Business

NDPHC Develops 16 Injection Sub-Stations In N’East

Published

8 years ago

May 16, 2018

The Niger-Delta Power Holding Company (NDPHC) has constructed and handed over 16 injection distribution sub-stations to Yola DisCo to further boost electricity supply to Nigerians in the North-East zone.
The Managing Director of NDPHC, Mr Chiedu Ugbo, disclosed this in Yola when he visited the Gov. Bindo Jibrilla of Adamawa.
Ugbo, who briefed the governor on the workings and various activities of NDPHC, said the company had also completed nine intervention electricity distribution projects across the region.
The managing director said NDPHC had been involved in developing National Integrated Power Project (NIPP) in generation, transmission and distribution value chain in the country.
He also said NDPHC had also embarked on the development of solar electricity for households, adding that the company had successfully deployed about 20,000 units of solar technology in the first phase of the project.
Ugbo revealed that the completed 16 injection sub-stations, comprising 1×7.5MVA 33/11KV and the intervention projects, had been handed over to Yola DisCo to boost supply of electricity to its customers in the region.
He listed the locations of the projects to include Mubi, Numan, Jabbi, Konar, Girei, Gashua, old power house, SPY, Dumne, Dima and Tinde Laro in Adamawa.
For Yobe, he said that the projects were sited in Potiskum, Damaturu, while Taraba and Gombe had theirs in Wukari, Jalingo , Riyal and Bauchi road.
For Borno and Bauchi states, he said the projects were stationed in Bama, Biu, Gombe road, and Misau road.
He said work was, however, slowed down for security reasons for the injection sub-station in Bama.
Ugbo further listed the intervention projects to include supply and delivery of transformers and distribution materials required for reconstruction and rehabilitation of vandalised power facilities in Maiduguri.
Rehabilitation of Damaturu-Buni-Yadi Gulani 33Kv Line and replacement of damaged transformer in Guijba and Gulani in Yobe and rehabilitation of 26.5Km 33kV injection sub-station with associated 11Kv line networks at Nguru.
According to Ugbo, the company has also extended electricity supply to three communities in Song Local Government of Adamawa.
“For Bauchi, the company intervened by constructing a 33KV LT lines, supplied and installed distribution transformers in eight communities in Tafawa Balewa/Bogoro council areas.
“It also extended electricity supply to four communities in the council areas.”
Ugbo also noted that other generation, transmission and distribution projects had been completed, while some were still under construction across the country, saying that NDPHC did not have any abandoned projects in the country.
He, however, decried the non utilisation of some of the completed distribution infrastructure by some DisCos, adding that the situation was resulting in the deterioration and vandalism of the infrastructure.
“There were projects that were completed before now that were not taken over by the DisCos, but we have gone to them and said to them, we can’t leave these projects idle.
“The projects were being vandalised , some of the parts are being stolen; we need you to start using this project to supply the communities light and they have come to say yes.
“We are approaching the DisCos one by one, saying, these are the projects; accept this project, and we are also carrying out repairs on the vandalised projects and paying for securing the projects.”
Jibrilla, represented by the Deputy Governor, Mr Martins Babale, said it was cheery that Adamawa was part of the board of NDPHC representing the North-East.
He said the state government was committed to infrastructure development in education, health, among other sectors, for the well being of the people.
He, however, said electricity was required to boost the various developmental initiatives of the government hence the need to work with NDPHC to further develop electricity infrastructure in the state and in the region.
He urged NDPHC to develop more power infrastructure in the region, adding that it would partner the company in solar energy development.
The News Agency of Nigerian (NAN) reports that the management of NDPHC had begun the visit to board members in all the six-geo political zones to brief them on activities of the company.
The team had visited the governors representing South-East, North West and North-East on the board of the company with three more regions to visit.
One recurring remark and response from the governors and their representatives in the zones visited was a call for more projects in generation, transmission and distribution in their states and regions.

Business

FIRS Clarifies New Tax Laws, Debunks Levy Misconceptions

Published

1 day ago

December 5, 2025

The Tide

The Federal Inland Revenue Service has said that Nigeria’s newly enacted tax laws are designed to strengthen economic competitiveness, attract investments, and improve long-term fiscal stability.

The agency also clarified that the much-debated four per cent development levy on imported goods is not a new or additional tax burden, but a streamlined consolidation of several existing levies.

According a statement released Wednesday, one of the most misunderstood elements of the new tax framework is the four per cent development levy with the agency explaining that the levy replaces a range of fragmented charges — such as the Tertiary Education Tax, NITDA Levy, NASENI Levy and Police Trust Fund Levy — that businesses previously paid separately.

This consolidation, it said, reduces compliance costs, eliminates unpredictability and ends the era of multiple agency-driven levies. The law also exempts small businesses and non-resident companies, offering protection to firms most vulnerable to economic shocks.

Another major clarification relates to Free Trade Zones. Earlier commentary had suggested that the government was rolling back the incentives that have attracted export-oriented investors for decades. However, the reforms maintain the tax-exempt status of FTZ enterprises and introduce clearer guidelines to preserve the purpose of the zones.

“Under the new rules, FTZ companies can sell up to 25 per cent of their output into the domestic market without losing tax exemptions. A three-year transition period has also been provided to allow firms to adjust smoothly.

“Government officials say the reforms aim to curb abuses where companies used FTZ licences to evade domestic taxes while competing within the Nigerian market”, it said.

With the new measures, Nigeria aligns with global FTZ models in places like the UAE and Malaysia, where the zones function primarily as export hubs for logistics, manufacturing and technology.

The introduction of a 15 per cent minimum Effective Tax Rate for large multinational and domestic companies has also been met with public concern. But the FIRS notes that this policy aligns with a global tax agreement endorsed by over 140 countries under the OECD/G20 framework.

Without this adoption, Nigeria risked losing revenue to other countries through the “Top-Up Tax” mechanism, where the home country of a multinational collects the difference when a host country charges below 15 per cent. By localising the rule, Nigeria ensures that tax revenue from multinational operations remains within its borders.

Business

CBN Revises Cash Withdrawal Rules January 2026, Ends Special Authorisation

Published

1 day ago

December 5, 2025

The Tide

The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, discontinuing the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly, with effect from January 2026.

In a circular released Tuesday, December 2, 2025, and signed by the Director, Financial Policy & Regulation Department, FIRS, Dr. Rita I. Sike, the apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.

However, with time, the need has arisen to streamline these provisions to reflect present-day realities.

The statement said the new set of cash-related policies is designed to reduce the cost of cash management, strengthen security, and curb money laundering risks associated with the economy’s heavy reliance on physical currency.

“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.

“With the effluxion of time, the need has arisen to streamline the provisions of these policies to reflect present-day realities,”

“Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 million”, it said.

According to the statement, withdrawals above these thresholds would attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.

Daily withdrawals from Automated Teller Machines (ATMs) would be capped at N100,000 per customer, subject to a maximum of N500,000 weekly stating that these transactions would count toward the cumulative weekly withdrawal limit.

The special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly has been discontinued.

The CBN also confirmed that all currency denominations may now be loaded in ATMs, while the over-the-counter encashment limit for third-party cheques remains at N100,000. Such withdrawals will also form part of the weekly withdrawal limit.

Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.

They must also create separate accounts to warehouse processing charges collected on excess withdrawals.

Exemptions and superseding provisions
Revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.

However, exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.

The CBN clarified that the circular is without prejudice to the provisions of certain earlier directives but supersedes others, as detailed in its appendices.

Business

Shippers Council Vows Commitment To Security At Nigerian Ports

Published

2 days ago

December 5, 2025

The Tide

The Nigerian Shippers Council (NSC)has restated its commitment towards ensuring security at Nigerian seaports.

Executive Secretary/Chief Executive Officer of the Council, Dr Pius Akuta, said this in Port Harcourt, while declaring open a one day workshop organized by the Nigerian Shippers Council in collaboration with the Nigerian police( Marin Division).

Theme for the workshop was ‘Facilitating Port Efficiency; The strategic Role of Maritime police “

Akuta who was represented by the Director, Regulatory Services, Nigerian Shippers Council, Mrs Margeret Ogbonnah, said the workshop was to seek areas of collaboration with security agencies at the Ports with a view to facilitating trade

Akuta said the theme of the workshop reflects the desire of the council and the Nigerian police to build capacity of police officers for better understanding and administration of their statutory roles in the Maritime environment.

He said Nigerian seaports has constantly been reputed as one of the Port with the longest cargo dwell in the world, adding,”This is so, because while it takes only six hours to clear a containerized cargo in Singapore Port, seven days in Lome Port, it takes an average of 21 days or more in Nigerian Ports” stressing that this situation which has affected the global perception index on Ease of Doing Business in Nigerian seaports must be addressed.

Akuta said NSC which is the economic regulator of the Ports has the responsibility of ensuring that efficiency is established in the Ports inorder to attract patronages.

“Pursuant to its regulatory mandate, the NSC has been collaborating with several agencies to ensure the facilitation of trade and ease of movement of cargo outside the Ports to avoid congestion”he said.

Also speaking the commissioner of police, Eastern Port Command, Port Harcourt, CP Tijani Fakai, said Maritime police has played some roles in facilitating Ports efficiency.

He listed some of the roles to include ensuring security and crime prevention at the Ports, checking of illegal fishing activities at the Ports, checking of human trafficking and drug smuggling and prevention of fire incident at the Ports.

Represented by ACP, Rufina Ukadike, the CP said police at the Ports have also helped in the decongestion and prevention of unauthorized Anchorage.

He commended the Nigerian Shippers Council for the workshop and assured of continuous collaboration.

Speaking on the dynamics of cargo handling, Deputy Controller of customs, Muhydeen Ayinla Ayoola, said the launching of electronic tracking system and dissolution of controller General Taskforce has helped to ensure efficiency at the Ports.

Ayoola who represented the custom Area Controller Port Harcourt 1 Area command, however raised concerned over rising national security threat , which according to him has affected efficiency at the Ports.

John Bibor