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Photos: Ongoing Hunger Protest In Osogbo
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There is ongoing protest in Osogbo, Osun State capital, over the current economic situation in Nigeria.
Naijablitznews recalls that the NLC and the Trade Union Congress had, on February 8, issued a 14-day nationwide strike notice to the Federal Government over the failure to implement the agreements reached on October 2, following the removal of the fuel subsidy.
The FG’s failure to fulfill its promises after the ultimatum by Labour will be met with a two-day nationwide protest, slated for today (Tuesday), February 27, and Wednesday, February 28.
Organised labour, had last Monday, begun mobilising its members for the nationwide protests over the high cost of living in the country.
Even masquerades dey here. People from the spiritual realm are happy too.
President Tinubu will commission Airport Road (Bill Clinton Drive) To Tunga Madaki Community Today
#FCTRenewedHope
#FCTProjectsCommissioning
By Gloria Ikibah
The Federal Government has released comprehensive guidelines to steer taxpayers, revenue authorities and other stakeholders through the transition from Nigeria’s existing tax laws to the newly enacted Tax Acts 2025, which take effect from January 1, 2026.
The guidelines, issued by the Head of Information and Public Relations Unit in the Federal Ministry of Finance, Efe Ovuakporie, outlined how tax obligations, assessments, audits, disputes and compliance matters will be managed as the country moves to a new tax framework designed to modernise revenue administration and improve the business environment.
According to the Ministry, the General Guidelines for the Implementation of the Tax Acts 2025 provide clarity on the treatment of tax matters that straddle both the outgoing and incoming legal regimes.
The statement read: “Under the Guidelines, the Tax Acts 2025 comprising the Nigeria Revenue Service (Establishment) Act, the Nigeria Tax Act, the Nigeria Tax Administration Act, and the Joint Revenue Board (Establishment) Act apply from the respective commencement dates as enacted in each law.
“In particular, January 1, 2026 for the Nigeria Tax Act, 2025. Tax liabilities, assessments, audits, investigations, disputes and enforcement actions relating to periods before that date will be treated under the repealed tax laws.
“Tax returns relating to accounting periods ending before January 1, 2026, will be filed under the previous tax laws, while returns falling due from January 1, 2026, onward will be administered under the new tax framework.
“The document also covers the treatment of income taxes, transaction taxes, development levies, tax incentives, exemptions, record-keeping obligations and transactions that span both the old and new tax regimes.
“Existing tax incentives and exemptions granted under the repealed laws will remain in place until their expiration dates. New applications and pending requests, however, will be considered under the provisions of the Tax Acts 2025”.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the document provides a framework for managing transitional issues while ensuring that the new laws are not applied retrospectively.
He described the Tax Acts 2025 as a significant milestone in Nigeria’s tax reform programme, noting that the Guidelines set out how existing obligations, ongoing matters and future transactions will be treated under the new regime.
According to the Minister, the Guidelines are anchored on three key principles – clarity, fairness and administrative certainty.
“The Guidelines are intended to promote uniform implementation and support effective administration across the Nigeria Revenue Service, State Internal Revenue Services, the FCT Internal Revenue Service, Local Government Revenue Committees, tax practitioners and taxpayers nationwide.
“The Government reaffirmed its commitment to building a transparent, efficient and modern tax system that supports economic growth, strengthens revenue administration, encourages voluntary compliance and improves Nigeria’s investment climate”, it stated.
President Tinubu will Commission Airport Road (Bill Clinton Drive) To Tunga Madaki Community Today
#FCTRenewedHope
#FCTProjectsCommissioning
DAY 7 of Projects Commissioning in the FCT(VIDEO)
FG Unveils Transition Rules for New Tax Regime Ahead of 2026 Rollout
DAY 7 of Projects Commissioning in the FCT
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