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 Modupe Gbadeyanka
The Transmission Company of Nigeria (TCN) has confirmed the collapse of five transmission towers along the Ikot Abasi–Eket 132kV Double Circuit Transmission Line.
This was attributed to severe acts of vandalism, as TCN disclosed that the structure collapsed after vandals removed critical structural bracing members.
The affected towers were N9, J4, N10, N11 and N12, the organisation said in a statement on Friday.
It explained that the extensive damage was discovered during a routine joint line patrol conducted on August 9, 2026, by TCN linesmen.
Further inspection revealed that structural members from seven additional towers along the same transmission corridor had also been removed and stolen. The towers, J3, N8, N13, N14, N15, N18 and N19, are now structurally compromised and pose a risk of further collapse.
TCN condemned this act of sabotage and reiterated its commitment to working hard to maintain a robust and reliable national grid.
The statement said that to mitigate the impact on electricity supply, the network has been reconfigured to prioritise supply to Ekim transmission station, leaving Ibom Power as the only station without supply.
TCN said it is mobilising an urgent intervention to complete the reconstruction of the affected sections of the line, with security agencies also notified to aid investigations and prevent further acts of vandalism along the line route.
By Adedapo Adesanya
The Speaker of the House of Representatives, Mr Tajudeen Abbas, has urged all relevant government agencies to promptly initiate actions for the full implementation of the Nigerian Ports Economic Regulatory Agency Act, 2026, following its signing into law by President Bola Tinubu.
The bill, sponsored by Speaker Abbas, was aimed at repealing the Nigerian Shippers’ Council Act, Cap. N133, Laws of the Federation of Nigeria, 2004, and establish the Nigerian Ports Economic Regulatory Agency to ensure effective economic regulation of Nigerian ports while safeguarding the interests of shippers, service providers, and users of regulated port services. With the President’s assent, it has now been enacted as an Act of Parliament.
The legislation represents one of the landmark achievements of the 10th National Assembly. It reflects the Speaker’s commitment to legislative excellence, institutional reform, and sustainable economic growth, according to a press statement by the Special Adviser on Media and Publicity to the Speaker, Mr Musa Krishi.
The bill underwent a rigorous and inclusive legislative process, including extensive stakeholder consultations and a public hearing. It was passed by both Chambers of the National Assembly and subsequently assented to by the President.
The Act provides a robust legal and institutional framework to ensure effective economic regulation of Nigerian ports by fostering transparency, competitiveness, and efficiency in port operations; protecting the rights and interests of shippers, service providers, and other port users; and aligning Nigeria’s port regulatory system with global best practices, thereby enhancing the ease and cost-effectiveness of doing business.
Despite receiving presidential assent, the Act has yet to be fully operationalised.
He warned that any further delay would undermine the legislative intent of the reform, prolong the exposure of port users to arbitrary charges and operational inefficiencies, and deny the nation the anticipated benefits of increased revenue, improved trade facilitation, and stronger investor confidence in the marine and blue economy sector.
The Speaker urged the Federal Ministry of Marine and Blue Economy, in collaboration with all relevant Ministries, Departments and Agencies (MDAs) of the federal government, to take the necessary administrative, institutional, and financial measures for the prompt implementation of the Act.
He said this should include the formal transition to, as well as operational empowerment of, the Nigerian Ports Economic Regulatory Agency to discharge its statutory mandate effectively.
The full implementation of the Act is critical to unlocking the economic potential of Nigeria’s ports, reducing the cost of doing business, strengthening trade competitiveness, and positioning Nigeria as the leading maritime and logistics hub in West and Central Africa.
The statement noted that the Speaker reaffirmed the 10th House’s commitment to exercising the necessary legislative oversight to ensure this landmark legislation, along with others assented to by the President, is fully implemented and achieves its intended goals for the benefit of the Nigerian people.
By Adedapo Adesanya
The Federal Ministry of Youth Development (FMYD), through the Nigerian Youth Academy (NiYA), has partnered with Cascador, a Nigeria-focused platform for growth-stage founders, to provide funding and support for the next generation of Nigerian youth entrepreneurs.
The announcement coincides with International Youth Day 2026, whose global theme this year — Different Contexts, Common Aspirations — calls on institutions to close the gap between young people’s circumstances and their opportunities. The pilot is an early step toward NiYA’s broader ambition to train and empower 7 million Nigerian youth within two years.
The NiYA and Cascador Founders Programme will begin with a pilot cohort of 20 early-stage Nigerian youth founders, including entrepreneurs without formal business registration or established financial records.
Over four weeks, participants will undergo intensive training focused on business fundamentals, investment readiness and pitch preparation. At the end of the programme, the eight top-performing founders will receive non-dilutive funding of up to N5 million each from Cascador, alongside an Enterprise Resource Planning (ERP) solution to help them structure, manage and scale their businesses.
The funding and support will be presented at a Pitch Day organised by NiYA and the Federal Ministry of Youth Development.
The Minister for Youth Development, Mr s Ayodele Olawande, said the partnership would enable NiYA to move beyond training by helping young people transform ideas into investable businesses and achieve sustainable economic participation through business preparation and access to capital.
“The pilot is deliberately designed to test a model that can go beyond one cohort. If young founders can be identified early, prepared properly, connected to credible capital and supported to build stronger business systems, then access to opportunity becomes less dependent on background or existing networks. That is the larger objective: to build a youth entrepreneurship ecosystem in which readiness, ideas and execution can increasingly determine who gets the opportunity to grow.”
The pilot will run in-person in Abuja with virtual touchpoints and 1:1 mentorship. All 20 graduates retain NiYA alumni status, with priority consideration for future opportunities.
NiYA and FMYD have already shown what real commitment to Nigeria’s youth looks like — the platforms, the reach, the ambition to train millions. What we’re building together now is the missing piece, a practical bridge from the ideation stage to real capital-readiness. When a Ministry so dedicated to its young people asked Cascador to help build that bridge, it was an easy decision,” said Trish Thomas, CEO of Cascador.
Ms Oyin Solebo, COO of Cascador and former Managing Director of the ARM Labs Lagos Techstars Accelerator, highlighted the partnership’s impact, saying, “This is what innovative capital deployment looks like: a government building real investment readiness at scale, and a partner meeting that foundational work with non-dilutive funding at exactly the moment it’s needed. Partnerships like this open doors that neither of us could open alone.”
