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Cost of revenue collection gulps N214.29bn in Q1 2024

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*Cost of Revenue Collection in Nigeria*

– *N214.29 Billion Spent*: In the first quarter of 2024, Nigeria spent N214.29 billion on revenue collection, with revenue collecting agencies such as the Federal Inland Revenue Service, Nigeria Customs Service, and Nigerian Upstream Petroleum Regulatory Commission sharing this amount as logistics cost

– *Expanded Tax Collection Efforts*: This substantial growth in cost is attributed to expanded tax collection efforts, potentially due to better tax compliance measures and increased economic activities.

– *Revenue Collection Agencies*: The cost of collection is usually deducted at the monthly FAAC meeting before the federally collected revenues are shared with the three tiers of government and other statutory recipients.

– *Concerns About Allocation*: The report raises concerns about the allocation of funds, stating that these agencies are getting more allocations at the expense of others, including states and zones that have a high number of citizens to cater for and a slew of challenges to tackle.

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18 ships discharge petroleum products, goods at Lagos ports – NPA

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The Nigerian Ports Authority, NPA, has disclosed that 18 vessels are currently offloading petroleum products and assorted cargoes at major ports in Lagos, including Apapa, Lekki and Tin Can Island.

In a cargo status update issued on Saturday, the authority said the ships are discharging a mix of commodities such as bulk fertiliser, general cargo, bulk sugar, petrol, bulk urea, condensate, gypsum and containerised goods.

An additional 46 vessels carrying petroleum products, food items and other imports are scheduled to arrive at Lagos ports between Saturday and February 22.

The NPA noted that the expected vessels will deliver a wide range of consignments, including general cargo, bulk urea, wheat, empty containers, crude oil, refined crude, gypsum, trucks, bulk gas, pallets, containerised goods, salt and petrol.

It added that seven ships have already reached the ports and are awaiting berthing approval. These vessels are laden with cargoes such as bulk urea, crude oil, diesel, aviation fuel, general merchandise and petrol.

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FG suspends sachet alcohol ban, orders NAFDAC to halt enforcement

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The Federal Government has ordered the National Agency for Food and Drug Administration and Control, NAFDAC, to immediately halt all enforcement actions regarding the ban on sachet alcohol and 200ml PET bottle products.

The offices of the Secretary to the Government of the Federation, OSGF, and National Security Adviser, ONSA, in a joint intervention, cited grave concerns over economic stability and potential security threats as reasons for the directive.

The statement warned that continued enforcement, in the absence of a fully implemented National Alcohol Policy, could “destabilize communities, worsen unemployment, and trigger avoidable security challenges”.

According to the statement signed by Terrence Kuanum, Special Adviser on Public Affairs to the SGF, the government clarified that while the National Alcohol Policy has been signed by the Federal Ministry of Health under the direction of President Bola Tinubu, NAFDAC must refrain from sealing factories or warehouses until the policy is fully operationalized.

The statement emphasized that the current “de facto banning” of the products without a harmonized framework is creating significant disruptions.

“The continued sealing of warehouses and de facto banning of sachet alcohol products is already creating economic disruptions and poses a growing security threat, particularly given the impact on employment, supply chains, and informal distribution networks across the country,” the statement warned.

The statement further revealed that the decision was influenced by a correspondence from the House of Representatives Committee on Food and Drugs Administration and Control, dated November 13, 2025.

The letter, signed by Deputy Chairman Uchenna Harris Okonkwo, highlighted existing National Assembly resolutions that cautioned against the proposed ban.

Reaffirming a previous suspension issued in December 2025, the statement stated the need to review legislative, public health and economic factors before a final decision is reached.

“Accordingly, all actions, decisions, or enforcement measures relating to the ongoing ban on sachet alcohol are to be suspended pending the final consultations and implementation of the National Alcohol Policy and the issuance of a final directive,” the statement emphasized.

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Soludo takes over Onitsha main market as IPOB declares compulsory sit-at-home

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The Governor of Anambra State, Prof Chukwuma Soludo has announced that his government will take over the running of Onitsha Main Market.

The governor had last Monday visited the market and also announced a one week closure over the continued adherence to sit at home protest by traders in the market.

The closure had generated a lot of tension, leading to protests by the traders, while the governor stuck to his gone, insisting that the market will remain closed for one week. He also held a meeting with the leaders of the market yesterday, where he presented them with two options.

Though it was a closed door meeting, which held at the Light House, Awka, a source in the meeting told THISDAY that the traders chose to open their shops on Monday, against an earlier option of demolishing and remodelling the market.

The source said: “The governor gave them two options. The first included; they will resume full trading activities on Mondays, mark attendance as required, while he regenerate and reorganise the market, demolish all illegal structures and plazas and create proper spaces and car parks. The second includes; To continue with Sit-at-Home on Mondays and risk the demolition of the market and use two-years for its reconstruction to restore it to its original master plan.

“The governor told them that restoring parking facilities in Main Market is an emergency, and any illegal structure erected at the park would be demolished soonest.”

It was gathered that the traders choose the first option, which will involve them opening on Monday, and giving the governor the go ahead to remove illegal structures to make way for wider roads in the market and restoring its packing space.

During the meeting, the governor told the traders that a committee will be set up to rectify all occupants of shops in the market, and that this will commence work soon, insisting that the government needs to know those who are trading in its market.

The governor was also said to have rejected a plea for the market to be opened on Saturday, insisting it can only be opened on Monday, when their compliance will again be re-accessed.

“The traders agreed to the terms, and will on Monday reopen the market to recommence business,” the source said.

Meanwhile, secessionist group, Indigenous People of Biafra (IPOB) has declared what it called Biafra-wide solidarity lockdown which is to hold on Monday in solidarity with Onitsha traders and to demand for Mazi Nnamdi Kanu’s immediate release.

A press release by the group’s publicity secretary, Mr Emma Powerful said the total shutdown across Biafraland is a direct, peaceful, and unified response to the shutting down of Onitsha Main Market for one week by Soludo.

The release said: “We remind Governor Soludo and his Abuja sponsors that the Monday sit-at-home originated as a peaceful protest demanding the unconditional release of Mazi Nnamdi Kanu, the very cause that has galvanized global attention to Biafra’s quest for self-determination.

“Attempts to twist this into “economic sabotage” or “criminality” will fail. The markets thrived during Christmas Mondays without incident, proving that voluntary compliance stems from genuine solidarity, not fear. Soludo’s escalation only exposes his desperation to provoke confrontation at a time when Biafra’s international profile is rising and diplomatic efforts are gaining traction.

“On Monday, February 2, 2026, we call on all Biafrans traders, transporters, banks, schools, civil servants, and every sector across Anambra, Abia, Imo, Enugu, Ebonyi, and beyond to observe this solidarity strike peacefully.

“Remain indoors, refrain from all commercial and public activities, and demonstrate to the world our disciplined resolve. This is not about disruption for its own sake; it is about standing with Onitsha traders who are being punished for demanding justice, and reaffirming that no governor can coerce free citizens into abandoning their rights or their solidarity.”

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