Tinubu explains ₦200bn intervention fund for MSMEs, manufacturers
| Says economic stability due to Nigerians’ sacrifices, promises better days ahead President Bola Ahmed Tinubu has explained that the ₦200 billion intervention fund recently established by his administration for…
‘No hiding place’ – Tax boss declares all income taxable – From bankers to sex workers and agberos
In a sweeping declaration that spares no profession, Nigeria's top tax official has asserted that every single income-earning citizen—from formal professionals to those in the shadow economy—must declare their earnings…
Think Tank projects inflation to drop to 17% by December, urges CBN to cut interest rates
The Independent Media and Policy Initiative (IMPI) has projected that Nigeria’s headline inflation will fall to 17 per cent by the end of 2025, following months of steady declines that…
FG suspends FOB levy on imported goods amid stakeholder concerns
The federal government has announced the immediate suspension of the newly introduced free on board (FOB) levy collected by the Nigeria Customs Service (NCS) on imported goods. The decision, communicated…
JTB dismisses reports linking bank access to tax IDs
The Joint Tax Board (JTB) has debunked reports suggesting that Nigerians without a Tax Identification Number (Tax ID) would be denied access to their bank accounts or barred from financial…
FG clarifies: No immediate plan to implement 5% petrol surcharge
The Federal Government has assured Nigerians that it has no immediate plans to introduce the five per cent fuel surcharge provided for in the newly signed Tax Administration Act 2025.…
Customs approves $300 duty-free threshold for low-value imports and passenger baggage
The Nigeria Customs Service Board (NCSB) has approved a de minimis threshold of $300 for low-value consignments imported through express shipments or passenger baggage. De minimis refers to the minimum…
New law makes tax ID mandatory for bank accounts, business deals from 2026
From January 1, 2026, Nigerians and non-residents will be unable to open or operate bank accounts without a valid Tax Identification Number (Tax ID). The new requirement is contained in…
Nigeria records ₦20.59tn non-oil revenues, strongest fiscal performance in years
Nigeria has recorded its strongest fiscal performance in recent history, driven by unprecedented growth in non-oil revenues, according to figures released for the period January to August 2025. Data show…
Tinubu says Nigeria met 2025 revenue target in August, credits non-oil sector
President Bola Tinubu on Tuesday announced that Nigeria achieved its 2025 revenue target in August, attributing the milestone to economic reforms that have strengthened the non-oil sector. Speaking at the…