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Analysis: Tinubu’s Tax Bills & Nigeria’s Economic Future

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Analysis: Tinubu's Tax Bills & Nigeria's Economic Future

On Thursday, President Bola Tinubu is expected to sign into law four sweeping tax reform bills aimed at overhauling Nigeria’s complex and inefficient revenue system.

According to the Presidency, these reforms mark a significant milestone in the country’s fiscal history and are poised to reshape the tax landscape for both individuals and businesses.

The bills: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, have been in the works for several months and were passed by the National Assembly after consultations with stakeholders across the public and private sectors.

Bayo Onanuga, Special Adviser to the President on Information and Strategy, confirmed the development in a statement on Wednesday evening, describing the reforms as “transformational.”

The bills will be signed into law at the Presidential Villa in Abuja in the presence of several high-ranking officials. Dignitaries expected include Senate President Godswill Akpabio, House Speaker Tajudeen Abbas, and Finance Minister Wale Edun, among others. The inclusion of governors and revenue committee leaders underlines the multi-tiered cooperation the reforms are meant to foster.

What the New Laws Aim to Do

At the heart of these reforms is a mission to modernize tax administration, streamline revenue collection, and encourage compliance. Each bill carries distinct goals:

  1. Nigeria Tax Bill (Ease of Doing Business):
    This bill consolidates Nigeria’s fragmented and often contradictory tax laws into a single statute. The aim is to reduce the multiplicity of taxes and eliminate duplication, which has historically burdened businesses and discouraged compliance. The streamlined framework is expected to reduce the cost and complexity of doing business in Nigeria.
  2. Nigeria Tax Administration Bill:
    This legislation creates a harmonized legal and operational framework for tax administration across the federal, state, and local governments. By aligning tax processes nationwide, it intends to minimize bureaucratic inefficiencies and reduce conflict between different tiers of government over tax jurisdiction.
  3. Nigeria Revenue Service (Establishment) Bill:
    A key highlight of the reform package, this bill repeals the Federal Inland Revenue Service (FIRS) Act and establishes the Nigeria Revenue Service (NRS), a more autonomous and performance-driven national revenue agency. Its expanded mandate will include non-tax revenue collection, and it introduces a framework for transparency, accountability, and service delivery.

Joint Revenue Board (Establishment) Bill:
Designed to foster cooperation among federal, state, and local tax authorities, this bill creates a formal governance structure to oversee joint revenue efforts. Notably, it includes the creation of a Tax Appeal Tribunal and a Tax Ombudsman’s Office, both aimed at safeguarding taxpayer rights and offering avenues for dispute resolution.

What It Means for Nigeria’s Economy

At a time when Nigeria faces dwindling oil revenues, mounting public debt, and inflationary pressures, the move to reform tax administration is both strategic and necessary. Here’s what the new tax framework could mean in practical terms:

1. Improved Revenue Generation

Nigeria’s tax-to-GDP ratio, which hovers below 10%, is among the lowest in Africa. By streamlining collection and cutting down on evasion and inefficiencies, the reforms could significantly raise government revenues without introducing new taxes. This would help finance critical infrastructure and social services, reducing reliance on external borrowing.

2. Ease of Doing Business

For years, businesses in Nigeria have had to navigate a web of overlapping and often arbitrary taxes. The consolidated tax bill aims to simplify this environment, which could attract both domestic and foreign investors. A predictable tax system lowers the cost of compliance and encourages formal sector participation, an essential ingredient for sustainable growth.

3. Federalism and Fiscal Coordination

The creation of a Joint Revenue Board and a harmonized tax administration framework signals an effort to improve intergovernmental coordination. Historically, states and the federal government have clashed over tax authority and allocation. A unified system can reduce duplication and friction while increasing the efficiency of public finance at all levels.

4. Institutional Reform and Accountability

By replacing the FIRS with the Nigeria Revenue Service, the government appears committed to modernizing tax collection through a performance-driven model. The inclusion of oversight mechanisms, such as the Tax Ombudsman, signals a shift toward a more transparent and accountable system that protects taxpayer rights.

5. Risks and Implementation Challenges

While the reforms are ambitious and laudable, implementation will be key. Without proper training, digital infrastructure, and cooperation among agencies, the new framework could falter. Also, taxpayer trust, especially among SMEs, remains low, and it will take sustained outreach and consistent results to shift public perception.

Is This A Path to Fairer Taxation?

For ordinary Nigerians, tax often feels more like punishment than participation. With the cost of living soaring, many worry about what reform means for them. The government insists these laws will not introduce new taxes but will instead make the system more efficient and equitable.

If implemented as planned, these reforms could reduce harassment from tax agents, bring clarity to payment obligations, and ensure that citizens see more visible returns on their contributions to the public purse.

The signing of these four tax bills represents a foundational shift in how Nigeria manages one of its most crucial levers of development: domestic revenue. While the path ahead may be fraught with institutional and logistical hurdles, the reforms offer a chance to reset the country’s tax narrative, from one of confusion and coercion to one of clarity, fairness, and growth.

Whether the government can translate intention into impact will determine whether these laws truly become the game-changers they promise to be.

Ripplesnigeria.com

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After Petrol, Dangote Refinery Slashes Cooking Gas Price Lowest In Nigeria [Price Per State Emerges]

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Africa’s largest refinery, Dangote Refinery, has slashed the price of liquified natural gas (LPG), also known as cooking gas to the lowest in 2025, a few hours after cutting petrol rate, a move that has sent joy to Nigerian households.

This move came barely 24 hours after the refinery reduced its petrol prices to N820 per litre from N854.

Checks showed Dangote Refinery lowered the cooking gas price, easing hardship for Nigerians.

Checks by Legit on petroleumpriceng’s price data show that the refinery slashed the LPG price to N740 per kg, the lowest among depot operators and cheapest in Nigeria.

The latest price is also the cheapest the refinery has sold cooking gas in 2025 after rates jumped above N1,000 per kilogramme.

Experts have hailed the move as exemplary, urging other operators to follow suit. They also attributed the latest price cut to the declining crude oil prices in the international market.

Where it’s cheapest and costliest

Oyo, Plateau, and Yobe currently offer the lowest 5kg refill costs at ₦7,100, ₦7,200, and ₦7,600, respectively. For the 12.5kg size, Yobe leads with ₦19,000, followed by Niger (₦19,242.48) and Jigawa (₦20,025.94).

At the other extreme, the South-South zone records the highest average: ₦8,871.63 for a 5kg cylinder and ₦22,179.08 for a 12.5kg refill. In contrast, the South-West pays the least regionally—₦7,960.42 and ₦20,402.42, respectively.

A reversal of fortune for Nigerians
This development came after Legit.ng reported that cooking gas prices are on the rise again.

For the fifth straight month, cooking gas prices in Nigeria have risen, tightening the squeeze on household budgets.

According to fresh data from the National Bureau of Statistics (NBS), refilling a 5kg cylinder now costs ₦8,323.95—up 1.92% from May’s ₦8,167.43 and a hefty 19.49% more than in June 2024.

The pain is sharper for larger households. A 12.5kg cylinder refill now costs an average of ₦21,010.56, marking a 1.46% rise from May and a staggering 33.52% jump compared to last year’s ₦15,736.27.

Crude oil prices slump
“International crude oil price is a great factor in setting petroleum product prices globally,” energy analyst and Team Lead at Platforms Africa, Adeola Yusuf, said.

According to him, falling crude prices mean falling petroleum product prices, and vice versa. Findings show that Brent Crude slumped 0.66% on Wednesday, August 13, 2025, to sell at $65.46 per barrel.

WTI fell 0.75% to sell for $62.35 per barrel, while Murban Crude sold for $67.52 per barrel, recording a 0.89% decline.

Why the surge won’t stop
Despite being Africa’s largest oil producer, Nigeria imports much of its cooking gas.

This dependence makes local prices vulnerable to swings in the global market. Disruptions in supply chains, increased global demand, and geopolitical tensions have driven up costs worldwide.

The naira’s persistent weakness worsens the situation, as importers pay more to secure foreign exchange, passing the burden to consumers.

 

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Fuel Scarcity: Petrol Price Rises Above N1,500 As Marketers Shut Filling Stations To Support Strike

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A litre of petrol is selling for as high as N1,700 as fuel scarcity has hit residents of Benue state following the petrol tankers’ protest over unfulfilled compensation

Several filling stations are closed, and black market operators have taken advantage of the situation to hike prices

The sudden shutdown has sent petrol prices skyrocketing to hit new levels as black market operators have taken advantage of the situation.

The state governor has pleaded with the petrol tankers to suspend their strike and return to work.

Petrol Tanker Drivers (PTD) branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) is currently on a 3-day warning strike in Benue state.

In solidarity, petrol station owners in the state shut their doors.

The sudden shutdown has sent petrol prices skyrocketing to hit new levels as black market operators have taken advantage of the situation.

Vanguard reports that desperate motorists and commercial motorcycle operators who have been left stranded are resorting to black market operators who are selling petrol for as high as N1,700 perlitre.

Prices vary depending on the location within the town, with some areas seeing prices at N1,600.

The price is a massive N775 difference when compared to N945 it was sold before the showdown.

According to a member of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Benue State, who was quoted in the report said the strike action was taken following unresolved grievances.

“A few years ago, youths attacked a etrol-laden truck on the Makurdi-Aliade road and siphoned its contents. Promises of ompensation by the former administration were never fulfilled.”

He added that efforts by NUPENG and IPMAN to engage the current administration for redress reportedly met with resistance, prompting the decision for a warning strike.

All fuel station managers were instructed to cease operations during this period. “Heavy penalties of up to N500,000 were threatened for non-compliance, leaving no stations perational.”

Meanwhile, the Benue State Government has urged NUPENG to call off the strike, noting that the strike was uncalled for.

Deborah Aber, the Secretary to the State Government (SSG), stated that the government received a letter from NUPENG requesting payment of over N40 million as compensation for the vandalised PMS tank in 2022.

“In the letter, they were asking for payment for their 45,000 litres of PMS they lost through the activities of vandals in 2022 at Aliade.

“We needed to sit down and look at the whole scenario and how it played out. To us, it seemed like a straightforward case of theft and vandalism, with no government involvement.

“We have held several meetings with them. Surprisingly, we woke up today to find that the stations were locked. The government too is surprised because we are still. t the discussion at table.

“When we received the letter, we wrote to the police and DSS to furnish us with what happened that time.

In the letter they were claiming payment of over N40m for the loss of their goods in 2022.”

NNPC increase petrol prices
The new price follows changes announced by petrol importers and the Dangote Refinery amid the global oil price increase

NNPC Limited retail outlets are now selling nigher rate than the rate offered by Dangote refinery partners.

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What God Showed Me About NNPC GMG Ojulari -Primate Ayodele Reveals

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Spiritual leader and founder of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has sounded an alarm over impending challenges for a top executive at the Nigerian National Petroleum Company (NNPC), warning that powerful cabals are working behind the scenes to frustrate and destabilize him.

In a recent video prophetic message from 00:02:07, Ayodele revealed that the General Managing Director (GMG) of NNPC is facing spiritual and political sabotage that could lead to serious complications in the months ahead.

Saboteurs Hinder Transformation, Says NNPCL Management

“NNPC GMG—the problem has just started,” the cleric declared. “They want to frustrate him. Frustrate him. Because there are cabals that have tied his life.”

Ayodele explained that these internal forces are not just opposing the GMG’s reforms or leadership style, but are spiritually plotting to discredit and dismantle his influence. According to the prophet, these groups are determined to undermine the GMG’s success and force him into conflict and confusion within the organization.

“If he’s not careful, they will create commotion for him,” Ayodele warned. “They are not just fighting his position; they are fighting his peace and his purpose.”

The renowned prophet called on the GMG to be prayerful and spiritually alert, urging him not to rely solely on political loyalty or official power to withstand the coming storm. He emphasized that the battle was more spiritual than administrative.

“This is a time to seek divine protection and guidance,” Ayodele advised. “Those around him are not all loyal. Some are pretending while planning his fall.”

Ayodele’s message adds to growing concerns about internal politics and power struggles within Nigeria’s oil and gas sector, especially as the government pushes for reforms, transparency, and accountability at the NNPC.

Though the cleric did not mention a specific name, his warning has sparked speculation about tensions within the corporation and what steps leadership must take to avoid disruption.

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