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Ogu/Bolo Council Presents N3.5bn Budget

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Chairman, Ogu/Bolo Local Government Area, Mr Victor Erasmus, has presented the council’s 2020 Physical Appropriation budget of N 3.5billion to the Ogu/Bolo Legislative Council for consideration and passage.
Presenting the budget on the floor of the Ogu/Bolo Legislative Assembly, the chairman stated that the 2020 Physical Appropriation Budget, tagged ‘Budget of Continuity’ has a total recurrent expenditure of N2.274 billion, while N1.191 billion was proposed as capital expenditure.
Erasmus noted that top on the priority of the capital expenditure is the building of the new legislative block in Ogu, the completion of the Bolo Ultra Modern Market and other human capital development projects, saying “notable among issues on capital expenditure is the new legislative complex in Ogu that would be built soon and the Bolo Market”
According to him, “the 2020 annual appropriation budget will be the Budget of Continuity. I’m going to continue on human capital projects, road infrastructure maintenance, building of markets and other access roads”.
He said despite the challenges in 2019, his administration was not owing salaries as he has an up to-date record in payment of salaries and promised to maintain the feat.
“We promise to maintain our outstanding performances in the payment of salaries allowances based on the available resources. It is our prayer that Covid-19 should give way to surge in economic growth”, he said.
On his part, the leader of the Ogu/Bolo Legislative Assembly, Joachim Yemieari, pledged the continued support of the House to ensure the success of the Victor Erasmus-led administration.

 

Tonye Nria-Dappa

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

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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.
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PenCom Reintroduces Gratuity For Federal Civil Servants

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

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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.
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