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12 states harmonise new tax reforms, says Oyedele

“Let us stop using consultants to collect taxes. It undermines our ability to do what is right. The new tax law says you cannot use consultants to do the routine work of the tax authority and its autonomy must be guaranteed.”

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Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms Taiwo Oyedele
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Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, says that twelve states have so far adopted tax reform and harmonised the new acts with their laws.

Oyedele disclosed this during a presentation at the National Economic Council Conference in Abuja, yesterday.

Oyedele said that besides the 12 states, 13 states have the bills in their houses of assembly, while 11 states are in the final stages of presenting the bills.

He said it was important for the states to adopt and harmonise the new tax laws with their state tax laws to avoid multiple taxation.

He advised state governors to grant their internal revenue agencies autonomy.

“Let us stop using consultants to collect taxes. It undermines our ability to do what is right. The new tax law says you cannot use consultants to do the routine work of the tax authority and its autonomy must be guaranteed,” he said.

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Enugu Air Begins London Gatwick flights From December 10, 2026

The Enugu State-owned airline will use an Airbus A330-200 leased from Portugal-based EuroAtlantic under an Aircraft, Crew, Maintenance and Insurance (ACMI) arrangement.

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Enugu Air will begin direct flights to London Gatwick on December 10, 2026, with four services weekly.

Tickets are already available for booking.

The Enugu State-owned airline will use an Airbus A330-200 leased from Portugal-based EuroAtlantic under an Aircraft, Crew, Maintenance and Insurance (ACMI) arrangement.

The service is being delivered through a strategic partnership with Omni-Blu Aviation (OBA).

The airline said the service will improve international travel connectivity for passengers departing from Lagos, Enugu and other parts of Nigeria.

Passengers from Enugu will be able to begin their international journey to London from their home airport, Akanu Ibiam International Airport.

The four weekly flights are expected to give travellers greater flexibility between Nigeria and the United Kingdom.

Enugu Air Chief Executive Officer Captain Tolu Ita said: “The commencement of our London Gatwick service reflects our commitment to expanding international connectivity and the vision of His Excellency, Governor Peter Mbah, to connect Enugu to more opportunities across the world.”

He added: “Of particular importance is ensuring that passengers from Enugu can begin their international journey to London from their home airport, Akanu Ibiam International Airport. We are proud to make the journey from Enugu to London Gatwick a reality for our passengers.”

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Naira Exchange Rates Thursday, 5 Nov 2026

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BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

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NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.

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