General
FG Dismantles Roadside Levies Nationwide
By Adedapo Adesanya
The federal government has banned the mounting of roadblocks for the collection of taxes and levies nationwide as part of a sweeping reform of the country’s tax administration system.
It also signed a new Presumptive Tax Framework (PTF) aimed at bringing millions of small and informal businesses into the formal economy through simplified tax processes.
According to the Executive Secretary of the Joint Revenue Board (JRB), Mr Olusegun Adesokan, the new framework expressly prohibits the use of roadblocks by tax officials to collect levies, which has been heavily criticised by businesses and transport operators.
“It also bans the mounting of roadblocks for the collection of taxes,” he said.
He further disclosed that the framework outlaws cash collection by tax authorities and promotes the use of technology-driven payment systems to ensure transparency and accountability.
“Apart from encouraging the use of technology for payment of taxes and cash collection, it bans all forms of cash collection by tax authorities,” Mr Adesokan added.
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, described the PTF as a key component of the tax reform programme under the administration of Bola Ahmed Tinubu.
Mr Edun said the framework is designed to expand the nation’s tax base while protecting small businesses from excessive burden.
According to him, the presumptive tax system will rely on clear indicators such as business category and turnover levels rather than complex accounting requirements.
“The objective of presumptive taxation is not to overburden small businesses, but to provide a fair, simple and predictable framework for tax compliance,” he said.
He stressed that the government’s fiscal strategy is anchored on widening the tax net instead of increasing tax rates.
“Our fiscal strategy is anchored on expanding the tax base rather than increasing tax rates. Inclusion drives sustainability,” the minister said.
Mr Edun noted that micro and small enterprises form the backbone of Nigeria’s economy and that the framework seeks to reduce compliance costs while creating a structured pathway for them to transition into the formal sector.
He added that the regulations would provide clarity for tax authorities across the country and protect taxpayers from arbitrary assessments.
“These regulations provide clarity to tax authorities and protect taxpayers from arbitrary assessments. The system will be transparent, rules-based and nationally consistent,” he said.
He also said that strengthening non-oil revenue through a broader tax base would enhance the government’s capacity to fund infrastructure, security, social investment and economic growth.
The minister explained that the regulations were developed in collaboration with the JRB to ensure alignment between federal and state tax administrations.
Earlier, Mr Adesokan described the framework as a major step towards making the tax system fairer for ordinary Nigerians.
He said the reform reflects President Tinubu’s commitment to ensuring that the tax system supports economic growth rather than placing pressure on struggling citizens.
“This revolution is another demonstration of President Bola Ahmed Tinubu’s commitment to taxing prosperity and not poverty,” he said.
Mr Adesokan disclosed that businesses with an annual turnover of up to N50 million would be exempted from tax under the new arrangement.
“It ensures that our nano and small businesses with an annual turnover of 50 million naira are exempted from tax,” he said.
He explained that the exemption would allow small entrepreneurs to retain capital for growth before eventually entering the tax system, while other informal businesses above the threshold would be subject to a simplified turnover-based tax rate.
By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Limited on Monday said it is partnering with the African Export-Import Bank (Afreximbank) to chart a path for African energy development.
A statement by the company noted that the partnership was discussed last week, when the Group Chief Executive Officer of NNPC Ltd., Mr Bashir Ojulari, received in audience the President and Chairman of the Board of Directors of the Afreximbank, Mr George Elombi, at the NNPC Towers, Abuja.
NNPC said it set out its direction under the Enterprise First framework, positioning the company as a high-performance Partner of Choice built on execution and profitable growth.
Afterwards, both leaders agreed on a shared agenda for continental energy development and industrialisation, and to hold regular strategic sessions, the first session scheduled later in the year.
On financing, the state oil company said it led the discussion on the planned African Energy Bank (AEB), to be headquartered in Abuja, and confirmed its readiness to deepen its investment.
The Cairo-based lender was instrumental in the founding and funding of the energy bank that is soon to be operational.
Afreximbank affirmed its commitment to the company’s growth through risk-sharing, structured financing, and further refinancing to develop Nigeria’s oil and gas resources, the statement added.
By Modupe Gbadeyanka
To close Nigeria’s $158 billion funding gap for 40 million small businesses, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has joined forces with MTN Nigeria to operate a platform known as mySMEville Academy.
The aim is to reach a target of 5 million MSMEs through the mySMEville Academy, e-commerce integrations, and national policy advocacy.
The platform was created as a one-stop shop for resources, with four core areas: information, funding, infrastructure, and markets, to support a sector that contributes 48 per cent of Nigeria’s gross domestic product (GDP) but remains largely underserved.
On Tuesday, May 12, 2026, SMEDAN visited MTN’s head office alongside Angola’s INAPEM, the National Institute of Support for Micro, Small and Medium Enterprises.
Angola’s agency is studying the collaboration between MTN and SMEDAN, which led to the launch of the mySMEville partnership in November 2025.
After a pilot in Lagos onboarded 200 businesses in December, the platform rapidly grew to include over 2,600 businesses nationwide by May 2026. This rapid expansion is essential given that 80 per cent of Nigerian SMEs are currently informal and only 3.9 per cent access formal credit, leaving a staggering $158 billion annual financing gap.
Emphasising the strategic necessity of this collaboration, the Chief Enterprise Business Officer at MTN Nigeria, Ms Lynda Saint-Nwafor, said, “Our goal is simple, we want to be the best technology partner out there, helping African businesses grow fast, compete globally, and make a real, lasting impact.”
Supporting this view, the Director-General of SMEDAN, Mr Charles Odii, said the initiative represents the future of business on the continent, asserting that
“What we are witnessing here is a formidable force for economic progress. Through this deliberate Public-Private Partnership, Nigeria is aligning its public and private sectors to lead the way for Africa,” he stated.
On his part, the Senior Specialist for ICT Segment Management at MTN Business, Mr Olatunbosun Agosu, demonstrated with a live demo how the mySMEville platform, a joint effort by MTN and SMEDAN, is the “one-stop orchestrator” for Nigeria’s 40 million small businesses.
INAPEM’s Chairman, Mr Bráulio Augusto, confirmed that Angola intends to adapt the framework to its own economic reality, noting, “The key thing I learned here is the strength of the public and private sector partnership. mySMEville clearly shows what’s possible, and we will absolutely use these insights as we adapt this model back home in Angola.”
By Adedapo Adesanya
Gas marketers have expressed worries about the scarcity of Liquefied Petroleum Gas (LPG), otherwise known as cooking gas, and rising prices, with consumers paying as high as N2,000 per kg in some areas.
A press statement by the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) raised concern about the erratic supply and the hike in the price of cooking gas across the country.
According to them, while prices have gone as high, they are forced to pay as much as N26 million for 20MT of cooking gas, depending on location.
“It is sad and rather very pathetic to inform the general public that the citizens of Nigeria have woken up to buy cooking gas, which should be a social item at a prohibitive cost of over N1,500per kg, while the Marketers are made to pay as much as N25,200,000, or, depending on location, N26,200,000 for 20MT of cooking gas.
“We feel that if the situation is not immediately checked, the citizens may rise against the owners of gas filling stations.
“This sad situation has brought untold hardship to millions of Nigerian households, small businesses, food vendors, and low-income families who rely on LPG for daily cooking and livelihood.
“It is rather worrisome to state that this situation is seriously eroding the substantial progress made by the Government on the usage of Clean Energy in the country,” a part of the statement said.
NALPGAM noted that its members face challenges in sourcing LPG due to persistent supply shortages, high depot prices, logistics bottlenecks, and uncontrollable rising operational costs.
“While millions of Nigerians have embraced cooking gas as a result of the national clean energy transition agenda, it is sad to state that those gains are at risk as households are struggling to refill cylinders, small businesses are folding under rising energy costs, while many families are reverting to firewood and charcoal despite the serious implications for public health, environmental degradation, and deforestation,” it said.
The association warned that if urgent and coordinated actions are not taken immediately, the current crisis could trigger broader consequences, including accelerated food inflation, the collapse of small-scale LPG retail businesses, job losses, reduced investor confidence, and a significant setback to Nigeria’s clean energy and climate commitments.
It called on the federal government, the Ministry of Petroleum Resources, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Company (NNPC) Limited, domestic producers, terminal operators, international suppliers, and all critical stakeholders in the LPG value chain to take urgent, coordinated steps to stabilise the market before it degenerates further.
It called for immediate measures to improve the availability and accessibility of LPG nationwide, increased domestic LPG allocation to the Nigerian market, ensuring transparent and equitable distribution of available supply across regions, reduction of bottlenecks in product importation, storage, and distribution, implementation of strategic interventions to stabilise retail prices, and protection of consumers.
The marketers also called for other measures, such as investment in critical infrastructure, including storage and distribution facilities, and adoption of policies that support affordability, sustainability, and long-term growth of the sector.
NALPGAM reaffirmed its commitment to constructive engagement and collaboration with government agencies, regulators, producers, and other stakeholders to develop sustainable solutions that will guarantee an affordable, stable supply and continued growth of the LPG sector.
“In conclusion, it is apposite to state that “We cannot stand by and watch millions of Nigerian families suffer in silence while access to clean cooking energy becomes increasingly difficult and unaffordable. For years, Government and industry operators have worked to move Nigerians away from unsafe fuels. Those gains are now under serious threat”, the statement added.
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