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 Aduragbemi Omiyale
The Managing Director of Commercial Inclusion (Interswitch Inclusio), Mr Muyiwa Asagba, has stressed the importance of businesses adopting the e-invoicing system, saying it will mark a defining moment in Nigeria’s economic and digital transformation journey.
“The introduction of the e-invoicing system represents a pivotal moment in Nigeria’s journey toward a more transparent and digitally enabled economy,” he said at the second Nigeria Revenue Summit (NRS) in Lagos in March 2026.
“At Interswitch, we see this not just as a compliance requirement, but as an opportunity for businesses to strengthen their operational efficiency and build resilience.
“Our focus is on providing the infrastructure and support that allow organisations to integrate seamlessly, comply confidently, and ultimately unlock greater value from their systems,” Mr Asagba added.
The event, tagged Winning in Nigeria’s New Tax Landscape, brought together business leaders and tax experts, who called for accelerated readiness among Nigerian companies as the country moves closer to implementing the e-invoicing system, describing the shift as both a regulatory requirement and a strategic opportunity for businesses.
The programme, put together by Interswitch, focused on the growing urgency for businesses to move beyond awareness and begin practical implementation, as e-invoicing introduces a shift from periodic reporting to real-time transaction validation and monitoring.
The chairman of the Nigeria Revenue Service (NRS), Mr Zacch Adedeji, represented by the Director for Policy Advisory Group, Mr Sunday Okeowo, emphasised the broader economic significance of Nigeria’s tax reforms.
He noted that the reforms present a critical opportunity to not only enhance revenue generation but also address key socio-economic challenges such as inflation, unemployment, and poverty.
Mr Adedeji described the evolving tax regime as “a bridge to a Nigeria that is a regional, continental and global hub for business and commerce,” adding that effective implementation would deliver shared prosperity for all Nigerians.
At a panel session moderated by the Divisional Head of Tax Management at Interswitch, Ms Titilayo Akinseye, speakers identified integration complexity, internal alignment across departments, and delayed decision-making as key barriers, warning that slow adoption could expose businesses to transaction disruptions, increased audit scrutiny, and inefficiencies in financial reporting.
At the same time, they noted that early adopters stand to benefit from improved transparency, automation, and operational efficiency.
By Adedapo Adesanya
The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) has called for a specialised supplier license to allow it to supply products under specific conditions.
The association made the appeal when its leadership paid a courtesy visit to the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Saidu Mohammed.
NOGASA National President, Mr Benneth Korie, called for regulatory adjustments to reflect the operational realities of suppliers in the sector.
He appealed for “the introduction of a supplier licence tailored to the specialised operations of the Association and its members,” noting that such a framework would enhance efficiency and ensure “continued national connectivity and effective service delivery.
The specialised license allows companies to supply oil or gas products within a defined niche without needing a full-scale petroleum license. It will help ensure safe and efficient energy supply, encourage private sector participation, improve transparency and accountability, and promote targeted investment in gas infrastructure.
On his part, the NMDPRA boss reaffirmed the regulator’s commitment to strengthening efficiency and ensuring a level playing field across Nigeria’s downstream petroleum sector.
Mr Mohammed stressed that the authority remains focused on transparent and fair regulation.
“The authority will continue to promote a level playing field for all operators across the midstream and downstream sectors,” he said.
The engagement highlights ongoing efforts by regulators and industry stakeholders to refine policies and strengthen Nigeria’s downstream petroleum value chain.
He also commended the association’s role in sustaining petroleum product distribution nationwide, noting its contribution to national infrastructure and service delivery.
“We recognise the sustained role of NOGASA in supporting critical national infrastructure and service delivery across the country,” Mr Mohammed added, assuring that “their concerns and requests would be carefully considered in line with our regulatory mandate.”
The engagement highlights ongoing efforts by regulators and industry stakeholders to refine policies and strengthen Nigeria’s downstream petroleum value chain.
By Modupe Gbadeyanka
The Association of Professional Women Bankers Nigeria (APWBN) has named Interswitch as the winner of the Digital Finance Excellence Award.
The Digital Finance Excellence Award recognises organisations that have demonstrated outstanding leadership, innovation, and impact in leveraging technology to transform financial services and drive financial inclusion.
While receiving the award at the APWBN Marquee Event held at the Civic Centre, Lagos, the Chief Customer Experience Officer of Interswitch, Ms Oremeyi Akah, said the recognition further reinforces Interswitch’s position as a trailblazer in digital finance and its commitment to driving growth, innovation, and inclusion across the continent.
Also speaking at the ceremony themed Redefining Power – Women Shaping the Future of Finance, the Executive Vice President for Group Marketing and Communications at Interswitch, Ms Cherry Eromosele, said, “This award is a testament to Interswitch’s unwavering commitment to advancing digital finance and delivering impactful, customer-focused solutions across Africa.”
“We are particularly honoured to be recognised by APWBN, an organisation championing the advancement of women in the banking and financial services sector. At Interswitch, we believe that inclusion and innovation go hand in hand in building a sustainable financial ecosystem,” she added.
The APWBN Marquee Event 2026 featured an impressive lineup of distinguished speakers and industry leaders who shared perspectives on the future of finance in a rapidly evolving global economy and the evolving role of women in shaping the future of finance, with a strong focus on innovation, leadership, and inclusion.
The programme brought together top industry leaders, policymakers, and innovators to explore the evolving role of women in driving financial transformation.
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