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 makes over ₦600bn VAT from Facebook, Amazon, Netflix
The Federal Government has generated more than ₦600 billion in Value Added Tax (VAT) from international digital service providers such as Facebook, Amazon, and Netflix. This was disclosed by Mathew…
NNPC Retail reports ₦395.5bn loss 2024
NNPC Retail Limited has announced a staggering loss of N395.5 billion for the fiscal year 2024, as detailed in its “annual report, consolidated and separate financial statements for the year…
NUPENG suspends nationwide strike after DSS-brokered meeting with Dangote Group
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has suspended its nationwide strike following a resolution meeting with the Dangote Group in Abuja. The union had on Monday…
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…
Fuel scarcity looms as PETROAN, NUPENG move to shut down operations over Dangote monopoly fears
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has issued a three-day forewarning of suspension of lifting and dispensing petroleum products, starting from the early hours of Tuesday.…
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…