Hello and welcome! In today’s trending news stories;
1. President Bola Tinubu has signed new tax reform laws aimed at simplifying Nigeria’s tax system and boosting economic growth. Key changes include renaming FIRS to the Nigeria Revenue Service (NRS) and exempting households earning ₦250,000 or less from taxes. Essential goods, including food, healthcare, and education, are now VAT-free. The reforms, effective January 2026, are expected to ease the cost of living and improve revenue collection.
The new laws also harmonize tax policies across federal, state, and local governments, introducing a more autonomous and performance-driven national revenue agency. The reforms were praised by business leaders and lawmakers, who said the tax laws may unlock investment, close revenue gaps, and support long-term national development.
2. FCT Minister Nyesom Wike is facing allegations of allocating over 2,000 hectares of Abuja’s prime land, valued at $3.6 billion, to a company allegedly linked to his son, Joaquin Wike. An investigative report by The Peoples Gazette claims that Wike bypassed civil service rules, issued certificates of occupancy himself, and waived key fees, including ground rent and survey charges.
The company in question, JOAQ Farms and Estates Ltd., was reportedly incorporated in October 2024 and began receiving land allocations shortly thereafter, including plots reclaimed from private owners and diplomatic missions, such as the Austrian Embassy.
In response, Wike’s media aide, Lere Olayinka, denied the claims, calling them “blackmail.” He admitted the company was allocated land but insisted it was only for farming in Bwari, not in high-value areas like Maitama or Asokoro. The controversy has triggered public backlash, especially as reports surface that the FCT under Wike is struggling to pay staff salaries, raising further concerns about mismanagement and abuse of power.
3. The prolonged political crisis in Rivers State appears to be coming to an end, as FCT Minister Nyesom Wike and suspended Governor Siminalayi Fubara have agreed to reconcile and work together. Speaking after a reconciliation meeting with President Bola Tinubu at the Presidential Villa on Thursday evening, Wike confirmed that all parties, including suspended lawmakers, had resolved their differences.
Wike described the outcome as a return to unity within their political family. Fubara stated that peace is returning to the state, as past disagreements have been resolved. President Tinubu had earlier suspended Fubara, his deputy, and the Rivers Assembly, even appointing a caretaker to manage the state. Questions about when the suspension will be lifted remain unanswered.
4. Under Nigeria’s new tax laws, households earning ₦250,000 or less monthly will be classified as poor and exempt from paying taxes, according to Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. Speaking after President Tinubu signed four tax bills into law, Oyedele clarified that the reforms, effective from January 2026, aim to reduce the tax burden on low- and middle-income earners while enhancing compliance among high earners and curbing tax evasion.
He explained that the reforms are designed to stimulate economic growth, protect small businesses, and ensure fairness by “not taxing poverty.” The committee’s poverty threshold was based on a typical Nigerian household of five supported by two income earners. Those earning between ₦1.8 million and ₦2 million monthly will see tax reductions, while high-income earners may experience slight increases. Oyedele also revealed that Nigeria currently collects only 30% of its potential tax revenue, and the reforms seek to close this significant gap.
5. A tricycle rider in Aba, Abia State, Lucky Okoro, has been widely praised for his honesty after returning ₦4 million a passenger accidentally left in his vehicle. The incident, captured in a viral video, shows a grateful woman from Cameroon tearfully praying for him as a crowd applauded his integrity.
Okoro shared the story on Facebook, recounting how he searched for the woman, eventually finding her distraught at Ariara Market. He returned the money and even helped her secure accommodation. Despite being mocked by some fellow tricycle riders who called him a “mugu” (fool), Okoro said he had no regrets and thanked God for the opportunity to do the right thing. He added that while he needs a new tricycle, he would never consider taking someone else’s money to solve his problems.
6. Cristiano Ronaldo has extended his contract with Saudi club Al Nassr until 2027, where he also serves as the team’s captain. The announcement was made on Thursday, with Ronaldo pictured holding a “2027” jersey alongside Al Nassr Chairman, Abdullah Almajid.
In a post on his official X account, Ronaldo expressed enthusiasm for the next chapter, saying, “Same passion, same dream. Let’s make history together.” Al Nassr described the extension as a significant step in the club’s growth and the Saudi Pro League’s push for global relevance. Ronaldo’s renewed stay is expected to elevate the league’s international profile further.
