The Chairman of the Federal Inland Revenue Service (FIRS), Mr. Zacch Adedeji has said that new tax laws would take effect from 1 January 2026, under a renamed agency — the Nigeria Revenue Service. In the same breath, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele said that under the new tax laws, …

The Federal Government is extending the life span of its 2024 budget by another six months, a development which has consolidated on its culture of running multiple budgets in a single fiscal year. The development also indicates that the efforts of the House of Representatives since 2024 to curb this practice may have failed. Yesterday, the Senate began the legislative …

The Senate on Thursday disclosed that about 85 per cent of the N1.48 trillion 2025 budget submitted by the Sole Administrator of Rivers State, Vice Admiral Ibok-Ete Ibas (retd.), was originally drafted by suspended Governor Siminalayi Fubara. Chairman of the Senate Ad-Hoc Committee on Emergency Governance in Rivers State, Senator Opeyemi Bamidele, revealed this during a budget defence session with …

The Federation Account alAllocation Committee (FAAC) said it shared N1.65 trillion among the three tiers of government as allocation for May 2025. This represents a decrease of N30 billion, compared to the N1.68 trillion shared in April. According to a statement on Wednesday from the Ministry of Finance Incorporated, the figure was confirmed in a communique issued at the end …

For the second consecutive month, Nigeria’s inflation rate has dropped. According to the Consumer Price Index (CPI) report, released on Tuesday by the National Bureau of Statistics (NBS), headline inflation eased to 22.97% in May, this year, from 23.71% in April. It was 24.23% in February. Experts agreed that the stability in the foreign exchange rates, reduction in energy costs …

The Nigeria Customs Service (NCS), Apapa Area Command, has engaged in strategic alliance with the Nigerian Railway Corporation (NRC) aimed at enhancing cargo evacuation from the seaport. The event, which was held at the Command on Wednesday, 11 June 2025, brought together representatives of the Nigeria Railway Corporation (NRC), clearing agents, and freight forwarders, among others. Addressing stakeholders’ present at …

Governor Chukwuma Soludo of Anambra State has declared that President Bola Tinubu’s administration salvaged Nigeria’s public finances from the brink of collapse. In an address delivered on 12 June at The Platform Nigeria, hosted by Pastor Poju Oyemade and The Covenant Nation, Governor Soludo praised President Tinubu’s economic reforms. He called for a nationwide ethical and ideological rebirth to drive …

The World Bank has issued a stark warning, indicating that global growth could fall even lower than anticipated. Also read: World Bank partnership: A step forward for Kaduna’s development – AYCF This grim outlook is primarily driven by escalating trade barriers, with the report emphasising that the average effective tariff imposed by the United States is at its highest level in …

Financial Secretary Paul Chan Mo-po anticipates sustained robust performance for Hong Kong stocks this year, emphasizing the government’s commitment to financial security and its non-interventionist market approach

The Yoruba Union, Ìgbìnmó Májékóbájé Ilé-Yorùbá, demands President Tinubu resignation, citing deepening economic hardship, rising insecurity, and suppression of fundamental rights under his administration