Presidential Tax Committee Counters KPMG’s Criticisms of New Tax Laws

The Presidential Fiscal Policy and Tax Reforms Committee has rejected most of the concerns raised by global advisory firm, KPMG, over Nigeria’s new tax laws, describing the firm’s publication as largely based on “misunderstanding of the policy intent” and the presentation of “opinion and preferences as facts.” The committee, in a detailed response, dated 10 January 2026, by its chairman, Taiwo Oyedele, acknowledged that KPMG raised a few useful points, particularly on implementation risks and...

Togo, Niger, Benin owe Nigeria $11.57m in electricity — NERC

The Nigerian Electricity Regulatory Commission (NERC) has disclosed that Togo, the Niger Republic, and the Benin Republic owe Nigeria a total of $11.57 million for electricity supplied in the third quarter (Q3) of 2025. The commission made this known in its Q3 2025 report, released this week. According to NERC, the Market Operator (MO) issued an invoice of $18.69 million to the three countries for electricity supplied by Nigerian electricity generation companies (GenCos) under bilateral...

New Tax Laws to Take Effect January 1, 2026 — Tinubu

President Bola Ahmed Tinubu has confirmed that Nigeria’s new tax laws will take effect on 1 January 2026, as previously scheduled, dismissing calls for a pause or reversal amid growing public debate over certain provisions of the gazetted law. In a State House press statement issued on Tuesday, 30 December 2025, the President stated that both the tax laws that took effect on 26 June 2025 and those slated for implementation in 2026 would proceed...

Finance Ministry Assures Investors After Joint Nigeria–US Security Operation

The Federal Ministry of Finance has assured investors and international partners that Nigeria remains stable and focused on economic growth, following a joint security operation conducted by Nigerian and United States forces in Sokoto on Christmas Day. In a statement issued on Sunday, Minister of Finance and Coordinating Minister of the Economy Wale Edun said the operation should not be misinterpreted as a sign of internal conflict or instability. “Nigeria remains firmly on a path...

Tinubu Writes Off $1.42bn, ₦5.57trn NNPC Legacy Debts

President Bola Tinubu has approved the cancellation of a substantial portion of the debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account, resulting in a reduction of approximately $1.42 billion and ₦5.57 trillion after a reconciliation of records. The approval was contained in a document prepared by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and presented at the November 2025 meeting of the Federation Account Allocation Committee (FAAC). According...

Tax Laws Issues: Oyedele Urges Nigerians to Await Lawmakers’ Findings

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has urged Nigerians to exercise patience and await the outcome of an investigation by the House of Representatives into claims that discrepancies exist between the gazetted tax laws and the versions passed by the National Assembly. The call follows allegations raised last Wednesday by Abdussamad Dasuki, a member of the House of Representatives from Sokoto State, who claimed that the tax laws...

Nigerian Workers Protest Against Insecurity

Ahead of the Christmas and New Year festive period, members of the Nigeria Labour Congress (NLC) took to the streets across the 36 states of the federation and the Federal Capital Territory (FCT) on Wednesday, protesting against the insecurity that has bedeviled the country. The protest, which commenced as early as 8 am in the nation’s capital, was led by the President of NLC, Joe Ajaero, accompanied by the former presidential candidate of the African...

Dangote Refinery Slashes Petrol Price to ₦699 per Litre, Market Responds

The Dangote Petroleum Refinery has again cut the price of petrol at its gantry, lowering the ex-depot rate from ₦828 to ₦699 per litre. The reduction took effect on 11 December 2025. This is the refinery’s 20th price adjustment this year as it continues to respond to market dynamics. The refinery’s petrol benchmark was reduced by ₦129 per litre, a decrease of about 15.58 per cent. The reduction follows remarks by Aliko Dangote, Chairman of...

CBN Raises Weekly Cash Withdrawal Limits for Individuals, Businesses

The Central Bank of Nigeria (CBN) has announced revisions to its cash withdrawal and cash deposit regulations, increasing weekly withdrawal limits for individuals and corporate entities. Effective 1 January 2026, all deposit-taking institutions must allow: Individuals to withdraw up to ₦500,000 per week and corporates up to ₦5 million per week across all cash-out channels (ATM, POS, over-the-counter). ATM withdrawals fixed at ₦100,000 per day, within the overall weekly ceiling of ₦500,000. The removal of...

AVIC-KDN Exhibits Integrated Aviation Solutions at Nigeria Air Show

Aviation engineering company AVIC-KDN is showcasing its full range of airport and airline solutions at the Nigeria Air Show, which opened Tuesday in Abuja and will run until Thursday, 4 December. AVIC-KDN is participating as a major sponsor and exhibitor. The company stated that its presence reflects its commitment to supporting Nigeria’s efforts to strengthen airport infrastructure, improve operational standards, and enhance overall aviation efficiency. “This is why we opened our Abuja office in 2024,”...

WP2Social Auto Publish Powered By : XYZScripts.com