By Jemimah Wellington, JKNewsMedia Correspondent SEVERAL ESSENTIAL goods and services will no longer attract the 7.5 percent value-added tax (VAT) from January 2026, following the enactment of the Nigeria Tax Act (NTA). The law, signed by President Bola Tinubu on 26 June, is part of a broader tax reform package that also established a new [&h...
By Jemimah Wellington, JKNewsMedia Correspondent HEADLINE INFLATION dropped for a third consecutive month in June, falling to 22.22 percent from 22.97 percent in May, according to figures released by the National Bureau of Statistics (NBS). The latest data, released through the agency’s Consumer Price Index (CPI) report, reflects adjustments m...
By Ajibola Olaide, JKNewsMedia Reporter THE FEDERAL Government has said it will raise N1.76 trillion by issuing Treasury Bills in the third quarter of 2025, according to a new borrowing schedule released by the Central Bank of Nigeria (CBN). The amount reflects a 12.8 percent increase from the N1.56 trillion raised through similar instruments...
By Jemimah Wellington, JKNewsMedia Correspondent MONTHLY FINANCIAL transactions exceeding ₦5 million in Nigerian bank accounts will be reported to the nation’s tax authorities beginning in 2026, following the implementation of the new Tax Reform Act. The National Orientation Agency (NOA) announced that this directive, outlined in Section 30 o...
By Jemimah Wellington, JKNewsMedia Reporter THE FEDERATION Account Allocation Committee (FAAC) has distributed a total of N1.659 trillion to Nigeria’s three tiers of government as allocation for May 2025, drawn from a gross revenue inflow of N2.942 trillion. From the total distributable amount, the Federal Government received N538.004 billion...
By Jemimah Wellington, JKNewsMedia Reporter BUYING INTEREST in medium and large-cap stocks lifted Nigeria’s equities market on Wednesday, closing the session with a strong 0.56 per cent gain and boosting investor wealth by N405 billion, according to data from the Nigerian Exchange (NGX). Also, market capitalisation climbed from N71.897 trilli...
By Jemimah Wellington, JKNewsMedia Reporter The Presidential Compressed Natural Gas Initiative (PCNGI) has disclosed that the Compressed Natural Gas (CNG) adoption in Nigeria is gaining momentum one year after its rollout, despite criticism from some sections of the media over infrastructure gaps in the young sector. A statement signed by Eng...
By JKNewsMedia CLAIMS BY a factional Afenifere group alleging national regression under President Bola Tinubu have drawn a sharp rebuttal from the Presidency, which defended its record with a comprehensive outline of reforms, economic stabilisation, and anti-corruption progress since 2023. The group’s critique, accusing the Tinubu administrat...
By Ajibola Olaide, JKNewsMedia Reporter FRESH MOMENTUM is building behind Nigeria’s strategy to shift from raw cocoa production to large-scale processing, as the government pledges deeper engagement with global partners. Vice President Kashim Shettima reaffirmed this commitment during talks with World Cocoa Foundation (WCF) President Chris Vi...
By Jemimah Wellington, JKNewsMedia Reporter TRANSOFRMATIVE POLICY reforms are set to overhaul Nigeria’s oil and gas sector through a newly signed Executive Order by President Bola Ahmed Tinubu. Designed to reduce project costs, boost investor confidence, and increase government revenue, the Upstream Petroleum Operations Cost Efficiency Incent...
