OVER 25 MILLION PHONES STOLEN IN ONE YEAR- FG. (PHOTO).

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 Over 25 million phones stolen in one year – FG The Crime Experience and Security Perception Survey report of the National Bureau of Statistics, a Federal Government agency, shows that Nigeria recorded 25.35 million phone theft cases between May 2023 and April 2024. According to the report, this was the most common type of crime within the period under review. The report read, “The number of crimes experienced by individuals in Nigeria was analysed over a period of time. The results show that theft of phones (25,354,417) was the most common crime experienced by individuals, followed by consumer fraud (12,107,210) and assault (8,453,258). However, hijacking of cars (333,349) was the least crime experienced by individuals within the reference period.” It also noted that most phone theft cases occurred either at home or in a public place, and about 90 per cent of such cases were reported to the police. Despite the high rate of the incident being reported, only about 11.7 per cent of t...
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NEW EXCISE DUTY RATES NOT TARGETED AT LOCAL MANUFACTURES-FINANCE MINISTRY.

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     FEDERAL MINISTRY OF FINANCE
    HEADQUARTERS, AHMADU BELLO WAY, CBD
     PRESS UNIT, 4TH FLOOR
    News Release 
     Sunday, 10th June, 2018

 The attention of the Federal Ministry of Finance has been drawn to media reports that the new excise duty rates approved by President Muhammadu Buhari on alcoholic beverages and tobacco were targeted at local manufacturers.
2. The Ministry wishes to unequivocally state that the new excise duty rates which came into effect from Monday, 4th June, 2018, were not targeted at the local manufacturers.
3. The new excise regime seeks to achieve a dual benefit of raising the Government’s revenues to support the nation’s growth and reducing the health hazards associated with tobacco-related diseases and alcohol abuse.
4. Contrary to claims that the rates were selectively imposed on local manufacturers, there is currently a 60 per cent duty rate imposed on imported alcoholic beverages and tobacco as part of measures by the Government to encourage local production and protect local manufacturing industry. It should also be noted that beer and stout are currently under import prohibition to protect the industry from unfair competition from foreign brands.
5. In addition, other locally excisable products such as non-alcoholic beverages, cosmetics, perfumes, corrugated papers or paper boards and cartons have no excise duties.
6. We wish to clarify that the approved excise duty rates followed all-encompassing engagements with key industry stakeholders by the Tariff Technical Committee (TTC), of which Manufacturers Association of Nigeria (MAN) is a member. The stakeholders’ engagements contributed to the final recommendation.
7. The Federal Government remains committed to the industrialization agenda and shall continue to put in place fiscal policy measures to protect local manufacturers and stimulate the growth of the economy.
Signed:
Hassan Dodo    
Director (Information)
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