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  • FG projects nearly ₦1.9trn from new 4% Development Levy in 2026 budget year

    FG projects nearly ₦1.9trn from new 4% Development Levy in 2026 budget year

    According to The Punch, the Federal Government is projecting about ₦1.899 trillion from the newly introduced 4% Development Levy in 2026, as the levy begins to feature in budget planning following Nigeria’s 2025 tax reforms.

    Punch reported that the levy is structured as a consolidation mechanism, rolling multiple earmarked levies into one charge on assessable profits, with the aim of simplifying compliance and improving collection efficiency.

    Deloitte’s tax update on the reform package described the measure as an “introduction of 4% development levy to replace the Tertiary Education Tax and various levies,” stressing the compliance and administrative simplification angle.

    EY’s highlights of the Nigeria Tax Act 2025 similarly note that Section 59 replaces several earmarked taxes with a unified 4% development levy on assessable profits (with stated exclusions for certain company categories).

    Analysis/Echotitbits take: The test will be whether “consolidation” actually reduces friction for businesses or simply changes the label on compulsory payments. Watch for implementation guidance, agency handovers (who collects what and when), and whether the levy materially affects investment decisions—especially for sectors that previously paid some of the constituent levies at different effective rates.

    Source: The Punch — 14 Dec 2025 (https://punchng.com/fg-eyes-n1-9tn-from-new-2026-development-levy/)

     

    Photo: Twitter/@atikuabagudu

  • DisCos added 187,765 meters in two months as national metering rate inches up

    DisCos added 187,765 meters in two months as national metering rate inches up

    Photo: Disco image – ThisDay

    According to The Punch, electricity distribution companies installed meters for 187,765 customers in September and October 2025, as reported by the Nigerian Electricity Regulatory Commission (NERC).

    The report indicated 80,943 customers were metered in September and 106,822 in October, nudging the national metering rate upward from 55.37% to 56.07% and slightly expanding the total metered customer base.

    The Guardian also cited the NERC metering factsheet and highlighted the month-to-month improvement, while pointing out that the overall metering gap remains substantial despite incremental progress.

    Vanguard similarly reported the figures and reiterated NERC’s framing that the factsheet is meant to track DisCo progress in closing Nigeria’s long-running metering deficit.

    Analysis/Echotitbits take: Nigeria’s metering story is now about pace and fairness. The monthly gains are positive, but too slow relative to demand growth and consumer distrust of estimated billing. Watch for: (1) how quickly DisCos meter high-complaint feeders, (2) the availability and financing of meters under MAP/National Mass Metering efforts, and (3) whether dispute resolution improves as metering expands.

    Source: The Punch — 14 Dec 2025 (https://punchng.com/187765-electricity-customers-metered-in-two-months-nerc/)

     

  • CBN gives payment firms 30 days to add dual channels for PoS transactions

    CBN gives payment firms 30 days to add dual channels for PoS transactions

    photo: CBN headquarters — Wikipedia

    According to The Punch, the Central Bank of Nigeria (CBN) has directed financial institutions, acquirers and payment service providers to implement mandatory dual connectivity for Point-of-Sale (PoS) transactions within one month to reduce failures and downtime.

    The directive, issued via a circular signed by the CBN’s Payments System Supervision leadership, is designed to ensure PoS transactions can automatically route through an alternative channel when one switch or aggregator fails.

    Daily Post also reported the same policy move, describing it as a 30‑day deadline aimed at stabilising PoS performance and reduce persistent transaction disruptions for merchants and consumers.

    Other industry reporting and commentary (including BusinessDay’s coverage shared on social platforms) echoed the policy intent: improve resilience, enforce reporting, and strengthen reliability testing across the payments ecosystem.

    Analysis/Echotitbits take: This is a quality-of-service crackdown, not just another circular. If enforcement is real, the biggest impact will be on downtime-driven “lost sales” for SMEs and on customer trust in cashless payments. Watch for compliance audits, penalties for repeated outages, and whether smaller aggregators can afford the redundancy costs without pushing fees higher for users.

    Source: The Punch — 12 Dec 2025 (https://punchng.com/cbn-sets-one-month-deadline-for-dual-pos-connectivity/)

     

  • Nigeria’s U.S. crude imports jump sharply as Dangote reshapes supply routes

    Nigeria’s U.S. crude imports jump sharply as Dangote reshapes supply routes

    EIA logo image used by Punch
    2025-12-14

    According to The Punch, Nigeria’s imports of crude oil from the United States surged by 153% in 2025 (February–September), reflecting changing supply economics and refinery demand.

    Punch cited U.S. Energy Information Administration (EIA) trade data showing Nigeria imported 39.99 million barrels over the period, up from 15.79 million barrels in the same window of 2024, with shipments rising month by month.

    Reuters earlier reported that the U.S. became a net exporter of crude to Nigeria for the first time in February and March 2025, a shift linked to changing refinery runs and demand signals connected to the Dangote refinery’s operations.

    TheCable also referenced EIA figures, noting the scale of Nigeria’s U.S. crude inflows and how the pattern departs from Nigeria’s typical position as a crude exporter rather than an importer.

    Analysis/Echotitbits take: The bigger story is market efficiency colliding with domestic supply constraints: if local refineries keep buying competitively priced imported crude, Nigeria’s long-standing “crude exporter, product importer” paradox could morph into a new paradox: importing crude for local refining. Watch for tighter enforcement (or redesign) of domestic crude supply frameworks, and whether lower logistics/contracting frictions can make local crude more reliable for local refineries.

    Source: The Punch — 14 Dec 2025 (https://punchng.com/us-crude-exports-to-nigeria-surge-153/)

  • Insecurity: Labour unions plan nationwide street protest for Dec. 17

    Insecurity: Labour unions plan nationwide street protest for Dec. 17

    File photo: Troops — Punch Newspapers
    2025-12-13

    According to The Punch, the Nigeria Labour Congress (NLC) says it will stage a nationwide protest on December 17 to demand stronger action on insecurity and to push for better protection of lives and livelihoods.

    The union leadership argues that persistent attacks, kidnappings and community violence are undermining economic activity and deepening hardship, and it wants government to treat security as an urgent national emergency.

    Separate reports by Vanguard and TheCable also described the planned action and quoted labour leaders framing the protest as a pressure tool to compel a firmer security response, with Vanguard noting it was intended to be nationwide.

    Organised labour urged citizens to support peaceful mobilisation while calling on authorities to avoid heavy-handed responses that could inflame tensions.

    Analysis/Echotitbits take: If labour follows through, the protest will be a real test of how the government is reading public frustration about insecurity. Watch for: (1) whether state chapters mobilise beyond major cities, (2) whether government announces fresh security measures ahead of the date, and (3) whether the protest expands into broader economic demands.

    Source: The Punch — 13 Dec 2025 (https://punchng.com/nlc-to-hold-nationwide-protest-over-insecurity-december-17/?amp)

  • Dangote Refinery Slashes Ex-Depot Petrol Price to ₦699 per Litre

    Dangote Refinery Slashes Ex-Depot Petrol Price to ₦699 per Litre

    Dangote Petroleum Refinery has announced a major cut in its ex-depot petrol price, dropping from ₦828 to ₦699 per litre in what is described as one of its most significant downward reviews this year. The refinery is also rolling out a 10‑day credit window for marketers who lift a minimum of 500,000 litres backed by bank guarantees.

    The company says the adjustment reflects improved supply conditions and its commitment to easing the burden on Nigerians grappling with high pump prices after subsidy removal. Industry players say any reduction at the gantry should, in principle, translate to cheaper fuel at filling stations if middlemen do not hoard the gains.

    Economic analysts, however, caution that exchange-rate volatility and distribution margins could still limit how much relief consumers feel at the pump. They also note that Dangote’s growing dominance in local refining makes its pricing decisions a key variable in Nigeria’s inflation outlook.

    Source: The Nation – “Dangote refinery slashes ex-depot petrol price from ₦828/litre to ₦699/litre”.

  • Health Workers Vow to Sustain Strike Over Unmet Salary Demands

    Health Workers Vow to Sustain Strike Over Unmet Salary Demands

    Health workers under the Joint Health Sector Unions have vowed to sustain their nationwide strike, accusing the Federal Government of dragging its feet on implementing a new Consolidated Health Salary Structure agreed since 2022. The unions argue that most of their welfare demands hinge on this single pay review.

    The industrial action has already forced public hospitals to scale down services, with many patients turned back or pushed to more expensive private facilities. Union leaders say they have shown patience but can no longer work under conditions they deem unfair and demotivating.

    Health-policy commentators warn that prolonged disruption will further erode trust in public hospitals and may worsen health outcomes, especially for poor Nigerians who rely solely on government facilities. They urge both sides to compromise quickly, noting that previous health-sector strikes have often ended with partial, delayed implementation of agreements.

    Source: Punch – “Health workers vow to continue strike”.

  • After Police Withdrawal, DSS Officers Jostle for VIP Escort Roles

    After Police Withdrawal, DSS Officers Jostle for VIP Escort Roles

    Following President Tinubu’s directive to drastically cut the number of police officers attached to VIPs, Department of State Services personnel are now reportedly lobbying to fill the lucrative escort slots. The shake-up has created a scramble among politicians and business elites seeking alternative state-backed or private protection.

    Security insiders say demand for bodyguards has surged, with some VIPs turning to licensed private outfits while others quietly court DSS teams. The development raises questions about whether security operatives are drifting towards a two-tier system where those who can pay enjoy premium protection.

    Analysts warn that unless surplus police personnel are redeployed into community safety, the original goal of boosting frontline policing may be lost. They also argue that any monetisation of official escorts risks deepening inequality in access to security in a country already battling rampant kidnapping and banditry.

    Source: Punch – “Police withdrawal, DSS officers lobby for VIP escort roles”.

  • Ex-Minister Chris Ngige Remanded in Kuje Over Alleged N2.2bn Contract Fraud

    Ex-Minister Chris Ngige Remanded in Kuje Over Alleged N2.2bn Contract Fraud

    Former Minister of Labour and Employment and ex-Anambra State governor, Chris Ngige, has been ordered remanded in Kuje Prison by a Federal High Court in Abuja. He pleaded not guilty to an eight-count charge bordering on alleged N2.2 billion contract fraud reportedly linked to his time in office.

    The Economic and Financial Crimes Commission is accusing Ngige of irregular contract awards and diversion of public funds. At the arraignment, his lawyers applied for bail, but the court adjourned ruling, directing that he be kept in Kuje pending determination of the application.

    The case has reignited debate about accountability for former public officials, with analysts saying the trial will test the administration’s willingness to pursue politically exposed persons. Civil-society groups are calling for an open, speedy process that goes beyond headlines to real recovery of any stolen funds.

    Source: Punch – “Ex-minister Ngige remanded in prison over N2bn fraud”.

  • Tinubu Insists There Is No Christian or Muslim Genocide in Nigeria

    Tinubu Insists There Is No Christian or Muslim Genocide in Nigeria

    President Bola Ahmed Tinubu has rejected claims at home and abroad that Christians are facing genocide in Nigeria, insisting that both Christians and Muslims are victims of terrorism and criminality rather than targets of state-sponsored religious cleansing.

    Speaking at a NASFAT event in Abuja, Tinubu said Nigeria’s insecurity is driven by historical, economic and governance problems which extremists exploit, not by official hostility to any religion. He warned that inflammatory genocide narratives risk deepening divisions and damaging the country’s international reputation.

    The president pledged to protect all Nigerians regardless of faith and asked religious leaders to help de-escalate tension rather than amplify sectarian framing of violence. The comments come after international voices, including former U.S. President Donald Trump, described attacks on Christians as genocide, a label Abuja strongly disputes.

    Source: Punch – “No Christian, Muslim genocide in Nigeria – Tinubu”.