement, and Lagos State Environment has also distanced themselves from this act.”

Edu…

Business Culture Economy Government December 3, 2024December 3, 2024

Proposed Tax Reform Sparks Nationwide Debate

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The recently proposed tax reform bills in Nigeria have stirred intense discussions among citizens and stakeholders. While some Nigerians commend the initiative as a step toward a fairer tax system, others express concerns about its potential economic impact. The bill, which introduces significant changes to the country’s tax structure, aims to implement a progressive tax regime that ensures individuals and businesses contribute to national revenue based on their earnings.

Under the proposed framework, individuals earning up to ₦800,000 annually will be exempt from paying taxes, providing relief to low-income earners. For those earning above this threshold, the tax rate gradually increases based on their income level. The next ₦2,200,000 of income will be taxed at 15%, followed by 18% for the subsequent ₦9,000,000. Higher earners will pay 21% on the next ₦13,000,000, while those with incomes exceeding ₦25,000,000 will face a 23% tax rate. For the wealthiest individuals with annual…

Business Fintech Society December 2, 2024December 2, 2024

CBN Mandates N50 Levy on Transfers Over N10,000: PalmPay Adapts to New Policy

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The Central Bank of Nigeria (CBN) has enforced a directive requiring financial institutions to impose a ₦50 Electronic Money Transfer Levy (EMTL) on transactions of ₦10,000 and above. The regulation, introduced in 2022, is gaining traction as financial institutions adjust to ensure compliance.

PalmPay, a leading fintech platform, has announced its alignment with this policy. Effective from November 30, 2024, transfers of ₦10,000 or more paid into PalmPay accounts will attract the ₦50 levy, as mandated by the Federal Inland Revenue Service (FIRS).

In a statement, PalmPay emphasized that it does not benefit from the levy, explaining that all proceeds are remitted directly to the federal government. The company reassured customers of its commitment to affordable financial services, stating, “PalmPay continues to offer unlimited free transfers to any bank account. We are dedicated to providing affordable and accessible financial services to our valued customers.”

This development reflects the growing impact of the…

Business December 1, 2024December 1, 2024

Governor Soludo Welcomes Apostolic Nuncio to Nigeria, Reflects on Irish Missionary Legacy

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The Governor of Anambra State, Prof. Charles Chukwuma Soludo, yesterday extended a warm reception to the newly appointed Apostolic Nuncio to Nigeria and Ambassador of the Vatican City, Most Rev. Michael Francis Crotty. The high-profile meeting took place at the Governor’s Lodge in Amawbia, underscoring the state’s deep-rooted connection to the Catholic Church and its leadership.

Most Rev. Crotty, an Irish prelate with a distinguished diplomatic career, was welcomed with open arms by Governor Soludo, who seized the occasion to honor the historic contributions of Irish missionaries to the growth of Christianity in Nigeria. The Governor spoke passionately about the invaluable sacrifices made by early church emissaries, particularly Irish priests, who dedicated their lives to spreading the gospel and establishing Catholic institutions across the eastern region of the country.

In his address, Governor Soludo highlighted the legacy of the Shanahan family and other Irish clergy, whose work laid the foundation for…

Business Economy Government November 30, 2024November 30, 2024

Nigeria Data Protection Commission (NDPC) and Hon. Adedeji Stanley Olajide Empower Over 1,000 Youths with Data Protection and Digital Literacy Training in Ibadan

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In an effort to equip Nigeria’s youth with essential knowledge on data protection and digital literacy, the Nigeria Data Protection Commission (NDPC), in collaboration with Hon. Adedeji Stanley Olajide, the Chairman of the House Committee on Digital and Information Technology, hosted a five-day training in Ibadan. The event, which saw over 1,000 young Nigerians participate, marks a significant milestone in the country’s push to promote digital awareness and data privacy practices.

Held across multiple locations in Ibadan, the training was designed to provide participants with a deeper understanding of how to protect their personal data in today’s digital world. The initiative is part of the NDPC’s ongoing efforts to raise awareness and build a data-conscious society, especially as more people engage with online platforms.

Representing the National Commissioner and CEO of the NDPC, Dr. Vincent Olatunji, Mrs. Abiola Jide-Abe, the Commission’s Head of Strategic Planning and Communication, shared the Commission’s strong…

Business Economy Gadgets Government Technology Technology Trends Telecoms November 30, 2024November 30, 2024

NCC Launches Licensing Framework for Application-To-Person (A2P) Services, Invites Stakeholder Participation

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The Nigerian Communications Commission (NCC) has officially rolled out its much-anticipated Licensing Framework for Application-To-Person (A2P) services, a move that promises to bring greater structure and transparency to the rapidly evolving telecom industry. The framework, which has been carefully crafted in line with the provisions of the Nigerian Communications Act (NCA) of 2003, was made available for public access on the Commission’s official website, www.ncc.gov.ng, as of November 29, 2024.

The A2P service model plays a crucial role in facilitating automated communication between businesses and their customers, typically for notifications, alerts, and marketing messages. This framework is designed to regulate how such services are delivered, ensuring that the process is seamless, efficient, and compliant with existing laws. By setting clear guidelines, the NCC aims to foster a more reliable and transparent ecosystem for both service providers and consumers.

In an effort to engage…

Autos Business Culture Economy November 30, 2024November 30, 2024

Peugeot 504: A Timeless Classic That Defined an Era

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First introduced in 1968, the Peugeot 504 has earned its place as one of the most iconic and enduring vehicles in automotive history. With production spanning over three decades, including localized manufacturing in some regions until 2006, the 504 left an indelible mark on the global car market. Known for its robust design, elegant styling, and versatility, it quickly became a symbol of reliability and class.

Available in multiple body styles—sedan, coupe, convertible, wagon, and pickup—the Peugeot 504 catered to a diverse range of drivers. Under the hood, the car offered a variety of engine options, from petrol to diesel, with capacities ranging from 1.8 to 2.7 liters. The diesel variants were particularly celebrated for their efficiency and durability, making the 504 a trusted companion in regions with challenging conditions, such as Africa and South America.

Business Economy Society Software Sponsored November 29, 2024November 29, 2024

NDPC Boss Advocates Data Protection Sustainability at KPMG Workshop

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Dr. Vincent Olatunji, National Commissioner and CEO of the Nigeria Data Protection Commission (NDPC), has called for sustainable and long-term practices in data protection to build trust and confidence in data processing activities. Dr. Olatunji made this call as the keynote speaker at a Data Protection Workshop organized by KPMG Advisory Services, where he presented a paper titled “Data Protection Sustainability and the Role of the Data Protection Officer (DPO).”

In his address, Dr. Olatunji commended KPMG for its efforts in organizing the workshop, describing it as aligned with the Commission’s strategic focus on awareness and capacity building. He noted the importance of distinguishing between privacy and data security, emphasizing the NDPC’s commitment to raising awareness on both fronts.

During his presentation, Dr. Olatunji outlined the fundamentals of data protection sustainability, focusing on: