General
Obi, Atiku Slam Tinubu on Tax, Economic Policies
By Adedapo Adesanya
Former presidential candidates at the 2023 presidential election, Mr Peter Obi and Mr Atiku Abubakar, have separately slammed President Bola Tinubu on issues relating to economic conditions of Nigerians.
Mr Obi in a statement argued that taxation must be rooted in transparency, fairness, and concern for citizens’ welfare, cautioning that the ongoing controversy over the alleged manipulated tax law threatens economic growth and public trust.
Despite recent controversies, the new tax laws regime have officially kicked off.
“For the first time in Nigeria’s history, a tax law has reportedly been forged. The National Assembly itself has admitted that the version gazetted is not what was passed into law,” he said.
“Yet, citizens are being asked to pay higher taxes under this manipulated framework, without transparency, without explanation, and without corresponding benefits,” the candidate of the Labour Party in 2023 noted.
Mr Obi, who is now with the African Democratic Congress (ADC), stressed that “taxing poverty does not create wealth; it deepens hardship,” urging the government to focus instead on empowering small and medium-sized enterprises, which he said are critical for job creation, income growth, and the natural expansion of the tax base.”
“You cannot tax your way out of poverty, you must produce your way out of it,” he noted, calling for a lawful, fair, and people-centered tax system that supports production, rewards enterprise, protects the vulnerable, and restores trust between government and citizens.
“Nigeria needs a fair, lawful, and people-centred tax system, only then can taxation become a true tool for unity, growth, and shared prosperity,” Mr Obi concluded in the statement posted on his official X handle.
On his part, Mr Abubakar, a former Vice President, warned that policy failures under President Tinubu are deepening business distress, accelerating job losses, and pushing the country toward economic collapse.
In a New Year message to Nigerians, he described 2025 as “one of the most punishing years in our recent history,” marked by what he called “economic suffocation” and governance devoid of empathy.
He said the Tinubu-led administration presided over months of fiscal drift, borrowing heavily while businesses struggled to survive.
“The past year exposed, in stark terms, the incompetence and policy bankruptcy of President Bola Tinubu,” Mr Atiku said, adding that the government governed “for months without a functional budget, relying on propaganda while borrowing recklessly.”
From a business perspective, Mr Atiku, who was the candidate of the Peoples Democratic Party (PDP) in the last presidential poll, warned that the operating environment for enterprises deteriorated sharply, with small and medium-sized businesses bearing the brunt of inflation, weak consumer demand, and policy uncertainty.
“Industries shut down. Workers were sent home. Hunger spread. Suffering became normalized,” he said.
He also questioned the credibility of the government’s reform agenda, citing what he described as a scandal involving a forged tax law.
“Nothing better captures the decay of this government than the scandal of a forged tax law, shamelessly branded a ‘reform’,” Mr Atiku, who has also now defected to the ADC, said, warning that “a government that begins reform with forgery cannot end with prosperity.”
Mr Atiku further dismissed official claims of revenue performance, arguing that worsening insecurity and debt accumulation were eroding investor confidence.
“While drowning the nation in debt, the government falsely claimed to have met revenue targets,” he said, noting that kidnappings and violent crimes had disrupted livelihoods and economic activity nationwide.
He said unemployment, labour unrest and collapsing enterprises defined the year, contradicting repeated assurances of economic recovery.
“Small businesses, the backbone of job creation, are collapsing. Workers are losing jobs,” Atiku said, arguing that policies demanding sacrifice from citizens were unjustified.
He warned, however, that weak institutions and disregard for due process could undermine future economic stability and elections. “A government capable of forging or tampering with laws cannot be trusted to conduct free and fair elections in 2027,” he said.
Calling for civic engagement, Mr Atiku urged Nigerians and the business community to organize for change through democratic means. “Democracy gives the people the power to change a failing government, peacefully and decisively, through the ballot,” he said.
He concluded with a call to action: “Let us vote out hunger, insecurity, unemployment, dishonesty, corruption, abductions, lies, and propaganda. Nigeria deserves better. Nigerians deserve dignity.”
Business Post reports that both Mr Obi and Mr Atiku are planning to work with other politicians to oust Mr Tinubu in the 2027 general elections through the ADC.
By Adedapo Adesanya
Maryland Mall, one of the prominent retail and entertainment centres located in Lagos, has been put up for acquisition.
In what is shaping up to be a competitive bidding process targeted at qualified investors, the offering coordinated by Broll Property Services in partnership with Renaissance Capital Africa describes the property as a “high-yield income-generating investment” situated in a prime commercial corridor within the commercial capital.
According to details contained in the investment teaser seen by Business Post, interested investors are expected to submit expressions of interest before proceeding to due diligence and final bid submissions.
Final bid submissions are scheduled to close by 12 pm on Monday, June 30, 2026, according to the advisory firms.
The sale process is expected to attract interest from institutional investors, private equity firms, real estate funds and high-net-worth investors seeking exposure to Lagos’ commercial property market.
The mall, strategically located along a major road network in Maryland, boasts strong visibility and accessibility, factors considered critical in retail real estate performance.
The document disclosed that the facility, which hosts facilities like Genesis Cinema and Workstation, currently maintains an occupancy rate of 87 per cent and is professionally managed to maintain operational standards.
However, people who frequent the facility told our correspondent that the facility has faced several operational challenges. This development presents challenges for potential investors who will likely scrutinise factors such as tenant sustainability, operating costs, power expenses and consumer spending trends before making final commitments.
Under the outlined transaction process, shortlisted bidders will enter negotiations following due diligence and submission of financial offers.
Launched in June 2016 by Mr Akinwunmi Ambode, the then governor of Lagos State and Mr Atedo Peterside, Chairman of Stanbic IBTC, Maryland Mall boasts the largest outdoor LED screen in West Africa, under Purple Group’s management.
In 2020, the company officially rebranded the mall from Maryland Mall to Purple Maryland as part of its broader lifestyle and mixed-use real estate strategy. However, due to some macroeconomic headwinds, the company fell into a receivership in October 2023, with Mr Richard Ayodele Akintunde named the Receiver Manager.
Years ago, the management agreement between Purple Group and the receiver manager was terminated, and Broll was appointed the new Facility Manager.
By Adedapo Adesanya
The United Kingdom has reaffirmed its development partnership with Kano and Jigawa States, as part of its long-term commitment to development and reform in northern Nigeria.
The Head of Development Cooperation at the British High Commission Abuja, Ms Cynthia Rowe, recently completed high-level engagements with governors of both states as well as senior government officials and civil society leaders.
The discussions underscored the UK’s modern approach to development as a genuine partnership with Nigeria, which prioritises state-led ownership and sustainable development that delivers lasting impact through strengthening systems and partnerships grounded in investment, trade, climate financing, technical expertise and joint accountability.
According to a statement, the Foreign Commonwealth and Development Office, via the British High Commission, said Nigeria remains one of the UK’s most significant development partners, adding that the engagements underlined the strength and ambition of the bilateral relationship reaffirmed during the recent UK-Nigeria State Visit.
In Kano, Ms Rowe met with Deputy Governor Alhaji Murtala Sule Garo and senior officials, including the newly confirmed Head of Civil Service and Secretary to the State Government. The visit recognised Kano’s progress on climate finance, health system reform and private sector investment supported through UK technical assistance.
In Jigawa, she met with Governor Umar Namadi and heads of key ministries, departments and agencies. The meeting celebrated more than 25 years of UK-Jigawa partnership, one of the most longstanding bilateral development relationships at the subnational level in Nigeria. Discussions covered the state’s continued progress on health systems reform, agriculture, and governance and the path forward under UK technical assistance.
Since 2022, PLANE has supported Kano, Kaduna and Jigawa to strengthen state-led education delivery systems, working through Ministries of Education, SUBEB and key agencies. Its RANA+ foundational learning packages have reached 1.4 million pupils across the three states, alongside wider system strengthening.
Speaking on this, Ms Rowe said, “For more than 25 years, we have worked side by side with state governments, including Jigawa and Kano states, their communities, and civil society to build stronger health systems, improve learning outcomes for millions of children, support farmers to grow their businesses, and help states attract the investment they need to thrive.
These visits have reinforced our confidence in what this partnership can achieve. We are working together to deliver lasting change, and deepening a relationship built on genuine mutual respect and shared ambition for Nigeria’s growth and development.”
By Adedapo Adesanya
The Nigerian Meteorological Agency (NiMet) has signed a Memorandum of Understanding (MoU) with the Central Bank of Nigeria (CBN) on data sharing to enhance economic productivity.
This was done at a meeting at CBN Head Office in Abuja, where the weather body led by its Director General, Mr Charles Anosike, on Wednesday, highlighted the importance of integrating weather and climate data into economic research, especially in sectors such as agriculture, energy, and transportation.
He noted that extreme weather events can reduce agricultural productivity and threaten food security.
He added that the collaboration aligns with the Renewed Hope Agenda of President Bola Tinubu, which prioritises food security through major agricultural investment, including the cultivation of 10 million hectares of land and the distribution of mechanised equipment.
Mr Anosike cited a 2026 World Bank report that showed that extreme weather driven by climate change is significantly affecting global food security, with more than 87 million people facing hunger in East and Southern Africa and 52 million in West and Central Africa.
He also referenced the latest Berkeley Earth Report, which projects that 2026 is likely to be the fourth warmest year on record, a trend that continues to shape agricultural and energy market projections.
In his remarks, Mr Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate of the CBN, said the signing of the MoU marked an important step in strengthening the partnership between two key national institutions whose mandates intersect in data, research, and policy support.
He emphasised that, in an increasingly complex and dynamic economic environment, timely and reliable data remain essential for effective policy decisions.
According to him, the Economic Policy Directorate relies heavily on timely and credible statistical information from NiMet, saying that such data are critical for inflation monitoring, agricultural sector assessment, and broader economic policy advisory functions.
He described the initiative as both timely and important, adding that strong institutional partnerships are essential for strengthening evidence-based policymaking and improving the robustness of national data systems.
At the close of the event, Mr Anosike and Mr Sani Abdullahi signed the MoU on behalf of their respective institutions.
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