By Adedapo Adesanya

Crude oil eased on Monday ahead of a third round of nuclear talks between the US and Iran, and amid increased economic uncertainty after the latest US tariff upheaval.

According to data, Brent crude futures lost 27 cents or 0.38 per cent to close at $71.49 a barrel, while US West Texas Intermediate (WTI) crude futures fell 17 cents or 0.26 per cent to per barrel $66.31.

Iran has indicated its preparedness to make concessions on its nuclear programme in return for sanctions lifting and recognition of its right to enrich uranium.

The Iranian government, facing pressure at home with a growing opposition and globally with threats of a US military strike, appears ready for a third round of Omani-mediated talks with American negotiators this week.

According to reports, the Foreign Minister of Oman, Mr Badr Albusaidi, on Sunday said talks would resume on Thursday, February 26, in Geneva “with a positive push to go the extra mile toward finalising the deal” over Iran’s nuclear program.

In separate remarks, the Iranian government suggested talks in the Swiss city on that date. However, there has been no confirmation from the US officials.

The US administration has been pressuring Iran to agree to curtail its nuclear program, which Iran insists is intended for peaceful, civilian purposes, such as electricity generation. The US, along with Israel and others in the West, has accused Iran of intending to build atomic weapons.

US President Donald Trump has dispatched two aircraft carrier strike groups, with dozens of fighter jets and bombers to the region, and other military planes and supporting forces have been spotted flying into air bases in the Middle East.

President Trump said on Saturday that he would raise a temporary tariff from 10 per cent to 15 per cent on US imports from all countries, the maximum allowed under the law.

This came after a US Supreme Court ruling last week struck down key parts of President Trump’s tariff plans, rekindling uncertainty among investors and businesses.

Goldman Sachs lifted its Q4 2026 Brent forecast to $60 and WTI to $56 per barrel, citing lower-than-expected OECD stock levels.

The bank still projects a 2.3 million barrels per day surplus in 2026, assuming no major supply disruptions.

Meanwhile, the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) may resume production increases in 2026 amid limited inventory builds and shifting market dynamics.

By Aduragbemi Omiyale

The investing public has been advised to exercise due diligence before trading stocks on the Nigerian Exchange (NGX) Limited.

This caution was given by the NGX Regulation Limited (NGX RegCo), the independent regulatory arm of the NGX Group Plc.

The advisory became necessary in response to notable price movements observed in the shares of certain listed companies over recent trading sessions.

On Monday, the bourse suspended trading in the shares of newly-listed Zichis Agro-allied Industries Plc. The company’s stocks gained almost 900 per cent within a month of its listing on Customs Street.

In a statement today, NGX RegCo urged investors to avoid speculative trading based on unverified information and to consult licensed intermediaries such as stockbrokers or investment advisers when needed.

It explained that its advisory is part of its standard market surveillance functions, as it serves as a measured reminder for investors to prioritise informed and disciplined decision-making.

The notice emphasised that the Exchange will continue to monitor market activities closely in line with its mandate to ensure a fair, orderly, and transparent market.

“NGX RegCo encourages all investors to base their decisions on publicly available information, including a thorough assessment of company fundamentals, financial performance, and risk profile,” a part of the disclosure said.

It reassured all stakeholders that the NGX remains stable, well-regulated, and resilient, saying the platform continues to foster an environment where investors can participate with confidence, supported by robust oversight and transparent market operations.

“Our primary responsibility is to maintain a level playing field where market participants can trade with confidence, backed by timely and accurate information.

“This advisory is a routine communication, reinforcing that sound fundamentals, not speculation, remain the foundation for sustainable investment outcomes. We are fully committed to preserving the integrity and stability of our market,” the chief executive of NGX RegCo, Mr Olufemi Shobanjo, stated.

By Modupe Gbadeyanka

The chairman of the National Tax Policy Implementation Committee (NTPIC), Mr Joseph Tegbe, has tasked the Nigeria Revenue Service (NRS) to measure the success of the new tax laws by higher voluntary compliance rates, lower administrative costs, fewer disputes, faster resolution cycles, and stronger taxpayer confidence.

Speaking at the 2026 Leadership Retreat of the agency, Mr Tegbe said, “Sustainable revenue performance is built on trust and efficiency, not enforcement intensity,” emphasising that the legitimacy and predictability of the system are more critical than punitive measures.

He underscored that the country’s tax reform journey is at a critical juncture where effective implementation will determine long-term fiscal outcomes.

The NTPIC chief stressed that tax policy must serve as an enabler of governance, and should embody simplicity, equity, predictability, and administrability at scale.

These principles, he explained, foster voluntary compliance, reduce operational friction, and strengthen investor confidence. He warned that ad-hoc adjustments or policy drift could undermine reform momentum, unsettle businesses, and deter investment, which thrives on predictable rules rather than shifting announcements. Structured sequencing, clear transition mechanisms, and continuous feedback between policymakers and administrators are therefore critical to sustaining reform credibility.

Mr Tegbe further argued that revenue reform cannot succeed in isolation. Achieving sustainable gains requires a whole-of-government approach, leveraging robust taxpayer identification systems, integrated financial data, efficient dispute resolution, and harmonised coordination across federal and sub-national levels. This approach, he said, reduces leakages, eliminates multiple taxation, and reinforces confidence in the system.

He noted that the passage of four new tax laws marks only the beginning of a broader reform agenda, describing the initiative as a systemic recalibration of Nigeria’s fiscal architecture, rather than a routine policy update.

He further asserted that the true measure of success will be the credibility of implementation, not the design of the laws themselves.

The NRS, he noted, functions as the nation’s “Revenue System Integrator,” with outcomes reflecting the strength of an interconnected ecosystem that encompasses policy clarity, enforcement consistency, digital infrastructure, dispute resolution efficiency, and intergovernmental coordination.