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Dangote named most tax complaint business organizations by FIRS

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L- R, Dangote Ports Managing Director, Akin Omole, Dangote Industries ltd, Group Head, Strategic Tax & Compliance, Dr.Titilayo Fowokan, receiving the Federal Inland Revenue Service(FIRS)’s Most Compliant Taxpayer Award from the FIRS Director, Tax Payers Service Department, Dr. Loveth Onanuga; FIRS Tax Controller Large Taxpayers Office, Ikeja Lagos, Abisola Olabiyi; FIRS State Administration Lagos Mainland, Ishola Akingbade,at the presentation of the award in Lagos at the weekend.

It was a season of award at the weekend for the Dangote Group and its subsidiaries following their recognition as best Nigeria’s best compliant tax payer business organization and FMDQ Gold award winner for being the most active corporate organization in the foreign exchange market.

Dangote Indusries Limited (DIL) and Bluestar Shipping, a subsidiary, were recognized as the most compliant in tax payment in the country ahead of the MTN Communication while the country’s leading cement manufacturer, Dangote Cement Plc at another occasion won three awards at the FMDQ Gold Awards held in Lagos.

During the Special Day of the Federal Inland Revenue Service (FIRS) at the just concluded Lagos International Trade Fair, the nation’s tax regulators adjudged Dangote Industries Limited as the most compliant taxpayers in Nigeria.

In another development, Dangote Cement Plc emerged as the Largest Commercial Paper Quotation on FMDQ and Single Largest Corporate Debt Issue on FMDQ. Dangote Industries Ltd also emerged as the “Most active corporate in the foreign exchange market”.

The FMDQ GOLD Awards, (Global Competitiveness, Operational Excellence, Liquidity and Diversity), is a corporate tradition that recognises the resilience and agility of the Nigerian financial markets’ participants.

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The award acknowledges the valuable efforts of these stakeholders, whose participation in the FMDQ markets and across the financial market infrastructure value chain of FMDQ’s businesses – Securities Exchange, Central Counterparty and Depository – have positively shaped the course of the markets and invariably impacted the development of the Nigerian economy.

Two companies from the Dangote stable, Dangote Cement and Blue Star Shipping were recognised at the weekend by the Federal Inland Revenue Service (FIRS) as being among the most compliant taxpayers. As part of its Special Day activities at the 2024 Lagos International Trade Fair, the FIRS celebrated several business organisations for their high levels of tax compliance.

Dangote Cement was recognised in the biggest taxpayer category in the part of the programme tagged “FIRS compliant taxpayers awards and recognition”. Several speakers at the event including FIRS State Administration Lagos Mainland, Ishola Akingbade, who represented the Chairman of FIRS commended these companies for their high levels of compliance which makes tax administration easy.

Head of Tax Compliance at Dangote Industries Ltd, Dr. Titi Fowokan speaking on the journey leading to the recognition by FIRS  stated that “Dangote as a Group has a Tax Policy that is based on zero tolerance for tax non-compliance. As good corporate citizens, we comply with all relevant laws, including tax laws. Also, complying with the tax payment statutory deadlines ensures that we do not fall foul of the law, which stipulates penalties for non-compliance.”

We pride ourselves in the Dangote Brand and seek to promote a tax compliance culture, which demonstrates our corporate responsibility to the government for the provision of public goods and services for the citizens”, she added.

Fowokan explained that the company as part of steps to achieve compliance maintained its best practice tax governance culture, ensured ⁠accurate tax computation and timely remittance to avoid penalties & interest arising from tax compliance defaults. She affirmed that these steps helped to minimise tax audit risks & avoid incidence of tax litigations.

Dangote Industries Limited (Dangote Group) is one of Africa’s largest industrial conglomerates. It is a diversified and fully integrated conglomerate. It has been a key investor in the Nigerian economy. The Group’s interests include cement, sugar, salt, fertiliser, agriculture, transport, packaging and real estate, the oil and gas, petrochemical, and steel sectors of the economy.

The core business focus of the Group, which started operations in 1978, is to provide local, value-added products and services that meet the ‘basic needs’ of the populace. Through the construction and operation of large-scale manufacturing facilities in Nigeria and across 17 other African countries, Dangote Group is focused on building local manufacturing capacity to generate employment, prevent capital flight and provide locally produced goods for the people.

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Atmosfair Climates & Sustainability Donates Solar-Powered Boreholes to Three Communities

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Atmosfair Climates & Sustainability, the makers of the innovative Save 80 Energy Efficient Clean Cook Stove, has reinforced its commitment to sustainable community development by donating solar-powered boreholes to three local communities in Kano, Jigawa, and Yobe States. This generous initiative, in collaboration with the National Agency for the Great Green Wall (NAGGW), aims to address the acute shortage of clean drinking water in these areas.

The benefiting communities include Nayi Nawa Bukka Shida in Nguru Local Government, Yobe State; Dan Tanoma Village in Gumel Local Government, Jigawa State; and Massalacin Juma’a Y’an Garki in Dakata, Nasarawa Local Government, Kano State.

The solar-powered boreholes are intended to provide a reliable and eco-friendly source of clean water, mitigating the risks associated with water-borne diseases. By addressing water scarcity, Atmosfair is also helping to reduce the time women and children spend collecting water from distant sources, thus allowing more time for education and economic activities. This initiative aligns with the NGO’s mission to promote environmental sustainability, improve health, and empower local communities.

Speaking at the commissioning ceremony, Alhaji Abdurahman Bawa, Director of Government Relations at Atmosfair Climates and Sustainability, highlighted the donation as part of the company’s broader corporate social responsibility commitment. “By harnessing solar energy, this project not only provides clean water to humans and animals but also promotes the use of renewable energy, aligning with global efforts to combat climate change,” Bawa stated.

According to Bawa, “At the local level, we are dedicated to making a positive impact in the communities we serve. Access to clean water is a basic human right, and we are proud to support the communities with this solar-powered borehole,” he added.

Community leaders, including Alhaji Lawan Ya’u Abdullahi, Chairman of Gumel Local Government, Jigawa State, expressed their gratitude and praised the two agencies for their dedication to community development. He urged his community members to take proper care of the project and emphasized the importance of sustainable solutions for long-term benefits. “The solar-powered borehole will make a huge difference to our daily lives, providing easy access to clean water,” Lawan added.

In his address to the communities, Engr. Ahmed Bagudo, Director of Forestry and Land Management at the National Agency for the Great Green Wall, introduced a climate-friendly cook stove as part of efforts to curb deforestation and protect women from the health implications of over-dependence on firewood. “We cook in our homes daily, and the methods we use to cook affect our health due to smoke inhalation and environmental pollution,” Bagudo explained.

Engr. Orezi Emeotu, Policy Manager, and Engr. Abdulrasheed Ahamad Imam, Sales and Business Development Manager for Atmosfair Climates and Sustainability, explained that the cook stove, a product of Atmosfair, is being produced by its Nigerian subsidiary. Atmosfair, a non-profit organization, actively contributes to CO2 mitigation by promoting, developing, and financing renewable energies.

This donation exemplifies Atmosfair’s holistic approach to climate change mitigation and adaptation, demonstrating its dedication to creating a healthier, more resilient future for vulnerable communities.

 

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KEDCO Says It’s Building 100MW Safe Grid to Protect Consumers from Grid Collapses

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Kano Electricity Distribution Company (KEDCO) is pleased to announce a partnership and initial investment of around $100 million to develop a 100MW “Safe Grid” for Kano, Katsina, and Jigawa States, to provide 24-hour power supply to key industries, commercial hubs, and critical government infrastructure, eliminating reliance on the national grid.

This was contained in statement signed by Head of corporate communications KEDCO Sani Bala Sani and made available to newsmen.

He said due to the lingering effects of the challenges the Transmission Company of Nigeria (TCN) is currently facing in supplying energy to our franchise area, KEDCO is still receiving less than half of its allocation from the grid, which has caused great disruptions for our valued customers, institutions, and businesses while challenging our company’s financial performance

Sani said the ‘Safe Grid’ will be powered by embedded electricity generation in KEDCO’s network to ensure energy security within the network and eliminate the risks associated with absolute dependence on the grid such as unreliability and total blackouts, enabling key industries and socio-economic activities to thrive in Kano, Katsina, and Jigawa States while safeguarding jobs and competitiveness in our network.

This project will build the first 20MW power plant (of the 100MW) with Utilita under an Emergency Project valued at $20 million that will be operational by the end of the year to begin supply for the “Safe Grid”. The Generation units are already available and KEDCO is accelerating project development ahead of installation and commissioning in the Tamburawa area. KEDCO will also purchase electricity for the “Safe Grid” from the 10MW Haske Solar Power Plant (built by the Nigerian Sovereign Investment Authority (NSIA) and the Ministry of Finance Incorporated (MOFI) and from the 16MW combined capacities from Tiga and Challawa Hydroelectric power projects built by the Kano State Government, bringing the total initial supply in the ‘Safe Grid’ to 46MW.

Furthermore, KEDCO is discussing with the Federal Ministry of Power to take over and complete the 10MW Katsina Wind Farm project and supply it into the ‘Safe Grid’. A further 54MW will be supplied through additional power plant projects using Gas and Solar. A new parallel distribution grid architecture is being built to take this ‘Safe Grid’ to all key locations and supply areas in the Franchise Area (Kano, Katsina, and Jigawa) starting from Kano State. ‘Safe Grid’ is already connecting the Dawanau International Grain Market through a dedicated 40km line (90% completed), conceived and executed by KEDCO and its core investor – Future Energies Africa (FEA).

KEDCO is engaging and partnering with the State Governments to determine the “Safe Grid” supply locations that will ensure the most economic value for its citizens, focusing on enhancing and securing jobs in industries, agro-processing, and commercial hubs, and safeguarding supply to critical Government Infrastructure. The Administration of their Excellencies – Abba Kabir Yusuf, Dikko Radda, and Umar Namadi (and their respective State Assemblies) have been great supporters of the ongoing turnaround programme in KEDCO. We plan to continue partnering with the State Governments to provide an enabling environment and to accelerate laws for the first Joint Electricity Regulation structure in the country across the 3 States. This will enable KEDCO to power the “Safe Grid” for the benefit of the 3 States from any of the power plants being built in the embedded network.

The “Safe Grid” will complement the ongoing “Utility 2.0” project earlier announced and being embarked on with 31 key developers to build 60MW of mini-grids. Developer partners in Uility 2.0 include Bagaja, Elektron, Paras, Grid Crux, Strom, Prado, Axxela, Bayshore, and Husk (amongst others).

Interestingly, as Bagaja has already commenced building projects in Charanci (Katsina) and Kafin Hausa (Jigawa) KEDCO is encouraging “Utility 2.0” developers to accelerate the pace of their projects in light of the lingering supply constraints in our network.

To foster reliability and affordability, KEDCO currently has the most competitive industrial Band A rates in the country with its partnership with the Manufacturers Association of Nigeria (MAN) branches in our States and still intends to maintain competitive rates with ‘Safe Grid’ through competitive bilateral grid contracts for the benefit our valued customers.
KEDCO is excited to be the first DisCo to offer 24-hour supply through the ‘Safe Grid’ initiative and ascribes to the visions of our State Governors in making our franchise area attractive for industrial and agro-processing businesses to provide the jobs needed to improve the economies of the region, in which stable power is crucial.
Our vision is to enable re-industrialization and socio-economic empowerment of our franchise area through safe, stable, and cost-competitive electricity supply, keenly focused on our customers’ satisfaction. Thus, we encourage all Electricity Supply (and Gas Supply Companies) working in our network to partner with us in providing more affordable electricity rather than operating in isolation leading to higher costs for consumers.

We remain committed to improving electricity supply and associated services. To achieve this, we urge strong collaboration with all stakeholders to achieve this goal of providing electricity for all.

 

 

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Atiku Abubakar Criticizes President Tinubu’s Policies, Accuses Administration of Worsening Nigerians’ Lives

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Former Vice President Atiku Abubakar has fired back at President Bola Tinubu’s policies, accusing them of worsening the lives of ordinary Nigerians.

In a statement from his spokesperson, Phrank Shaibu, Atiku argued that instead of targeting opposition figures, Tinubu should focus on governing effectively to ease the hardships faced by millions across the country.

Shaibu in his statement on Monday said that Atiku cannot be jealous of Tinubu for inflicting pain on Nigerians, stressing, “wickedness is an exclusive preserve of T-Pain!”

Shaibu said that unlike Tinubu, “Atiku is not a bigot, refunded money to the US for alleged drug trafficking”

Atiku’s comments on Monday were a direct response to a recent statement from the Presidency, which accused him of criticizing Tinubu out of jealousy. However, Atiku insisted his concerns are solely about the well-being of Nigerians, not personal rivalry.

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Atiku cited Tinubu’s unfulfilled promise from July 2024 to temporarily remove import duties on essential goods. According to Atiku, nearly 120 days have passed, yet the government has not implemented this relief measure. This delay, he said, has contributed to record-high inflation, with food prices skyrocketing over 40% in recent months, marking one of the worst inflationary periods in Nigeria’s recent history.

He said, “On July 8, 2024, Tinubu announced that import duty on essential goods like food would be lifted for 150 days.

“But over 120 days later, the policy is yet to take off, while Nigerians continue to die daily due to increasing costs, including food inflation, which now exceeds 40%, the highest in decades.

“The brazen disobedience to a government policy by Tinubu’s appointees and the failure of the finance ministry to issue a gazette after over four months reflects the fatuousness, inanity and the incompetence that characterizes the Tinubu administration.

“Sadly, rather than focus on governance, they are preoccupied with verbally assaulting their opponents – Atiku Abubakar and Peter Obi – while using compromised courts to foster crisis in the opposition. What a shame!”

Atiku accused Tinubu’s appointees of disregarding government orders, and he criticized the finance ministry for failing to enact policies promptly. “This administration is marked by poor coordination and incompetence,” he said. “Rather than addressing these issues, the government is busy attacking opposition leaders, including myself and Peter Obi.”

The former Vice President also condemned what he described as inconsistency in Tinubu’s economic policies.

Since taking office, Atiku argued, Tinubu has taken actions without carefully assessing the consequences, leading to confusion and hardship for citizens. He highlighted the abrupt removal of the petrol subsidy, which led to a surge in transportation costs and inflation without adequate alternative solutions in place.

Atiku also criticized Tinubu’s Compressed Natural Gas (CNG) initiative, aimed at reducing fuel prices. The program, he said, has barely taken off due to limited gas infrastructure across Nigeria. “Even Tinubu and his ministers have not adopted CNG for their own transport,” Atiku said. “This policy has done nothing to curb the rising cost of transportation.”

Atiku further pointed out Tinubu’s unrealistic projections for the naira’s value, claiming that the administration has misled the public about the country’s foreign reserves. He challenged the government to release the Central Bank’s 2023 financial statements to provide transparency.

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