Business

Nigerians to pay more as UK announces hike in visa fees, health surcharge

Published

1 year ago

July 14, 2023 6:37 am

BodexNG

Rishi Sunak, the UK prime minister, says the surcharge paid for the state-funded national health service (NHS) by visa applicants from around the world will “increase significantly”.

Sunak, who spoke on Thursday during a Downing Street press conference, said migrants will also pay more for visa applications.

The development is set to hit Nigeria with one of the highest numbers of migrants to the UK.

The British-Indian leader, who was under pressure to accept the recommendation of an independent review of pay for teachers, police, junior doctors and other public sector workers, confirmed a hike between 5 percent and 7 percent across the board.

“If we’re going to prioritise paying public sector workers more, that money has to come from somewhere else because I’m not prepared to put up people’s taxes and I don’t think it would be responsible or right to borrow more because that would just make inflation worse,” Sunak said.

“So, what we have done are two things to find this money. The first is, we are going to increase the charges that we have for migrants who are coming to this country when they apply for visas and indeed something called the immigration health surcharge (IHS), which is the levy that they pay to access the NHS.

“All of those fees are going to go up and that will raise over £1 billion. So, across the board visa application fees are going to go up significantly and similarly for the IHS.

Sunak added that this was “entirely right” as these fees have not been increased recently.

He said the government believes it is appropriate given that the costs have risen since the last hike.

According to Sunak, this move will have no effect on inflation because there would be no new borrowing or spending to fund the increases.

He added that the funds would have to be sourced elsewhere.

“Teachers’ pay rises would be funded by a reallocation of the existing department budget, ” he said.

Business

Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS

Published

48 mins ago

November 25, 2024 1:29 pm

BodexNG

The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.

The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.

Business

Dangote refinery reduces ex-depot price of petrol to N970 for oil marketers

Published

3 hours ago

November 25, 2024 11:01 am

BodexNG

The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.

This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.

The slash would help marketers save about N20 on each litre of petrol bought from the Lekki-based plant.

Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.

“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

Business

Allegation of missing fund untrue, says Access Bank

Published

5 hours ago

November 25, 2024 9:16 am

BodexNG

Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.

The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.

“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.

“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.

“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.

“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.

“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.

“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.

“We remain committed to serving our customers.”

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others