NEWS

UK Cuts Tariffs On Products From Nigeria, Others

Published

2 years ago

June 21, 2023

The United Kingdom (UK) today announced that it has radically simplified trading rules and cut tariffs on products from Nigeria and other developing countries to save businesses and consumers millions of pounds a year.

According to a statement issued on Monday by the British High Commission in Abuja, this development follows UK’s new post-Brexit Developing Countries Trading Scheme (DCTS) scheme – entering into force today, which covers 65 countries, including Nigeria.

The scheme removes or reduces tariffs and simplifies trading rules so that more products qualify for the scheme, making it more generous than the EU scheme the UK was previously a member of. The scheme will benefit developing countries looking to diversify and increase exports, driving their prosperity and creating jobs. Over time, as developing countries increase trade with the UK under the scheme, businesses could save millions more on import costs, the statement said.

In Nigeria, over 99 per cent of goods exported from the country will automatically be eligible for duty-free access to the UK. Nigeria will receive enhanced preferential access for almost 3,000 products. E.g. 4.5 per cent removed on cocoa paste, 26.5 per cent removed on fruit juices, and 14 per cent removed on prepared tomatoes, the statement added.

UK ministers for International Trade Nigel Huddleston launched the scheme while on a visit to Ethiopia’s largest industrial business park, Bole Lemi.

Speaking at the park, minister Huddleston said: “This DCTS scheme is a brilliant example of the UK taking advantage of its status as an independent trading nation and I am excited to see it implemented today.

“It will create opportunities for businesses around the world, supporting livelihoods, creating jobs and diversifying local and international supply chains. It will also benefit UK businesses and consumers by lowering import costs on a whole range of products.”

The Foreign, Commonwealth and Development Office’s Minister for Development and Africa, Andrew Mitchell, said “ the UK’s new trading scheme for 65 developing countries, DCTS, shows how we can use trade to deliver development.

“It will benefit traders around the world, including women-owned businesses, which we are supporting through the UK Trade Partnership programme.”

The scheme benefits businesses all over the world and British companies that trade with these countries in everyday products such as bicycles and camping gear.

Speaking on the launch, UK deputy British High Commissioner in Lagos, Ben Llewellyn-Jones said

“Nigeria is one of the UK’s most important partners in Africa and the UK Government is committed to working with Nigerian businesses and exporters to boost trade between our two great nations. The UK’s Developing Countries Trading Scheme harnesses the power of trade to help Nigeria and other emerging economies grow and prosper.

“One major benefit of this new UK trading scheme is that it abolishes tariffs on over 3000 everyday products that Nigeria currently exports including cocoa, cotton, plantain, flowers, fertilizers, tomatoes, frozen shrimps and sesame. The overarching aim of the new scheme is to grow trade with developing countries, boosting the economy and supporting jobs in those countries, as well as in ours

Source:- Leadership

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NEWS

EeZee Tee Refutes Apostle Anselm Madubuko’s Claims, Reaffirms Transparency and Catalogue Ownership

Published

5 months ago

January 21, 2025

Baba Blow

EeZee Tee Refutes Apostle Anselm Madubuko’s Claims, Reaffirms Transparency and Catalogue Ownership

Mercy Chinwo former label EeZee Conceptz has issued an official response to Apostle Anselm Madubuko’s press statement, rejecting claims of financial impropriety and non-cooperation during mediation efforts in its ongoing dispute with former artist Mercy Chinwo.

The label has strongly reaffirmed its transparency, contractual compliance, and rightful ownership of the music catalogue created during Mercy Chinwo’s time with the label.

In its response, EeZee Conceptz highlighted key inaccuracies in Apostle Madubuko’s account of events, asserting that the mediation process has been hindered by bias and misrepresentation of facts.

According to EeZee Conceptz, while the Apostle’s press statement attempts to frame the dispute as a financial issue, the real contention has always been the ownership of master rights.

“At the mediation meetings, the artists demanded the transfer of master rights to them, despite the clear terms of their contracts, which state that the music catalogue is owned by the label in perpetuity. These demands are not only legally unfounded but also go against the principles of fairness and respect for agreements,” the label stated.

The label emphasized that the artists are entitled only to royalties from the catalogue, which have been transparently accounted for.

“No funds were diverted by EeZee Conceptz. This entire campaign against the EeZee Tee is an orchestrated attempt to forcefully claim ownership of the music catalogue we fully funded and produced. This is a clear violation of the contract terms that both parties agreed to,” the statement added.

EeZee Conceptz also addressed allegations by Apostle Madubuko that it failed to cooperate with the audit process. According to the label, it submitted its financial records to Judikay’s personal auditors to commence the process but faced roadblocks when Apostle Madubuko stopped responding to follow-up attempts to schedule meetings for appointing mutually trusted auditors.

“Contrary to the Apostle’s claims, I personally called him several times, sent messages, and even visited his house twice in an effort to reschedule the meeting for appointing new auditors. He assured me he would revert, but to date, I have received no response,” said EeZee Tee, CEO of EeZee Conceptz.

The label further revealed that it endured undue hardship during the dispute, including the nine-day detention of its CEO in Ilorin, during which all personal and corporate accounts were frozen.

However, after extensive investigations into its books, no evidence of financial misconduct was found.

“Despite the ordeal I faced, including losing access to my family and business operations during my detention, our records were thoroughly investigated, and no wrongdoing was discovered. This is a testament to the transparency and integrity with which EeZee Conceptz operates,” the EeZee Tee stated.

EeZee Conceptz expressed disappointment in what it described as Apostle Madubuko’s biased handling of the mediation process.

“When men of God are entrusted with resolving conflicts, they must approach the matter with fairness, impartiality, and a commitment to truth.

Unfortunately, Apostle Madubuko has allowed bias to cloud his role, making false claims and failing to address breaches on the part of the artist,” the label said.

The label cited examples from the first mediation meeting, where it raised issues of one of the artists boycotting scheduled events and diverting funds to personal accounts in breach of her contract. According to EeZee Conceptz, the Apostle failed to address these breaches, further questioning the neutrality of the process.

Despite the ongoing challenges, EeZee Conceptz reiterated its commitment to fairness, integrity, and adherence to contractual agreements.

“Throughout our history, EeZee Conceptz has provided periodic financial reports to all our talents, ensuring full transparency. We remain steadfast in our commitment to uphold justice, protect the integrity of our contracts, and defend the investments we have made to support gospel creatives. We trust that the truth will ultimately prevail,” the label concluded.

Background

The dispute between EeZee Conceptz and Mercy Chinwo has gained significant public attention, centered around claims of unpaid royalties, fund diversion, and disagreements over the ownership of master rights.

In a press statement dated January 18, 2025, Apostle Anselm Madubuko detailed his involvement as a mediator, accusing EeZee Conceptz of various wrongs.

The label, however, has denied these allegations, maintaining that the real issue lies in attempts to unlawfully claim ownership of its music catalogue.

The label also revealed that its CEO, EeZee Tee, was detained for nine days during the dispute, during which its accounts were thoroughly investigated, and no wrongdoing was discovered.

The dispute has seen several failed mediation attempts, including multiple sessions where the focus shifted to the demand for master rights. EeZee Conceptz has maintained that it owns the catalogue in perpetuity and is only obligated to pay royalties to the artist under the terms of their agreement.

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NEWS

Prophet Jeremiah Fufeyin’s Generous Act: Donates Over 30 Million Naira to Help Alleviate Soaring Food Prices in Nigeria (Watch Video)

Published

1 year ago

April 11, 2024

Baba Blow

Billionaire prophet and General Overseer of Christ Mercyland Deliverance Ministry in Warri, Delta State, Prophet Jeremiah Fufeyin, has given out over N30 million in charity to reduce the current economic crisis faced by the masses.

In a viral video on social media, Fufeyin, known for his philanthropic gestures, was seen giving out wads of cash to church members to ameliorate the rising price of food items in the country.

The humanitarian effort has caught the attention of netizens, capturing the hearts of many amid the current challenging times.

Fufeyin has emerged as a beacon of hope by extending a remarkable gesture of kindness towards struggling church members even as he stressed the need for well-meaning Nigerians to help assuage the challenges of the masses.

This spontaneous and substantial donation not only alleviated immediate concerns but also underscored Fufeyin’s deep empathy for those affected by economic hardship.

The response to Fufeyin’s act of benevolence has been overwhelmingly positive, with Nigerians taking to social media platforms to commend his compassion and selflessness. Amidst a climate of economic uncertainty and rising living costs, Fufeyin’s initiative has resonated deeply, sparking discussions about the importance of generosity and communal support during trying times.

Fufeyin expressed his motivation for the donation, citing a desire to alleviate the suffering of his church members and fellow Nigerians in tangible ways.

He emphasised the necessity of collective action in addressing societal challenges and urged others, particularly those in positions of influence, to contribute towards uplifting the less fortunate.

The impact of Fufeyin’s philanthropy extends beyond financial assistance, serving as a powerful reminder of the potential for positive change when individuals leverage their resources for the greater good of all.

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Entertainment

Big Dreams, is set to release his debut Single’s , ‘Vanity & Painful On January 26th

Published

1 year ago

January 19, 2024

Baba Blow

Delta State Born Singer, Big Dreams, is set to release his debut album,My Way ‘,’Coming Soon.

With they announcement of his two singles which are set to be released on 26 January 2024.

In the digital era of Afrobeats, the music superstar, Big Dreams, has established a name for himself thanks to a succession of great singles and collaborations.

They man of they moment has done great works, therefore this album will set a pathway to Greatness.

The musician made this announcement via his Twitter account. He characterized the album as everything he desires and all he stands for.

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