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ACF Canvasses Retention of 7.5% VAT, Proposes Key Tax Amendments

The Arewa Consultative Forum (ACF) has recommended the retention of the 7.5% Value Added Tax (VAT) rate in the proposed Tax Reform Bills. In a detailed submission to the National Assembly, the ACF outlined its observations and recommendations on the Executive Tax Reform Bills, which aim to overhaul Nigeria’s tax laws significantly. The recommendations stem […]

Senate Holds Public Debate on Nigeria’s Tax System Overhaul

The Senate has commenced a two-day public hearing on proposed tax reform bills, bringing together key stakeholders from the nation’s economic and financial sectors. Among those in attendance are the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji; the Group Chief […]

Dangote Refinery Holds N600bn Fuel Stockpile, Vows Market Stability

The President of Dangote Industries Limited (DIL), Aliko Dangote, has disclosed that his company’s petroleum refinery has over N600 billion worth of petrol in storage, sufficient to meet Nigeria’s domestic demand. Dangote’s statement counters that of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which recently claimed that only 50 per cent of the […]

NAFDAC to Critics: Our Crackdown Protects Lives, Not Business

The National Agency for Food and Drug Administration and Control (NAFDAC) has justified its recent crackdown on counterfeit drugs across Nigeria, dismissing allegations that its actions are anti-business. NAFDAC has conducted multiple raids on markets and shops selling fake medications, sparking criticism from some quarters. However, the agency’s Director-General, Mojisola Adeyeye, has maintained that the […]

Osun LG Poll: Makinde Cautions APC Against Anti-Democratic Actions

Oyo State Governor, Seyi Makinde, has cautioned the All Progressives Congress (APC) against undermining democracy by resorting to self-help in the administration of local government areas in Osun State. Makinde issued this warning on Sunday during the swearing-in ceremony of 30 newly elected local government chairmen in Osun State. He urged the APC not to […]

Babangida Finally Admits: MKO Abiola Won the June 12 Election

Thirty-two years after annulling the historic June 12, 1993, presidential election, Nigeria’s former Head of State, General Ibrahim Babangida, has publicly acknowledged for the first time that the late philanthropist and political figure, Moshood Kashimawo Olawale (MKO) Abiola, won the election. This revelation is contained in Babangida’s newly released autobiography, A Journey in Service: An […]

US Envoy Dismisses Claims of USAID Funding Boko Haram as Baseless

The National Security Adviser (NSA) has alleged that Binance repeatedly ignored demands to provide business records spanning six years, despite a court order compelling it to do so through the Economic and Financial Crimes Commission (EFCC). According to an affidavit, following Binance’s alleged infractions, the Central Bank of Nigeria’s (CBN) Research Department conducted an analysis […]

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