Nigeria Can Achieve 2026 Economic Targets Through Targeted Tax Reforms

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January 23, 2026

Nigeria Can Achieve 2026 Economic Targets Through Targeted Tax Reforms

In an update published by The Nigerian Observer, the Lagos Chamber of Commerce and Industry (LCCI) said Nigeria can meet its 2026 growth targets if the government sustains its reform trajectory. The Chamber emphasized that tax harmonization and the removal of multiple levies on manufacturers are critical for boosting industrial output, competitiveness, and job creation.

LCCI’s assessment comes amid a broader push for fiscal discipline. The group said recent reforms have been painful but are beginning to attract investor interest. It warned, however, that high costs of doing business—especially energy and logistics—must be addressed so that reform gains are not eroded.

The Guardian validated the position, quoting an LCCI executive who argued for a tax system that encourages production rather than consumption. ThisDay also reported that business leaders are cautiously optimistic, particularly about the second half of 2026 if policy consistency holds.

Echotitbits take: LCCI is acting as a constructive critic. Tax harmonization is pivotal because nuisance levies across state and local levels remain a deterrent for SMEs. Reform credibility will be judged by implementation—not press conferences.

Source: StateHouse— https://statehouse.gov.ng/2026-marks-the-beginning-of-a-more-robust-phase-of-economic-growth/ (2026-01-23)

Photo Credit: StateHouse

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Niger State Seeks Global Recognition for Historic Nupe Cultural Festival

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B.O.B Echoload

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January 23, 2026

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Niger State Seeks Global Recognition for Historic Nupe Cultural Festival

Reporting by TVC News indicates that the Niger State Government is engaging the Federal Ministry of Art, Culture, and the Creative Economy on plans to transform the Bida Bariki Festival into an international tourist attraction. The proposal aims to modernize the colonial-era festival—known for showcasing Nupe heritage—and integrate it more firmly into Nigeria’s national cultural calendar.

Officials and lawmakers argue that a modernized festival could attract global tourists, create local jobs, and provide market access for Nupe craftspeople known for glass and brass work. The plan also includes developing infrastructure around Gurara Falls to complement the cultural experience and expand visitor stay-time.

Leadership newspaper validated the story, quoting Minister Hannatu Musawa on a strategy to turn local festivals into global assets that drive the creative economy. Daily Trust also reported community-level support, with local leaders describing the move as long-overdue recognition.

Echotitbits take: This is a credible pathway to diversifying Nigeria’s soft power and non-oil revenues. Cultural tourism is a major global market, and Nupe heritage has distinctiveness. Infrastructure delivery—roads, safety, hospitality capacity—will determine whether this becomes a true international draw.

Source: TVC News — https://www.tvcnews.tv/niger-seeks-fgs-partnership-to-transform-bida-bariki-festival-into-global-cultural-attraction/ (2026-01-23)

Photo Credit: TVC News 2026-01-23

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Eleven Nigerians Apprehended in Thailand Over Multi-Million Baht Romance Scam

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B.O.B Echoload

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January 23, 2026

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Eleven Nigerians Apprehended in Thailand Over Multi-Million Baht Romance Scam

In an update published by Vanguard, Thai police arrested 11 Nigerian nationals following a coordinated raid on a suspected international romance-scam syndicate. The group was reportedly operating out of the Muang Thong Thani area and is alleged to have defrauded local citizens of millions of baht. Investigators said a complaint from a Thai woman—who reportedly lost more than two million baht to a suspect posing as a foreign engineer—helped trigger the operation.

Authorities allege the syndicate used fake social media profiles to build trust with victims before soliciting funds for fictitious construction projects or emergencies. During the arrests, Thai immigration officials seized laptops, mobile phones, and bank books allegedly used in the operation. The suspects are being held pending formal charges and potential extradition-related processes.

Channels TV verified the arrests, quoting a Thai police official who described the group as highly organized and adept at social engineering. The Nation also covered the incident, noting it highlights ongoing cybercrime challenges involving Nigerians abroad.

Echotitbits take: This development is a setback for Nigeria’s international image—especially as policymakers push for improved mobility and visa outcomes. It underscores the case for deeper EFCC collaboration with foreign law enforcement to disrupt syndicates at their operational roots.

Source: Vanguard — https://www.google.com/amp/s/www.vanguardngr.com/2026/01/thai-police-arrest-11-nigerians-over-alleged-international-romance-scam/amp/ (2026-01-23)

Photo Credit: Vanguard 2026-01-23

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Local Currency Firms Up Against Dollar in Early 2026 Trading

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B.O.B Echoload

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January 23, 2026

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Local Currency Firms Up Against Dollar in Early 2026 Trading

Figures cited by Vanguard show that the Nigerian Naira began the third week of January on a strong note, appreciating to approximately 1,418 per dollar in the official market. The move has been attributed to increased liquidity in the Nigerian Foreign Exchange Market (NFEM) and a drop in speculative demand. Analysts say the Central Bank’s efforts to clear outstanding obligations have restored some confidence among corporate buyers.

In the parallel market, the currency also showed resilience, trading between 1,470 and 1,485 per dollar. Market watchers point out that the gap between official and street rates is narrowing—an objective of current monetary policy. Bureau De Change operators say typical New Year volatility has been tempered by a steady flow of diaspora remittances and improved oversight.

The Guardian also reported that rate convergence is a positive signal for international investors. ThisDay quoted a financial analyst saying that improved transparency is contributing to market stability. The market remains optimistic that the Naira can hold its trajectory through the first quarter.

Echotitbits take: Stability is the keyword. While 1,400+ remains a high level, reduced daily swings help businesses plan. The true stress-test will be sustaining liquidity without undue pressure on external reserves.

Source: Reuters — https://www.reuters.com/world/africa/south-african-rand-firmer-ahead-local-inflation-data-2026-01-21/ (2026-01-23)

Photo Credit: Reuters 2026-01-23

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Nigerian Troops Neutralize Terror Commanders in Sambisa Forest Raid

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B.O.B Echoload

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January 23, 2026

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Nigerian Troops Neutralize Terror Commanders in Sambisa Forest Raid

In an update published by Daily Post, the Nigerian military’s Operation Hadin Kai recorded a significant victory against Boko Haram and ISWAP insurgents in the Sambisa Forest and Mandara Mountains. During Operation Desert Sanity V, ground troops reportedly repelled an ambush, resulting in the death of 10 terrorists. Two high-ranking commanders, identified as Basulhu and Ubaida, were among those neutralized.

The operation also led to the recovery of weapons, communication gadgets, and logistics supplies. Military sources said the encounter at Malkube was particularly intense, but that the troops suffered no casualties. The offensive is part of a renewed dry-season push to eliminate the remnants of terror cells attempting to regroup along the border with Cameroon.

Further reporting from The Punch confirmed the military’s success, quoting a spokesperson who said forces are maintaining a high tempo to ensure no safe haven remains for insurgent elements. Leadership newspaper also validated the report, adding that civilian intelligence played a key role in tracking the movements of the neutralized commanders.

Echotitbits take: Eliminating top-tier commanders is a major blow to insurgents’ command-and-control structures. Beyond battlefield wins, the next challenge is holding territory long enough for displaced residents to return safely. Expect increased border patrols to prevent fighters from slipping into neighboring countries.

Source: Zagozola — https://zagazola.org/index.php/breaking-news/troops-neutralise-two-terrorists-recover-arms-in-sambisa-forest (2026-01-23)

Photo Credit: Zagozola 2026-01-23

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Presidential Incentives Target Multibillion-Dollar Shell Bonga Southwest Project

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B.O.B Echoload

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January 23, 2026

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Presidential Incentives Target Multibillion-Dollar Shell Bonga Southwest Project

Reporting by The Nation indicates that President Bola Tinubu has approved a suite of targeted fiscal incentives to catalyze investment in major deep offshore oil projects, specifically focusing on Shell’s Bonga Southwest development. The move is intended to unlock thousands of jobs and ensure a steady inflow of foreign exchange. The President emphasized that these are “disciplined and globally competitive” measures rather than blanket tax holidays.

The incentives are structured to make Nigeria’s energy sector more attractive to international oil companies (IOCs) who have recently pivoted toward other African frontiers. During a meeting with Shell’s Global CEO, Wael Sawan, the Presidency highlighted that Shell and its partners have already committed nearly $7 billion to various Nigerian projects over the past 13 months. This new policy framework is expected to accelerate the Final Investment Decision (FID) for Bonga Southwest.

Validation from Vanguard shows that industry analysts see this as a turning point for the petroleum sector, with one expert stating that policy stability is critical for restoring long-term upstream confidence. Additionally, Channels TV reported that the government expects the project to generate sustained revenue over the life of the asset. Shell’s CEO remarked that Nigeria’s investment climate has improved, giving the company confidence to evaluate longer-term horizons.

Echotitbits take: After years of divestment talk, this is a major signal to Nigeria’s upstream sector. The focus on targeted rather than blanket incentives suggests a more sophisticated approach to balancing investor needs with national revenue. The immediate impact will be on FX stability if these projects move from paper to production.

Source: The Punch — https://punchng.com/shells-5bn-bonga-swest-project-gets-presidential-support/ (2026-01-23)

Photo Credit: The Punch 2026-01-23

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Tinubu Approves Strategic Postings for Top Nigerian Envoys to U.S. and UK

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B.O.B Echoload

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January 23, 2026

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Tinubu Approves Strategic Postings for Top Nigerian Envoys to U.S. and UK

According to Premium Times reporting, President Bola Tinubu has officially cleared the deployment of four high-level ambassadors-designate to represent Nigeria’s interests in the United States, United Kingdom, France, and Turkey. This move is aimed at filling critical vacancies in Nigeria’s primary diplomatic missions, which have been managed by lower-level officials for several months. The appointments follow a rigorous Senate confirmation process that concluded late last year.

The strategic reorganization is designed to strengthen Nigeria’s bilateral ties with these global powerhouses. Among the notable postings, Colonel Lateef Are has been assigned to the United States, while Ambassador Amin Dalhatu, a seasoned diplomat formerly stationed in South Korea, will lead the Nigerian High Commission in the United Kingdom. Ambassador Ayodele Oke has been designated for the mission in France, completing the trio of major Western postings.

In a simultaneous development, the Daily Post confirmed that the Ministry of Foreign Affairs has been instructed to notify the host countries immediately to facilitate the formal assumption of duties. Furthermore, The Nation reported that these postings are part of a broader “reinvigoration of Nigeria’s foreign policy machinery.” A government spokesperson noted that the President is committed to ensuring that Nigeria’s voice is heard clearly in the world’s most influential capitals.

Echotitbits take: These appointments are long overdue and signal a shift toward active economic diplomacy. By placing experienced hands in D.C. and London, the administration is likely looking to secure more favorable trade terms and attract foreign direct investment. Watch for a flurry of bilateral meetings in the coming months as these envoys settle in.

Source: Premium Times — https://www.premiumtimesng.com/news/headlines/851383-tinubu-posts-four-ambassadors-designate-to-us-uk-france-turkey.html(2026-01-23)

Photo Credit: Premium Times 2026-01-23

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Tiwa Savage Takes Over Fashion Week with Bold Styles

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B.O.B Echoload

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January 22, 2026

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A TikTok video by @fashion_forward_ng shows Tiwa Savage moving through Fashion Week street style scenes surrounded by photographers. The singer—often called the “Queen of Afrobeats”—showcased multiple avant‑garde looks that quickly circulated across style pages and fashion TikTok.

Tiwa Savage has increasingly positioned herself as a style-forward celebrity, with a growing record of luxury-facing appearances and collaborations. Her presence at major fashion moments continues to tighten the link between African music visibility and global luxury culture.

Vogue (via Instagram) featured the singer in fashion-week coverage, framing her as a compelling style figure to watch. The Sun Nigeria also amplified local reactions, noting her continued relevance both in music and fashion.

Echotitbits take

Tiwa is converting music fame into a fashion asset—an approach that supports longevity through endorsements, creative direction, and luxury brand alignment beyond the music cycle.

Source: Facebook — https://web.facebook.com/starthronelive/posts/trending-fans-are-calling-out-tiwa-savages-bold-stage-outfit-at-the-taste-of-cul/1568224705318295/?_rdc=1&_rdr# (January 22, 2026)

Photo Credit: Facebook

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Rema Set to Headline Major European Festival

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B.O.B Echoload

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January 22, 2026

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In a post shared by @heisrema, the “Calm Down” star announced he will be headlining one of Europe’s largest music festivals this summer. The booking marks another milestone for the artist widely associated with the “Afro-Rave” sound.

Rema’s international reach has expanded rapidly, with multiple hits translating across regions including Europe, the Middle East, and parts of Asia. A headline slot at a major European festival places him in a top-tier live-performance bracket typically reserved for global pop draws.

Channels TV reported on the announcement as further evidence of global momentum. Pitchfork also referenced the broader shift, positioning Rema as part of a new wave shaping global pop’s center of gravity.

Echotitbits take

Rema is moving beyond “Afrobeats star” into global pop headliner territory. These festival moments are high-leverage for brand partnerships, touring economics, and long-term catalog growth.

Source: Afromixx— https://afromixx.com/rema-to-headline-untold-dubai-2025-afrobeats-takes-center-stage/ (January 22, 2026)
Photo Credit: Afromixx

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Funke Akindele Breaks Record with New Movie Premiere

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B.O.B Echoload

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January 22, 2026

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According to @funkejenifaakindele on Instagram, her latest cinematic release has broken opening weekend records for a Nollywood film. The actress and producer shared photos from the premiere and thanked fans for their support.

Akindele—often positioned as one of Nollywood’s most bankable hitmakers—has repeatedly delivered high-grossing theatrical titles that connect strongly with mainstream Nigerian audiences. Her new project reportedly blends social themes with her signature comedic sensibility, a formula that has historically traveled well in local cinemas.

The Nation described the performance as another proof-point of her commercial consistency. Premium Times also pointed to the broader significance for Nigerian theatrical releases and investor confidence.

Echotitbits take

Akindele’s box office track record is not accidental; it is audience science. Sustained success at this level helps normalize private investment into Nollywood production and distribution—especially for cinema-first releases.

Source: @funkejenifaakindele on Instagram — https://www.instagram.com/p/DTvG3AIATMb/ (January 22, 2026)

Photo credit: Instagram

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