Existing tax incentives remain valid until they expire, and the guidelines aim to ensure a smooth, fair, and transparent transition to Nigeria's reformed tax system.
The Federal Government has issued guidelines for transitioning to the new Tax Acts 2025, which take effect on January 1, 2026. Tax matters relating to periods before that date will continue under the old laws, while new tax obligations will follow the new framework.
Nigeria holds more than 200 trillion cubic feet of gas, one of the largest reserves in the world.
Yet for too long, too much of that gas was flared while the country depended heavily on imported petrol and diesel.
That contradiction is what Nigeria is now correcting.
Created by the Petroleum Industry Act, 2021, with operational regulations issued in 2022, the Midstream and Downstream Gas Infrastructure Fund is now being driven with renewed urgency under President Bola Ahmed Tinubu, moving from mandate to measurable delivery.
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@ennyola0015 I am confident that the leadership, including Ojilari and BAT, will be mindful of past missteps and act in the country’s best interest.
For now, it would be reasonable to allow the process to unfold while we continue to monitor developments.
@ennyola0015 Enny, I’ve carefully reviewed your concerns regarding the Memorandum of Understanding between NNPC and the Chinese company.
However, I believe it may be prudent to give the parties involved the benefit of the doubt at this stage.
@allibaloo@ojoojadedapo He parked Anambra’s funds in banks where he had personal interests, rather than finding ways to invest and grow the state’s wealth.
Do you really think someone like that is capable of building a credible platform to become president?
Peter Obi is a boy.
@Big_marvis Second term: he must prioritize a decisive overhaul of the power sector. Fixing electricity supply will significantly reduce production costs, making goods and services far more affordable than they are now.
IMPORTANT VIDEO NEWS: The keynote address delivered by Mr. Taiwo Oyedele Minister of Finance and Coordinating Minister of the Economy, Federal Republic of Nigeria, at the launch of the NESG 2026 private sector outlook.
Dangote Group has begun oil production in the Niger Delta, with the Kalaekule field currently producing around 4,500 barrels per day, expecting to increase to 15,000 barrels soon.