INEC Formally Recognizes Nenadi Usman as Labour Party Leader

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January 31, 2026

Reporting by ThisDay indicates that the 2026 Federal Tax Laws have officially entered their full implementation phase, marking a significant shift in Nigeria’s fiscal landscape. As of today, January 31, the government has mandated that only electronic receipts will be recognized as legal proof of payment for all federal services, ranging from customs duties to birth certificates. This move is part of the “Revenue Optimisation Platform” designed to eliminate cash leakages and ensure all funds are remitted directly to the Treasury Single Account (TSA).

The new laws also include a controversial provision requiring Nigerians in the diaspora to self-report and pay taxes on certain types of local income. While the government maintains these reforms are meant to create a fairer fiscal foundation and fund infrastructure, business owners and investors have expressed concerns over the potential for multiple taxation across different tiers of government. The Federal Inland Revenue Service (FIRS) has been tasked with providing clear guidelines for low-income earners who may be exempt.

The implementation was also validated by Daily Post and Premium Times. Daily Post highlighted that “the electronic receipt system is a major blow to corruption in revenue collection,” while Premium Times mentioned that “FIRS is setting up help desks to assist businesses with the new digital compliance.”

Echotitbits take:

The move to 100% electronic receipts for federal services is a massive leap for transparency. However, the “diaspora tax” element remains a PR nightmare. Watch for a possible “Tax Amnesty” window for those abroad to encourage compliance without legal friction.

Source: StateHouse – https://statehouse.gov.ng/new-tax-laws-will-commence-on-january-1-2026-as-planned/, January 31, 2026

Photo credit: StateHouse

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Fuel Prices Surge Toward N1,000 Milestone as Global Crude Rises

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January 31, 2026

Figures cited by The Punch show that Nigerian fuel marketers are warning of a potential petrol price hike to ₦1,000 per litre as global crude oil prices cross the $70 per barrel mark. Marketers indicated that the current landing cost of Premium Motor Spirit (PMS) has been significantly impacted by the rising international oil prices and the continued volatility of the Naira. This development threatens to further strain the disposable income of citizens who are already grappling with high transport costs.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is currently under pressure to review the pricing template to reflect these market realities. Industry experts suggest that without a significant appreciation of the Naira or a subsidy-like intervention, the ₦1,000 mark is nearly inevitable. This comes at a time when the federal government is shifting focus from economic stabilization to expansionary growth.

This news was also covered by Leadership and ThisDay. Leadership reported that “marketers are calling for a transparent pricing mechanism to avoid supply disruptions,” while ThisDay noted that “the $70 crude price is a double-edged sword for Nigeria’s oil-dependent budget.”

Echotitbits take:

Rising fuel prices are the most potent trigger for inflation in Nigeria. If the price hits ₦1,000, we expect another wave of transport fare hikes and a possible spike in food prices. Watch for the government’s “Renewed Hope” ward development programs to be fast-tracked as a palliative measure to douse public tension.

Source: The Punch – https://punchng.com/petrol-to-hit-n1000-litre-as-crude-crosses-70-marketers/, January 31, 2026

Photo credit: The Punch

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Security Agencies Nab Popular Actor Over Alleged Coup Involvement

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January 31, 2026

In an update published by Premium Times, security forces have confirmed the discreet arrest of Nollywood actor and former Actors Guild chairman, Stanley Amandi, in connection with an alleged plot to overthrow the administration of President Bola Tinubu. Amandi was reportedly taken into custody in Enugu by the Defence Intelligence Agency (DIA) during a quiet operation that initially left his family in the dark. The investigation is said to involve both high-ranking military officers and civilian collaborators linked to the foiled coup attempt.

The actor’s family initially suspected the Department of State Services (DSS) was behind the move due to the opaque nature of the arrest. However, formal correspondence later clarified that the DIA is leading the probe into what has been described as a “national security threat.” Amandi’s legal team and family have already raised concerns regarding his health, specifically citing his battle with hypertension, while requesting immediate access to him in detention.

The arrest has also been detailed by The Punch and Daily Post. The Punch stated that “the operation marks a significant expansion of the government’s crackdown on alleged dissenters,” while Daily Post reported that “security is being beefed up in Enugu following the actor’s detention.”

Echotitbits take:

The involvement of a civilian entertainment figure in a coup investigation is rare and suggests the government is casting a wide net to identify “civilian influencers” potentially tied to military unrest. Watch for a public statement from the Actors Guild of Nigeria (AGN) as this could trigger a rift between the creative industry and the security apparatus.

Source: BusinessDay – https://businessday.ng/news/article/nollywood-actor-stanley-amandi-arrested-for-alleged-role-in-coup-plot-against-tinubu/, January 31, 2026

Photo credit: BusinessDay

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Massive Shift in Regional Markets: ECOWAS Projects 5% Growth for 2026

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January 31, 2026

According to reporting from The Guardian, the President of the ECOWAS Commission, Dr. Omar Alieu Touray, has officially projected a regional economic growth rate of 5.0% for the current 2026 fiscal year. This optimistic forecast follows a resilient 4.6% growth recorded in the previous year, despite global economic headwinds and high inflation. Speaking at a news conference in Abuja regarding the exit of Mali, Burkina Faso, and Niger, the commission emphasized that the West African bloc continues to outperform other regions on the African continent.

The projections are built on the back of recovering industrial output and a steady decline in inflation across member states. Officials noted that while the global economy has slowed down, Africa’s resilience remains a key driver for the regional uptick. The commission is now focusing on harmonizing trade policies to ensure this 5% target is met through increased intra-regional commerce and infrastructure stability.

This development has been corroborated by Vanguard and The Nation. Vanguard noted that the “resilience of the West African economy is a testament to recent fiscal reforms,” while The Nation reported that “member states are being urged to maintain fiscal discipline to meet the 5% growth threshold.”

Echotitbits take:

This 5% growth projection is a bold signal of stability for a region recently rocked by the exit of three key members. Investors should watch for new trade treaties within ECOWAS to compensate for the “exit shock,” as the commission seeks to prove that the bloc remains economically viable without the Sahelian trio.

Source: Daily Trust – https://dailytrust.com/ecowas-targets-5-growth-for-west-african-countries-in-2026/ , January 31, 2026

Photo credit: Daily Trust

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Kanye West Sparks Controversy with Unannounced Pop-Up in Milan

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January 30, 2026

Kanye West (Ye) triggered chaos in Milan after staging an unannounced pop-up during Milan Fashion Week, drawing huge crowds and reportedly blocking streets.

The display centered on an “architectural” clothing concept, but attendees say no items were available for purchase, and authorities eventually stepped in over crowd control concerns.

WWD and The Cut have both noted how the disruption pulled attention away from official runway programming.

Echotitbits take: Ye remains a chaos-first marketer—building his own spotlight outside the traditional calendar. The tactics are divisive, but the turnout reinforces a reality: his influence still converts attention into mass movement.

Source: Yahoo – https://www.yahoo.com/entertainment/kanye-west-hope-music-comeback-221511744.html (2026-01-30)
Photo Credit: Yahoo

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Rema Sells Out Arena in Japan, Continuing Global Dominance

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January 30, 2026

Rema has sold out his first arena show in Tokyo, underlining the growing reach of his “Afrorave” sound across Asia.

Reports describe a high-tech stage setup and a setlist balancing major hits with experimental moments—an approach that has helped him connect globally without flattening his identity.

The Sun Nigeria and Rolling Stone have both referenced the milestone as a key marker for African music exports.

Echotitbits take: By winning in Asia, Rema is diversifying Afrobeats revenue beyond the usual US/UK lanes. If more artists follow, the industry’s touring and licensing economics could become far more resilient and truly global.

Source: BusinessDay – https://businessday.ng/life-arts/article/remas-heis-world-tour-eyes-350000-attendees-across-global-venues/ (2026-01-30)
Photo Credit: BusinessDay

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Asake Teases New Cinematic Music Video Featuring Nollywood Veterans

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January 30, 2026

Asake has shared a teaser hinting at a high-budget, cinematic music video for his next release—complete with cameo appearances from Nollywood veterans.

The concept appears to nod to classic Nigerian action-film aesthetics, expanding Asake’s signature visual language that blends street culture with stylized storytelling.

The Guardian Nigeria and Netng have both noted the cultural weight of blending Afrobeats visuals with Nollywood legacy talent.

Echotitbits take: This is audience-retention strategy at its best. By tapping Nollywood’s deep cultural memory, Asake is building visual legacy—not just hits—so the music lives longer in an era of fast, disposable content.

Source: AfroBeating – https://afrobeating.com/asake-releases-new-music-video/ (2026-01-30)
Photo Credit: AfroBeating

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Bukayo Saka Leads Arsenal to Victory and Sets New Assist Record

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January 30, 2026

Bukayo Saka delivered a standout performance in a London derby, posting two assists and reaching a landmark of 100 goal involvements faster than any player of his age in Arsenal’s history.

The winger—widely celebrated for his consistency and Nigerian heritage—has become a symbol of Arsenal’s modern resurgence and a fan-favorite across the diaspora.

The Athletic and BBC Sport have both highlighted Saka’s importance to Arsenal’s system and the value of his output.

Echotitbits take: Saka is the archetype of the modern, marketable superstar: elite output, calm leadership, and a clean brand. For Nigerian fans, he’s a visible diaspora success story—and for Arsenal, a franchise face with global pull.

Source: Arsenal FC – https://www.arsenal.com/news/sakas-latest-assist-equals-premier-league-record (2026-01-30)
Photo Credit: Arsenal FC

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LeBron James Makes History with New Scoring Milestone in Lakers Win

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January 30, 2026