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FG Waives Import Duties On Mass Transit Buses, EVs, Others

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The Federal Government has granted a waiver on import duties for mass transit buses, electric vehicles, and manufacturing machinery.

The development followed President Bola Ahmed Tinubu’s directive to key economic officials to design measures to cushion the impact of the ongoing Middle East crisis on Nigerians, particularly amid rising fuel prices.

A disclosure contained in an X post on Monday by Dada Olusegun, Special Assistant to the President on Social Media, noted that the move is part of new fiscal measures aimed at easing economic pressure on Nigerians and curbing inflationary pressures.

Olusegun said the Tinubu administration approved a broad set of import duty reductions to lower inflation, support businesses, and improve affordability for consumers.

“President Tinubu’s administration has approved a massive reduction in import duties of selected products in order to further reduce inflation, empower local businesses and increase affordability for consumers,” he said.

The Israel–US–Iran conflict, ongoing since February 28, 2026, has severely disrupted global oil flows, particularly around the Strait of Hormuz, which handles about 20% of global crude supply.

Under the new policy, import duties on electric vehicles were reduced from 5% to 0%. Mass transit buses were also granted full duty exemption, down from 5% to 0%, to encourage cheaper public transportation and support cleaner mobility alternatives.

The levy on manufacturing machinery was equally scrapped, falling from 5% to 0%, in a move aimed at lowering production costs and boosting industrial activity.

Raw cane sugar was adjusted from 70% to between 55% and 57.5%, while crude palm oil duties were reduced from 35% to 28.75%.

The policy also introduced broader tariff adjustments across key import segments – passenger vehicle duties were reduced from 70% to 40%, while tariffs on bulk rice were cut from 70% to 47.5% and broken rice from 70% to 30%.

In the industrial and construction sector, steel sheets and coils were lowered from 45% to 35%, while glazed ceramic tiles were reduced from 55% to 46.25%, in a move aimed at easing production and construction costs.

A 90-day transition phase beginning April 1, described as a “Transition Phase”, to allow markets to adjust gradually and avoid sudden shocks, has also been introduced.

The Mideast crisis has driven volatility in energy prices and raised shipping and insurance costs across multiple global economies, including Nigeria.

Since the start of the conflict, crude oil prices surged as high as $120 per barrel due to attacks on energy infrastructure and restricted shipping routes.

Nigerian crude and major contracts were pushed below $95 per barrel after a ceasefire announcement on April 8.

Brent crude and WTI fell by more than 15%.

On Sunday, April 12, however, U.S. President Donald Trump ordered the United States Navy to begin a blockade of all ships entering or leaving the Strait of Hormuz, following the collapse of peace talks between the United States and Iran in Islamabad.

The renewed escalation triggered a surge in oil prices, with Brent crude rising above $102 per barrel and WTI climbing to $104.16 per barrel on April 13.

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‘Unknown Entities’, Atiku Slams NNPCL Deal With Chinese Firms

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By Augustine Akhilomen

…Accuses NNPCL Of Lacking Transparency And Attempting To Hide The Details Of The Deal

Former Vice President and 2023 presidential candidate, Atiku Abubakar, has demanded the immediate suspension of the deal between the Nigerian National Petroleum Company Limited (NNPCL) and Chinese firms aimed at reviving the Port Harcourt and Warri refineries.

Atiku, through his media aide Phrank Shaibu on Friday, criticized the partnership as an “opaque” and “dangerous gamble” with Nigeria’s economic future.

He accused the NNPCL of lacking transparency and attempting to hide the details of the deal, similar to previous controversial agreements.

Atiku referred to the Chinese firms, identified as Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd, as unknown entities lacking the credibility for such a massive project.

“It is both shocking and insulting that after wasting over $2.5 billion on endless refinery rehabilitation scandals, the NNPC is once again asking Nigerians to trust another experiment built on secrecy and questionable competence,” Atiku stated.

“There is no publicly available evidence anywhere in the world showing that Sanjiang has ever built, operated, or managed a full-scale crude oil refinery of the magnitude and complexity of Port Harcourt or Warri refineries.

“Processing petrochemical derivatives is not the same as running an aging national refinery burdened with decades of operational decay,” Atiku noted.
Also, Atiku said the second Chinese firm, Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd., appears to have absolutely no verifiable experience in petroleum engineering, refinery operations, or hydrocarbon processing.

“By every available corporate and industry record, Xingcheng is essentially an industrial park and infrastructure management company — the equivalent of handing over a hospital’s intensive care unit to a real estate developer simply because they can construct buildings,” the statement added.

“It is unacceptable that after years of failed turnaround maintenance scams, billions of dollars squandered, and repeated lies about refinery functionality, Nigerians are now being told to celebrate a memorandum of understanding signed with companies whose core expertise does not align with the technical realities of refinery rehabilitation.

“Nigerians must not allow the same people who destroyed the refineries through incompetence and corruption to now hide behind vague Chinese partnerships to continue the cycle of deception,” he said.

“The era where NNPC signs opaque agreements abroad and expects Nigerians to clap blindly is over.

“National assets are not toys for bureaucratic experimentation. The Port Harcourt and Warri refineries are too strategic to be surrendered to uncertainty, obscurity, and corporate guesswork”, he stated.

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My ancestor was king of Lagos, fought the British – Adekunle Gold

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Nigerian singer Adekunle Gold has revealed that he is a descendant of King Kosoko of Lagos, a 19th-century monarch who resisted British colonial forces when they first arrived in Nigeria.

Gold made the disclosure in an interview on Great Day Houston, a morning show on KHOU 11 television in Houston, Texas, which was published on YouTube on Thursday.

On his royal lineage, he said his ancestor fought the British when they first entered Nigeria through Lagos, was driven into exile, and eventually returned victorious.

“My progenitor used to be king of Lagos. His name is King Kosoko. He fought the British when they first came to Nigeria through Lagos to try to take our things, then he fought, went to exile, and came back, and then still won,” he said.

Gold, who is from the Yoruba tribe, was born in Lagos.

The singer also revealed that his stage name was given to him by God through a church sermon.

He said he had been searching for one and had taken the matter to God in prayer when the answer came during a church sermon.

“I told God, I need a name,” he said.

He said a preacher repeated the same phrase three times during the sermon, and he took it as a divine signal.

“Something just told me it must have been God. God told me at that point that that’s your name,” he said.

Gold said he settled on the name immediately after.

“I said, okay, you know what, just make it Adekunle Gold, and it’s very befitting of me,” he said.

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High Court dismisses Sowore’s no case submission in Tinubu cyberbullying trial

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Justice Mohammed Garba Umar of the Federal High Court in Abuja has dismissed the no-case submission made by activist, Omoyele Sowore, in the cyberbullying charge brought against him by the Department of the State Services, DSS.

DSS had charged Sowore for cyberbullying President Bola Tinubu.

The court upheld the DSS charges against Sowore for allegedly calling Tinubu a “criminal” in his Twitter handle and ordered him to enter his defense.

Justice Umar dismissed the no case submission on Friday while ruling on the application made by the activist.

Sowore had filed the no case submission and prayed the court to discharge and acquit him from the two-count charge.

In the ruling, Justice Umar held that the DSS had successfully linked Sowore with the alleged offences, adding that a prima facie case had been established against him to warrant him to enter a defense.

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