GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...
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KADUNA INTERNAL REVENUE SERVICE SEALS KADUNA ELECTRIC OVER N600M UNPAID TAX. (PHOTOS).

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 Kaduna Internal Revenue Service Seals Kaduna Electric Over N600m Unpaid Tax


The Kaduna State Internal Revenue Service has sealed the Kaduna Electricity Distribution Company over a N600m tax liability.


Speaking to newsmen after the exercise in the early hours of Friday, the Executive Chairman of KADIRS, Jerry Adams, said the operation was an execution of a court order to restrain KAEDCO over the liability due to the state.


Adams explained that the N600m tax liability was from 2015 to 2022, when they did all the reconciliations with KAEDCO agreeing to pay a substantial amount of the liability.


The executive chairman, however, lamented, “Till this moment, since last year that the liability was established, KAEDCO has not met what it committed to do.


“We are backed by the law to seal and take over their premises in order to ensure compliance, and that is what we executed this morning, “he said.


Adams called on other businesses, individuals, corporate organisations and the public to always ensure voluntary compliance in tax payments.

More photos below. 





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