As Nigeria ushers in 2026, the nation operates under a landmark fiscal framework, the 2025 Tax Reform Laws. Designed to modernize the tax system, broaden compliance, and strengthen national revenue, these reforms have generated both optimism and anxiety. A wave of misinformation circulating online has raised fears that the new system could allow authorities to …
There are concerns that the crisis in Venezuela presents a significant risk for Nigeria’s 2026 budget and the broader economy. While Venezuela and Nigeria are geographically distant, they are direct competitors in the global oil market. After months of tactical preparations, the United States invaded Venezuela during the weekend. The U.S. military force launched strikes …
Reactions have trailed President Bola Tinubu’s approval for the major write-off of debts owed by the Nigerian National Petroleum Company (NNPC) Limited to the Federation Account, clearing over 90% of legacy obligations up to the end of 2024. A report by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) presented during the November 2025 Federation Account …
The newly appointed Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has formally assumed office, promising to implement robust reforms to boost activities in the upstream oil and gas sector in the country. Eyesan, who assumed office on Tuesday, December 23, pledged to work in line with the mandate of …
Nigeria lost N16.2 trillion in oil revenue in the first half of 2025, reflecting a shortfall from the government's revenue targets for that period. According to a report released by the Budget Office on budget performance, N9.32 trillion was generated out of the 25.52 trillion projected for January to June 2025. This means only 36.52 …
The Federal Government expects to generate about ₦150 billion annually from its proposed End-of-Life Vehicle (ELV) policy once it becomes operational. Director-General of the National Automotive Design and Development Council (NADDC), Mr. Joseph Osanipin, disclosed this during a media parley in Abuja. He said the projected revenue would come from vehicle parts recycling and the …
The Federal Competition and Consumer Protection Commission (FCCPC) has warned road transport operators in Nigeria against an arbitrary hike in fares during the Christmas season. The agency said its warning followed several complaints by travellers across the country. In a statement released on Sunday, December 21, signed by Ondaje Ijagwu, Director, Corporate Affairs, FCCPC, it …
Nigerians have called on the Nigerian National Petroleum Company (NNPC) Limited to drop its pump prices of petrol below what is sold by Dangote Refinery distribution partners. This public demand further highlights a fascinating shift in Nigeria’s downstream oil market, now characterized by rising competition between the state-owned oil firm and private marketers. The public …
The Debt Management Office (DMO) has urged state governments to follow the Fiscal Responsibility Act and other borrowing laws. It warned that loans taken outside the legal framework could weaken fiscal stability at the sub-national level. The Director-General of the DMO, Ms. Patience Oniha, delivered the message on Tuesday in Abuja. She spoke at a …
Nigeria’s headline inflation rate fell to 14.45 per cent in November 2025, down from 16.05 per cent in October, marking the lowest level in five years, the National Bureau of Statistics (NBS) reported on Monday. The November Consumer Price Index (CPI) data indicates a 1.6-percentage-point decline month-on-month, continuing a sustained downward trend that began in …
