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As Tinubu signs tax reform bills, VAT remains 7.5%, CIT 30%
As Tinubu signs tax reform bills, VAT remains 7.5%, CIT 30%
President Bola Ahmed Tinubu on Thursday signed the four tax reform bills recently passed by the National Assembly, retaining Value Added Tax (VAT) at 7.5% and the Corporate Income Tax (CIT) at 30% without any increment.
The bills are the Nigeria Tax Bill (Ease of Doing Business), which aims to consolidate Nigeria’s fragmented tax laws into a harmonised statute; and Nigeria Tax Administration Bill, which will establish a uniform legal and operational framework for tax administration across federal, state, and local governments.
Others are the Nigeria Revenue Service (Establishment) Bill, which repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven national revenue agency— the Nigeria Revenue Service (NRS); and the Joint Revenue Board (Establishment) Bill, which provides for a formal governance structure to facilitate cooperation between revenue authorities at all levels of government.
There were concerns over the potential of the Bills in further increasing taxpayers’ burden even as the planned increase in value added tax from the present 7.5 per cent also generated concerns.
At the signing ceremony at the State House, President Tinubu said that the occasion presented a new lease of life to every Nigerian and future generation and described the laws as pivotal to the success of the administration’s reforms and the country’s prosperity.
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“What we did a few minutes ago is the way forward for our country’s prosperity. Leadership must help people take off, lead the way, and navigate every turn and twist. We must help them reach their destination. That is what we are doing.
“We are in transit; we have changed the roads, we have changed some of the misgivings, we have opened the doors to a new economy, business opportunities. We have shown the world that Nigeria is ready and open for business,” the president stated.
President Tinubu commended the leaders and members of the National Assembly for passing the bills despite initial misunderstandings.
“It was initially difficult, but not all roads will be easy in nation-building. What you have provided is leadership and courage in the face of mounting disputes. Nowhere in the world would tax reforms be easy,” the president said.
Implementation begins in January – Adedeji
Addressing State House correspondents shortly after the president signed the bills, Chairman of the Nigeria Revenue Service, Zach Adedeji, disclosed that the implementation of the newly signed four tax fiscal reform laws will commence by January 1st, 2026.
According to him, the modalities will be put in place ahead of the implementation.
Adedeji explained that the six-month period between the enactment of the new fiscal laws is designed to give ample time to those saddled with the implementation to carefully prepare and ensure that all Nigerians are adequately sensitised.
According to Adedeji, the Federal Inland Revenue Service, FIRS by the signing of the bills into Law is now the Nigeria Revenue Service, explaining that the new law now defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.
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“The Nigeria Revenue Service (Establishment) Bill, the third bill, repeals the current Federal Inland Revenue Service Act and creates a more autonomous and performance-driven National Revenue Agency.
“Two hours ago, before we were FIRS, now we are Nigeria Revenue Service with expanded scope to focus on tax collection and with match efficiency.”
The Chairman, Presidential Committee on Tax Reforms, Taiwo Oyedele, said President Tinubu had directed proper implementation of the laws while ensuring collective participation of all stakeholders.
“We are prepared. It is not something we can do alone, even from the government side. It’s something we have to be collective about.”
Oyedele added that the committee will now include the private sector, public sector, civil society, professional bodies as well as international partners.
“The private sector, public sector, civil society, professional bodies, etc? Tax consultants, everyone, including our international partners, who mean well will work for Nigeria.”
During an interview on Channels Television on Thursday, Oyedele said households earning N250,000 or less per month will be exempted from paying tax under the new fiscal laws.
Oyedele explained that the new laws are aimed at driving economic growth and easing the financial burden on low-income earners.
He also said that the reforms are structured to protect struggling families, encourage productivity, and reduce the stress on middle-income earners, while making the wealthy contribute a bit more.
He said the intention is not to increase taxes but to make the system more efficient, fair, and targeted.
“This tax law will not give you cash in your pocket, but at least it won’t take your cash away if you are poor,” he said.
He added that no Nigerian who earns below N250,000 monthly would be required to pay taxes because “they don’t even have enough” to meet basic needs.
As Tinubu signs tax reform bills, VAT remains 7.5%, CIT 30%
Daily Trust
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One Killed, Five Injured as Violence Disrupts Obi-Kwankwaso Rally in Delta
One Killed, Five Injured as Violence Disrupts Obi-Kwankwaso Rally in Delta
One person has been killed and five others injured following a violent clash that disrupted a political procession organised by supporters of the Nigeria Democratic Congress (NDC) presidential candidate, Peter Obi, and his running mate, Rabiu Kwankwaso, in Asaba, Delta State.
The incident occurred at about 12:15 p.m. on Saturday, November 7, 2026, along Nnebisi Road, during a one-million-man march organised by supporters of the Obi-Kwankwaso Movement.
The Delta State Police Command confirmed the casualties, disclosing that the identities of the deceased and injured persons had yet to be established as investigations commenced.
In a statement issued by the Police Public Relations Officer, SP Bright Edafe, the command said it had received intelligence indicating the possibility of violence ahead of the procession.
According to the police, organisers of the rally were invited to a security meeting, where they were briefed about the identified threats and advised against holding an open-road procession.
The command said the organisers were encouraged to conduct their political activities at a designated venue where adequate security arrangements could be provided.
However, the police alleged that the organisers ignored the advice and proceeded with the procession.
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Following a distress call, police operatives were deployed to the scene and evacuated the injured victims to hospital for medical attention.
Security was subsequently reinforced in the affected area to prevent further breakdown of law and order.
The police said investigations were ongoing to establish the circumstances surrounding the violence and identify those responsible.
Commissioner of Police, Samuel Erale, condemned the incident and reiterated that political parties were free to conduct lawful campaigns and other political activities across the state.
He, however, urged political parties and their supporters to avoid road processions in the interest of public safety and liaise with the police ahead of political gatherings to facilitate adequate security arrangements.
The command also appealed to members of the public with useful information about the incident to contact the police through 09155570008 or 09155570007.
Meanwhile, the NDC has accused the ruling All Progressives Congress (APC) of being behind the attack, alleging that the incident was an attempt to intimidate opposition supporters and disrupt its political activities.
Former Speaker of the Delta State House of Assembly and NDC senatorial candidate for Delta North, Victor Ochei, called on Governor Sheriff Oborevwori to order an immediate investigation and ensure that those responsible were arrested and prosecuted.
Ochei alleged that more than 30 campaign buses were destroyed during the attack, accusing suspected attackers of being mobilised by individuals allegedly connected to the ruling party.
However, Delta APC spokesperson, Valentine Onojeghghuo, dismissed the allegation, insisting that the NDC had provided no evidence linking APC members to the incident.
He described the accusation as baseless and urged the opposition party to embrace peaceful political engagement.
The Delta State Coordinator of the Obi-Kwankwaso Movement, Favour Emerue, also alleged that the gathering was peaceful before suspected hoodlums disrupted the procession, leaving some participants injured.
In a separate reaction, Peter Obi condemned the reported attacks on his supporters and NDC members in Delta State, calling on the state government and security agencies to investigate the incidents and bring those responsible to justice.
The latest violence has renewed concerns about the safety of political activities ahead of the 2027 general elections.
The police have assured residents that a thorough and impartial investigation will be conducted to establish the circumstances surrounding the clash and ensure that anyone found culpable faces the law.
One Killed, Five Injured as Violence Disrupts Obi-Kwankwaso Rally in Delta
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Power Outage: Tegbe Gives Nigerians 72-Hour Timeline as FG Moves to Restore Electricity
Power Outage: Tegbe Gives Nigerians 72-Hour Timeline as FG Moves to Restore Electricity
ABUJA – Minister of Power, Joseph Tegbe, has assured Nigerians that electricity supply will begin to improve within the next 48 to 72 hours as the Federal Government intensifies efforts to address the challenges responsible for the recent power outages across parts of the country.
Tegbe gave the assurance in an update on the country’s power situation amid growing complaints from electricity consumers over prolonged blackouts, particularly in Lagos and the Federal Capital Territory.
The minister attributed the worsening electricity supply to a combination of planned maintenance at Egbin Power Station, inadequate gas supply to some thermal power plants and sabotage of critical transmission lines.
According to him, the challenges have reduced the volume of electricity available on the national grid, forcing grid operators to implement load shedding in some areas to manage the shortfall.
He explained that maintenance activities at Egbin Power Station, one of Nigeria’s major electricity-generating facilities, had contributed significantly to the reduction in power generation.
The minister also identified gas supply constraints affecting some thermal power stations as another factor responsible for the decline in electricity generation.
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Tegbe further alleged that sabotage of key transmission lines had restricted the use of alternative routes for supplying electricity to some locations, particularly Lagos.
He said the Federal Government was working with relevant operators to address the challenges and restore the affected generating units in phases.
“My team and I are working to return the affected generating units to service in phases, with the first units coming back online within the next 48 to 72 hours.
“We are also working with operators to improve gas supply and accelerate repairs to the damaged infrastructure,” he said.
The minister acknowledged the hardship caused by the outages, noting that the disruptions had placed considerable pressure on households and businesses in the affected states.
He apologised to electricity consumers experiencing the interruptions and thanked them for their patience, promising to provide further updates as efforts to restore supply progress.
The latest assurance follows growing public complaints over worsening electricity supply, with residents and businesses in several locations struggling to cope with prolonged outages.
The power crisis has also triggered disagreements between the Transmission Company of Nigeria (TCN) and Ikeja Electric over the causes of recent supply interruptions.
While Ikeja Electric had cited grid instability in explaining its inability to meet electricity supply obligations to some Band A customers, TCN disputed the explanation, attributing the decline largely to inadequate gas supply and reduced electricity generation.
Tegbe had earlier directed TCN, the Nigerian Independent System Operator (NISO) and electricity distribution companies (DisCos) to address operational challenges contributing to the decline in power supply.
Nigerians will now be watching closely to see whether the promised improvement materialises within the 48-to-72-hour timeframe.
Power Outage: Tegbe Gives Nigerians 72-Hour Timeline as FG Moves to Restore Electricity
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NDLEA Arraigns Two Mexicans, Four Nigerians Over Secret Meth Lab in Oyo Forest
NDLEA Arraigns Two Mexicans, Four Nigerians Over Secret Meth Lab in Oyo Forest
The National Drug Law Enforcement Agency (NDLEA) has arraigned two Mexican nationals and four Nigerians before the Federal High Court in Ibadan, Oyo State, over their alleged involvement in the establishment and operation of a clandestine methamphetamine laboratory in the state.
The six defendants were arraigned before Justice Nkeonye Evelyn Maha on a four-count charge bordering on conspiracy, the establishment of an illegal drug laboratory and the unlawful transportation and distribution of chemicals intended for the production of methamphetamine, a highly addictive psychotropic substance.
The defendants were identified as 56-year-old Mexican national Jose Villa Ochoa; another Mexican, 40-year-old Carrera Loaiza Arturo; and four Nigerians, Maxwell Uche Nevoh, 30; Olatunji Yusuf, 37; Bankole Akeem Owolabi, 45; and Ganiu Monsiu, 43.
According to the NDLEA, Ochoa and the four Nigerian defendants were arrested on June 17, 2026, in a forested area of Tapa village, Ibarapa North Local Government Area of Oyo State, where operatives uncovered the clandestine laboratory.
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The second Mexican suspect, Arturo, was subsequently tracked down and arrested on August 19, 2026, while allegedly attempting to flee Nigeria through the Lagos airport.
The agency disclosed that the defendants were accused of conspiring to operate a drug trafficking organisation and establishing a secret laboratory for the production of methamphetamine between December 2025 and June 2026 at different locations in Lagos and Oyo states.
They were also accused of unlawfully transporting and distributing chemical substances for the manufacture of the prohibited drug, contrary to Section 20(1)(f) and punishable under Section 20(2)(a) of the NDLEA Act.
When the charges were read to them in a language they understood, all six defendants pleaded not guilty.
Following their pleas, Justice Maha ordered that they be remanded at the Correctional Centre in Ibadan pending the commencement of their trial.
The court subsequently fixed January 26, 27, 28 and 29, 2027, for the trial.
In a related development, the NDLEA disclosed that three other Mexican nationals and seven Nigerian collaborators arrested over the alleged operation of a similar clandestine methamphetamine laboratory in a forest hideout in Ogun State on May 16, 2026, had also been arraigned before a Federal High Court in Lagos.
The court reportedly rejected their bail application and ordered an accelerated hearing of the case.
The latest development underscores the NDLEA‘s ongoing efforts to dismantle suspected international drug trafficking networks and prevent Nigeria from becoming a hub for the illicit manufacture of dangerous narcotic substances.
The agency’s Director of Media and Advocacy, Femi Babafemi, announced the arraignment in a statement issued on Friday, November 6, 2026.
NDLEA Arraigns Two Mexicans, Four Nigerians Over Secret Meth Lab in Oyo Forest
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