Unfortunately, the National Assembly in its self-serving wisdom ignored this faux pas, and it is doubtful if the banks ever repaid this loan. Nigeria’s external debt stock has alarmingly continued its unrestrained spiral and now exceeds $10.3bn as at 30th June 2015, while the outstanding Domestic stock has also risen to N8.4 Trillion; furthermore, the debt stock of state governments has also risen above $10bn to make up a consolidated outstanding National debt of almost $64bn.

Osogbo—The Economic and Financial Crimes Commission, EFCC may have yesterday summoned Justice Oloyede Fololahanmi of Osun State Judiciary over her claims in the petition sent to the anti-graft body, it was gathered.

Akure—A 55-year-old woman, Florence Aladenoye, has been bitten to death by a dog at Alade Idanre area of Ondo State.

The unfolding crisis in the PDP was one that had over time been covered up on account of the party’s previous hold of the apparatus of government. Now denied of such, the bubble easily burst given the absence of the mixture of power and money that had until recently kept the workers and the party leaders united.

We are also developing durable solutions for roads construction like concrete wall because of the intricacies of the weather conditions in Nigeria. It can last 20, 30, 50 years. One of the issues affecting cement pricing in Nigeria is the high cost of production, and getting the cement from the plants to the markets. So, by investing in infrastructure five years ago, we have been able to reduce the logistics of transport cost and that in turns has reduced the price of cement to consumers.

THERE is a jam in our tertiary institutions admission. Unfortunately, the regulatory Joint Admissions and Matriculation Board (JAMB) which last month, raced to decongest the process, became part of the problem; creating more chaos leading to protests by students, teachers and parents. JAMB was forced to abandon its new policy.

LAGOS— THE General Overseer of the Redeemed Christian Church of God, RCCG, Pastor Enoch Adeboye, has enjoined all participants at the church’s annual convention, which begins today with the ordination of deacons/deaconesses at the Redemption Camp on Lagos-Ibadan Expressway, to prepare themselves for unprecedented breakthrough and a new level of walk with God.

The withdrawal of of N1.5 billion from the account of the Ministry of Niger Delta Affairs with the Central Bank of Nigeria, CBN, and what the money was used for are some of the questions the Office of the Head of Service of the Federation and security agencies are currently trying to unravel with a view to retrieving the funds and bringing those who stole the cash to book.

It was not surprising that when staff of the Peoples Democratic Party, PDP openly confronted the party’s national leaders over alleged multibillion wastages, that the opposition party responded by alleging an infiltration of its ranks by its political nemesis, the All Progressives Congress, APC.

Operations at Guinness Nigeria Benin plant has been paralysed by officials of Ikpoba Okha Local Government Area, LGA of Edo State, who mounted a blockade at the entrance to the brewery compound over unpaid fees. The blockade stalled exit and entry into the premises for a few hours. The blokade was led by Mrs. Itohan Ogbeide,Chairman, Ikpoba-Okha LGA, who claimed that Guinness Nigeria have been obstructing the local government from collection of fees from third party logistics companies engaged in the provision of haulage services.

According to Haruna, who was represented by Mrs. Edna Eneh, Director Reform and Coordination in the Ministry, lauded the PTDF for performing the Corporate Social Responsibility initiative, especially as there is a lot that still needs to be done in growing the sector. He said, “The industry is dynamic and we have to move in line with global developments in the oil and gas industry, especially as the world has evolved into a global village.”

“Everybody should have a choice of where they want to take their cargoes to. “The government concessioned the ports, all of them (concessionaires) signed the same documents. Why do you have to force people to take their cargo to Onne so that they can charge them in dollars, and not only that, their charges are 300 times more than regular charges in other ports.”

Online vehicle marketplace, Carmudi.com has said that Nigerian used cars remain the best selling cars online, as about 2,400 Nigerian used cars are sold through the platform monthly. Carmudi’s Head of Operations for Africa, Mohammed Iyamu told Vanguard that of the 3,000 Nigerian used cars that are listed on the website monthly, 80 per cent are sold.

IT is no longer news that peace has finally been restored in our House of Representatives. The Senate and House of Reps can now settle down and attend to the heavy workload that has accumulated in the past two months. But before we proceed with business as usual, we must take note of some of the worrisome and unsavoury things the deal for peace left in its wake. First, let us recapture the issue in brief.

A definition of the word ‘trade’ cannot be found in Nigerian tax legislation although an attempt was made in PITA. The interpretation Section of the Fifth Schedule of PITA defines “trade or business” to mean “trade or business or that part of a trade or business the profits of which are assessable under this Act”.