The 36 states of the federation are set to receive an estimated N5.07tn as their share of Value Added Tax in 2026, following the commencement of a new VAT sharing formula introduced under the National Tax Acts. This development is contained in the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper approved by the Federal Executive Council. According to the fiscal framework, the implementation of the new National Tax Acts from January 2026 will reduce the Federal Government’s VAT share from 15 per cent to 10 per cent, while the states’ share rises from 50 per cent to 55 per…
Author: Reporter
National Coordinator of the Obidient Movement, Dr Yunusa Tanko, has dismissed speculation that former Anambra State Governor Peter Obi may accept a vice-presidential role ahead of the 2027 general election. Tanko, who is a close ally of Obi, clarified in an interview monitored by The Pundit that the former Labour Party presidential candidate remains focused solely on contesting for the presidency. According to him, “We have never put that on the table. Obi is running for the office of the President of the Federal Republic of Nigeria. No more, no less. There is no discussion or anything related to him…
Super Eagles and Dender FC of Belgium defender Benjamin Fredrick is set to miss the 2025 African Cup of Nations after sustaining a knee injury on Friday. The 20-year-old, who played all 120 minutes in both of Nigeria’s CAF World Cup play-off matches against Gabon and DR Congo, reportedly picked up the injury while training with Belgian side FCV Dender EH, where he is currently on loan from Brentford. “Expected to return to action after the tournament. The rising star started his country’s last six games under Eric Chelle.” Fredrick has quickly become an integral part of the Super Eagles…
Jimmy Cliff, the renowned Jamaican singer and actor, has passed away at the age of 81. The news was confirmed by his wife, Latifa Chambers, on his official Instagram page, citing a seizure followed by pneumonia as the cause of death. Cliff was a legendary figure in reggae music, best known for hits like ‘The Harder They Come,’ ‘Many Rivers to Cross,’ and ‘You Can Get It If You Really Want.” Jimmy Cliff’s wife, in the heartfelt message expressed her gratitude, saying: “I am thankful for his family, friends, fellow artists and co-workers who have shared his journey with him.…
Estevao scored a breathtaking solo Champions League goal to win the battle of the teenage prodigies against Lamine Yamal on Tuesday as Chelsea humbled 10-man Barcelona 3-0. The two 18-year-olds were the focus of attention in the build-up to the game at Stamford Bridge, with Chelsea boss Enzo Maresca urging his player to ignore the comparisons. Estevao’s moment of magic came 10 minutes after half time when he received the ball on the right before beating two defenders and lashing it into the roof of Joan Garcia’s net. It was the 10th goal of the season for club and country…
The Central Bank of Nigeria (CBN) has kept the Monetary Policy Rate (MPR) unchanged at 27%, while adjusting the standing facility corridor to +50/-450 basis points. Cash Reserve Requirements remain at 45% for deposit money banks, 16% for merchant banks, and 75% for non-TSA public sector deposits, with the Liquidity Ratio steady at 30%. CBN Governor Olayemi Cardoso, speaking after the final Monetary Policy Committee (MPC) meeting of 2025, said the decision reflects efforts to sustain disinflation, noting October marked the seventh consecutive month of declining inflation. He attributed the trend to tighter monetary policy, stable exchange rates, improved food…
The battle for control of the Peoples Democratic Party (PDP) deepened on Tuesday as allies of the Minister of the Federal Capital Territory, Nyesom Wike, filed a suit at the Federal High Court in Abuja seeking to nullify the party’s recent national convention in Ibadan. The faction, led by acting national chairman Mohammed Abdulrahman and national secretary Samuel Anyanwu, is asking the court to declare the November 15–16 convention invalid and to restrain the Independent National Electoral Commission (INEC) from recognising its outcomes, including newly elected officers and disciplinary actions. In case number FHC/ABJ/CS/2501/2025, the plaintiffs argue that the convention…
Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Amupitan, has reaffirmed the commission’s zero-tolerance stance on election malpractice, declaring that combating rigging and vote-buying is now “non-negotiable.” Speaking at INEC headquarters on Tuesday during the swearing-in of Prof. Adeniran Tella as the Resident Electoral Commissioner (REC) for Oyo State, Amupitan stressed that the credibility of Nigeria’s elections is the bedrock of its democracy. Amupitan, who assumed leadership of INEC in October, described the ceremony as a solemn occasion and a reminder of the weight of responsibility carried by electoral officers. “This is a profound responsibility, placing you at…
ABUJA Presdient Bola Ahmed Tinubu has ordered a 24-hour security cordon around forests in Kwara, Kebbi and Niger states, to link up with the boots on the ground, following a surge in kidnappings and terrorist activities. His directive came as over 20 persons, including a pregnant woman, nursing mothers and children, were abducted Monday evening in a fresh attack on Isapa, a community just five kilometres from Eruku, in Kwara State. Special Adviser to the President on Media and Public Communication, Sunday Dare, who disclosed this via a post on his X handle yesterday, said the President ordered the Nigerian…
Lagos State governor Babajide Sanwo-Olu, on Tuesday laid before the Lagos State House of Assembly a ₦4.237 trillion spending plan for 2026, describing it as a “Budget of Shared Prosperity” designed to strengthen infrastructure, expand social services, and deepen economic resilience. The presentation, which began shortly after 1 p.m., drew a full house of dignitaries including members of the state executive council, local government chairmen, and traditional rulers. Security was visibly tight around the Assembly complex, with police, civil defence, and neighbourhood safety officers manning entry points. Key highlights of the appropriation bill include: Projected Revenue: ₦3.99 trillion (₦3.12 trillion…