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BREAKING: Nigeria Governors Agree on No VAT, CIT Increase For Now

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Nigeria Governors Forum (NGF) agreed at the end of subnational meeting today in Abuja that there should be “No hike in VAT, and  No reduction in corporate Income tax  CIT) for now. This is to maintain economic stability. 

This is disclosed in a communique issued today and signed by Abdulrahman Adbdulrazaq, Chairman of the NGF & Governor of Kwara State.

The governors, at the end of a meeting of subnational consultations and engagement, on Thursday in Abuja, with the Chairman of Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele,  said that the Forum have also  endorsed a revised VAT sharing formula to ensure equitable distribution of resources of 50% based on equality, 30% based on derivation, and 20% based on population.

The governors have resolved that there should be no increase in the VAT rate or reduction in Corporate Income Tax (CIT) at this time in order to maintain economic stability.

Also, they have called for the continued exemption of essential goods and agricultural produce from VAT as that would help safeguard the welfare of citizens and promote agricultural productivity.

They also, at the end of the meeting, recommended that there should be no terminal clause forTertiary Education Trust Fund, TETFUND; National Agency for Science and Engineering Infrastructure, NASENI, and National Information Technology Development Agency, NITDA, in the sharing of development levies in the bills.

The meeting supports the continuation of the legislative process at the National Assembly that will culminate in. the eventual passage of the Tax Reform Bills.

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Homicide: Killer husband on the run for alleged murder of wife

Ayobami Ayanwale was allegedly stabbed to death in front of her children by her husband.

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Tragedy struck at number 21 Olutayo Alao Street, River Valley Estate, mainland Lagos.

A mother of three simply identified as Ayobami Ayanwale was allegedly stabbed to death in front of her children by her husband.

Eye-witness neighbours who confirmed the incident said that her body has since been deposited at a mortuary after she was pronounced dead on arrival at a hospital at Olowoora area of the community.

Following the incident, the alledged killer husband has fled, leaving the survived three children with the dead wife’s elder brother at Akute.

The case was reported to Adigboluja Police station Ojodu-Abiodun.

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Armed Forces Celebration and Remembrance Day on January 15

The Director Defence Information (DDI), Maj Gen Samaila Uba, disclosed this emphasising that the redesignation was to reflect the dual dual essence of the occasion in honouring the living while also acknowledging the fallen heroes.

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Previously known as ‘Armed Forces Remembrance Day‘, the name has been officially changed to ‘Armed Forces Celebration and Remembrance Day.’

The Director Defence Information (DDI), Maj Gen Samaila Uba, disclosed this emphasising that the redesignation was to reflect the dual dual essence of the occasion in honouring the living while also acknowledging the fallen heroes.

“January 15 is set aside annually by the Federal Government of Nigeria to honour the living personnel of the Armed Forces of Nigeria (AFN) while acknowledging the sacrifices of those who have paid the supreme price to safeguard the nation’s territorial integrity as well as the lives and properties of its citizens.

He urged the media to adopt “Armed Forces Celebration and Remembrance Day” in all their future reportage.

“The AFN once again appreciates the media’s unwavering support in the fight against insecurity and looks forward to even stronger collaboration ahead, he said.

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Farouk Ahmed: Dangote Takes Petition Against Ex-NMDPRA Boss to EFCC

In the petition signed by Lead Counsel Dr. O.J. Onoja S.A.N, Dangote urged the EFCC to investigate allegations of abuse of office and corrupt enrichment against Mr. Ahmed and prosecute him if found culpable.

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  • Aliko Dangote and Farouk Ahmed when the going was good.

The Chairman of Dangote Industries Limited (DIL), Aliko Dangote, through his legal representative, has filed a formal corruption petition against former Managing Director of the Midstream Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, at the headquarters of the Economic and Financial Crimes Commission (EFCC).

This move follows the withdrawal of the same petition from the Independent Corrupt Practices and Other Related Offences Commission (ICPC), a strategic decision aimed at accelerating the prosecution process.

In the petition signed by Lead Counsel Dr. O.J. Onoja S.A.N, Dangote urged the EFCC to investigate allegations of abuse of office and corrupt enrichment against Mr. Ahmed and prosecute him if found culpable.

“We make bold to state that the commission is strategically positioned along with sister agencies to prosecute financial crimes and corruption related offences, and upon establishing a prima facie case, the courts do not hesitate to punish offenders. See Lawan v. F.R.N (2024) 12 NWLR (Pt. 1953) 501 and Shema v. F.R.N. (2018) 9 NWLR (Pt.1624)337.”

Onoja further urged the commission, under the leadership of Mr. Olanipekun Olukoyede, “…to investigate the complaint of Abuse of Office and Corruption against Engr. Farouk Ahmed and to accordingly prosecute him if found wanting”

The petition also stated that: “The commission’s firm resolve in handling this matter with dispatch is not only imperative and expedient but will also serve as a deterrent to other public officers out there with such corrupt proneness and tendencies”

The development reinforces Dangote’s unwavering commitment to transparency and accountability in Nigeria’s oil and gas sector.

It will be recalled that on December 14, 2025, Dangote raised concerns about Mr. Ahmed’s financial dealings, alleging that the former regulator is living far beyond his legitimate means.

According to Dangote, four of Mr. Ahmed’s children attended elite secondary schools in Switzerland, incurring costs running into several millions of dollars—an expenditure that raises questions about potential conflicts of interest and the integrity of regulatory oversight in the downstream petroleum industry.

Dangote listed the schools attended by Mr. Ahmed’s children: Faisal Farouk (Montreux School), Farouk Jr. (Aiglon College), Ashraf Farouk (Institut Le Rosey), and Farhana Farouk (La Garenne International School), noting that each child spent six years in these institutions.

He estimated annual tuition, travel, and upkeep per child at $200,000, totaling approximately $5 million for their secondary education.

Additionally, Dangote alleged that Mr. Ahmed spent another $2 million on tertiary education for the four children, including $210,000 for Faisal’s 2025 Harvard MBA program.

“Nigerians deserve to know the source of these funds, especially when many parents in Mr. Ahmed’s home state of Sokoto struggle to pay as little as ₦10,000 in school fees,” Dangote stated.

The petition calls for a comprehensive investigation to ensure accountability and restore public confidence in Nigeria’s regulatory institutions.

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