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Economy
Oyedele – No automatic bank deductions under new tax laws
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has assured Nigerians that the new tax laws scheduled to take effect on January 1, 2026, will not involve automatic deductions from personal bank accounts, as the reforms are based on self-declaration rather than direct debits. Oyedele gave the assurance while […]
New Tax Laws Will Take Effect January 1, Tinubu Insists
President Bola Tinubu has dismissed calls made by opposition figures and pressure groups to delay the implementation of the newly enacted tax laws. In a statement, Tinubu insisted that the tax laws will take effect on January 1, stressing that the reforms are not intended to impose additional tax burdens on citizens. Instead, he explained that […]
Anambra Governor Soludo Signs 2026 budget, 3 Other Bills Into Law
Anambra State Governor, Professor Chukwuma Soludo, has signed four Bills, including the 2026 Appropriation Bill into law. The Bills were recently passed by the State House of Assembly. The state’s budget was increased from N757.5 billion, to N766 billion by the state House of Assembly which, the lawmakers said, was to drive economic growth, infrastructure […]
Reps Minority Caucus Calls For Suspension of Tax Reforms Implementation
The Minority Caucus of the House of Representatives has expressed deep concern over allegations that recently passed Tax Reform laws may have been unlawfully altered after being approved by the National Assembly and signed into law by President Bola Ahmed Tinubu. In a statement issued on behalf of the caucus, the Minority Leader, Rep. O.K. […]
FG Cancels $1.42bn, N5.57tn NNPC debt
President Bola Tinubu has approved the cancellation of a substantial portion of the debts owed by the Nigerian National Petroleum Company Limited to the Federation Account, wiping off about $1.42bn and N5.57tn after a reconciliation of records between both parties. The report, titled “Report of October 2025 Revenue Collection Presented at the Federation Account Allocation […]
National Assembly Commences Internal Review of Disputed Tax Laws
The National Assembly has initiated an internal investigation into allegations that certain provisions of the recently passed tax reform laws were altered after approval by lawmakers and presidential assent. The development was disclosed in a statement issued in Abuja by the Director of Information for the Senate, Bullah Audu Bi-Allah. The move followed growing public […]
₦58.47tr 2026 Budget Passes Second Reading in Senate
The Senate has passed the ₦58.47 trillion Appropriation Bill for the 2026 fiscal year for second reading following a debate on its general principles during plenary. President of the Senate, Godswill Akpabio, also announced that the upper chamber would adjourn its sitting until January 27, 2026. Read Also: Rivers Assembly Resumes Plenary After Six Month […]
New Tax Laws Will Take Effect January 1 – FG
The Federal Government has insisted that the implementation of the newly enacted tax laws will take effect from January 1, insisting that there has been no change to the version signed into law. The Minister of Information and National Orientation, Mohammed Idris, clarified in Abuja amid public controversy over reports that the gazetted copy of […]
Oyedele Clarifies Controversy Over Alleged Changes to Tax Laws
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has warned that failure to implement Nigeria’s new tax laws by January 1, 2026, would leave most Nigerians worse off. Speaking on national television, Oyedele said about 98 per cent of workers would continue to suffer multiple taxation if the reforms are delayed. According […]
Dangote Refinery Begins Nationwide PMS Sales at N739/Litre
Dangote Petroleum Refinery has launched the sale of Premium Motor Spirit at a pump price of N739 per litre, making the product available at all MRS Oil Nigeria plc filling stations nationwide. With over 2,000 MRS stations nationwide, the reduced pricing is expected to benefit consumers across the country, marking a major step in the […]