Business

Nigerians Buy One Million Air Conditioners Annually, Says UN

Published

2 years ago

March 31, 2023

Nigeria must not be dumping ground, FG Warns

Nigeria must not be a dumping ground for air conditioners and refrigerators with energy efficiency ratio that are below internationally acceptable minimum energy performance standard, the Federal Government declared on Thursday.

This came as the United Nations says Nigerians purchase about one million air conditioners every year.

Meanwhile, the Federal Government told the Nigeria Customs Service, Standard Organisation of Nigeria, and other relevant agencies, to be alive to their responsibilities, stressing that the influx of substandard cooling appliances posed danger to the climatic conditions across the country.

This came as the United Nations Environment Programme announced that over one million air conditioners were sold annually in Nigeria, adding that this was eating deep into the finances of Nigerians with respect to energy bills.

Speaking at the National Stakeholders’ Consultative Workshop on Energy Efficient and Climate-Friendly Cooling in Nigeria, the Minister of Science, Technology and Innovation, Adeleke Momara, said the enforcement of laws should be intensified.

After listening to a presentation by the UNEP Programme Management Officer, Brian Holuj, on the magnitude of pollution caused by the influx of substandard cooling devices imported into Nigeria, Mamora charged the NCS and SON to be alive to their duties.

“I listened to your presentation and certain issues were raised in it. There is the issue of monitoring and enforcement of protocols. Often times, we have beautiful policies and laws, but it is not the beauty of the policy, guideline or law that matters. It is the zeal for implementation that is most important.

“You mentioned this issue of Minimum Energy Performance Standard. What I think is that you have a minimum standard, but if there is no compliance with that, then we cannot get results. And if we must get results, it means the enforcement agencies must be alive to their responsibilities.

“The customs, Standard Organisation of Nigeria, and other relevant agencies need to be alive to their responsibilities and ensure that Nigeria does not become a dumping ground, where you just bring in all sorts of products that are not in line with what we expect by way of standards,” the minister stated.

He said the workshop, which was organised by the Energy Commission of Nigeria and UNEP, was aimed at promoting energy efficiency best practices in the cooling sector in Nigeria.

Momara said UNEP officials flew into Nigeria to support the country’s transition from inefficient cooling appliances to the most efficient ones in line with Nigeria’s commitment to mitigating climate change challenges.

He said, “It is a fact that Nigeria is the largest market in Africa, and this also applies to the cooling sector. With the current growing population, combined with improving lifestyle, urbanisation and rising global warming, Nigeria will continue to experience growing demand for air conditioners, refrigerators and other cooling devices.

“Thus becoming one of the fastest growing air conditioners and refrigerators market in the world. Unfortunately, most of the air conditioners utilised in the country have an energy efficiency ratio below internationally acceptable minimum energy performance standard.”

Business

Dangote Refinery Reduces Fuel Price Nationwide, Provides Update On Petrol Distribution

Published

7 hours ago

September 12, 2025

Editor

Dangote Refinery has reduced its premium motor spirit retail price nationwide.

This is as it announced Monday, September 15, 2025, as the new date to begin the direct petrol distribution initiative.

The initiative, which Dangote Group had earlier announced would kick off on August 15, 2025, would see the $20 billion plant distribute petrol and diesel to consumers with its 4,000 compressed natural gas trucks at zero logistics cost.

The 650,000-barrel-per-day refinery said its new gantry price is N820 per litre, the same price announced last month.

Business

FG Gives Criteria For Opening Bank Accounts

Published

8 hours ago

September 12, 2025

Editor

From January 1, 2026, all Nigerians and non-residents will be required to obtain a Tax Identification Number, Tax ID, to open or operate bank accounts.

The development followed the enactment of the Nigeria Tax Administration Act, 2025, recently signed into law by President Bola Tinubu.

Section 8(2) of the Act makes the Tax ID compulsory for banking, insurance, stock broking, and other financial services. It also extends the requirement to contracts with federal and state governments.

For non-residents, Section 6(1) mandates registration for tax purposes, requiring them to obtain a Tax ID if they supply taxable goods and services or derive income from Nigeria.

To enforce compliance, Section 7(3) empowers tax authorities to assign a Tax ID to individuals or entities who fail to register. The Act also allows for suspension or deregistration of a Tax ID if a business ceases operations temporarily or permanently, provided tax authorities are notified within 30 days.

The legislation is aimed at expanding Nigeria’s tax net and boosting revenue collection. Analysts say the policy could significantly improve tax compliance rates nationwide.

Financial institutions are expected to adjust their systems and processes ahead of the January 2026 rollout.

Business

NUPENG Accuses Dangote Of Breaching Agreement, Says Nationwide Strike Inevitable

Published

20 hours ago

September 12, 2025

Editor

The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has accused the management of Dangote Group of violating a peace pact brokered at the Department of State Services, DSS, headquarters on September 9, warning that a nationwide strike appears inevitable.

A statement by NUPENG President, Prince Williams Akporeha, and General Secretary, Afolabi Olawale, placed members nationwide on red alert, urging them to prepare for a possible resumption of the suspended industrial action.

The statement reads: “This is to alert the general public and the government of the Federal Republic of Nigeria that, notwithstanding the resolution reached and signed at the office of the Department of State Services (DSS) — with three Ministers of the Federal Republic of Nigeria and the Deputy Director-General of the DSS in attendance — on the right of workers to unionise, Mr. Sayyu Aliu Dantata, on Wednesday, 10th September 2025, instructed all his truck drivers, who have been members of NUPENG-PTD for several years, to remove the union stickers from their trucks.

“Today, Thursday, 11th September 2025, he further instructed them to forcefully drive into the Dangote Refinery to load products. Officials stopped them from entering the refinery because their trucks violated the loading rules and regulations.

“We strongly condemn this attitude towards the official institutions of this great country and blatant lack of respect for the laws of the land.

“We call on the Federal Government not to allow the security agents — who are being paid with the resources of this country — to be used with impunity against the laws and people of Nigeria.

“Security agents should not allow any individual to breach the law, particularly while disregarding agreements reached in meetings facilitated by them and attended by Ministers of the Federal Republic of Nigeria.

“By this statement, we are placing all our members on red alert for the possible resumption of the suspended nationwide industrial action. We also call on the Nigeria Labour Congress (NLC), Trade Union Congress of Nigeria (TUC), all regional and global working people, and civil society organizations to rise in support and solidarity against this threat from the capitalist elite.

“His wealth cannot place him above the law.

“We assure the people and government of the Federal Republic of Nigeria that NUPENG will continue to remain a patriotic, responsible, and responsive organization committed to the progress of this great country.”