Electricity supply has been restored nationwide after Nigeria’s power grid suffered a system disturbance on Monday, which resulted in a partial collapse, the Nigerian Independent System Operator (NISO) has confirmed. According to the operator, the disruption occurred at 2:01 p.m. on December 29, and it affected electricity supply in several parts of the country. Generation…
Several parts of Nigeria were plunged into darkness on Monday following the collapse of the national power grid, triggering widespread outages across the country. The Nigerian Independent System Operator (NISO) confirmed the development in a statement issued on its official social media platforms on Monday, December 29, 2025. Power supply drops sharply According to NISO,…
President Bola Tinubu has authorized the waiver of a substantial amount of debt owed to the Nigerian National Petroleum Company Limited. This debt waiver is aimed at outstanding debts up to the 31st of December 2024. The decision comes after an intensive reconciliation process. Stakeholders reviewed records between NNPC and the Federation Account. As a…
Chief Executive Officer of Air Peace, Allen Onyema, has warned that Nigeria’s airline industry could collapse within three months if the new tax laws are fully implemented. He said the policies have reintroduced charges removed under the 2020 tax reforms. Onyema made the remarks during an interview on Arise News on Sunday. He stressed that…
Nigeria will introduces new tax laws on January 1, 2026. President Bola Tinubu signs the Nigeria Tax Act and Tax Administration Act. These laws simplify rules and cut duplicate taxes. Moreover they widen the tax base fairly. Officials aim to block leaks and boost revenue without harming growth. NACCIMA Applauds the Initiative NACCIMA praises the…
The Federal Government has secured $1.26 billion in financing from Abu Dhabi to advance construction of the Lagos–Calabar Coastal Highway. The Presidency announced the development on Friday, confirming that the funding will support Phase One, Section Two of the project.President Bola Tinubu commended the Ministries of Finance and Works, as well as the Debt Management…
Ekiti State has become the first state in Nigeria to domesticate the Nigeria Tax Administration Act following the signing of the Ekiti State Revenue Administration Law, 2025, by Governor Biodun Oyebanji. The governor assented to the new revenue law on Wednesday in Ado-Ekiti. At the same time, he also signed the state’s 2026 budget of…
The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned inter-city road transport operators against imposing arbitrary fare hikes during the festive season. The warning follows a surge in consumer complaints across several parts of the country. The commission acknowledged that the yuletide period often comes with increased travel demand. It also recognised that operators…
Africa’s richest man, Dr. Aliko Dangote, has issued a seven-day ultimatum to a Kaduna-based businessman, Engr. Kailani Mohammed, demanding a full retraction and public apology over alleged defamatory statements or face a N100 billion lawsuit. Dangote made the demand through his legal counsel, Dr. Ogwu James Onoja (SAN), in a letter dated December 20, 2025….
The Federal Government has announced plans to introduce a mandatory vehicle recycling fee from 2026. The policy forms part of wider reforms aimed at modernising Nigeria’s automotive industry and unlocking new revenue streams. The National Automotive Design and Development Council (NADDC) disclosed this in a statement issued on Sunday. Its Director-General, Joseph Osanipin, said the…
