Here are the seven top business stories you need to track this week — June 23 to June 27.
N’ASSEMBLY TRANSMITS TAX REFORM BILLS TO TINUBU FOR ASSENT
The national assembly has transmitted the tax reform bills to President Bola Tinubu for assent.
Yemi Adaramodu, chairman of the senate committee on media and public affairs, relayed the development on June 18 during a press briefing at the National Assembly Complex.
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The harmonised versions were adopted by the senate and house of representatives on May 25.
PENCOM TO BLACKLIST ORGANISATIONS FAILING TO REMIT PENSIONS
The National Pension Commission (PenCom) says it will blacklist organisations that fail to meet their pension remittance obligations from November 10.
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Omolola Oloworaran, the director-general (DG) of PenCom, announced the plan during the commission’s second-quarter media briefing held in Lagos on Wednesday.
Oloworaran said it is now “zero tolerance for non-compliance” as PenCom adopts a firmer stance to enforce the 2014 Pension Reform Act.
TELCOS TO CUSTOMERS: REPORT ANY BANK CHARGING YOU FOR USSD SERVICE
Gbenga Adebayo, chairman of the Association of Licensed Telecom Operators of Nigeria (ALTON), has asked customers to report any bank that charges for USSD service after their mobile airtime has been deducted.
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This comes as telcos begin the implementation of the new end-user billing model for unstructured supplementary service data (USSD) services.
Speaking at an event on June 19, Adebayo advised consumers to contact their banks if a deduction occurs on their accounts for USSD services, stressing that telecoms operators are not responsible for those extra charges.
‘178 ELECTRICITY TOWERS DESTROYED BY VANDALS IN 2025 ALONE’
The Transmission Company of Nigeria (TCN) says it has recorded at least 42 acts of vandalism, affecting 178 towers so far.
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Ali Sharifa, general manager of transmission service at the TCN, spoke on June 19 during a presentation on infrastructure vandalism at a workshop organised for journalists in Keffi, Nasarawa state.
Sharifa said 2024 and 2025 have been the most challenging years for the company as a responsive public utility due to the vandalism of its transmission infrastructure by non-state actors.
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CAC TO REVIEW SERVICE FEES
The Corporate Affairs Commission (CAC) says it will review certain service fees from August 1.
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In a statement on June 17, signed by the commission’s management, CAC said the review is part of its ongoing efforts to enhance service quality and delivery.
The commission assured the public that the review is modest, competitive, and aligned with its commitment to improving service delivery through digitalised operations.
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AIR PEACE GETS UK APPROVAL TO FLY INTO HEATHROW AIRPORT
Air Peace, Nigeria’s flagship carrier, is set to begin flight operations to London Heathrow Airport, following months of diplomatic engagements between Nigeria and the United Kingdom (UK).
Festus Keyamo, minister of aviation and aerospace development, confirmed the development in a statement on Saturday on his official X page.
According to Keyamo, Nigeria had finally secured a slot at Heathrow airport for the airline under the bilateral air services agreement (BASA) with the UK.
DANGOTE REFINERY INCREASES EX-DEPOT PETROL PRICE TO N880 PER LITRE
Dangote Petroleum Refinery has raised its ex-depot price for premium motor spirit (PMS), also known as petrol, to N880 per litre.
The hike represents a N55 increase from the previous rate of N825 per litre.
Abubakar Shettima, national president of IPMAN, confirmed the development to TheCable on Saturday.
ISRAEL-IRAN WAR EFFECT ON PETROL PRICES
Oil prices increased on June 18 as the ongoing Iran-Israel conflict showed no signs of resolution.
Brent crude rose by 5.29 percent to $77.04 a barrel at 22.15 WAT, while US West Texas Intermediate crude increased by 5.28 percent to $74.84 a barrel.
According to Reuters, although oil flows remained uninterrupted, Iran partially suspended gas production at the South Pars field, which it shares with Qatar, following a fire triggered by an Israeli strike on June 14.
