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

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

By Ezinwanne Onwuka (Senior Reporter)December 30, 2025

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...

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Finance Ministry Assures Investors After Joint Nigeria–US Security Operation

BusinessNewsNigeriaFinance Ministry Assures Investors After Joint Nigeria–US Security Operation

By Ezinwanne Onwuka (Senior Reporter)December 29, 2025

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...

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

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

By Ezinwanne Onwuka (Senior Reporter)December 29, 2025

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...

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

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

By Ezinwanne Onwuka (Senior Reporter)December 23, 2025

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...

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Nigerian Workers Protest Against Insecurity

BusinessNewsNigeriaNigerian Workers Protest Against Insecurity

Hassan Umar Shallpella (Regional Correspondent)December 18, 2025

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...

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

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

By Ezinwanne Onwuka (Senior Reporter)December 12, 2025

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...

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CBN Raises Weekly Cash Withdrawal Limits for Individuals, Businesses

BusinessNewsNigeriaCBN Raises Weekly Cash Withdrawal Limits for Individuals, Businesses

By Ezinwanne Onwuka (Senior Reporter)December 4, 2025

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...

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AVIC-KDN Exhibits Integrated Aviation Solutions at Nigeria Air Show

BusinessNewsNigeriaAVIC-KDN Exhibits Integrated Aviation Solutions at Nigeria Air Show

By Ezinwanne Onwuka (Senior Reporter)December 2, 2025

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,”...

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CBN Retains Interest Rate at 27% as Inflation Falls to 16.05%

BusinessNewsNigeriaCBN Retains Interest Rate at 27% as Inflation Falls to 16.05%

By Ezinwanne Onwuka (Senior Reporter)November 25, 2025

The Central Bank of Nigeria (CBN) on Tuesday maintained the country’s benchmark interest rate, the Monetary Policy Rate (MPR), at 27 percent, as the bank stated that it seeks to build on recent gains in inflation and exchange-rate stability. Governor Olayemi Cardoso announced the decision at a press conference at the end of the 303rd meeting of the Central Bank’s Monetary Policy Committee (MPC), held in Abuja. In addition to holding the MPR at 27...

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Nigeria’s FX Reserves Hit $46bn, Highest Level Since 2018 — CBN

BusinessNewsNigeriaNigeria’s FX Reserves Hit $46bn, Highest Level Since 2018 — CBN

By Ezinwanne Onwuka (Senior Reporter)November 18, 2025

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has declared that the country’s foreign-exchange (FX) reserves have risen to over US$46 billion. Speaking at the opening of a colloquium to mark the 20th anniversary of the CBN’s Monetary Policy Department, Cardoso, represented by Deputy Governor Muhammad Abdullahi (Economic Policy Directorate), said the reserves level was the highest the country has recorded since 2018. He added that this amount could now cover more...

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