The United States military has reportedly prepared contingency plans for potential airstrikes in Nigeria after President Donald Trump directed the Pentagon to “prepare to intervene” to shield Christians from terrorist assaults, according to The New York Times.
The newspaper reported on Wednesday that U.S. Africa Command had submitted multiple operational blueprints to the Department of War after Secretary Pete Hegseth ordered strategies aligned with Trump’s directive.
Insiders familiar with the talks revealed that the classified proposals labeled “heavy,” “medium,” and “light”, detailed varying degrees of U.S. involvement in Nigeria.
The “heavy option” would station an aircraft carrier strike group in the Gulf of Guinea, supported by fighter jets or long-range bombers to strike militant strongholds in the north.
The “medium option” calls for MQ-9 Reaper and MQ-1 Predator drones to conduct pinpoint attacks on insurgent camps, convoys, and vehicles, guided by real-time U.S. intelligence.
The “light option” focuses on sharing intelligence, providing logistics, and conducting joint missions with Nigerian forces against Boko Haram and other Islamist factions blamed for massacres, kidnappings, and church bombings.
Senior Pentagon leaders cautioned that limited airstrikes or drone operations cannot end Nigeria’s protracted insurgency without a full-scale invasion akin to Iraq or Afghanistan, an option Washington is not pursuing.
Days earlier, Trump posted on Truth Social, ordering the U.S. War Department to ready possible operations in Nigeria.
He charged the Nigerian government with ignoring what he termed widespread slaughter of Christians.
Trump threatened to cut off all U.S. aid and support to Nigeria unless the attacks cease.
He also signaled that America could launch military action to eradicate what he labeled “Islamic terrorists” behind the violence.
“If the Nigerian Government continues to allow the killing of Christians, the U.S.A. will immediately stop all aid and assistance to Nigeria, and may very well go into that now disgraced country, ‘guns-a-blazing,’ to completely wipe out the Islamic Terrorists who are committing these horrible atrocities,” Trump wrote.
He added, “I am hereby instructing our Department of War to prepare for possible action. If we attack, it will be fast, vicious, and sweet, just like the terrorist thugs attack our CHERISHED Christians! WARNING: THE NIGERIAN GOVERNMENT BETTER MOVE FAST!”
China on Tuesday declared its backing for Nigeria and warned against foreign meddling under the guise of religion or human rights.
“As Nigeria’s comprehensive strategic partner, China firmly opposes any country using religion and human rights as an excuse to interfere in other countries’ internal affairs, and threatening other countries with sanctions and force,” Chinese Foreign Ministry spokesperson Mao Ning stated in Beijing.
Trump’s Threat: U.S. Military Prepares Nigeria Airstrike Blueprints
OPEC Urges Nigeria To Stop Crude Oil Exports
The Chairman of the OPEC Board of Governors for 2025 has urged Nigerian oil producers to shift focus from exporting crude oil to expanding domestic refining and driving value creation within the country.
Speaking at the Nigerian Association of Petroleum Explorationists (NAPE) Pre-Conference Workshop in Lagos on Wednesday, Adeyemi-Bero, who also serves as the CEO of First Exploration & Petroleum Development Company, said Nigeria must break away from decades of exporting raw crude and instead retain value in the local economy.
He explained, “We’ve been an oil and gas exporting country. We produced oil; once there was oil, we put it in a tank and sent it abroad. 40 or 50 years later, people blame Shell and others, but I don’t.
They are businesses looking for feedstock for their industrialisation. If you give it to them, they’ll still take it.” Adeyemi-Bero stressed that Nigeria has a responsibility to process its energy resources domestically and use them to drive industrial development.
He added that the presence of the Dangote refinery was critical, noting that fuel subsidies might have been reinstated without it due to the lack of local petroleum product supply.
He continued, “This message is saying, We need to decline exports,” highlighting how countries like Saudi Arabia, the UAE, Qatar, Malaysia, and Brazil have expanded and retained their value chains.
According to him, local refining would not only boost GDP but also strengthen the naira, saying, “If we can sell some oil in naira, let’s do it if it works for both parties… the day you can pay for oil in naira because both parties agree, it strengthens the naira.”
Adeyemi-Bero warned that Nigeria must reduce dependency on crude exports or risk long-term economic setbacks. “We need to shift from being export-driven to value-driven. If we don’t do this over the next decade, we have failed,” he said.
He urged local operators to take full ownership of the sector’s future, emphasizing that international oil companies had played their role and that the responsibility now rests on Nigerians.
He underscored the central role of oil and gas in achieving Nigeria’s ambition of becoming a $1tn economy, stating, “Energy access and security is a must… without electricity, without fuel, the economy is not going to grow.”
Adeyemi-Bero also challenged industry players to drive Nigeria’s energy transformation: “The baton has been placed in our hands… We must use ours to step up as a country.”
Earlier, NAPE President Johnbosco Uche highlighted the importance of the pre-conference workshop, noting that this year’s theme ‘Revitalising the Nigerian Petroleum Exploration and Production Strategies for Energy Security and Sustainable Development’ reflects the need for urgent industry-wide action.
He stressed that Nigeria must increase production to reach its three million barrels-per-day target while maintaining sustainability and technical excellence.
Brugge’s Own Goal Lights Up Champions League Drama as Giants Falter and Underdogs Rise
It was one of those nights the Champions League was made for, full of chaos, comebacks, and pure football theatre. From a wild 3–3 draw in Bruges to a masterclass in Manchester, November 5th delivered another reminder that in Europe’s top competition, reputations mean little once the whistle blows.
Barcelona’s Rollercoaster in Bruges
The night’s headline drama came in Belgium, where Club Brugge and FC Barcelona shared six goals in a breathless 3–3 draw. The hosts, stung by a heavy defeat to Bayern Munich a week earlier, responded with passion and precision — and a touch of luck.
An early own goal from a Brugge defender handed Barcelona an unexpected advantage, but the Catalans struggled to maintain control. The Belgian champions struck back twice within the opening 20 minutes, capitalising on defensive lapses from Barça to turn the match on its head.
Barcelona, fresh from a 6–1 demolition of Olympiacos, seemed set for another comfortable win after regaining their attacking rhythm in the second half. Goals in the 61st and 77th minutes showed their intent, but Brugge’s spirited equaliser in the 63rd kept the contest alive until the very end.
In truth, both sides could have won it, and both had reason to feel frustrated. Barcelona dominated possession but lacked sharpness in transition. Brugge, buoyed by their home crowd, proved that heart and hunger can level any tactical advantage.
City’s Ruthless Precision Destroys Dortmund
While chaos reigned in Bruges, Manchester City were their usual efficient selves. Pep Guardiola’s men brushed aside Borussia Dortmund 4–1 at the Etihad, showcasing why they remain favourites to retain their European crown.
Phil Foden was the star of the show with two expertly taken goals, while Erling Haaland continued his relentless scoring run against his former club. City’s movement and intensity overwhelmed Dortmund, who simply couldn’t keep pace. For Guardiola, it was another tactical masterclass; for Dortmund, a painful reminder of the gap between good and great.
Atalanta’s Late Heroics Break Marseille Hearts
Over in Italy, Atalanta produced one of the night’s most dramatic finishes. Locked at 1–1 with Marseille deep into stoppage time, the home side snatched a 2–1 victory with a deflected shot that sent the Gewiss Stadium into pandemonium.
It was a cruel ending for Marseille, who had played bravely and seemed destined for at least a point. Instead, Gian Piero Gasperini’s side grabbed all three, tightening their grip on a potential knockout berth and leaving Marseille’s campaign hanging by a thread.
Leverkusen Grind Out Victory, Newcastle Shine at Home
In Lisbon, Bayer Leverkusen edged Benfica 1–0 in a cagey contest defined by discipline rather than drama. Patrik Schick’s first-half goal was enough to secure all three points, while Benfica’s misfiring attack once again failed to deliver.
Back in England, Newcastle United impressed with a confident 2–0 win over Athletic Club. Eddie Howe’s men looked composed, clinical, and determined to prove that last season’s European run was no fluke.
The New Format, the Old Tension
This season’s expanded league-style Champions League format means every match carries extra weight, and every goal, even an own goal, can shift the standings dramatically. With 36 teams battling for the top eight automatic spots, fine margins have never mattered more.
Wednesday night underscored that reality. City continue to set the pace, Leverkusen and Atalanta are quietly climbing, while traditional powerhouses like Barcelona and Benfica face mounting pressure.
The Takeaway
From Brugge’s accidental generosity to Atalanta’s last-gasp joy, this round had everything, goals, grit, and the glorious unpredictability that defines the Champions League.
Barcelona’s draw was a reminder that even Europe’s most elegant teams can be undone by the smallest twist of fate. For Brugge and other underdogs across the continent, it was proof that courage, not budget, often decides the night.
The Champions League remains a stage where giants stumble and outsiders rise, and on this November evening, it shone brighter than ever.
NNPCL Restates Goal To Hit 2 million Barrels Daily By 2027
The Nigerian National Petroleum Company Limited (NNPCL) reaffirmed its pledge to reach 2 million barrels per day (bpd) of oil production by 2027, urging bold global partnerships and investments to eradicate energy poverty throughout Africa.
At the “Energy Talk” session of the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) in the United Arab Emirates, NNPC Group Chief Executive Officer Bayo Ojulari delivered these remarks.
Responding to questions from the host and Pulitzer Prize-winning energy author Daniel Yergin, the GCEO underscored Nigeria’s central role in Africa’s energy landscape, declaring that NNPC serves as the cornerstone for achieving energy self-sufficiency across the continent.
He noted that NNPC has boosted Nigeria’s oil production to 1.7 million barrels per day, aiming for 2 million bpd by 2027 and 3 million bpd over the longer term, a trajectory fueled by refreshed ties with Independent Oil Companies (IOCs) and independents, the elimination of longstanding obstacles, and alignment on mutual benefits.
He reiterated the company’s dedication to collaborating with OPEC counterparts, African National Oil Companies (NOCs), and financial institutions to secure $30–$60 billion in new capital by 2030.
Ojulari highlighted that fresh government incentives, building on the Petroleum Industry Act (PIA), are already drawing funds into deep-water exploration, dry-gas projects, and cost-efficiency measures.
He showcased flagship initiatives including the revival of upstream assets through fast-tracked field development, major gas-infrastructure growth—such as the nearly finished Ajaokuta-Kaduna-Kano (AKK) pipeline and the Obiafu-Obrikom-Oben (OB3) line—and the rollout of cleaner fuels via the Presidential CNG Initiative and expanded autogas networks.
Ojulari emphasized Nigeria’s immense oil, gas, and renewable resources, pointing out that President Bola Tinubu’s Renewed Hope Agenda is steering the country from raw extraction toward a diversified, investment-friendly energy powerhouse.
“Africa’s energy future must be built on pragmatism, partnerships, and purpose. At NNPC Limited, we are not just participating in the energy transition, we are shaping it from an African perspective. Our focus is pragmatic: grow production, monetize gas, deepen partnerships, and deliver value to Nigerians and global partners alike,” Ojulari stated.
Mirroring the keynote by UAE Minister of Industry and ADNOC CEO Dr. Sultan Ahmed Al Jaber—who advocated “pragmatic, not performative” energy policies and stressed the need for $4 trillion in annual global energy investment—Ojulari called on international players to co-finance Africa’s energy evolution.
“Our message to the world is clear: Nigeria is open for business, and NNPC Limited is fit for the future and we invite the world to co-invest in Africa’s energy transformation,” he said.
NNPC declared that its participation in ADIPEC 2025 reflects its transformation into a profit-driven, globally active energy leader that powers Nigeria while helping chart the continent’s energy destiny.
ADIPEC, hosted by the Abu Dhabi National Oil Company (ADNOC) and one of the planet’s premier energy gatherings, carries the 2025 theme “Energy. Intelligence. Impact” in its 41st edition.
Days earlier, Ojulari guided a senior delegation through NNPC’s exhibition booth at ADIPEC, reinforcing the company’s resolve to forge worldwide alliances, advance energy equity, and secure sustainable capital.
Greeted by Executive Vice President, Business Services Sophia Mbakwe and other top officers, the GCEO’s tour—joined by the NNPC Board Chairman and directors—signaled cohesive leadership behind the company’s global outreach.
Ojulari also addressed a private gathering of the Global Oil Club, an elite assembly of top energy firms and institutions, where he stressed the pressing need to end energy poverty in Africa and proposed joint-investment models to de-risk infrastructure and unlock shared wealth.
“Africa’s energy future must be built on collaboration, innovation, and inclusion. NNPC Limited stands ready to co-create solutions that will deliver real impact,” the GCEO stated.
Representing NNPC further, Executive Vice President, Upstream Udy Ntia spoke at the Global Strategy Session “Beyond the Barrel: The Future of Upstream Strategy,” affirming the company’s eagerness to co-fund sector-wide breakthroughs while rapidly scaling Nigeria’s oil and gas output in step with national and regional energy goals.
FG Appoints John Nwabueze As Tax Ombudsman
The Federal Government has named Dr John Nwabueze as the Tax Ombudsman, pursuant to the Joint Revenue Board of Nigeria (Establishment) Act, 2025.
This was disclosed in a statement released by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Tuesday.
The statement noted: “The appointment aligns with President Bola Tinubu’s commitment to implementing far-reaching and sustainable reforms in the tax and revenue administration framework.”
It added: “Dr John Nwabueze, from Oshimili South Local Government Area of Delta State, brings extensive professional and public service experience to the new job.”
Before this appointment, he was Managing Partner of a leading tax advisory firm, Technical Adviser to the Joint Senate Committees on the Federal Capital Territory and Finance, and Technical Adviser to the Chief Economic Adviser to former President Olusegun Obasanjo, among other notable roles in the public and private sectors.
Dr Nwabueze earned a Doctor of Business Administration (Finance) from Walden University, Minneapolis, USA; a Master of Science in Accounting from Strayer University, Washington, D.C.; and double Bachelor of Science degrees in Accounting and Mathematics from the University of Jos, Nigeria.
President Tinubu congratulated Dr Nwabueze on his appointment and expressed full confidence in his ability to execute the duties of the office with integrity, diligence, and the highest level of professionalism.
The Office of the Tax Ombudsman has been created to bolster transparency and accountability in the tax system, boost public trust in tax administration, and establish a formal, fair, and impartial channel for resolving disputes between taxpayers and revenue agencies.
The Office will receive, investigate, and settle complaints concerning taxes, levies, regulatory fees, customs duties, excise matters, and related issues, in line with existing laws and regulations.
The Tax Ombudsman is also charged with ensuring that disputes are handled efficiently, impartially, and without confrontation, thereby protecting taxpayers from arbitrary or abusive actions by tax officials.
Africa Projected To Be Fourth-Largest Economy By 2050 – WTO
The World Trade Organisation (WTO) has projected that Africa could become the world’s fourth-largest economy by 2050 if it fully harnesses its demographic strength, natural resources, and trade potential.
WTO Director-General Ngozi Okonjo-Iweala highlighted the continent’s vast opportunities but noted that intra-African trade remains significantly more expensive than trade with other regions.
“It costs 20 per cent more for us to trade with each other on the continent than with others externally,” she said.
Okonjo-Iweala attributed this gap to factors such as poor infrastructure, inefficient border systems, and high logistics and transport costs, which continue to impede regional trade growth.
Despite these barriers, she expressed optimism about Africa’s economic prospects, pointing to its abundant resources and young, dynamic population as key drivers for long-term growth.
“The African continent has a lot of resources and a lot of things going for it. But there are also many challenges,” she said.
According to WTO data, only 18 per cent of Africa’s exports remain within the continent, compared to 60 per cent in Asia and 70 per cent in Europe. She described this imbalance as “unsustainable if Africa hopes to reach its full economic potential.”
She also noted that small and medium-sized enterprises are the most affected by high trade costs, as they often find it cheaper to export outside the continent than to neighbouring African countries.
The African Continental Free Trade Area (AfCFTA), launched in 2021 to create a unified market of 54 countries, aims to address these challenges. However, its full implementation has been gradual, with only a few nations ratifying the key protocols on services and investment.
The WTO maintains that effective execution of the AfCFTA could “boost intra-African trade by more than 50 per cent by 2030.”
“Africa is an exciting continent, despite the challenges,” Okonjo-Iweala said, adding that sectors such as renewable energy, digital innovation, and manufacturing are showing immense potential, supported by a median age of just 19.
The African Development Bank also projects that, with consistent growth and regional integration, Africa could rise to become the world’s fourth-largest economy by mid-century.
Currently, the continent holds about 30 per cent of global mineral reserves, including lithium and cobalt—key materials for clean energy technologies. However, limited local processing capacity means much of these resources are exported in raw form, minimizing value addition.
“We need to move up the value chain,” Okonjo-Iweala said.
The WTO also expressed concern over external pressures such as geopolitical conflicts and climate change, which disrupt supply chains and inflate food and energy costs. The Russia-Ukraine conflict, for instance, has raised food and fertilizer prices, while climate-induced droughts and floods continue to affect production and logistics.
Less than three per cent of global climate finance currently reaches Africa, a shortfall the WTO says must be corrected for sustainable growth.
Regional leaders have reaffirmed their commitment to the AfCFTA rollout, targeting full operation by 2027. Initiatives like the Pan-African Payment and Settlement System are also expected to lower transaction costs and reduce dependence on foreign currencies.
“Africa is not a monolith; each country has its strengths,” Okonjo-Iweala said.
She cited Rwanda’s growing tech ecosystem and Morocco’s expanding automotive industry as examples of regional diversification.
“The challenges are real, but so is the opportunity,” she added, expressing confidence that with stronger infrastructure, coordinated policies, and effective implementation of trade reforms, Africa’s economic rise could reshape global trade dynamics.
She reaffirmed the WTO’s support for Africa’s efforts to double its growth rate and assume a central role in the global economy by 2050.
Shettima Departs For Brazil To Attend COP30
Vice President Kashim Shettima left Abuja for Belém, Brazil, to represent Nigeria at the 30th United Nations Climate Change Conference (COP30), where global leaders are gathering.
Brazilian President Luiz Inácio Lula da Silva is hosting the two-day summit on November 6 and 7 in the Amazon rainforest, a setting chosen to spotlight forest preservation, biodiversity, climate justice, and tangible progress on climate goals.
For Nigeria, the trip to Belém is a high-stakes diplomatic push to unlock fresh carbon-finance streams, strengthen ties among Global South nations, and showcase the Tinubu government’s resolve for a fair energy transition.
The conference theme, “Climate Action and Implementation”, captures Africa’s core dilemma: meeting pressing development demands while honouring global emission cuts, and securing the funding to make it possible.
On his opening day at COP30, Shettima will address the leaders’ plenary, presenting Nigeria’s roadmap for adaptation funding, rainforest protection, renewable power expansion, and a maturing carbon-market strategy.
He will then take part in the rollout of the Tropical Forest Forever Fund, a global partnership designed to safeguard vital forest regions.
Shettima will also attend a presidential roundtable on Climate and Nature hosted by President Lula, followed by an evening reception for all heads of delegation.
Court Declines Sowore’s Arrest Warrant, Adjourns Defamation Case
The Federal High Court in Abuja has declined a request to issue an arrest warrant against activist and publisher, Omoyele Sowore, despite his absence at Wednesday’s scheduled arraignment on criminal defamation charges.
Sowore is standing trial alongside Meta (Facebook) Inc. and X Corporation (formerly Twitter) on a five-count charge filed by the Department of State Services (DSS), marked FHC/ABJ/CR/484/2025.
The DSS alleged that Sowore published false and defamatory statements against the agency, some of its senior officials, and President Bola Tinubu on his verified social media accounts, an act it claims violated the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.
According to the charge, Sowore allegedly posted: “This criminal @officialpbat actually went to Brazil to state that there is no more corruption under his regime in Nigeria. What audacity to lie shamelessly!” The DSS said the post was false and intended to incite unrest among Nigerians with opposing political views.
During Wednesday’s hearing, DSS counsel Akinlolu Kehinde (SAN) urged the court to issue a bench warrant for Sowore’s arrest, citing his absence and lack of legal representation as “an affront to the sanctity of the court.”
However, Justice Mohammed Umar refused the request, noting that X Corporation had yet to be formally served with the charge sheet, though it had received a hearing notice.
The judge ordered that all parties be duly served before the next sitting and adjourned the case to December 2, 2025, for arraignment. Counsel for Meta, Tayo Oyetibo (SAN), and X Corporation’s lawyer, Christabel Ndiokwelo, both confirmed receiving notices but not the formal charges.
Justice Umar emphasized proper service as a prerequisite for fair hearing before further proceedings continue.
Ex-Presidential Chief Of Staff Mohammed Passes Away At 86
Major General Abdullahi Mohammed (retd.), former Chief of Staff to ex-Presidents Olusegun Obasanjo and Umaru Musa Yar’Adua, has passed away at the age of 86. The respected statesman, who hailed from Ilorin, Kwara State, reportedly died around 1 a.m. on Wednesday in Abuja. His family confirmed the news, describing his death as “a huge loss to the Ilorin Emirate, the nation, and the military community.”
Born in 1939, Mohammed trained at the Royal Military Academy, Sandhurst, United Kingdom, and was commissioned into the Nigerian Army in 1958. He rose to become Director of Military Intelligence and played a pivotal role in the 1975 coup that brought General Murtala Mohammed to power. Following the coup, he was appointed Governor of Benue-Plateau State and later became Director-General of the National Security Organisation (NSO), the precursor to the DSS.
After retiring in 1979, he ventured into business before returning to public service in 1998 as National Security Adviser to General Abdulsalami Abubakar. He went on to serve as Chief of Staff to Presidents Obasanjo and Yar’Adua, the first and longest-serving in that position.
The Ilorin Emirate Descendants Progressive Union (IEDPU) mourned his death, describing it as “a monumental loss to the Ilorin Emirate and Nigeria at large.” The union hailed him as “the first son of Ilorin to serve as a state governor and the first to attain the rank of a two-star General in the Nigerian Armed Forces.”
It added, “General Mohammed played critical roles in Nigeria’s history. He was a patriot who fought to keep the country united and later served as National Security Adviser and the first and longest-serving Chief of Staff to the President.”
Condolences poured in from President Bola Tinubu, former Presidents Obasanjo and Abdulsalami Abubakar, Governor AbdulRahman AbdulRazaq, and the Emir of Ilorin, Alhaji (Dr) Ibrahim Sulu-Gambari. The IEDPU prayed for Allah’s mercy upon the late General, asking that he be granted Aljanat Firdaus and that his family find strength to bear the loss.
What You Should Know About Nigeria’s 50 New Tax Exemptions
Starting January 1, 2026, Nigerians, particularly low-income earners, small businesses, and average taxpayers, will begin to enjoy a wide range of tax waivers and reliefs under the new tax reform laws introduced by the Federal Government.
The Presidential Fiscal Policy and Tax Reforms Committee, chaired by Taiwo Oyedele, released a breakdown of 50 specific tax exemptions and relief categories designed to ease the financial burden on individuals and businesses, while promoting growth and inclusion in the economy.
Personal Income Tax / PAYE — Who Won’t Pay Income Tax
Certain income levels and categories will now be fully exempt or enjoy significant reliefs:
1. Workers earning the national minimum wage or less — exempt
2. Individuals earning up to ₦1.2 million annually — exempt
3. Individuals earning up to ₦20 million yearly — eligible for relief
4. Gifts received are not taxable
Deductions That Reduce Tax (Before PAYE)
Taxpayers can now deduct key personal expenses before tax is calculated:
5. Pension contribution
6. NHIS contribution
7. National Housing Fund contributions
8. Interest on home ownership loans
9. Life insurance or annuity payments
10. Rent relief up to ₦500,000 or 20% of annual rent
Pension and Retirement Income — Fully Exempt
Retirement-related funds and benefits are protected:
11. Pension funds and assets
12. Pension, gratuity, and retirement benefits
13. Job loss compensation up to ₦50 million
Capital Gains Tax (CGT) — Reduced or Waived
Certain asset sales and gains will no longer attract CGT:
14. Sale of personal homes
15. Sale of personal items up to ₦5 million
16. Sale of up to two private cars yearly
17. Small share transactions under ₦150m / ₦10m — exempt
18. Reinvested share gains — tax-free
19. Pension funds, charities, and religious bodies (non-commercial) — exempt
Companies Income Tax — Boost for Small Businesses
To support job creation and innovation:
20. Small companies (≤ ₦100m turnover) — no CIT
21. Labelled startups — exempt
22. Employers that raise salaries for low-income workers get deductions
23. Employers that hire and retain staff for 3 years get additional relief
24. Agric-based companies — 5-year tax holiday
25. Venture capital investors in startups — exempt
Development Levy — Waived for Small Firms
26. Small businesses are not required to pay this levy
Withholding Tax (WHT) — Reduced for Small Enterprises
27. Small companies, manufacturers, and agric businesses — exempt
28. Payments to suppliers by small companies — exempt
Value Added Tax (VAT) — Zero on Essentials
Essential goods and services remain VAT-free or zero-rated:
29. Basic food items,
30. House rent,
31. Education,
32. Healthcare
33. Pharmaceuticals,
34. agricultural inputs, and equipment hire
35. Diesel, petrol, solar equipment
Disability aids, baby products, sanitary items
Public transport, electric vehicles, humanitarian relief items
Small companies (≤ ₦100m turnover) — not required to charge VAT
Buying/selling land and buildings — VAT-free
VAT refunds allowed for production capital purchases
Stamp Duty — Removed for Small Transactions
To encourage financial inclusion and ease digital transactions:
46. Electronic transfers below ₦10,000 — exempt
47. Salary payments and intra-bank transfers — exempt
48. Transfers within the same bank — exempt
49. Transfers of government securities and shares — exempt
50. Documents for share transfers — exempt
These 50 exemptions and relief measures form part of Nigeria’s 2024–2026 Fiscal Roadmap, set to take effect from January 2026, marking a major step toward a fairer and more inclusive tax system.
