Economy
Adedeji Alerts Security Agencies to Planned Tax Law Protests
By Adedapo Adesanya
The Chairman of the Nigeria Revenue Service (NRS), Mr Zacch Adedeji, has asked security agencies to be on alert over planned nationwide protests against the new tax laws, which have officially commenced.
“I’m using this time to call all the security agencies to be on alert,” he said while speaking in an interview on Arise Television on Sunday.
The NRS chief stressed that the reform was for the interest of the poor, but met strong opposition from certain quarters, warning that those pushing anti-tax agitations are unpatriotic elements determined to derail the country’s fiscal reforms.
“Those people you see promoting all this rumour, all this misinformation are those people that are avoiding taxes, that there is no way out for, based on the digitalisation that we brought on board,” he said.
Business Post reports that the National Association of Nigerian Students (NANS) declared January 14, 2026, as a National Day of Action to protest the planned implementation of the controversial tax reform laws, accusing the federal government of ignoring public concerns and constitutional processes.
Mr Adedeji said tax reform was a clear campaign promise of President Bola Tinubu and a necessary response to what he described as a fragmented tax system that could not sustain the level of development the President envisaged.
“Tax reform is one of the promises made by Mr President from his inaugural speech,” he said. “From the beginning, he made it his point of duty that we need to start early to reform the tax system, which is the real foundation for any sustainable economy in the world.”
He recalled that the President set up a committee headed by Mr Taiwo Oyedele, which, according to him, spent a year consulting stakeholders and preparing recommendations that were then processed by the National Assembly through public hearings and regional engagements before the President assented to the bill in June 2024.
Speaking on the recent issues around the gazetted version of the Nigeria Tax Administration and Other Matters Act differed, Mr Adedeji dismissed the allegations as baseless.
“No, like I said earlier, I don’t want to delve into those rumours,” he said. “For example, all these comparisons that you are mentioning now, honestly, I don’t know where you find them because nobody, except the National Assembly, has the right to the vote book. They are the ones to give us the gazetted law as passed, which… they’ve released… as passed, which is the only thing we have.”
He insisted that the only document relevant to the NRS is the gazetted Act transmitted by the legislature.
“I don’t even need to see the harmonised bill. I don’t need to see any of those things,” he said. “The only thing I need to see is the gazetted bill, which they have given to me. All these processes are internal processes of the National Assembly, which is purely a separation of powers.”
Mr Adedeji notes that the tax authorities had no role in altering any legislation and said the executive had “no place in the law” to tamper with bills passed by parliament.
He also clarified that while the law took effect from June, some rate changes were delayed to give companies time to adjust.
By Aduragbemi Omiyale
Nigeria’s integrated agro-industrial company, Ellah Lakes Plc, significantly improved its revenue in the first quarter of 2026 to N359.49 million from N19.61 million in the same period of 2025.
The revenue growth was driven by initial harvests and sales of Crude Palm Oil (CPO), reflecting stronger commercial activity and improved pace of revenue generation as operations continue to scale.
The improved sales activity was supported by growing commercial output from its operating platform and continued focus on disciplined execution.
It was observed that while the gross profit rose to N285.35 million from N19.61 million, the operating loss moderated to N273.42 million from the N514.12 million recorded in the first quarter of last year.
“The first quarter represents another important step in Ellah Lakes’ transition into commercial execution. The stronger revenue momentum recorded during the period was supported by improved production stability, better operational uptime and more disciplined sales execution.
“Importantly, we also narrowed our operating loss year-on-year, reflecting the benefit of higher gross profit and continued cost discipline. These results provide an encouraging early indication that the business is gaining operating momentum,” the chief executive of Ellah Lakes, Mr Chuka Mordi, said.
Ellah Lakes continued to focus on scaling output, improving efficiency, and converting its agricultural asset base into stronger commercial performance.
The quarter’s results show early evidence of this transition, with revenue increasing significantly year-on-year and operating loss narrowing compared with the prior-year quarter.
“Our CPO mill is now operational, piggery operations continue to scale, and we are advancing the next stage of our processing roadmap through the planned installation of a 40 tonnes-per-day Palm Kernel Oil (PKO) mill in Q2 2026.
“In parallel, we are strengthening our operating systems and exploring technical partnerships to improve asset utilisation and execution as the business scales.
“Our focus remains on disciplined execution, prudent capital stewardship and long-term value creation for shareholders,” Mr Mordi stated.
By Adedapo Adesanya
Businesses operating in Nigeria can now register easily as the Corporate Affairs Commission (CAC) introduces a direct payment option on its portal.
A statement posted on the commission’s handle on X (formerly Twitter) on Wednesday noted that the move is aimed at streamlining registration services as well as optimising the portal for efficiency.
“The Corporate Affairs Commission (CAC) wishes to notify its esteemed customers that payments for the following filings can now be conveniently made directly on our portal via ReVOps on the Intelligent Company Registration Portal (iCRP),” it announced.
The Revenue Optimisation and Assurance Project (REV-OP) was launched last year to strengthen public financial management.
The initiative focuses on blocking revenue leakages and improving transparency across government agencies.
It is built on three pillars: transparency, efficiency, and digital transformation.
The new payment systems allow users to pay for services through ReVOps on its Intelligent Company Registration Portal (iCRP).
Before now, the previous payment structure relied on the Remita gateway, which supported debit cards, bank transfers, and branch payments.
According to the Commission, the initiative is part of efforts to improve service delivery and streamline its processes for users.
The CAC listed services now eligible for direct payment include Annual Returns Filing, Change of Business Address, Cessation of Business, Change of Name, and Change of Objects.
It added that other services, such as Change of Proprietor or Partner details, are Certified True.
The move aligns with the federal government’s broader push to digitise public finance and improve revenue collection through technology.
REV-OP enables real-time monitoring and data-driven decision-making, marking a shift toward a more technology-driven approach to government revenue systems.
By Adedapo Adesanya
Nigerians paid more to buy staple foods, including eggs, beans, and garri, in March 2026 compared with what they paid in the preceding month, according to the National Bureau of Statistics (NBS).
The agency, in its Selected Food Prices Watch report for March 2026, released on Wednesday, said that the average price of eggs (a crate of 30 pieces) on a month-on-month basis went up by 2.00 per cent from N6,007.35 in February 2026.
However, the price of the proteinous meal decreased by 20.12 per cent on a year-on-year basis from N7,670.56 recorded in March 2025 to N6,127.63 in March 2026.
Similarly, the report said that the average price of 1kg of brown beans decreased by 49.39 per cent on a year-on-year basis from N2,616.26 in March 2025 to N1,325.85 in March 2026, but on a month-on-month basis, the price increased by 1.41 per cent from the N1,307.44 recorded in February 2026. It also showed the average price of 1kg of white garri decreased by 41.19 per cent on a year-on-year basis from N1,362.96 in March 2025 to N801.4 in March 2026, and on a month-on-month basis, it rose by 1.38 per cent from the N790.62 recorded in February 2026.
The report said that the average price of 1kg of onion decreased by 19.63 per cent from N1,434.85 recorded in March 2025 to N1,153.14 in March 2026. On a month-on-month basis, 1kg of onions increased by 1,59 per cent in March from the N1,135.12 recorded in February 2026.
The report said the average price of 1kg of fresh ginger increased by 20.46 per cent from the N4,600.23 recorded in March 2025 to N5,541.25 in March 2026. On a month-on-month basis, 1kg of ginger increased by 0.61 per cent in March from the N5,507.43 recorded in February 2026.
However, it said the average price of one litre of palm oil decreased by 4.71 per cent on a year-on-year basis from N2,511.77 recorded in March 2025 to N2,393.38 in March 2026.
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