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Kenya President, Ruto declines assenting Finance Bill 2024
Kenyan President William Ruto has declined to assent to the Finance Bill, 2024.
Ruto has returned the bill to Parliament with proposed amendments for consideration before their recess on Wednesday.
Parliament has the option to amend the bill in response to the president’s concerns or pass it again without changes.
In his return of the bill, the president will highlight key areas needing alteration.
If MPs amend the bill to fully address the president’s reservations, the speaker will resend it to Ruto for assent.
If Parliament considers the president’s reservations but passes the bill a second time, either without amendments or with amendments not fully addressing his concerns, it must have the support of two-thirds of the members.
With MPs set to go on recess from Thursday until July 23, the speaker may need to recall them if the president returns the document during this period.
Some of the tax proposals initially included in the bill, such as a 16 percent VAT on bread, excise duty on vegetable oil, VAT on sugar transportation, a 2.5 percent motor vehicle tax, and an eco levy on locally manufactured products, have been removed.
The bill passed the committee of the whole house after these amendments were made.
This committee format allows for detailed examination of each clause, ensuring thorough consideration before the bill progresses to subsequent stages of legislative review.
Dangote Refinery has announced that it will need to export 95-97 percent of its Premium Motor Spirit (petrol) due to low interest from Nigerian marketers. The refinery, which processes 650,000 barrels per day, revealed that only 3 to 5 percent of petrol marketers are purchasing its fuel.
Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, shared these details during an X Space session hosted by Nairametrics on Wednesday. He highlighted the challenges facing both the Dangote Refinery and Nigeria’s oil and gas sector.
Edwin explained, “I’m selling 2 to 3 percent to small traders who are willing to buy, while the remaining 95 to 97 percent has to be exported,” referring to the local sales of the refinery’s products.
This situation arises as the NNPCL’s deadline for adjusting the Dangote Refinery’s fuel distribution approaches without a clear plan in sight. It is worth noting that while Aliko Dangote, President of Dangote Group, has announced the refinery’s initial petrol rollout, its distribution to marketers is contingent upon NNPCL’s decisions.
The final sixteen teams for the 2024 FIFA U-20 Women’s World Cup in Colombia have been determined following the conclusion of the group stage.
In recent matches, Ghana triumphed over New Zealand with a score of 3-1, and Japan secured a 2-0 victory against Austria.
As a result, Japan has advanced to the Round of 16, joining the other 15 teams in this knockout stage.
The Round of 16 matches are scheduled for Wednesday, Thursday, and Friday.
The full lineup for the Round of 16 is as follows:
- Spain vs Canada
- Brazil vs Cameroon
- Colombia vs South Korea
- Mexico vs USA
- North Korea vs Austria
- Germany vs Argentina
- Netherlands vs France
- Japan vs Nigeria
The Nigerian Army has refuted claims of widespread resignations among its soldiers due to issues like corruption and low morale.
In a statement, Major General Onyema Nwachukwu, Director of Army Public Relations, dismissed these reports as unfounded.
A news outlet had alleged that numerous Nigerian soldiers were resigning because of corruption and low morale. However, the statement condemned these allegations as misleading and a deliberate attempt to create discontent and undermine the Nigerian Army’s reputation and the dedication of its personnel.
Major General Nwachukwu clarified that, similar to other military organizations worldwide, service in the Nigerian Army is voluntary rather than mandatory. This means that personnel have the freedom to resign following established procedures.
He explained that the resignation process allows personnel to prepare and manage their entitlements, including pensions and gratuities, as outlined in the Harmonized Terms and Conditions of Service (Officers/Soldiers).
Contrary to the report’s implications, the statement emphasized that Nigerian Army personnel are highly motivated, and their welfare is a priority under the leadership of Chief of Army Staff, Lieutenant General Taoreed Lagbaja.
We’ll be forced to export 97% of our petrol – Dangote Refinery warns
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