The Nigerian government has phased out the previous personal income tax laws, introducing a new rent-based deduction capped at N500,000 for tenants.
Economy
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Finally, relief for naira: Nigeria’s reserves hit 5-year high amid global uncertainty
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Customer Service Week: How FIRS boss Adedeji transformed tax Sservice, Nigerians feel the change
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Big win for naira: CBN reveals $8.6bn FX turnover as dollar inflows surge, reserves hit new high
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Prices of rice, tomatoes, other food items soars as retailers struggle with unpredictable costs
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CBN recapitalisation: Two national banks enter secret merger talks to beat the deadline
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Nigeria missing from list of top 10 African countries with highest debts to IMF in 2025
The International Monetary Fund (IMF) report shows some African countries with the most debt exposure in 2025, ranking Egypt on top of the list with over $8bn.
Germany's next leader grapples to boost defence spending
Germany's next leader, conservative Friedrich Merz, has raised the alarm over European defence but the clock is ticking for him to muster the funds needed to refurbish the armed forces. According to Bloomberg News, he is in discussions to top up Germany's special defence fund with another 200 billion euros ($210 billion).
FG moves to end network blackouts, sets up committee to investigate telecoms cable cuts
Just days after major network operators warned about imminent network blackout, the federal government has set up a panel to look into possible cable cuts.
Saudi company set to own major stake in Olam Agri after $1.78bn acquisition deal
Producers of one of Nigeria's most preferred rice brand are to be acquired by Saudi Agriculture and Livestock Company (SALIC) in a multi-billion dollar deal.
German family-run machine maker issues SOS to future government
Facing a slowing German economy, high energy bills, onerous bureaucracy and the threat of US tariffs, a Black Forest-based factory equipment maker is issuing a plea for help to the country's next government. And now the company, which has about 3,700 workers worldwide, is facing the threat of US tariffs after Donald Trump's return as US president.
Indonesia agrees to terms with Apple to lift iPhone sales ban: source
The Indonesian government has agreed to terms with Apple to lift a ban on sales of the iPhone 16 model, a government source familiar with the matter told AFP on Tuesday, ending months of negotiations between Jakarta and the tech giant. The government source did not disclose any information about the terms, nor when the agreed conditions would be presented to the public.
"Recapture your entries": Customs announces changes to 4% FOB charge amid public outrage
The Nigeria Customs Service (NCS) has asked importers to recapture their entries following the cancellation of the four per cent Free-on-Board (FOB) charge.
Nigerian airlines, ground handling companies clash over 300% hike in charges
Nigerian airlines are in fisticuffs with ground handling companies over a recent hike in the charges. The airlines say that the increase will worsen operation issues
Fuel scarcity looms as petroleum marketers threaten strike over N100bn unpaid claims
Nigerians need to brace up for fuel scarcity, as the petroleum marketers have threatened to embark on strike over unpaid bridging claims. IPMAN has served a notice.
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