General
General Electric in Multi-Million Dollar Tax Deduction Mess
By TheCable
General Electric (GE) withheld tax in excess of $3 million from its payments to Arco Group Plc, a Nigerian oil servicing company, according to documents seen by TheCable.
There is strong evidence backing Arco’s allegation, but GE has told TheCable it would not comment “for confidentiality reasons”.
In one of the documents, Arco claimed that GE deducted 10% as withholding tax for a contract between 2006 and 2015 as against the 5% stipulated by Nigerian laws.
GE, a multinational company operating in the Nigerian oil and gas sector, had engaged Arco for the supply of local personnel.
“Our interpretation of the contract of supply is that the applicable WHT rate should be 5% in line with the Federal Inland Revenue Service Circular No. 2006/02 dated February 2006,” Arco wrote, in a letter addressed to the Federal Inland Revenue Service (FIRS) seeking clarification on the applicable withholding tax rate to the contract.
“However, the IOC insisted that the rate is 10% in line with the contract for technical services in the same circular under reference. However, section 3.5 of the circular (Lines 8-11) referred to what should be classified as technical services states: the use of industrial machinery/equipment to provide a service does not render it to be technical because industry position requires that only arrangements that involve a transfer of technology, should be classified as technical.”
In a mail dated June 21, 2017, Fasilat Ransome-Kuti of General Electric Corporate, who was subsequently introduced as a senior manager from Price Waterhouse Coopers (PwC), advised ARCO Group to seek clarification from the FIRS.
“We request you seek the clarification from the tax policy unit of FIRS in Abuja as only such clarification will suffice and give us comfort,” she wrote.
“Also, we are unable to suspend the remittance of WHT on payment to Arco as this will amount to non-compliance. There is penalty for non-compliance and this will be an additional cost to GE.”
In a letter dated November 2, 2017, and signed by Tunde Fowler, FIRS chairman, he said the only part of the contract that is subject to 10% tax is office rent which is to be deducted by Arco and remitted to FIRS.
Responding to the letter, GE said they had engaged PwC to confirm from FIRS.
It also expressed willingness to liaise with the FIRS on how the excess will be treated in the event the service upholds its position.
“This is based on the fact that the tax has already been deducted and remitted to the FIRS by GE. It is our view that the FIRS should either refund the excess WHT to Arco or apply it as a credit against Arco’s future tax liability,” GE wrote.
In a letter dated March 6, 2018, and signed by Benjamin Omotomiye, its group head of finance and admin, Arco demanded a refund of the funds deducted within the eight-year period.
He wrote: “What we are requesting now, is the refund of 50% of total WHT deducted from Arco’s invoices from the period 2006 to 2015 as earlier communicated to you in our letter dated November 6, 2017, following the FIRS’ clarification as follows:
– €56,577.61 (Fifty-six thousand, five hundred and seventy-seven euros, sixty-one cents)
– $2,923,642.36 (Two million, nine hundred and twenty-three thousand, six hundred and forty-two dollars and thirty-six cents)
– N360,482,041.19 (Three hundred and sixty million, four hundred and eighty-two thousand, forty-one naira and nineteen kobo).”
When TheCable reached out to GE for a reaction, the company refused to comment.
“On the questions raised, we can confirm the existence of a contractual relationship between Arco Group and ourselves,” Obagbemi Olusegun of BHGE Communications Sub-Saharan Africa, said.
“However, due to the confidentiality provisions governing this relationship, we are unable to disclose details of commercial dealings between both parties.
“I trust you understand our position on this.”
General
Pastor Ogbueli’s Abuja Night of Glory Holds Today
By Blaise Udunze
Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.
The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.
The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.
Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.
Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.
The event is intended for all individuals trusting God for divine intervention in any area of life.
Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.
Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.
Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.
General
Rivers Speaker, 15 Other Lawmakers Leave PDP for APC
By Modupe Gbadeyanka
The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).
At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.
This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.
The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.
This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.
A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.
Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.
It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.
Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.
General
Nigeria Risks Brain Drain in Energy Sector—PENGASSAN
By Adedapo Adesanya
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.
The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.
Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.
“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.
According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.
“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.
He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.
Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.
He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.
“This industry recruits the best. Companies must provide the best conditions,” he said.
On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.
“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.
He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.
Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.
He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.
“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.
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