Business

Transport Firm Spends N6.2m On Speed Limiters

Published

9 years ago

March 22, 2017

The Bauchi State Transport Company, operators of the Yankari Mass Transport has said that it has spent N6.2 million in purchasing and installing speed limiters in its vehicles.
The Operations Manager of the company, Alhaji Mohammed Jibrin, said this in an interview newsmen in Bauchi, yesterday.
Jibrin said the gadgets were purchased at the cost of N40,000 per unit.
“We purchased the speed limiters from the list of 60 vendors recommended by the Federal Road Safety Commission (FRSC).
“We have 65 serviceable vehicles and so far, we have installed about 40 units; the remaining 25 gadgets are ready and any moment from now, the vendors will start installing them in the remaining vehicles.
“The gadgets are not costly, considering the fact that human lives are priceless. It is cost effective if it can save the lives of 14 passengers in a bus.
“To us, the gadgets are very vital, even though, some drivers will not like to be restricted to a limit of 100km per hour but some of the passengers we interviewed said they were very happy about the development,’’ Jibrin said.
The manager said that the introduction of the gadgets was a good omen for the company because the drivers could not exceed 100km per hour.
He said the limiters would also save fuel; wear and tear of the vehicles, making them last longer.
The Tide garthered that the House of Representatives’ resolution of June 23, 2016, approved the introduction of speed limiters in accordance with the extant provisions of the FRSC Establishment Act (2007).
Consequently, the FRSC embarked on extensive consultation with relevant stakeholders and elaborate Public Education programmes.
The FRSC on Oct. 1, 2016, commenced a subtle enforcement of the speed limiting device in all commercial vehicles across the country.
That is those who did not install the device were not punished but rather educated on its benefits.
The commission said the decision was predicated on the analysis of data generated from Road Traffic Crashes (RTC) around the country.
He said the analysis overtime revealed that speed and the involvement of commercial vehicles consistently accounted for about 60 per cent of RTC in Nigeria.

Business

“FCCPC Approves Sale Of Chivita|Hollandia To UAC Nigeria PLC

Published

4 days ago

October 6, 2025

The Tide

UAC of Nigeria PLC (UAC) has announced the completion of it’s in a press release on October 3, 2025, that it has completed the acquisition of Chivita|Hollandia (CHI Limited), following approval from the Federal Competition and Consumer Protection Commission (FCCPC).

Revealing this in a Press Release, at the Weekend, UAC said the transaction, first disclosed on July 30, 2025, involved the transfer of ownership of CHI Limited, a leading Nigerian food and beverage company best known for its market-dominant Chivita juice and Hollandia dairy brands, to UAC.

Commenting on the development, the Managing Director, CHI Limited, Eelco Weber, expressed optimism in the company’s future under UAC’s ownership.

“We are pleased to have received regulatory approval for this transaction. We look forward to a smooth transition and to seeing Chivita|Hollandia thrive under UAC’s ownership,” he said.

Group Managing Director of UAC, Fola Aiyesimoju, highlighted the strategic importance of the acquisition saying “We are excited to officially welcome the Chivita|Hollandia team and brands into the UAC family, and we are eager to work together to build on their strong legacy and market leadership”.

The acquisition is expected to strengthen UAC’s position in Nigeria’s fast-moving consumer goods (FMCG) sector, expanding its footprint into the growing juice and dairy markets.

UAC further said that the acquisition aligned with its growth agenda by adding two market-leading brands and a well-established distribution network to its por.

Business

PenCom Reintroduces Gratuity For Federal Civil Servants

Published

4 days ago

October 6, 2025

The Tide

The National Pension Commission has said it has deployed a framework to restore gratuity for Federal Civil Service under the Contributory Pension Scheme.

Director-General of PenCom, Omolola Oloworaran, disclosed this at a Stakeholders’ Conference on the Workings of the Contributory Pension Scheme (CPS) for Employees and Pensioners of Federal Government Treasury-Funded Ministries, Departments and Agencies, in Abuja, last Thursday.

Represented by the Acting Commissioner, Technical, PenCom, Hon. Hafiz Kawu Ibrahim, Oloworaran said, “Working with the office of the Head of the Civil Service, a framework has been developed to restore gratuity benefits for federal workers under CPS, in line with Section 4(4) of the PRA 2014.”

The PenCom DG added that “PenCom has enhanced pensions for over 241,000 retirees, representing 80% of those under Programmed Withdrawal. Monthly pensions rose from N12.157 billion to N14.837 billion, effective June 2025.

“Also, since July 2025, no retiree waits to access their pensions. Payments are now immediate, aligned with monthly salary releases from the Federal Ministry of Finance”.

Also speaking, the Chairman of the National Salaries, Income and Wages Commission, Ekpo Nta, stated that the Commission would partner PenCom to examine the current rate of retirement benefits and recommend appropriate mechanisms for periodic reviews of retirement benefits.

Business

CAC, SMEDAN To Register 250,000 MSMEs Free ……..As CAC Forfeits ?3b In Fees Nationwide

Published

4 days ago

October 6, 2025

The Tide

The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have announced a joint initiative to register 250,000 Micro, Small, and Medium Enterprises (MSMEs) free of charge across the country, with CAC foregoing about ?3 billion in registration fees

The initiative, announced during the signing of a Memorandum of Understanding (MoU) in Abuja, at the Weekend, seeks to remove barriers such as high costs and bureaucratic challenges that have long kept many small businesses in the informal sector.

The Registrar-General, CAC, Hussaini Ishaq Magaji, SAN, explained that the scheme would eliminate the registration fee, helping entrepreneurs access official recognition and grow their businesses.

SMEDAN Director-General, Dr. Charles Odii, added that registration is just the first step, noting that registered businesses will benefit from continuous aftercare such as grants, training, and market access.

Together, the two agencies noted that CAC will forgo approximately ?3 billion in registration fees, while SMEDAN will provide continuous support to help these businesses thrive.

They added that this partnership supports the Federal Government’s Renewed Hope vision to boost Nigeria’s economy by empowering entrepreneurs.

CAC further disclosed measures to ease company registration with the steps as follows: 1. Visit the SMEDAN portal: http://portal.smedan.gov.ng., 2 Sign up and complete your registration on the portal., 3. When asked if you have a CAC number, select “No”., 4. Submit your details to complete the process., 5. Once registration is completed, you will be contacted with the next steps to finalise your free CAC registration.

It further clarified that MSMEs already on SMEDAN’s database without CAC registration automatically qualify for this free registration drive.