Inflow
PIB: IPMAN commends National Assembly for inclusion of PEF
The Independent Petroleum Marketers Association of Nigeria has commended the National Assembly for the inclusion of the Petroleum Equalisation Fund in the newly passed Petroleum Industry Bill. The Public Relations Officer of IPMAN, Yakubu Suleiman, gave the commendation on Sunday in a statement. Suleiman said the legislative arm of government had demonstrated that it was sensitive to the yearnings of majority of Nigerians for a permanent solution to the energy problems in the country. He said the entire content of the bill as passed by the Senate would serve as a catalyst for the inflow of the much desired foreign direct investment to boost the economy. He said: “The much awaited Petroleum Industry Bill has come to ease Nigerians of the pains that necessitated the call for the Bill in the ...
Lagos governor: We are ready to domesticate AfCFTA agreement
Lagos State Governor, Mr Babajide Sanwo-Olu, says the state is ready to domesticate the African Continental Free Trade Area (AfCFTA) agreement. Sanwo-Olu said this on Tuesday when he received the Minister for Industry, Trade and Investment, Mr Niyi Adebayo, on a courtesy visit at the Lagos House, Ikeja. The minister led members of the National Action Committee on nationwide sensitisation on African Continental Free Trade Area (AfCFTA), which the nation entered into to deepen economic integration among African countries. He said that Lagos had observed the processes leading to the adoption of the continental trade agreement and positioned itself for market expansion across areas of collaboration. The governor said the state was ready to take advantage of the AfCFTA for growth, as a local ac...
Court stops COSON from general distribution practice
A Federal High Court sitting in Lagos has declared that the General Distribution which is practised by the Copyright Society of Nigeria, COSON, is illegal. The practise involves the annual distribution of the same amount of music royalties, usually about N30,000 each, to thousands of the organization’s members. This practice was challenged in court by the Music Publishers’ Association of Nigeria, MPAN, in Suit No. FHC/L/CS/1418/2019; Green Light Music Publishing Ltd, Chocolate City Music Ltd, Premier Music Publishing Company Ltd v. Copyright Society of Nigeria Ltd/Gte. The judgement which was delivered on November 25, 2020, by Justice Oguntoyinbo also ordered COSON to stop further distribution of royalties “in a manner known as ‘General Distribution’ or how so ever called which does not re...
