By Aduragbemi Omiyale

President Bola Tinubu has emphasised that the implementation of the new tax laws remains Thursday, January 1, 2026.

He made this declaration in a statement he personally signed on Tuesday, December 30, 2025.

The new tax laws have generated controversies, especially after a member of the House of Representatives, Mr Abdusammad Dasuki, called the attention of his colleagues to the discrepancies in the harmonised and gazetted versions.

The alterations were acknowledged by the parliament, which ordered the re-gazetting of the harmonised version.

There have been calls from various quarters, including from the opposition for the suspension of the laws and prosecution of those involved in the mess.

However, Mr Tinubu seems not to be bothered about this, as he noted in the statement today that nothing will change the commencement of the implementation of the tax laws.

Business Post reports that two of the four laws took effect on June 26, 2025, and the remaining acts are scheduled to commence on January 1, 2026.

According to the President, these “reforms are a once-in-a-generation opportunity to build a fair, competitive, and robust fiscal foundation for our country.”

“The tax laws are not designed to raise taxes, but rather to support a structural reset, drive harmonisation, and protect dignity while strengthening the social contract.

“I urge all stakeholders to support the implementation phase, which is now firmly in the delivery stage.

“Our administration is aware of the public discourse surrounding alleged changes to some provisions of the recently enacted tax laws.

“No substantial issue has been established that warrants a disruption of the reform process. Absolute trust is built over time through making the right decisions, not through premature, reactive measures.

“I emphasise our administration’s unwavering commitment to due process and the integrity of enacted laws. The Presidency pledges to work with the National Assembly to ensure the swift resolution of any issue identified.

“I assure all Nigerians that the federal government will continue to act in the overriding public interest to ensure a tax system that supports prosperity and shared responsibility,” he stated.

Recall that over the weekend, the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, stressed that the laws would take effect from January 1, 2026.

Nigeria Revenue Service (Establishment) Act, the Joint Revenue Board of Nigeria (Establishment) Act, the Nigeria Tax Act, and the Nigeria Tax Administration Act.

By Adedapo Adesanya

The Chairman of the Nigerian Exchange (NGX) Group Plc, Mr Umaru Kwairanga, has urged the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC) and other policymakers to harmonise policy frameworks in 2026.

Mr Kwairanga said clear and consistent policies on taxation, foreign exchange and cross-border capital repatriation would reduce uncertainty and boost investor confidence.

“Policy harmonisation is critical to reducing volatility and attracting sustained foreign investment,” he said while speaking with the News Agency of Nigeria (NAN) on Monday.

The NGX Chairman also called for enhanced regulatory clarity on key market levers, including capital gains tax, clearing and settlement efficiency, and disclosure standards.

“Clear rules and efficient processes will strengthen market integrity and operational confidence,” he said.

Mr Kwairanga urged regulators to promote product innovation within the capital market.

“The development of derivatives, exchange-traded products and securitised instruments will expand the investor base and improve risk management,” he said.

Mr Kwairanga advised market operators on the need for continuous investor education, saying this will broaden participation, deepen liquidity and build long-term confidence.

He disclosed operators must also invest in technology and infrastructure to improve market access, stressing that market integrity must remain paramount.

“Efficient trading platforms, settlement systems and cross-border connectivity are essential for competitiveness.

“High standards of transparency and enforcement underpin investor trust, both domestic and international,” he said.

Mr Kwairanga also advised investors and issuers to adopt long-term investment strategies as diversified, long-horizon portfolios support market depth and capital stability.

He encouraged market participants to leverage digital tools to reduce costs and enhance transparency.

Mr Kwairanga noted that strong environmental, social and governance practices were vital for attracting global capital.

“ESG and sound governance are critical for sustainable valuations,” he said.

Mr Kwairanga said the Nigerian capital market recorded a commendable performance in 2025 as he attributed the gains to reforms, stronger corporate actions and resilient market participation.

He expressed confidence that the foundations laid would position the market for greater opportunities in 2026 and beyond.

“Collaboration among investors, regulators and operators remains central to building a deeper and globally attractive capital market,” he said.

By Aduragbemi Omiyale

The board of Geo-Fluids Plc has been given approval to increase the company’s authorised share capital from N2.13 billion to N25.00 billion.

The authorisation for this was given by shareholders at the organisation’s Annual General Meeting (AGM) on Monday.

With this, Geo-Fluids can raise additional funds of up to N22.87 billion through “special placement, private placement, private placement, public offer, rights issue, extraordinary grant of shares and/or any other such methods as they deem fit either in Nigeria or internationally, on or at such dates and on such terms and conditions as shall be determined by the directors,” according to one of the resolutions passed at the gathering.

The raise in share capital would be done by creating additional 45.74 billion ordinary shares of 50 Kobo each, ranking equally with existing shares.

Geo-Fluids currently trades its stocks on the NASD OTC Securities Exchange at N6.00 per unit.

The oilfield services firm is seeking fresh funds as part of its major restructuring plan, with its eventual destination being on the Nigerian Exchange (NGX) Limited after delisting from the NASD.

Commenting on the latest development, the chairman of Geo-Fluids, Mr Jacob Esan, said, “When I assumed leadership of this company on September 1, 2018, Geo-Fluids Plc was going through a prolonged and challenging period of receivership. I am happy to report that the receivership was successfully vacated in 2023.”

“Geo-Fluids Plc stands at a new threshold in its history. The receivership is behind us, the governance structure has been restored, and the company is now repositioned to pursue new and complementary business opportunities with clarity and purpose,” he added.

Also at the meeting, shareholders approved the audited financial statements of the organisation from 2012 to 2024 fiscal years,

They also passed a resolution allotting some shares from the newly created ordinary shares to Mr Esan to appreciate him for resuscitating Geo-Fluids.