New tax law could ignite job loss, destroy small businesses — Group warns
A civil society group has warned that the newly introduced tax law could lead to job losses and the collapse of many small and medium-sized businesses across the country. The group said the policy, if not reviewed, may place heavy financial pressure on entrepreneurs who are already struggling with rising costs and low consumer spending. […]
Naira records N100 appreciation against dollar, foreign reserves rise to $45.5bn in 2025
The Nigerian Naira has strengthened against the US dollar, recording a notable N100 appreciation in 2025. The Central Bank of Nigeria (CBN) data revealed that this gain reflects growing confidence in the currency amid global and local market dynamics. Experts attributed the Naira’s improvement to robust foreign exchange management and rising investor interest. Analysts also […]
Tax law: Insisting on Jan 1 implementation insult to Nigerians, rule of law – Adeyanju to Tinubu
Human rights activist, Deji Adeyanju, has criticised the Federal Government for insisting on implementing the new tax law from January 1. He described the decision as disrespectful to Nigerians and a violation of the rule of law, especially as the law is still being debated and challenged in some quarters. Adeyanju said that forcing the […]
Tax law rollout: Nigerians should exercise caution – Budget Office
The Budget Office of the Federation has advised Nigerians to be careful as the new tax laws begin to take effect across the country. The office said while the reforms are meant to improve revenue and strengthen the economy, people and businesses should take time to understand how the changes affect them before making financial […]
Naira records depreciation against US dollar ahead of new year
The naira has recorded a slight depreciation against the United States dollar at the official foreign exchange market ahead of the new year. Data from the Central Bank of Nigeria showed that the naira weakened to ₦1,445.68 per dollar, compared to ₦1,442.51 recorded the previous day. This means the local currency lost about ₦3.17 against […]
Sell Port Harcourt, three other NNPCL refineries in 2026 – PETROAN to Nigerian Govt
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has advised the Federal Government to sell the Port Harcourt refinery along with three other refineries operated by the Nigerian National Petroleum Company Limited (NNPCL) in 2026. The group believes that private sector control will improve efficiency and reduce the burden on government resources. PETROAN […]
New tax laws: Nigerians don’t trust Tinubu’s govt on expenditure – Financial Analyst, Aja
Financial analyst Aja has expressed concern over Nigerians’ lack of trust in the federal government regarding the implementation of new tax laws. According to him, citizens are worried that revenue collected may not be spent transparently or efficiently. Aja highlighted that past experiences with government spending have made many Nigerians cautious about accepting new tax […]
Fuel price cut: Why Nigerian govt policy should favour Dangote Refinery, domestic refineries – CPPE
The Centre for the Promotion of Private Enterprise (CPPE) has advised the Federal Government to design fuel pricing and import policies that support Nigeria’s local refineries, especially the Dangote Refinery. According to the group, doing so will help reduce the cost of fuel, improve energy security, and strengthen the local economy. CPPE said that allowing […]
Naira Records Second Straight Appreciation Against US Dollar
Nigeria’s currency, the naira, has recorded a second consecutive day of improvement against the United States dollar in the official foreign exchange market. This positive movement suggests a slight return of confidence and improved liquidity in the forex space. Market watchers say the appreciation is linked to increased dollar supply and recent monetary policies aimed […]
Ahmed formally hands over to Mohammed as CEO of NMDPRA
Former Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, has formally handed over leadership of the agency to his successor, Engr. Ahmed Mohammed. The handover ceremony marked the official transition of leadership at the petroleum regulatory body responsible for overseeing Nigeria’s midstream and downstream energy sectors. During the event, […]