Business
NAPPS Vows To Resist Multiple Taxes On Private Schools
The President of National Association of Proprietors of Private Schools (NAPPS), FCT Chapter, Hajiya Samira Jibir, says the association will henceforth resist multiple taxation on private school owners.
Jibir, who made this assertion in an interview with newsmen on Thursday in Abuja, said that multiple taxation was unacceptable and would be resisted.
She added that multiple taxes by different authorities in the territory were seriously affecting members of the association.
“We are particularly concerned about unresolved issues, especially relating to the Federal Capital Territory Authorities and Area Council revenues, which continually interfere in our business activities.
“We have sued for harmonisation of all taxation and fees through FCT-FIRS, National Assembly, Joint Tax Board, Area Councils and other relevant organisations without solution, rather we always have rude officers going round our schools.
“In most scenarios, school owners are threatened with school closure and in few cases some schools are closed down by every sector that comes to our schools for levies.
“This is very unfair and unacceptable as we are Nigerians contributing immensely to the education gap and reducing unemployment, which is the bane of conflict, poverty, youth unrest, underdevelopment and growth,” she affirmed.
The president regretted that for over 15 years, both the FCTA and operators of private schools were yet to agree on the issue of school land allocations.
She said that most school owners had eventually secured expensive loans from the commercial banks to acquire school plots, which according to her, had translated to high running costs for private schools.
She also observed that admission process in schools were not in compliance with the established UBE standard.
She noted that almost all the schools run a personalised seven or eight years’ basic education, instead of the nine years’ basic education structure.
“Most students do not complete the Middle Basic Education class (three years from primary four to six), but skip primary five class to Junior secondary one (J.S 1).
“Primary six classes have disappeared from our schools and Nigeria is probably the only nation in the world not complying with the Universal Basic Education (UBE).
“I was amazed to learn that 556 private schools were shut down by the Department of Quality Assurance in 2016.
With such huge number of defaulters, it leaves one wondering what the overall situation of private school management in the FCT was like,” Jibir stressed.
According to her, more disheartening is that most schools in the area councils are yet to perfect Title Deeds of legal mortgages due to unclear bureaucracy from AGIS.
In another development, the secretary, Education Secretariat of the FCTA, Sen. Isa Maina said that the administration was reviewing guidelines regulating the establishment and management of private schools in the territory.
The secretary noted that the present guidelines were too weak and had given way for the proliferation of substandard schools across the territory.
He described as disheartening, some reports concerning the conducts of some private schools in the nation’s capital, adding that quality assurance should be of paramount interest to private school operators.
Maina, however, pointed out that NAPPS, an umbrella body of private school owners, remained valuable strategic partners in the development of education sector of the FCT.
Business
Nigeria Loses N17tr Yearly To Abandoned Projects
The Minister of State for Industry, Trade and Investment, John Enoh said this at the 8th annual induction and conference of the Chartered Institute of Project Managers of Nigeria (CIPMN).
He explained that abandoned projects continue to lock up public funds that could have been used for infrastructure development, industrial growth, job creation and essential social services.
Represented by the ministry’s Permanent Secretary, Chris Osa Isokpunwu, he said the impact goes beyond financial losses, as incomplete projects affect communities and limit access to important public services
He cited examples of that remain unopened, schools that cannot accommodate students, roads that fail to connect communities and electricity projects that have not delivered their intended benefits.
The Registrar-General and Chief Executive Officer of CIPMN, Henry Ifeanyi Mbadiwe, also identified poor project management as a major challenge affecting development in Nigeria.
He revealed that the institute had developed a project management curriculum for Nigerian universities, which has received approval from the National Universities Commission (NUC). The programme is expected to enable universities to offer project management as a bachelor’s degree.
Mbadiwe further referenced findings by the Presidential Projects Assessment Committee, which identified 11,886 ongoing federal capital projects in 2011, with an estimated financial commitment of ?7.78 trillion.
He noted that inadequate planning, supervision, accountability and implementation were among the factors contributing to the abandonment of projects across the country.
The minister called for stronger project management structures across ministries, departments and agencies to improve planning, monitoring and evaluation.
He added that the Federal Ministry of Industry, Trade and Investment had introduced a 90-day implementation reporting cycle to strengthen transparency and monitor the progress of government programmes.
Business
Transcorp Power seeks sustained investment across Nigeria’s electricity value chain
Ikenga said the company remained committed to Nigeria’s power sector and would continue investing in its operations despite the challenging business environment.
He spoke in Lagos at the third edition of the Shell Power Conference, themed “Powering Nigeria’s Progress: Turning Ambition and Action into Sustainable Impact”.
The Transcorp Power chief said the company would sustain electricity generation, invest in its facilities and deliver value to shareholders.
“Transcorp Power is a long-term player, not a short-term player. This year has been challenging, but what is important is getting power to schools, hospitals and businesses to power progress,” he said.
Ikenga said the company’s focus on operational efficiency and investment had strengthened its contribution to Nigeria’s electricity supply.
He disclosed that since acquiring the Ughelli Power Plant in Delta State in 2013, Transcorp Power had quadrupled its available generation capacity.
He also said the company became the first privatised power generation firm to receive a post-privatisation discharge certificate after fulfilling all its privatisation obligations.
The company’s unaudited results for the nine months ended September 30, 2026, showed a profit before tax of N83.1 billion, while its profit-before-tax margin rose to 31.2 per cent from 29.6 per cent recorded in the corresponding period of 2025.
Its total assets rose to 11.7 per cent amounting to N629.5 billion, while shareholders’ funds grew 8.9 per cent to N199.8 billion. Cash and cash equivalents also rose to N10.3 billion, supported by improved collections.
On the company’s contribution to grid stability, Ikenga said Transcorp Power’s black-start capability enabled it to restart operations without relying on electricity from the national grid.
He explained that the capability allowed the company to support power restoration following grid disturbances, helping to restore electricity supply to homes, businesses and industries.
Ikenga noted that Nigeria had an installed electricity generation capacity of about 13,000 megawatts, with an estimated potential of 50 gigawatts, adding that realising the potential would require effective coordination across the entire value chain.
“Everything in the value chain has to work,” he said.
He called for stronger collaboration among federal and state governments, regulators and private-sector operators, alongside increased private investment, to build a sustainable electricity market.
Business
FG generates N33tn revenue in 10 months – Oyedele
This was contained in a statement issued on Thursday by his Senior Special Assistant on Communications and Press Secretary, Maryann Duke.
The statement said Oyedele pointed to “improved digital systems, including electronic invoicing, as a key driver behind a record of N33tn in government revenue collected between January and October 2026.”
The minister said the performance demonstrated the potential of technology to improve revenue administration, strengthen compliance and increase efficiency across government institutions.
Speaking on the theme, ‘Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation,’ Oyedele warned that Nigeria risked losing substantial economic opportunities if it continued to depend heavily on foreign digital infrastructure.
Citing Nigerian Communications Commission figures, he disclosed that the country recorded more than 157 million active internet subscriptions as of May 2026.
He explained that these connections generated significant volumes of information through financial transactions, healthcare, education and taxation.
However, citing estimates from the Nigeria Data Protection Commission, Oyedele said as much as 90 per cent of the country’s data was hosted abroad.
According to him, the situation has implications for foreign exchange expenditure, employment opportunities, technological skills and Nigeria’s control over information generated by its citizens.
He compared the country’s reliance on foreign digital infrastructure with its historical dependence on imported refined petroleum products, warning against a situation where Nigerian data would be processed abroad and the resulting services sold back to domestic users.
The minister consequently advocated greater investment in local data infrastructure, technical expertise, cybersecurity and predictable regulations to enable Nigerian businesses to capture more value from the digital economy.
He clarified that digital sovereignty should not translate into technological isolation but should strengthen Nigeria’s capacity to participate competitively in international markets.
Addressing graduating students, Oyedele urged young Nigerians to become developers of technological solutions rather than remain primarily consumers of products created elsewhere.
He identified artificial intelligence as both a disruptive force and an opportunity for innovation, advising graduates to acquire relevant digital skills alongside critical thinking, creativity, sound judgement and integrity.
The minister also cautioned against irresponsible online behaviour, explaining that digital footprints increasingly influence employment prospects, commercial relationships and professional credibility.
Oyedele outlined five priorities for graduates, including continuous learning, value creation, integrity, responsible digital citizenship and active participation in national development.
“Your degree is evidence of what you have learned. Your competence will demonstrate what you can do. Your character will reveal who you truly are,” he told the graduating students.
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