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Economy, National, News

New Nigeria Revenue Service Takes Off as 2026 Begins

The Nigeria Revenue Service (NRS) has officially commenced operations, replacing the former Federal Inland Revenue Service (FIRS) as the country’s new national tax authority. The transition follows the signing of the Nigeria Revenue Service Establishment Act 2025 by President Bola Ahmed Tinubu in June. The commencement of operations coincided with the beginning of the new year. The official launch was marked by the unveiling of the NRS logo and brand identity at an event held in Abuja, signalling a new phase in Nigeria’s revenue administration framework. Speaking on the development, the Executive Chairman of the NRS, Zacch Adedeji, described the rebranding as a major milestone in the ongoing efforts to modernise Nigeria’s revenue system. Read Also: Tax Reforms on Track as Tinubu Dismisses Suspension Rumours In a statement issued by his Special Adviser on Media, Dare Adekanmbi, Adedeji said the new identity reflects a renewed commitment to building a unified, efficient, and service-oriented revenue system aligned with Nigeria’s broader economic transformation agenda. He explained that the establishment of the NRS represents continuity of purpose, enhanced operational capacity, and a forward-looking approach aimed at supporting taxpayers while strengthening national development. Adedeji further reaffirmed the agency’s commitment to transparency, partnership, and service excellence, stressing that the NRS is focused on building public trust and promoting shared prosperity across the country.

Kano, News

Kano Governor Signs N1.47 Trillion 2026 Budget into Law

Kano State Governor, Abba Kabir Yusuf, has signed the 2026 Appropriation Bill into law, approving a total budget of N1.47 trillion for the state. The Kano State House of Assembly had passed the bill last week during a plenary session led by Speaker Alhaji Ismail Falgore. The bill was considered in detail by the Committee of the Whole and went through a third reading before being forwarded to the governor for assent. Earlier, Governor Yusuf presented a budget estimate of N1.37 trillion to the assembly, describing it as the “Budget of Infrastructure, Inclusive Growth and Sustainable Development.” Read Also: Tax Reforms on Track as Tinubu Dismisses Suspension Rumours NNPP Rejects Suspension of Kano State Chairman, Calls It Illegal Beyond Betrayal: The Real Politics Behind Abba Kabir Yusuf’s Calculated Move The 2026 budget is designed to sustain ongoing projects while introducing new programs across key sectors of the state’s economy, focusing on infrastructure, education, health, and economic empowerment initiatives. Governor Yusuf emphasized that the budget aims to drive inclusive growth, strengthen service delivery, and enhance the welfare of Kano residents, ensuring sustainable development across the state.

Kano, News, Politics

NNPP Rejects Suspension of Kano State Chairman, Calls It Illegal

The National Working Committee (NWC) of the New Nigeria People’s Party (NNPP) has declared the suspension of its Kano State Chairman, Alhaji Hashimu Dungurawa, illegal, undemocratic, and of no effect. In a statement issued from the party’s National Secretariat in Abuja on Monday, December 30, 2025, the NNPP said the move, allegedly taken by some executive members of the Gargari Ward in Dawakin Tofa Local Government Area, was contrary to the provisions of the party’s constitution. The statement, signed by NNPP National Publicity Secretary, Mr. Bamofin Ladipo Johnson, emphasized that a ward executive lacks the constitutional authority to suspend or remove a state chairman. “The National Working Committee condemns the purported suspension of the Kano State Chairman, Alhaji Hashimu Dungurawa, stating that such action is misplaced, undemocratic, null, void and of no effect whatsoever,” the statement said. Read Also: NNPP Appoints Acting Chairman in Kano Kano 2027: Deputy Governor Gwarzo, Kofar Mata Emerge as Potential NNPP Candidates Beyond Betrayal: The Real Politics Behind Abba Kabir Yusuf’s Calculated Move The party added that the actions by the Gargari Ward executives constitute gross anti-party conduct and violate the NNPP constitution governing discipline and hierarchy. The NWC commended Dungurawa’s leadership, describing him as a conscientious, hardworking, and dutiful chairman whose stewardship has significantly contributed to the growth of the party in Kano State. The statement comes amid internal tensions within the NNPP in Kano, with conflicting claims over party leadership and speculations about potential political realignments ahead of future elections. Party members were urged to abide by the party’s constitution, respect internal democratic processes, and avoid actions that could create disunity.

Enugu, News, Politics

Peter Obi Dumps LP, Warns Against 2027 Election Rigging

Former presidential candidate Peter Obi has officially defected to the opposition-backed African Democratic Congress (ADC). Speaking in Enugu on Wednesday, Obi used the occasion to call for early verification of candidates’ academic records to prevent pre-election disputes. Obi expressed concern over those who have benefited from democracy yet now engage in coercion or political manipulation to favor the opposition. “We can’t allow this to happen. We will resist it. We now see people celebrating electoral fraud publicly,” Obi said. Read Also: Tax Reforms on Track as Tinubu Dismisses Suspension Rumours Kano 2027: Deputy Governor Gwarzo, Kofar Mata Emerge as Potential NNPP Candidates Beyond Betrayal: The Real Politics Behind Abba Kabir Yusuf’s Calculated Move He warned that anyone planning to rig elections in Nigeria in 2027 would be met with lawful and legitimate resistance. Obi’s statement underscores his commitment to protecting the integrity of the electoral process and ensuring that the 2027 polls remain free, fair, and transparent.

Economy, National, News

Tax Reforms on Track as Tinubu Dismisses Suspension Rumours

President Bola Ahmed Tinubu has reaffirmed that the newly enacted tax laws will be implemented as scheduled, dismissing speculations about any suspension or reversal of the reforms. The President stated that the tax laws, which took effect on June 26, 2025, alongside other related Acts scheduled to commence on January 1, 2026, will proceed as planned. In a statement personally signed on Tuesday, Tinubu described the tax reforms as a once-in-a-generation opportunity to build a fair, competitive, and resilient fiscal foundation for Nigeria. According to him, the new laws are not designed to increase taxes but to support a comprehensive structural reset of the tax system, promote harmonisation, protect taxpayer dignity, and strengthen the social contract between the government and citizens. The President urged all stakeholders to support the implementation phase, noting that the reform agenda has now firmly entered the delivery stage. Read Also: FIRS Declares NIN as Automatic Tax ID for Individual Nigerians Tinubu Begins End-of-Year Break, Heads to Europe Kano APC Reiterates Unity, Ready to Receive Governor Yusuf He acknowledged ongoing public discourse over alleged changes to certain provisions of the laws but maintained that no substantial issues have been identified that would justify disrupting the reform process. Tinubu stressed that trust in governance is built over time through responsible decision-making rather than through premature or reactive measures, while reaffirming his administration’s commitment to due process and the integrity of laws already enacted. He further pledged that the Presidency would work closely with the National Assembly to ensure the timely resolution of any issues that may arise during implementation. The President assured Nigerians that the Federal Government would continue to act in the overriding public interest to establish a tax system that supports prosperity, equity, and shared responsibility.

Economy, News

Nigeria’s FDI Hits $720m as External Indicators Improve

Foreign Direct Investment (FDI) inflows into Nigeria surged to $720 million in the third quarter of 2025, marking the country’s strongest quarterly performance this year, according to the Central Bank of Nigeria (CBN). Data from the CBN’s Balance of Payments (BoP) Highlights show that FDI rose sharply from $90 million recorded in Q2 2025, representing a 700 per cent quarter-on-quarter increase. On a year-on-year basis, inflows also exceeded the $570 million recorded in Q3 2024, reflecting a 26.3 per cent growth. The report indicated that Direct Investment liabilities which capture foreign investment into the Nigerian economy stood at $0.72 billion in Q3 2025, the highest level recorded so far this year. “Direct Investment (DI) into the economy recorded a much higher inflow of US$0.72 billion in Q3 2025 as against US$0.09 billion recorded in Q2 2025,” the CBN stated. The sharp rebound comes amid lingering concerns over weak investor confidence, elevated macroeconomic risks, and constrained capital inflows that have characterised recent years. Read Also: Kano Businessman SKY Urges Governments to Prioritise Poverty-Reducing Projects Stakeholders Call for Suspension of New Tax Law Over SME Concerns No Delay as Nigeria’s New Tax Laws Begin January 2026 — FG CBN data further revealed that the rise in FDI coincided with improvements in Nigeria’s external sector. The country posted an overall balance-of-payments surplus of $4.60 billion in Q3 2025, while external reserves increased to $42.77 billion at the end of September 2025, up from $37.81 billion at the end of June. The financial account also shifted to a net lending position of $0.32 billion, compared to net borrowing of $6.90 billion in Q2, indicating increased accumulation of external assets during the quarter. According to the apex bank, movements in the financial account were driven by higher direct investment inflows, improved participation in domestically issued instruments earlier in the year, and increased reserve asset accumulation. FDI is widely regarded as a stronger indicator of investor confidence because it reflects long-term equity participation and reinvested earnings, rather than short-term speculative flows. Although the inflows remain modest relative to Nigeria’s investment potential and historical performance, the Q3 outcome represents a notable shift from the subdued levels recorded over several quarters. However, the report also highlighted continued repatriation of reinvested earnings by domestic banks on their foreign assets, contributing to a wider primary income deficit of $2.95 billion in Q3 2025. This trend underscores the persistent impact of profit outflows on the current account, despite the improvement in headline FDI figures. The increase in FDI occurred during a quarter in which Nigeria recorded a current account surplus of $3.42 billion, supported largely by crude oil and refined-product exports as well as steady diaspora remittances. Crude oil export receipts rose to $8.45 billion, while refined-product exports increased to $2.29 billion. The CBN also noted a continued decline in refined fuel imports. These developments helped strengthen foreign exchange liquidity and boost reserve accumulation, key factors influencing investor appetite for long-term capital exposure. (Nairametrics)

Kano, News

Court Orders Interim Forfeiture of N1.1bn Allegedly Withdrawn from Kano Account

A Federal High Court sitting in Abuja has ordered the interim forfeiture of over N1.1 billion allegedly illegally withdrawn from the Kano State Federation Account domiciled with United Bank for Africa (UBA). Justice Emeka Nwite gave the order on Tuesday after granting an ex parte application filed by the Independent Corrupt Practices and Other Related Offences Commission (ICPC). The motion was argued by ICPC counsel, Oluwafunke Bada. The judge held that the application was meritorious and consequently ordered that the sum be forfeited temporarily to the Federal Government. He further directed that the interim forfeiture order be published in a national daily to enable any interested party to appear before the court and show cause why the funds should not be permanently forfeited. Justice Nwite adjourned the matter until January 21, 2026, for a report of compliance. Court documents showed that the suit, marked FHC/ABJ/CS/2634/2025, was filed by the Federal Republic of Nigeria against the sum of N1,109,230,000 domiciled in an ICPC recovery account. The suit was dated December 3 and filed on December 8, 2025, by Z.S. Nass, an Assistant Director at the ICPC. The anti-graft agency stated that the funds were recovered in the course of investigating a petition alleging financial impropriety involving the Kano State Federation Account and were reasonably suspected to be proceeds of unlawful activities. Read Also: DG Protocol Rogo Urges Kwankwaso, Gov. Yusuf to Defect from NNPP to APC Kano 2027: Deputy Governor Gwarzo, Kofar Mata Emerge as Potential NNPP Candidates Stakeholders Call for Suspension of New Tax Law Over SME Concerns In an affidavit deposed to by an ICPC Anti-Corruption Assistant, David Nelson, the commission said it received a petition dated August 19, 2024, from concerned citizens of Kano State. The petition alleged that N2.3 billion was withdrawn in cash from the state’s federation account and allegedly used for purposes unrelated to government business. According to the affidavit, investigations revealed that on November 9, 2023, the Accountant-General of Kano State, Abdulkadir Abdulsalam, authorised the payment of over N1.1 billion to two Bureau de Change companies, Namu Na Kune Global Resources Ltd and Kazo Nazo Global Concept. The ICPC further alleged that letters of authority submitted to the Kano State Government, purportedly for the supply of diesel, were signed by the managing directors of A.Y. Maikifi Oil & Gas Ltd and Ammas Petroleum Company Ltd. However, both managing directors reportedly told investigators that the contracts referenced in the letters did not exist and that no supplies were made to the state government. The commission alleged that the funds paid to the two companies were converted to foreign currency and later handed over to officials linked to the Kano State Government. It added that a total sum of N1,109,230,000 was recovered from the companies in two instalments between February and March 2025. The ICPC urged the court to preserve the recovered funds pending the conclusion of investigations and final determination of the case, a request the court granted through the interim forfeiture order. (NAN)

Abuja, Kano, News

Deputy Senate President Barau Attains PhD in Corporate Entrepreneurship

The Deputy President of the Senate, Senator Barau I. Jibrin, has earned a Doctor of Philosophy (PhD) in Corporate Entrepreneurship from Maryam Abacha American University (MAAU), Republic of Niger. The development was disclosed in a congratulatory statement issued by his Special Adviser on Media and Publicity, Mallam Ismail Mudashir, and shared on social media. According to the statement, Senator Barau, who also serves as the First Deputy Speaker of the ECOWAS Parliament, successfully defended his doctoral thesis on December 22, 2025. His dissertation, titled “Entrepreneurial Orientation and Financial Performance of SMEs: The Moderating Role of Environment,” focuses on the role of entrepreneurship in strengthening the performance of small and medium-scale enterprises. Read Also: N7 Million Paid to Ex–Kano Municipal LGA Chairman as Withheld Entitlement — Barau Jibrin Mudashir described the achievement as another milestone in the academic and public service career of the lawmaker, noting that it reflects his strong commitment to knowledge acquisition and capacity building. “Despite his tight and demanding legislative schedule, Senator Barau was able to successfully combine public service with rigorous academic work, demonstrating dedication, discipline, and resilience,” the statement read. The aide added that the PhD further reinforces Senator Barau’s profile as a legislator with keen interest in education, entrepreneurship, and national development. Senator Barau I. Jibrin represents the Kano North Senatorial District in the National Assembly.

Economy, National, News

Stakeholders Call for Suspension of New Tax Law Over SME Concerns

Professionals, academics, civil society actors, and representatives of Small and Medium Enterprises (SMEs) in Kano have urged the Federal Government to suspend the implementation of the recently gazetted Nigeria Tax Administration Act (NTAA) 2025. The appeal followed a one-day stakeholders’ dialogue held at the Centre for Information Technology and Development (CITAD) on Sunday, 21 December 2025, in collaboration with the Association of Professional Bodies of Nigeria (APBN), Kano Chapter. The dialogue brought together tax administrators, economists, SME operators, and civil society actors to discuss the impact of the new tax law on small businesses, sub-national economies, and constitutional governance. While participants acknowledged that the NTAA aims to expand the tax net, simplify tax administration, and promote digital compliance, they warned that structural and procedural challenges such as weak public awareness, low SME digital readiness, and poor record-keeping could place undue burdens on small businesses. Stakeholders expressed serious concern over alleged discrepancies between the versions of the NTAA passed by the National Assembly and the gazetted version, the inclusion of punitive clauses, limited public consultation, and foreign technical partnerships that may compromise Nigeria’s fiscal data sovereignty. In a communiqué delivered by Dr. Ahmad Muhammad Sarari and signed by representatives of Kano professional bodies, including Engr. YZ Yau, Dr. Muhammad Awwal Haruna, and Engr. Murtala Gara, participants called on the relevant authorities to suspend the implementation of the NTAA pending a comprehensive legislative review, ensure full constitutional scrutiny, protect national tax data from foreign access, remove punitive clauses, introduce SME-friendly incentives, and enhance capacity-building to encourage voluntary compliance. Read Also: Ex-FIRS Boss Calls for Cancellation of Gazetted Tax Law NNPCL Restores Escravos–Lagos Pipeline After December Explosion National Grid Restored After Nationwide Power Collapse Highlighting data protection concerns, Engr. Rabi’u Haruna warned that national tax information may have been exposed to foreign partners in violation of the Nigeria Data Protection Commission Act, which safeguards data privacy and ensures responsible handling of national data. The stakeholders further cautioned that implementing the contested tax laws without addressing these concerns could trigger litigation, constitutional challenges, and a loss of public trust in Nigeria’s tax system. They pledged continued collaboration with civil society organizations and SME associations to pursue lawful remedies should transparency and legislative integrity continue to be undermined.

Kebbi, News

Kebbi Police Restore Order After Hospital Explosion in Bagudu

The Kebbi State Police Command has assured residents that security has been fully restored following a loud explosion at the General Hospital in Bagudu early Tuesday. The assurance was contained in a statement signed by the Police Public Relations Officer, SP Bashir Usman. According to the police, a joint security team comprising personnel from the Nigeria Police Force, the military, and local vigilante groups promptly cordoned off and secured the affected area. Explosive Ordnance Disposal (EOD) and Chemical, Biological, Radiological, and Nuclear (CBRN) specialists were also deployed to conduct a detailed assessment of the scene. Read Also: Kano State Condoles Death of Legal Advocate Maryam Abubakar End of an Era: Prominent Nigerians and Global Icons We Lost in 2025 At 76, Ganduje’s Journey Reflects Service, Leadership and a Life Dedicated to Humanity The command confirmed that no casualties were recorded in the incident. While a building within the hospital’s staff quarters sustained damage, occupants had evacuated the area before the explosion occurred. The Kebbi State Commissioner of Police has ordered additional tactical deployments to maintain public order and safety. A thorough investigation has been launched to determine the cause of the explosion. Residents are advised to remain calm and avoid the immediate vicinity of the hospital to allow security agencies to operate effectively. The police further stated that updates would be provided as the investigation progresses.

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