Tag: Federal Government

₦5trillion VAT windfall for states, as new formula begins

Aminu Imam
VAT windfall for states

The 36 states of the federation are set to receive an estimated ₦5.07trillion as their share of Value-Added Tax (VAT) in 2026, following the commencement of a new VAT sharing formula introduced under the National Tax Acts, findings have shown. This development is contained in the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) approved by the Federal Executive Council. According to the fiscal framework, the implementation of the new National Tax Acts from January 2026 will reduce the Federal Government’s VAT share from 15% to 10%, while the…

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“Tinubu’s reforms yielding results already” – FG assures Nigerians

Aminu Imam
FG assures Nigerians

Minister of Information and National Orientation, Mohammed Idris, has declared that the 2026 Budget is designed to consolidate the gains of President Bola Tinubu’s reform agenda, which he said is already producing positive results. In an op-ed published yesterday, titled: “A Defining Moment for Nigeria: Why Staying the Course Matters”, Idris described the 2026 appropriation plan as a “budget of consolidation, renewed resilience and shared prosperity”. His words: “Our ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity’ is critical. It is a commitment to double down on what is working,…

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FG eyes $7.5bn global ginger market

Aminu Imam
FG ginger market

Nigeria’s ginger export industry is positioning itself for a strong rebound in 2026, buoyed by renewed international technical support, fresh investment, and stepped-up security measures in key farming belts. The global ginger market is projected to expand from $4.41 billion to $7.50 billion by 2033, recording a compound annual growth rate of 6.08% between this year and 2033, according to the ‘Ginger Market: Players Analysis, Recent Developments, Strategies, Sustainability, Product Launches, Key Persons, and Revenue Forecasts’ report, published by ResearchAndMarkets.com.  The report attributed the growth to rising demand for ginger…

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FG writes-off $1.42bn, N5.57tr NNPCL debt

Aminu Imam
FG writes off NNPCL debt

President Bola Tinubu has approved the cancellation of a substantial portion of the debts owed by the Nigerian National Petroleum Company Limited, (NNPCL) to the Federation Account, wiping off about $1.42billion and N5.57trillion after a reconciliation of records between both parties. This is contained in a document prepared by the Nigerian Upstream Petroleum Regulatory Commission, (NUPRC), and presented at the November meeting of the Federation Account Allocation Committee, (FAAC). The report is titled: ‘Report of October 2025 Revenue Collection Presented at the Federation Account Allocation Committee Meeting Held on 18th…

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New tax laws: FG stands firm on Jan. 1 rollout

Aminu Imam
FG on new tax laws

The Federal Government has reaffirmed that the implementation of the new tax laws will commence on January 1, 2026, insisting there will be no postponement despite mounting controversy and calls for a delay over alleged irregularities in the legislative process. However, in response to public concerns surrounding the passage, presidential assent and gazetting of the laws, the leadership of the 10th National Assembly has directed the Clerk to re-gazette the Tax Acts, and issue Certified True Copies of the versions duly passed by both chambers. The firm stance by the…

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FG graduates 7,000 forest guards across 7 states

Aminu Imam
FG on forest guards

The Federal Government has announced the graduation of more than 7,000 newly-recruited forest guards drawn from seven frontline states after completing a three-month training programme under the ‘Presidential Forest Guards Initiative’. The graduation ceremonies were held yesterday in Borno, Sokoto, Yobe, Adamawa, Niger, Kwara and Kebbi states. Recall that the initiative, launched in May 2025 by President Bola Tinubu, is aimed at improving internal security by denying terrorists, bandits and kidnappers access to forest areas. The President directed each state to recruit between 2,000 and 5,000 forest guards. The graduation…

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FG confirms January 2026 tax reforms

Aminu Imam
Oyedele on tax

…Dismisses TIN–bank account freeze fears The Federal Government has confirmed that major tax reforms will take effect from January 1, 2026, while moving to calm public concerns over claims that bank accounts will be frozen or automatically debited if not linked to a Tax Identification Number, (TIN). Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, addressed the concerns in a post, titled: “FACT NOT FEAR” on his official X handle yesterday, dismissing what he described as widespread misinformation surrounding the policy. Oyedele clarified that the requirement…

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Lagos-Calabar super highway project: FG secures $1.2bn financing for Phase-1

Aminu Imam
FG Lagos Calabar highway2

The Federal Government says it has secured $1.26 billion in financing for the execution of the second section of the first phase of the Lagos-Calabar coastal highway. Announcing the loan in a statement yesterday, the presidency said President Bola Tinubu commended the ministries of finance and works, and the Debt Management Office (DMO) for collaborating on the latest transaction. Tinubu was said to have made commitments that the federal government would continue to explore innovative financing options to fund critical projects nationwide. He was quoted as saying: “This is a…

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FG vows justice after deadly bomb explosion in Maiduguri

Aminu Imam
FG vows justice

Vice-President, Kashim Shettima says the Federal Government is deploying additional tactical teams to the area attacked by terrorists in Maiduguri, to track down and apprehend those responsible. Shettima, who stated this in a statement yesterday, condemned the bomb explosion that claimed five lives and left several others injured at a Mosque in Gamboru Market, Maiduguri, on Wednesday. The vice-president described the attack as “a despicable assault on innocent citizens and the peace of the nation”. He said President Bola Tinubu has ordered an immediate intensification of security operations in Borno,…

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At last, FG, ASUU seal new deal

Aminu Imam
FG ASUU

The Academic Staff Union of Universities, (ASUU), and the Federal Government have concluded the long-awaited renegotiation of the 2009 FGN–ASUU Agreement, ending years of protracted talks and disputes over the welfare of academics and funding of public universities. The development was disclosed by ASUU in a statement shared on its official Facebook page yesterday. The agreement is scheduled to take effect from January 1, 2026, and will be reviewed after three years. ASUU announced that the new agreement was reached on December 23, 2025, following extensive negotiations between both parties.…

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