Business

Challenges Of ESI Women Drivers In Rivers

Published

16 years ago

January 15, 2010

Transportation sector has been described as one of the lucrative business areas in both developed and developing countries of the world. Its activities span across land transportation which includes wheelbarrow, bicycle, truck, tricycle, motorcycle, motor vehicle and chariots.

Sea transportation covers canoe, flying boat and ocean-moving vessels classified as marine transport. While air transportation known to be the aviation sector deals with movement aircrafts.

The major objective of the transport industry is centred on the movement on human and materials from one destination to another, with a view of accelerating interaction, relationship and transactions between individuals, communities, states and countries.Transport business in the world has been largely dominated by the male sex, creating gender equality in the system.

And in a bid to bridge the gap posed by gender inequality, the wife of the Rivers State Governor, Her Excellency, Dame Judith Amaechi roled out her pet project known as Empowerment Support Initiative (ESI) aimed at empowering and encouraging women partake in the transportation business.

Besides, the project also tend to reduce poverty, improve their income base, create job and make them self reliant. No wonder Her Excellency insisted that women should drive the vehicles allotted to them, to ensure that the gender inequality gap is bridged, as well as proof to the world that women can compete men favourably.

Speaking with the beneficiaries of the scheme, the woman driver who gave her name as Patience, told The Tide that she found joy competing with men on the road as driver of her own car, noting that she make as much as N6,000 to N7,000 daily.

She said that, she programme her business time to suit the domestic affairs of her household so as to maintain a balance in the flow of income.

The woman driver lauded the initiator of the scheme Dame Judith Amaechi for empowering women in this magnitude of a saloon car other than the usual gas cooker, sowing machine, hair dryer etc experienced in the past administrations.

Another beneficiary of the transport scheme Mrs Ibiene Orupabo who ply Lagos bustop-Aggrey-Borokiri route told our correspondent that inspite of the fuel scarcity and like in the price of the product, she said that somedays the income margin stands at N10,000, while some other days between N8,000 and N9,000 depending on how serious. According to her, “I never knew that transport business is so lucrative and with my experience as a taxi driver, I intended to expand to full time transporter as soon as I pay the agreed sum (the cost price of the car).

We are in a capitalist world where competition and hardwork form the foundation of our survival, therefore, women should stand firm and contribute to the economic growth of our respective families and the state at large”, she asserted.

She said that Rivers State Government has done so much to rekindle the potentials in women through the wife of the Governor by wooing them into the driving profession which is worthy of emulation by other states.

Mrs Orupabo expressed her pleasure over the level of patronage accorded them on their route by the passengers, saying maybe it is because we are women drivers or that their cars are neat, new and air conditioned.

Speaking on the daily challenges facing the operation of the women drivers in the state, Mrs Janet Ihunwo noted with dismay the incessant harassment of the woman drivers by the traffic marshals, citing the recent assault meted out on a woman driver along Aba road by the staff of the Federal Road Safety Commission which she said the case is in the court.

She said that they are always envied by the male counterpart who dominated the sector, adding that sometimes they are quirked, abused and threatened. Also, “you have to meet your domestic obligations, take the children to school, bring them back, cook and maintain the domestic affairs of the family as well as go out for the days business”, she noted.

She urged government to increase the number of the beneficiaries this year and improve the road network to ease the flow of traffic within the Port Harcourt metropolis and its environs.

Business

FIRS Clarifies New Tax Laws, Debunks Levy Misconceptions

Published

2 days 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

3 days 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

3 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