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Nigeria Risks Losing $34bn In Annual Export Earnings – Report 

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A new study by Standard Chartered says Nigeria risks losing $34.3 billion in annual export earnings if it does not cut carbon emissions in line with the net-zero plans of the biggest multinational companies (MNCs) operating in the country.
The study, titled ‘Carbon Dated’, was done by surveying 400 sustainability and supply chain experts at multinational companies across the globe.
It assessed risks and opportunities for suppliers in emerging and fast-growing markets as large companies transition to net zero.
According to the survey, if Nigeria fails to transition alongside its multinational company  partners, it risks a loss in export revenues of up to $34.3bn.
Other countries on the list were China, with the biggest potential loss of $512.3bn; India ($273.7bn) and Hong Kong ($205.5bn).
South Africa is the second highest African country after Nigeria with $33.7bn of exports at risk. Kenya is the third African nation on the list with $3.9bn in potential export loss.
The study also said the current approach taken by the multinational companies could create a $1.6tn opportunity for the net-zero club, which are the businesses reducing emissions in line with multinational companies’ net-zero plans.
It was said that the results represented a major opportunity for net-zero-focused suppliers across the 12 markets in the study, but also quantified the potential losses to companies not embracing the zeri-net transition. 
According to the report, multinational companies are exploring other ways to help their suppliers’ transition to net zero. Some 47 per cent of them are offering preferred supplier status, identified as a sales advantage to sustainable suppliers, and 30 per cent are offering preferential pricing.
Some multinationals were said to be going further by offering grants or loans to their suppliers to invest in reducing emissions at about 18 per cent, for data collection; about 13 per cent, and others said they would pay a premium of seven per cent on average for a product or service from a net-zero supplier.
The Group Chief Executive of Standard Chartered, Bill Winters, said, “It’s no surprise that as multinational companies transition to net-zero, they are starting to look to their suppliers to help. However, suppliers, especially those in emerging and fast-growing markets, cannot go it alone.
“MNCs need to incentivise their suppliers to help them kick start their transition journey, but governments and the financial sector have a role to play too by creating the right infrastructure and offering the necessary funding.”
The Chief Executive Officer for Standard Chartered South Africa and Southern Africa, Kweku Bedu-Addo, said, “There is growing acceptance that decarbonisation is vital for the future of the planet to remain hospitable as we have known it for millennia”.

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FG Ends Passport Production At Multiple Centres After 62 Years

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The Nigeria Immigration Service has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.

Minister of Interior, Dr Olubunmi Tunji-Ojo, disclosed this yesterday while inspecting Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja.

He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.

“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.

He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.

“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.

 “We promised two-week delivery, and we’re now pushing for one week.

“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.

He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.

Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.

He said the centralised production system aligned with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for better service delivery.

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FAAC Disburses N2.225trn For August, Highest In Nigeria

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The Federation Account Allocation Committee (FAAC) has disbursed N2.225 trillion as federation revenue for the month of August 2025, the highest ever allocation to the three tiers of government and other statutory recipients.

This marks the second consecutive month that FAAC disbursements have crossed the N2 trillion mark.

The revenue, shared at the August 2025 FAAC meeting in Abuja, was buoyed by increases in oil and gas royalty, value-added tax (VAT), and common external tariff (CET) levies, according to a communiqué issued at the end of the meeting.

Out of the N2.225 trillion total distributable revenue, FAAC said N1,478.593 trillion came from statutory revenue, N672.903 billion from VAT, N32.338 billion from the Electronic Money Transfer Levy (EMTL), and N41.284 billion from Exchange Difference.

The communiqué revealed that gross federation revenue for the month stood at N3.635 trillion. From this amount, N124.839 billion was deducted as cost of collection, while N1,285.845 trillion was set aside for transfers, interventions, refunds, and savings.

From the statutory revenue of N1.478 trillion, the Federal Government received N684.462 billion, State Governments received N347.168 billion, and Local Government Councils received N267.652 billion. A further N179.311 billion (13 per cent of mineral revenue) went to oil-producing states as derivation revenue.

From the distributable VAT revenue of N672.903 billion, the Federal Government received N100.935 billion, the states received N336.452 billion, while the local governments got N235.516 billion.

Of the N32.338 billion shared from EMTL, the Federal Government received N4.851 billion, the States received N16.169 billion, and the Local Governments received N11.318 billion.

From the N41.284 billion exchange difference, the Federal Government received N19.799 billion, the states received N10.042 billion, and the local governments received N7.742 billion, while N3.701 billion (13 per cent of mineral revenue) was shared to the oil-producing states as derivation.

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KenPoly Governing Council Decries Inadequate Power Supply, Poor Infrastructure On Campus

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The Governing Council of Kenule Beeson Saro-Wiwa Polytechnic, Bori, has decried the inadequate power supply and poor state of infrastructural facilities and equipment at the institution.

The Council also appealed to the government, including Non-Governmental Organisations, agencies, as well as well-meaning Rivers people to intervene to restore and sustain the laudable gesture, dreams and aspirations of the founding fathers of the polytechnic.

The Chairman of the newly inaugurated Council, Professor Friday B. Sigalo, made this appeal during a tour of facilities at the  Polytechnic, recently.

Accompanied by members of the team, Prof Sigalo emphasised the position of technology, technical and vocational education in sustainable development.

He noted that with the prospects on ground, and the programmes and activities undertaken in the polytechnic, there is no doubt that the institution would add values to the educational system in our society and foster the desired development, if the existing challenges are jointly tackled.

This was contained in a statement signed by Deputy Registrar, Public Relations, Kenpoly,  Innocent Ogbonda-Nwanwu, and made available to The Tide in Port Harcourt.

The chairman who restated the intention of his team of technocrats to ensure that KenPoly enjoys desirable face-lift, said the Council would deliver on its core mandates, accordingly.

Earlier, the Rector, KenPoly Engr. Dr. Ledum S. Gwarah, commended the appointment of Professor Friday B. Sigalo as Chairman of the KenPoly Governing Council.

He described him and his team as seasoned technocrats and expressed confidence in their ability to succeed.

The Rector pledged the management’s support to the Council to ensure that KenPoly resumes its rightful place in the comity of polytechnics in the country.

Facilities visited by the Governing Council include KenPoly workshops, laboratories, skills acquisition centre, library, hostels and medical centre.

 

Chinedu Wosu

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