President Bola Tinubu has approved the introduction of electric vehicles in the geopolitical zone to reduce transportation costs.

Mohammed Alkali, CEO of the North East Development Commission (NEDC), disclosed this while speaking with state house correspondents on Wednesday.

He said the decision was reached as a result of plans to create modular solar power units across states in the region.

He said NEDC has conducted a “thorough” analysis of compressed natural gas (CNG) and e-vehicles and concluded that the later are better suited for the region.

Abdulsalam Ahmed, executive director of operations for NEDC, said the e-vehicle fleet will comprise three categories.

These are e-buses designed for intra-state movements with a minimum capacity of 40 people per trip, e-taxis capable of carrying three people including the driver, and modified tricycles enhanced to carry eight people including the driver.

He said the commission prioritised local content and will ensure that the vehicle bodies can be fabricated locally in the north-east or other parts of the country.

“We are here today to brief Mr president on one very critical activity he has approved which we had to engage in the last two months,” he said.

“As you can recall, there is a directive from the president that cars as soon as possible should use CNG or electric vehicles. We, at the north-east development commission, did a thorough analysis of our region, and looked at the comparable advantage between CNG and e-vehicles.

“After our thorough analysis, we came to the conclusion that for the north-east region, yes, the CNG could work, but e-vehicle can work better for many reasons.

“One is that our plan at the end of day is to create modular solar power units across the state which can be used to power this percentage of e-vehicles.

“On that note, earlier on, we sought and got approval of the presidency for us to go ahead and come up with the framework of how we are going to deploy this e-mobility in the northeast and what kind of e-mobility, etc.

”Mr. President graciously gave approval, and today, we came to present to him the kind of e-vehicles we are going to introduce in the morth-east.”

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has recovered over N13 billion in public funds diverted in September 2024.

Musa Aliyu, ICPC chair, disclosed this on Wednesday at the launch of the commission’s strategic action plan for 2024 to 2028.

Aliyu said the achievement reflects ICPC’s efforts towards eliminating corruption and promoting accountability in the country.

“Over the past years, the ICPC has made significant progress in discharging its mandate; for example, we recovered over N13 billion diverted public funds in September 2024 alone,” Aliyu said.

“This is just one of the many ways we have worked tirelessly to fulfill our mandate.”

The ICPC boss said the commission is also digitalising its operation to enable it conduct effective and robust investigations.

He added that ICPC is also working towards identifying institutional and administrative vulnerabilities through system studies and corruption risk assessments.

“We are also embarking on ICT reforms that will digitalise our operations and enable more efficient investigations, case management, and internal processes,” he added.

“This transformation will position the commission as a leader in leveraging technology to combat corruption, keeping us one step ahead of criminal activities in the digital age.

“We have also continued to engage with the Anti-Corruption and Transparency Units (ACTUs) in ministries, departments, and agencies (MDAs), reinforcing our grassroots monitoring mechanisms.

“As we look ahead, the success of this strategic plan will rely heavily on synergy, collaboration, and strategic partnerships. I want to reaffirm the ICPC’s commitment to a multi-agency approach in tackling corruption.”

The federal government says it has introduced concessions aimed at revitalising the oil and gas industry to ensure a boost in Nigeria’s upstream and downstream sectors.

Wale Edun, minister of finance and coordinating minister of the economy, unveiled two major fiscal incentives on Wednesday.

According to a statement by Mohammed Manga, director, information and public relations at the ministry of finance, the incentives are aimed at revitalising Nigeria’s oil and gas sector.

The spokesperson said they include value-added tax (VAT) modification order 2024 and notice of tax incentives for deep offshore oil and gas production, in accordance with the Oil and Gas Companies (tax incentives, exemption, remission, etc.) Order 2024.

“The VAT Modification Order 2024 introduces exemptions on a range of key energy products and infrastructure, including Diesel, Feed Gas, Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), Electric Vehicles, Liquefied Natural Gas (LNG) infrastructure, and Clean Cooking Equipment,” Manga said.

“These measures are designed to lower the cost of living, bolster energy security, and accelerate Nigeria’s transition to cleaner energy sources.”

He said the notice of tax incentives for deep offshore oil and gas production provides new tax reliefs for deep offshore projects.

“This initiative is aimed at positioning Nigeria’s deep offshore basin as a premier destination for global oil and gas investments,” Manga said.

“These reforms are part of a broader series of investment-driven policy initiatives championed by His Excellency, President Bola Ahmed Tinubu, in line with Policy Directives 40-42.

“They reflect the administration’s strong commitment to fostering sustainable growth in the energy sector and enhancing Nigeria’s global competitiveness in oil and gas production.”

With these bold initiatives, he said Nigeria is solidly on track to reclaim its position as a leader in the global oil and gas market.

The fiscal incentives, according to the ministry’s spokesperson, demonstrate the administration’s unwavering commitment to fostering sustainable growth, enhancing energy security, and fostering economic prosperity for all Nigerians.