UPDATED: Manufacturers list conditions to slash rising cement price
Photo Credit: Punch Newspaper
Cement Manufacturers have agreed to sell a 50kg bag of cement at a retail price between N7,000 and N8,000, depending on location nationwide, The PUNCH reports.
However, the manufacturers stated that the price drop from the current market price would depend on the fulfillment of certain government interventions to ameliorate critical challenges faced in the industry.
The Minister of Works, Dave Umahi, announced after a meeting with leading cement manufacturers on Monday in Abuja adding that Nigerians will feel the impact in 30 days.
The meeting was against the backdrop of the ballooning price of the commodity to approximately N13,000 in several retail stores in the Federal Capital Territory, and Enugu, indicating the impact of inflation within the country.
Photo Credit: Google
JUST IN: Tinubu returns to Abuja after AU Summit
Photo Credit: Punch Newspaper
Nigeria's President Bola Tinubu has arrived in Abuja after attending the 37th Ordinary Session of the Assembly of the African Union Heads of State and Government.
NAF 001 pulled up at the Presidential Wing of the Nnamdi Azikiwe Int'l Airport at about 04:00 pm local time, concluding his 15th foreign trip since assuming the Presidency nine months ago, and logging 73 days abroad.
Tinubu was received by top government officials including his Chief of Staff, Femi Gbajabiamila; Secretary to the Government of the Federation, George Akume; National Security Adviser, Nuhu Ribadu and the Minister of State for Defense, Bello Matawalle.
Also on the receiving line were the Imo Governor, Hope Uzodinma; the Director-General of the Department of State Service, Yusuf Bichi, among others.
NAFDAC, PCN raid, seal 1,321 patent medicine outlets in Kano
Photo Credit: Punch Newspaper
The National Agency For Food and Drug Administration and Control in collaboration with the Pharmacist Council of Nigeria on Monday raided and sealed not less than 1,321 patent medicine outlets in Sabon Gari open market in Kano.
The joint team of regulators enforcement operations came 72 hours after the Federal High Court ordered the drug dealers to vacate their open market premises and relocate to the Coordinated Wholesale Centre, at Dangwauro village on Zaria road in the state.
While briefing newsmen on Monday, the NAFDAC Director of Investigation and Enforcement, Mr. Francis Ononiwu, explained that the closure was part of exercising its mandate to sanitise unwholesome pharmaceutical practices by the dealers.
According to Mr. Ononiwu, over the years, the patent medicine traders have constituted an imminent threat to public health following the distribution of unwholesome pharmaceutical products to unsuspected members of the public.
Senate kicks against N17tn loss to tax waivers
Photo Credit: Punch Newspaper
The Senate, through its Committee on Finance, on Monday frowned at the N17tn loss incurred by the country on tax waivers within the last five years.
It consequently urged the Federal Inland Revenue Service, to suspend the tax waivers being largely abused and substitute it with a rebating system.
The Senate's objection to the allegedly abused tax waivers came to the fore during the 2024 budget presentation of FIRS to its committee on Finance.
Similarly, the Chairman of FIRS, Zacch Adedeji who projected N19.4tn as the targeted total tax collection for 2024, insisted that the fresh N2.7tn Tax Credit planned for road construction in the country by the Central Bank of Nigeria, should be stopped.
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