States Harmonize Nine Tax Categories to Support National Reform

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January 9, 2026

In an update published by Premium Times, Jigawa State passed a Harmonised Taxes and Levies Bill to domesticate national tax reform measures, limiting collections to nine approved tax categories and aiming to curb multiple taxation on businesses.

The move follows similar reforms by other states in late 2025 and is designed to reduce illegal levy enforcement—such as roadblocks—while shifting revenue collection toward transparent, technology-driven systems.

Officials said the reforms are intended to broaden the tax base rather than raise rates, and to ensure collections flow through digital channels into public accounts.

The Nation and Daily Trust also reported that federal incentives may support compliance and that the reforms signal a new phase of fiscal governance.

Echotitbits take: Cutting tax complexity is a big step for SME growth and investment confidence. Expect reform-compliant states to become more attractive for business formalization in 2026.

Source: The Guardian – https://guardian.ng/news/tax-reforms-lagos-seeks-harmonisation-proposes-9-taxes-levies-across-board/ 2026-01-09

Photo Credit: The Guardian

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Funke Akindele and Toyin Abraham Dominate Nigeria’s Early-2026 Box Office

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B.O.B Echoload

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January 9, 2026

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According to BusinessDay, Nollywood stars Funke Akindele and Toyin Abraham are leading cinema charts as their December 2025 releases continued strong runs into January 2026, setting new benchmarks for domestic box office performance.

Reports indicated Akindele’s latest title crossed major revenue milestones within weeks, while Abraham’s film remained close behind, supported by strong viewing interest including diaspora markets.

Analysts say the success is boosting Nollywood’s broader value chain—marketing, costumes, post-production, and streaming—while increasing attention on international distribution and ancillary revenue beyond ticket sales.

The Punch and Vanguard also highlighted the continued momentum and the competitive dynamic as a driver of rising production standards.

Echotitbits take: These numbers underline Nollywood’s export potential. Expect more aggressive global distribution deals and tighter measurement of true producer earnings across cinemas and platforms in 2026.

Source: Vanguard – https://www.vanguardngr.com/2026/01/nollywoods-biggest-box-office-movies-of-2025-why-funke-akindele-remains-the-queen/ 2026-01-09

Photo Credit: Vanguard

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NGX Market Cap Nears ₦100 Trillion Milestone Amid Investor Optimism

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B.O.B Echoload

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January 9, 2026

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In a report by BusinessDay, the Nigerian Exchange (NGX) All-Share Index was said to be nearing 160,000 points, with market capitalization approaching the ₦100 trillion threshold. President Bola Tinubu reportedly welcomed the milestone and urged greater local investment.

The rally has been linked to strong banking, industrial, and oil and gas performances, with investors using equities as a hedge amid inflation. Analysts also cited improved FX stability as a factor supporting sentiment and potential foreign inflows.

Officials believe deeper markets could help the private sector raise long-term capital for infrastructure, though some observers warn market gains need to align with real-sector productivity to be sustainable.

The Nation and Tribune Online also reported on rising activity, including increased retail participation through mobile trading apps.

Echotitbits take: ₦100 trillion is a major psychological level. If sustained, it could accelerate IPO plans and broaden capital formation—provided earnings and governance keep pace.

Source: NgxGroup – https://ngxgroup.com/ngx-market-cap-tops-%E2%82%A6100trn-on-strong-early-year-buying/ 2026-01-09

Photo Credit: NGX Group

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Emirates Expands Premium Economy to Nigeria and Eight Other Cities

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B.O.B Echoload

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January 9, 2026

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Reporting by Mirage News indicates Emirates Airline is expanding its Premium Economy cabin to nine additional cities, including routes serving Nigeria, as the carrier deploys retrofitted Boeing 777s and A350s to meet rising demand for comfort-oriented travel.

The expansion aims to deliver a consistent premium experience across a wide network by July 2026. For Nigerian travelers, it adds a cabin tier between Economy and Business with more space, upgraded dining, and enhanced airport services.

Emirates said the A350 fleet will serve key destinations with additional frequencies during peak seasons, reflecting changes in post-pandemic passenger preferences toward comfort and value.

Premium Times and The Guardian Nigeria also referenced the rollout and expected demand from diaspora and corporate travelers.

Echotitbits take: Premium Economy is a strategic play for middle-luxury travelers who want comfort without Business Class pricing. Expect strong uptake among corporate travelers and diaspora routes.

Source: Emirates – https://www.emirates.com/media-centre/emirates-extends-premium-economy-reach-with-expanded-city-rollout/ 2026-01-09

Photo Credit: Emirates Media

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Nigerian Air Force to Receive 12 New Attack Helicopters from US Firm

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B.O.B Echoload

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January 9, 2026

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In an update published by The Punch, the Federal Government and a US-based defense company reportedly finalized plans to deliver 12 advanced attack helicopters to the Nigerian Air Force (NAF) as part of efforts to strengthen airpower against insurgency and banditry.

The Chief of the Air Staff, Air Marshal Sunday Aneke, reportedly said the first batch is expected by mid-2026. The helicopters are described as having modern night-vision and precision-strike capabilities suited for rugged terrain.

The deal is said to include training for pilots and technicians and a maintenance center in Nigeria, which would support modernization and reduce reliance on foreign contractors for routine servicing.

Channels TV and Vanguard also reported the development, including commentary about negotiations and planned basing in the North-West.

Echotitbits take: Precision air support can shift the balance if integrated with ground intelligence and rapid response. The key will be coordination, maintenance discipline, and clear rules of engagement.

Source: The Punch – https://punchng.com/insurgency-fg-us-company-plan-delivery-of-12-attack-helicopters/ 2026-01-09

Photo Credit: The Punch

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Trump Administration Issues New Visa Bond Requirements for Nigerians

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B.O.B Echoload

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January 9, 2026

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Figures cited by ThisDay indicate the United States has added Nigeria to a list of countries whose nationals may be required to pay “visa bonds,” a policy aimed at reducing visa overstays by requiring a refundable deposit that may be forfeited if travelers fail to comply with visa terms.

The reported bond amounts range from $5,000 to $15,000 depending on category, and apply mainly to B-1 (business) and B-2 (tourism) applicants. US officials argue the measure helps enforce compliance and reduce overstay-related costs.

Nigerian officials and diaspora groups have criticized the policy as discriminatory and as creating a significant barrier for legitimate travelers, students, and business visitors, with concerns it could dampen trade and cultural exchange.

The Guardian and The Nation also reported reactions, including travel-industry concerns about falling application volumes.

Echotitbits take: If implemented broadly, the policy could squeeze middle-class travel and push more Nigerians toward alternative destinations. Watch for diplomatic engagement and clarifications on scope and timelines.

Source: Premium Times — https://www.premiumtimesng.com/news/top-news/848155-us-imposes-up-to-15000-visa-bond-requirement-for-nigerian-visitors-others.html 2026-01-09

Photo Credit: Premium Times

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Troops Neutralize Bandit Leader Linked to Plateau Miners Attack

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B.O.B Echoload

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January 9, 2026

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According to Daily Post, Nigerian Army troops under “Operation Enduring Peace” killed a suspected bandit leader, Sadiq Isah, during a raid in Plateau State. Isah was reportedly linked to a December 16, 2025 attack on illegal miners in Barkin Ladi Local Government Area.

The operation in the Yolan Gboka–Yama Da Lahdi axis followed intelligence-led tracking. Troops reportedly came under heavy fire but neutralized Isah, while other gang members escaped with gunshot wounds.

After the encounter, the military reportedly recovered two AK-47 rifles and 162 rounds of ammunition. Security analyst Zagazola Makama also referenced the development and said follow-up operations were underway to track fleeing suspects.

Leadership and Vanguard carried related reports, including reactions from locals and statements on continued operations.

Echotitbits take: Neutralizing a key figure is a tactical win, but surviving cohorts can regroup. Expect intensified patrols and follow-up raids around Plateau’s mineral corridors.

Source: Daily Post — https://dailypost.ng/2026/01/09/plateau-troops-neutralise-bandit-linked-to-miners-attack-recover-arms/ 2026-01-09

Photo Credit: Daily Post

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Rivers Assembly Re-ignites Impeachment Proceedings Against Governor Fubara

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B.O.B Echoload

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January 9, 2026

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In a report by The Punch, the political crisis in Rivers State intensified as the State House of Assembly reportedly commenced a third attempt at impeachment proceedings against Governor Siminalayi Fubara and his deputy. The development follows months of fragile calm that appears to have broken down.

Lawmakers divided into rival factions cited alleged “gross misconduct” as the basis for the move. Security personnel were reported around the assembly complex as members met to consider formal notices.

Legal observers have raised questions about constitutionality given earlier court actions, while pro-Fubara supporters described the effort as a political vendetta meant to destabilize governance and disrupt projects.

Channels TV and The Sun also reported heightened tension in Port Harcourt and security presence around the assembly.

Echotitbits take: Rivers remains a flashpoint for Nigerian political volatility. Expect prolonged litigation and political brinkmanship, potentially escalating to higher courts in 2026.

Source: The Punch — https://punchng.com/breaking-rivers-assembly-begins-impeachment-proceedings-against-fubara/ 2026-01-09

Photo Credit: The Punch

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Interior Minister Decorates 133 Newly Promoted NSCDC Commandants

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B.O.B Echoload

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January 9, 2026

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Reporting by The Nation indicates that the Minister of Interior, Dr. Olubunmi Tunji-Ojo, has decorated 133 newly promoted Commandants of the Nigeria Security and Civil Defence Corps (NSCDC). Represented by Maj.-Gen. Abdulmalik Jibrin (retd.), the Minister urged the officers to justify their ranks by strengthening intelligence gathering nationwide.

The promotion is part of a strategy to reposition the NSCDC, especially following the reported transfer of some VIP protection duties from the Nigeria Police to the Corps. The Minister said today’s security challenges require merit-based leadership that can respond quickly to threats against critical infrastructure.

NSCDC Commandant General Prof. Ahmed Audi reportedly warned officers against political lobbying for postings and stressed that career growth should come through service, hard work, and mentoring subordinates.

Leadership Newspaper and Daily Post also reported on the ceremony and its timing as the Corps takes on expanded responsibilities.

Echotitbits take: This looks like an effort to strengthen internal security architecture so the military can focus on frontline combat, while the NSCDC deepens domestic intelligence and infrastructure protection.

Source: The Nation – https://thenationonlineng.net/133-nscdc-commandants-decorated-with-new-ranks/ 2026-01-09

Photo Credit: The Nation

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NACCIMA Raises Alarm Over 139 Million Nigerians in Poverty

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B.O.B Echoload

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January 9, 2026

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In an update published by ThisDay, the President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Kelvin Oye, said about 139 million Nigerians are living below the poverty line, citing updated World Bank data for 2025/2026. He argued that GDP growth is being undermined by the scale of economic hardship.

Oye said Nigeria is facing a “dual-inflation” challenge: demand-pull inflation linked to deficit spending, and cost-push inflation tied to high energy and transport costs. He added that higher interest rates may curb liquidity but also squeeze private-sector investment.

He called for a shift in fiscal policy, urging the government to prioritize manufacturing and agricultural productivity over heavy borrowing, and warned that weak purchasing power will keep pressure on prices and the naira.

The Guardian and Vanguard also reported related concerns from analysts about the widening gap between market indicators and household conditions.

Echotitbits take: The 139 million estimate highlights how macro gains can miss the street-level reality. The tension between tighter monetary policy and private-sector calls for cheaper credit could intensify into a major policy debate in 2026.

Source: BusinessDay – https://businessday.ng/news/article/2026-budget-could-trap-nigeria-in-fiscal-time-loop-despite-gains-from-reforms/ 2026-01-09

Photo Credit: BusinessDay

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