The Federal Government has declared that a 7.5% Value Added Tax (VAT) will be levied on certain electronic banking services, including mobile transfers and USSD transactions, beginning January 19, 2026. This move follows a directive from tax authorities, requiring financial…
Dr. Zacch Adedeji, the Executive Chairman of the Nigeria Revenue Service, has urged lower-income earners to pay attention to their January salaries to observe the effects of the new tax regulations in comparison to previous laws. During an appearance on…
Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has revealed that he has been receiving death threats following the rollout of Nigeria’s new tax reform laws. Speaking at a governance colloquium in Abuja on…
In a significant shift in fiscal policy, the 36 states of Nigeria are poised to receive an unprecedented estimated N5.07 trillion in 2026, as part of a new Value Added Tax (VAT) sharing formula introduced under the National Tax Acts.…
In a significant policy shift, the Nigeria Revenue Service (NRS) has announced that low-income earners will be the primary beneficiaries of new tax laws introduced by President Bola Ahmed Tinubu. During a recent interview on Arise Television, NRS Executive Chairman…
The Federal Inland Revenue Service (FIRS) has announced that the National Identification Number (NIN) issued by the National Identity Management Commission will now automatically serve as the Tax Identification Number (TIN) for individual Nigerians.The clarification was made in a public…
The Presidency has dismissed allegations of having clandestinely amended certain sections of the recently passed tax reform laws, saying that the process was conducted within the legally prescribed framework of the constitutional process. President Bola Tinubu recently signed four bills…
President Bola Tinubu on Friday presented the ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly. He pledged that 2026 will usher in a decisive move toward tighter budget discipline and a governance framework firmly focused…
In a significant turn of events, Farouk Ahmed, the chief executive officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has resigned following a high-level meeting with President Bola Tinubu at the Presidential Villa in Abuja. The…
Members of the Nigeria Labour Congress on Wednesday converged at the NLC Secretariat, Labour House in Abuja, for the commencement of their national protest due to the level of insecurity and poor economic conditions in the country. The protest was…
The Dangote Petroleum Refinery has once again lowered its petrol gantry price, reducing the ex-depot rate from N828 to N699 per litre. According to real-time data on Petroleumprice.ng on Friday, the refinery carried out a significant price review, cutting the…
President Bola Tinubu has approved the appointment of Dr John Nwabueze as Nigeria’s Tax Ombudsman. The appointment aligns with the Joint Revenue Board of Nigeria (Establishment) Act, 2025, and supports ongoing reforms in the nation’s tax and revenue system. Presidential…
President Bola Tinubu has sought the approval of Senate for a fresh N1.15 trillion loan from the domestic debt market to finance deficit in the 2025 budget. Tinubu’s request was contained in a letter addressed to President of Senate Godswill…
The Nigerian Labour Congress (NLC) has called for an increase in the Retirement Savings Account (RSA) withdrawal limit, proposing to raise the threshold from 25 per cent to 50 per cent. NLC President, Comrade Joe Ajaero, made the demand during…
Security operatives have taken control of Nestoil Limited’s corporate headquarters in Victoria Island, Lagos, following a receivership action initiated by a group of lenders over an alleged $1 billion debt. This move comes after the Federal High Court in Lagos,…