January 2026 – Page 54

Ogun IRS Explains New Tax Reform Laws to the Public

26.01.2026

The Ogun State Internal Revenue Service has urged the public to rely on facts about the Tax Reform Acts 2025 rather than speculation, as it reassured taxpayers about the implications of the new laws. The Executive Chairman of OGIRS, Olugbenga Olaleye, represented by the Coordinating Director of OGIRS, Taiwo Ogundimu, assured the public that the...

DisCos Reject FG’s Free Meter Plan: Who Pays the Cost?

26.01.2026

Power distribution companies have expressed doubt over the directive by the Minister of Power, Adebayo Adelabu, that prepaid meters must be free for all categories of customers. Operators, who spoke with our correspondent anonymously due to the sensitivity of the matter, said the minister made only a political statement without considering the input of other...

Business

REA & Lotus Bank Partner on Renewable Energy Finance in Nige

26.01.2026

The Rural Electrification Agency and Lotus Bank have moved to scale up renewable energy financing in Nigeria with plans to establish a dedicated funding facility under the Distributed Access through Renewable Energy Scale-up programme. In a statement on Sunday, the REA said the development followed a high-level meeting between both institutions recently, marking a shift...

Dangote Refinery shifts to lighter crude amid cracker downti

26.01.2026

The Dangote Petroleum Refinery has shifted to processing lighter crude oil in a strategic move to minimise production disruptions arising from the prolonged unavailability of its Residual Fluid Catalytic Cracker, according to a new report by global commodities intelligence firm Kpler. The report, obtained by our correspondent and titled “Dangote H1 2026 Outlook: RFCC challenges...

Tax Ombud Assures Nigerians of Fairer Tax Treatment

26.01.2026

The Office of the Tax Ombud has assured Nigerian taxpayers of improved protection and fair treatment as it begins implementing guidelines aimed at safeguarding taxpayer rights, strengthening trust, and enhancing voluntary tax compliance. The assurance followed a meeting held recently in Abuja between the Chief Executive Officer of the Office of the Tax Ombud, Dr...

IMF Warns Central Banks Against Aggressive Rate Cuts

26.01.2026

The International Monetary Fund has called on central banks to exercise caution in cutting interest rates, emphasising that maintaining price stability remains critical amid uneven growth and persistent inflation pressures. In its latest 13-page World Economic Outlook update, the Fund highlighted that while several economies are experiencing a modest recovery in output, inflationary pressures remain...

Vehicle Imports Nigeria from US Surge to $985m in 2025

26.01.2026

Nigerians spent a total of $985m importing motor vehicles and parts from the United States in the first 10 months of 2025, marking a sharp rise from the $543m recorded in the corresponding period of 2024, latest data from the US Census Bureau and the Bureau of Economic Analysis have shown. The figures, contained in...

Why Phone Prices in Nigeria Are So High: Rifugio Founder

26.01.2026

Founder of Rifugio Communications Limited, Dr Kayode Thomas, discusses Nigeria’s mobile phone market with DARE OLAWIN, reflecting on the company’s growth journey, operational challenges, and expansion plans. He also shares what continues to motivate his investments in Nigeria despite prevailing headwinds, and addresses perceptions that phone importers are exploiting Nigerian consumers In light of the...

Lagos to recover unpaid taxes through banks & employers

26.01.2026

The Lagos State Internal Revenue Service has announced that it will enforce its statutory powers to recover unpaid taxes from defaulting taxpayers through third parties, including banks, employers, debtors, tenants and business partners. This is contained in a public notice dated January 21, 2026, and sighted by our correspondent on the LIRS website on Sunday....

FG Links Incentives to Healthcare, Education Reforms

26.01.2026

The Federal Government has said the World Bank–assisted Human Capital Opportunities for Prosperity and Equity–Governance (HOPE-GOV) programme is designed to drive lasting reforms in budgeting and expenditure management across the country’s primary healthcare and basic education sectors. The National Coordinator of the HOPE-GOV Programme, Assad Hassan, said the initiative focuses on institutional reforms rather than...