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NIPOST Insists on Collecting Stamp Duty

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The collection of stamp duty is the statutory duty of Nigerian Postal Service (NIPOST), as clearly stated in the Stamp Duty Act, according to Bisi Adegbuyi, post master general/ chief executive officer of NIPOST.

NIPOST Insists on Collecting Stamp Duty

Adegbuyi who stated this at an interactive session with newsmen in Abuja, said that said the Office of the Accountant General had also issued a circular to NIPOST on the collection of both physical and electronic stamp duty of N50, maintaining that there is no conflict between NIPOST and Federal Inland Revenue Service(FIRS) in the collection of stamp duty.

Recall that Hajiya Zaynab Ahmed, minister of Finance, Budget and National Planning, had announced last week that the Federal Inland Revenue Service (FIRS) will automatically become an agency to collect the Stamp Duty following the passage of the 2019 Finance Bill by the National Assembly which contains an amendment to Stamp Duty Act.

But Adegbuyi announced that the postal agency has collected N45.8billion as proceeds from stamp duty as of December 13, 2019.

The Post Master General disclosed that a committee had been constituted to audit banks that collect stamp duty to ensure that actual amount collected by them is remitted to the stamp duty account, domiciled in the Federation Account.

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He said the NIPOST management and staff were irrevocably committed to ensuring that the present administration led by President Muhammadu Buhari delivers on its mandate to the citizenry, in line with Economic Recovery and Growth Plan (ERGP).

To ensure efficient service delivery, he said, plans were underway to ensure partial commercialisation of NIPOST, adding that it would be one of the major cardinal mandates of NIPOST in 2020.

He noted that already National Council on Privatisation had commenced work on the partial commercialisation of NIPOST.

Adegbuyi added that the Bureau of Public Enterprises (BPE) had appointed a world class advisor to realise the objective.

In the proposed partial commercialisation, he allayed the fear that staff of NIPOST would be relieved of their jobs; rather, he said, new jobs would be created upon completion of the exercise.

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As part of his plans to ensure total turnaround of the post offices across the country, Adegbuyi vowed to ensure automation of all NIPOST services as well as digitally transform the organisation in 2020.

He said: “I am setting an agenda for the new NIPOST which is beyond mail delivery. It would render services that would touch the lives of all Nigerians.

“There will be bonding. Government will realise that it has a parastatal it can use to reach the people, especially our people who live in the rural areas for communication and delivery of social economic development.”

 

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Atte, Nigerian Develops AI Algorithm for Hair Transplants

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Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.

Atte, Nigerian Develops AI Algorithm for Hair Transplants

Atte Ayodeji

Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.

Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.

His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.

Sunday Dare, special adviser on Media and Public Communication to President Tinubu,  celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.

“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”

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Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”

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FG to Abolish Subsidies in Power Sector in 2027 – Minister

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Mr. Joseph Tegbe, minister of Power, has said that the federal government plans to end power sector subsidies from 2027 and that there are no immediate plans for tariff increases.

FG to Abolish Subsidies in Power Sector in 2027 – Minister

Mr. Joseph Tegbe, minister of Power

The minister told journalists during the media interactive session at the weekend that the government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting liabilities in the power sector.

He explained that the planned removal forms part of the broader reforms aimed at ensuring the long-term sustainability of the electricity sector, while tackling the financial challenges confronting the industry.

According to the minister, despite the planned subsidy withdrawal, there are no immediate plans to increase electricity tariffs, reassuring consumers that the government is not considering a tariff hike in the short term.


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AfCFTA Urges Africa to Stop Exporting Raw Materials

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Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.

She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.

According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.

“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.

Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.

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“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.

She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.

Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.

“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.

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