By Adedapo Adesanya

The Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, has assured investors that the country’s recent joint security operation with the United States in Sokoto will not destabilise the financial markets, but rather reinforce economic confidence.

Speaking via a statement on Sunday, Mr Edun emphasised that the operation, conducted on Christmas Day, was intelligence-led and targeted solely at terrorist elements threatening national stability and communities.

On Christmas day, the United States launched an airstrike on Islamic State West African Province (ISWAP) targets in Jabo, Sokoto State, as part of established counter-terrorism cooperation between both countries.

The strike reignited fears that had previously spooked the markets in November, when US President Donald Trump threatened military action in Nigeria.

In the statement, Mr Edun stressed that Nigeria was not at war with itself or any other country, and that the action is part of ongoing efforts to safeguard citizens and protect economic activity.

“The operation in question was precise, intelligence-led, and focused exclusively on terrorist elements that threaten innocent lives, national stability, and economic activity. Far from destabilising markets or weakening confidence, such actions strengthen the foundations of peace, protect productive communities, and reinforce the conditions required for sustainable growth. Security and economic stability are inseparable; every effort to safeguard Nigerians is, by definition, pro-growth and pro-investment,” he said.

He also underscored Nigeria’s solid macroeconomic performance, noting GDP growth of 3.98 per cent in the third quarter of 2025, following a 4.23 per cent expansion in Q2, adding that inflation has continued its downward trend for the eighth consecutive period, falling below 15 per cent reflecting improving price stability.

“Our financial markets remain resilient. Domestic and international debt markets are stable and functioning efficiently, supported by prudent fiscal management. Over the past year, Nigeria has received credit rating upgrades from Moody’s, Fitch, and Standard & Poor’s—clear, independent endorsements of the strength of our reforms and the credibility of our economic direction. We have maintained fiscal discipline, prioritised efficiency, and protected macroeconomic stability—demonstrating resilience in the face of external shocks,” he noted.

“As President Bola Tinubu noted in his address last week, our overarching objective for 2026 is to consolidate the gains of 2025, strengthen Nigeria’s economic resilience, and continue building a sustainable, inclusive, and growth-oriented economy.

“The actions we take today—on security, reforms, and fiscal discipline—are aligned with that goal. As markets reopen on Monday, 29 December 2025, investors can be confident that Nigeria remains focused, reform-driven, and committed to stability. The fundamentals are strengthening, the policy direction is clear, and the resolve of this administration—to protect lives, secure prosperity, and grow the economy—is unwavering.”

By Adedapo Adesanya

The chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bashir Ojulari, has said the country would begin to export gas from the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) pipeline from early 2026.

First conceived in 2008, the AKK pipeline is central to Nigeria’s ambition to leverage its vast gas reserves for economic growth. Its completion could transform the north, where chronic power shortages and a lack of energy infrastructure have stifled manufacturing for decades.

Speaking after briefing President Bola Tinubu on Sunday, he noted that the company has completed welding the main line of the pipeline, including the critical River Niger crossing which has stalled progress for years.

He said the milestone has cleared the way for connecting the pipeline early next year, noting that once activated, the project will “bring gas in its full form into the northern part of Nigeria.”

“This is not just about energy,” Mr Ojulari said, “It’s about industrialisation – fertiliser plants, power generation, and gas-based industries in Kaduna, Kano, Abuja, and Ajaokuta. We expect to see industrial parks spring up.”

Mr Ojulari also revealed NNPC’s production targets: oil output is expected to rise to 1.8 million barrels per day in 2026, up from about 1.7 million this year, while gas production will continue to climb, crediting structural reforms under the Petroleum Industry Act for enabling NNPC to operate as a profit-driven company, no longer reliant on federal allocations.

He said President Tinubu reaffirmed his push for $30 billion in new investments by 2030 and oil output of 2 million barrels per day by 2027, adding that upon completion, the pipeline network will deliver economic opportunities, boost power supply, and drive national industrialisation, ushering in a new era of energy and economic security for the country.

The AKK Gas Pipeline, spanning over 614 kilometers, is designed to deliver natural gas to power plants, industries, and CNG facilities, providing a major boost to Nigeria’s energy infrastructure and positioning the country as a regional energy hub.

By Modupe Gbadeyanka

The planned implementation of the new tax laws from Thursday, January 1, 2026, will not be reversed, the federal government has emphasised.

This emphasis was made amid controversies over discrepancies in the harmonised and gazetted copies of the laws.

A lawmaker in the House of Representatives, Mr Abdussamad Dasuki, raised this alarm last week during plenary.

He said parts of the laws passed by the National Assembly were different from the gazetted, calling on the leadership to look into this.

In June 2025, President Bola Tinubu signed the four tax-related bills in law as part of his government’s reform programme

The new tax laws are the Nigeria Revenue Service (Establishment) Act, the Joint Revenue Board of Nigeria (Establishment) Act, the Nigeria Tax Act, and the Nigeria Tax Administration Act.

Addressing newsmen after a meeting with Mr Tinubu in Lagos on Friday, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, stressed there were no plans to suspend the implementation of the laws from next Thursday, despite calls for this.

However, he welcomed the decision of the House of Representatives to investigate the matter, stressing that the federal government is ready to work with the National Assembly if any action becomes necessary, but maintained that the reform timeline remains unchanged.

Mr Oyedele explained that the reforms are aimed at providing relief to Nigerians and stimulating economic growth rather than generating immediate revenue, noting about 98 per cent of workers would either pay no personal income tax or pay less, while 97 per cent of small businesses would be exempted from corporate income tax and VAT withholding tax.

He added that large businesses would also benefit from lower effective tax rates, noting that the reforms are designed to promote inclusivity, shared prosperity and improved tax compliance.

The tax expert said preparations for the reforms began in October 2024 when the bills were first submitted to the National Assembly and have continued through capacity building, system upgrades and stakeholder sensitisation since the laws were signed in June 2025.