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
In order to aid alternative and sustainable means of livelihood amid rising food prices and growing concerns over food security in Nigeria, the Ibese Plant of Dangote Cement Plc has handed over a state-of-the-art garri and fufu processing plant to the Kajola host community in Ewekoro Local Government Area of Ogun State.
The facility is expected to support cassava farmers and processors by improving efficiency and expanding income-generating opportunities.
According to the organisation, the project, delivered under the Community Development Agreement (CDA) with its host communities signed in 2022, is a strategic intervention aimed at boosting agricultural value addition, reducing post-harvest losses and strengthening livelihoods for rural farmers and women.
The Ibese Plant Director, Mr Ayyagari Subbaraidu, at the commissioning, said, “This project is aimed at improving cassava processing, reducing losses and creating sustainable employment for women and farmers in the community.”
He disclosed that the facility features separate garri and fufu processing units equipped with modern machinery, including a five-tonne-per-day peeling machine, hydraulic presses, frying systems, fermentation basins, solar-powered boreholes and sanitation infrastructure, adding that it will serve as a catalyst for local economic growth by enhancing productivity and supporting small-scale agribusinesses across Kajola and neighbouring communities.
The Plant Director also urged the community and the Project Governance Committee to maintain transparency in the management of the facility to ensure long-term sustainability.
The Ogun State Commissioner for Agriculture and Food Security, Mr Bolu Owotomo, who was at the unveiling of the project, said it aligns with Governor Dapo Abiodun’s vision of making agriculture a key driver of economic growth through value addition and enterprise development.
The Commissioner disclosed that “over 166,000 farmers, including more than 90,000 cassava farmers, have been registered under the Ogun State Farmers Information Management System (OGFIMS) to benefit from government interventions.”
He urged the community to safeguard the facility and assured residents of the continued support of the state government towards agricultural development and food security.
“This processing plant will strengthen the cassava value chain, improve product quality, create jobs and enhance food security while boosting farmers’ incomes,” the Commissioner stated.
By Adedapo Adesanya
The federal government has hailed the recent sanctioning of three Nigerian bureau de change (BDC) operators by the United States’ Office of Foreign Assets Control (OFAC) for alleged terrorism financing.
“The Nigeria Sanctions Committee welcomes the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC, and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC).
“These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026,” it disclosed in a statement.
It said that the naming of the three companies and six people followed extensive intelligence gathering, financial investigations, and inter-agency assessments, which established reasonable grounds to believe that the affected individuals and entities facilitated, financed, supported, or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.
“The individuals and entities added to the Nigeria Sanctions List on 18th June 2026 are Ibrahim Yakubu Ogirima (NLISWi.19), Muktar Muhammad Adamu (NLISWi.20), Adamu Chiroma (NLISWi.21), Ibrahim Abubakar (NLISWi.22), Abdullahi Umar Usman (NLISWi.23), Babangida Muhammed Adamu Hammajam (NLISWi.24), Abbal Bako & Sons Bureau De Change Limited (NLISWe.25), Generation Currency BDC Limited (NLISWe.26), Nine to Nine BDC Limited (NLISWe.27),” the statement read in part.
The federal government reiterated its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions obligations, including asset-freezing requirements, the filing of suspicious transaction reports, and the reporting of all relevant matches to the appropriate authorities.
The sanctions committee commended the work of the Federal Ministry of Justice, Office of the National Security Adviser (ONSA), Central Bank of Nigeria (CBN), Department of State Services, Economic and Financial Crimes Commission, and the Nigerian Financial Intelligence Unit for their actions to ensure that terrorist groups are denied the resources that sustain their activities.
It stated that Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system.
The committee also said that the Federal Government would continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity, and contribute to global efforts to combat terrorism and its financing.
By Aduragbemi Omiyale
A radio station, Wise FM, has been sealed by officials of the Lagos State Environmental Protection Agency (LASEPA).
The premises of the broadcast media platform, located on Ogabi Street, Meiran, Ile-Iwe Bus Stop, were shut by the state government on Tuesday, June 23, 2026, alongside other establishments across different parts of Lagos State for alleged persistent violations of environmental regulations despite repeated warnings, abatement notices, and opportunities provided for compliance.
In a statement by LASEPA, it was disclosed that the enforcement exercise was carried out in response to various environmental infractions, including noise pollution, air pollution, obstruction of official duties, and failure to comply with its directives.
As regards Wise FM, it was said that it was sealed for noise and air pollution as well as non-compliance with the Agency’s directives.
Another organisation affected, Star-View Terrace, located in Amuwo Odofin, Lagos, was shut down for noise pollution and non-compliance with the agency’s directives, while Premiership Suites, located at Akin Osiyemi Street, Off Allen Avenue, Ikeja, was sealed for non-compliance with the agency’s directives.
Speaking on the enforcement operation, the General Manager of LASEPA, Mr Babatunde Ajayi, reiterated the organisation’s unwavering commitment to safeguarding public health and ensuring a cleaner, safer, and more sustainable environment across Lagos State.
He stressed that both individuals and corporate organisations have a responsibility to comply with environmental laws and regulations, stressing that environmental protection remains a collective duty that requires the cooperation of all stakeholders.
The LASEPA boss warned that the agency would continue to intensify enforcement actions against violators in order to curb environmental nuisances and protect residents from the harmful effects of pollution.
Mr Ajayi urged residents, business owners, and operators of commercial establishments to adopt environmentally responsible practices and cooperate with regulatory authorities in promoting a healthier, cleaner, and more livable Lagos.
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