Article

Top 5 Stories Of The Day | British Petroleum Set to Cut 7,700 Jobs for Cost Control

Top 5 Stories Of The Day | British Petroleum Set to Cut 7,700 Jobs for Cost Control
  • British Petroleum set to cut 7,700 jobs for cost control
  • EFCC lays charges against Otudeko for acquiring ₦30 billion loan under false pretence
  • Minister of Interior alleges 90% of foreigners working in Nigeria lack adequate work permits
  • Bosun Tijani reveals that Telecoms tariff will not rise beyond 60%
  • Governors support Tax Reform, request adjustment to VAT proposal

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss. 

British Petroleum set to cut 7,700 jobs for cost control

Top 5 Stories Of The Day | British Petroleum Set to Cut 7,700 Jobs for Cost Control

British Petroleum (BP) Plc has announced a decisive plan to cut about 7,700 jobs as part of its cost-reduction strategy for 2025. 

The company will eliminate 4,700 full-time positions and lay off over 3,000 contractors. 

In an email to employees on Thursday, January 16, Murray Auchincloss, BP’s chief executive officer (CEO), clearly explained the reasons behind these necessary job cuts.

“I understand and recognise the uncertainty this brings for everyone whose job may be at risk, and also the effect it can have on colleagues and teams,” Auchincloss said.

EFCC lays charges against Otudeko for acquiring ₦30 billion loan under false pretence

The Economic and Financial Crimes Commission (EFCC) has filed a 13-count charge against Oba Otudeko, the former chairman of First Bank Nigeria (FBN), and three others over alleged fraud.

The other defendants are Stephen Olabisi Onasanya, a former group managing director of FBN; Soji Akintayo, a former board member of Honeywell Flour Mills plc; and Anchorage Limited, a company associated with Otudeko.

The EFCC alleges that Otudeko and the other defendants fraudulently obtained loans from First Bank totalling ₦12.3 billion, ₦5.2, ₦6.2 billion, ₦6.1 billion, and ₦1.5 billion. The anti-graft agency claims these credit facilities were secured between 2013 and 2014 because certain firms were acquiring them.

Minister of Interior alleges 90% of foreigners working in Nigeria lack adequate work permits

Minister of interior

Olubunmi Tunji-Ojo, the Minister of Interior, highlighted the importance of addressing work permit regulations for foreigners during a recent presentation to the joint committees of the National Assembly, where he defended the budget for the interior ministry.

He stated that about 90% of expatriates in roles intended for Nigerians do not possess the necessary work permits.

Adams Oshiomhole, chair of the Senate Committee on Interior, expressed concerns about the influx of expatriates taking jobs that Nigerian citizens could fill.

Tunji-Ojo emphasised that Nigeria must enhance its “migration management” practices. He acknowledged the complexity of the issues at hand, referencing sensitive topics that may require a more private discussion to ensure a comprehensive understanding.

Bosun Tijani reveals that Telecoms tariff will not rise beyond 60%

Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, announced that any increase in telecom tariffs will not exceed 60%. This statement comes amid calls for a rise in tariffs. Tijani rejected a 100% increase proposal, noting that such a significant hike would harm Nigerians.

He stated that the proposed increase would fall between 30% and 60%.

“We’re asking difficult questions, such as whether we can increase local content in the sector. This would mean reducing the amount of imports, which would consequently lower the need for foreign exchange, which is currently expensive,” the Minister explained.

Governors support Tax Reform, request adjustment to VAT proposal

Top 5 Stories Of The Day | British Petroleum Set to Cut 7,700 Jobs for Cost Control

The conversation regarding the Value Added Tax (VAT) components of the Tax Reform Bills was taken up by the Nigeria Governors’ Forum (NGF) on Thursday, January 16.

The governors expressed their support for the four bills presented to the National Assembly by President Bola Ahmed Tinubu and proposed some adjustments to ensure a fair distribution of resources.

The VAT-sharing formula suggested by the governors is 50% for equality, 30% for derivation, and 20% for population. This proposal differs from the Federal Government’s formula outlined in the bills, which allocates 20% for equality, 60% for derivation, and 20% for population.

Leave a reply

Your email address will not be published. Required fields are marked *

cool good eh love2 cute confused notgood numb disgusting fail