Why Petrol Could Hit N1,000/Litre — Dangote Refinery Explains
Dangote Petroleum Refinery has warned that Nigeria’s continued reliance on coastal delivery of petroleum products could drive petrol prices close to N1,000 per litre, urging marketers to embrace gantry loading as a more efficient and cost-saving alternative. In a statement on Thursday, the refinery said gantry evacuation remains the most reliable method for maintaining price […]
NEW TAX LAWS: Know Your Tax Offence And Penalties (Tax Defaulters)
NEW TAX LAWS: Know Your Tax Offence And Penalties (Tax Defaulters) The tax environment in different countries including Nigeria is so dynamic, subject to frequent legislative and regulatory amendments. As such, it requires timely compliance both in terms of filing and remittance to the relevant tax authorities. Compliance such as deduction, filing and remittance for […]
Every Individual Must File Tax Returns By March 31 – Oyedele
Every Individual Must File Tax Returns By March 31 – Oyedele Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has urged Nigerians to file their annual tax returns. He stressed that both employers and individuals must comply under the law. He made this known during a webinar organised for HR […]
Petrol May Hit ₦1,000/Litre as Crude Oil Surges Above $70, Marketers Warn
The pump price of Premium Motor Spirit (petrol) could rise to as high as ₦1,000 per litre in the coming days following a sharp increase in global crude oil prices, fuel marketers have warned. Industry players told The PUNCH that the sudden surge in international crude prices—now trading above $70 per barrel—could trigger another round […]
Nigerians Spent Just N1.4Trillion On Food, Beverages And Vegetable Imports In Three Months — NBS
Nigeria reportedly spent a total of N1.4 trillion on importing prepared foodstuffs, beverages, and vegetable products between July and September 2025, according to data from the National Bureau of Statistics (NBS). The figures highlight the country’s heavy reliance on foreign food supplies despite government efforts to boost local production. The breakdown shows that prepared foodstuffs, […]
No Confusion! FG Explains Easy Steps for Paying Taxes in 2026
The Federal Government of Nigeria has reassured citizens that the new tax laws, taking effect on January 1, 2026, will not involve automatic deductions from personal bank accounts. Self-Declaration, Not Surveillance Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, clarified during an interview on Channels Television’s year-end programme, 2025 In […]
98% of Nigerian Workers Will Keep Paying More If New Tax Laws Are Delayed – Oyedele
As Nigeria inches toward January 1, 2026 — the scheduled commencement date for the most ambitious overhaul of its tax system in decades — a fierce national debate has erupted, pitting reform advocates against political heavyweights, labour-aligned critics, and civil society groups calling for a pause. At the centre of this unfolding controversy is a […]
NIN, CAC numbers to serve as tax IDs from 2026 — FIRS
The Federal Inland Revenue Service has announced that the National Identification Number issued by the National Identity Management Commission has automatically become the Tax Identification Number for individual Nigerians. The clarification was made in a public awareness campaign on the new tax laws shared by the Service on X on Monday. According to the FIRS, […]
FG Bans Cash Transactions in MDAs, Mandates POS Deployment Nationwide
The Federal Government has announced a ban on cash payments across all Ministries, Departments and Agencies (MDAs), directing them to fully adopt electronic revenue collection systems. Under the new directive, MDAs have been given a 45-day deadline to install and deploy Point-of-Sale (POS) terminals and other approved digital payment platforms to facilitate collections. The policy, […]
BREAKING: CBN Issues Fresh Directive to Banks — New Withdrawal Limits and Charges to Kick Off January 1st
In a sweeping financial policy shift, the Central Bank of Nigeria (CBN) has announced a new nationwide cash withdrawal framework that will take effect from January 1, 2026, significantly reducing how much Nigerians can access in physical cash weekly. In a circular issued on Tuesday, December 2, 2025, and signed by the Director of […]