• info@dailyoracleng.com
  • adsales@dailyoracleng.com
Sunday, 1 FebruaryWeather Icon-9.8°C
site logo

January 15, 2026

Business, News, Trending

Nigeria’s Inflation Rises to 15.15% in December 2025 – NBS Report

/

The National Bureau of Statistics (NBS) has reported that Nigeria’s headline inflation climbed to 15.15 percent in December 2025, marking the first increase in eight months.

The figures were released in the bureau’s latest Consumer Price Index (CPI) report.

According to the NBS, the CPI, which tracks changes in the prices of goods and services, rose to 131.2 in December, up from 130.5 in November 2025.

This translated to a year-on-year headline inflation rate of 15.15%, compared with 17.33% recorded in November.

The bureau explained that recent revisions to its CPI calculation methodology contributed to the December uptick. These changes were technical in nature and do not indicate a worsening of Nigeria’s overall economic conditions, the NBS emphasized.

Food inflation, which significantly influences overall inflation, saw a notable decline, falling to 10.84% in December 2025, down from 39.84% in the same month last year. The reduction was attributed to lower prices of key food items, including tomatoes, garri, eggs, potatoes, carrots, millet, vegetables, plantains, beans, wheat grain, ground pepper, and onions.

Also Read: ADC Calls Out Tinubu for Missing 2026 National Armed Forces Ceremony

The data suggests a stabilization in the cost of living, despite the headline inflation rise, and offers some relief for households as food prices ease.

News, Politics, Trending

Nigeria Removed from EU High-Risk Financial List: Boost for Trade & Investment

/

Nigeria has officially been taken off the European Union’s list of high-risk financial jurisdictions, a move expected to ease trade, streamline payment transactions, and attract more foreign investment from Europe.

The European Commission confirmed the update on Wednesday, noting that Nigeria, along with South Africa, Burkina Faso, Mali, Mozambique, and Tanzania, has strengthened its anti-money laundering (AML) and counter-terrorism financing (CFT) systems. According to the EU, these reforms have resolved the “strategic deficiencies” that previously flagged the countries as high-risk under EU standards.

The Commission highlighted that Nigeria’s financial sector reforms now align with international benchmarks set by the Financial Action Task Force (FATF), reflecting enhanced regulatory oversight, improved compliance, and greater financial transparency.

Minister of State for Finance, Doris Uzoka-Anite, welcomed the announcement, describing it as a milestone for the country’s economic credibility. In a post on 𝕏 (formerly Twitter), she said, “Big win for Nigeria! Removed from EU’s financial ‘high-risk’ list! Congrats to President @officialABAT on this achievement. As Minister of State for Finance, I’m proud of this boost to trade and investor confidence.”

Previously, Nigeria’s inclusion on the EU high-risk list meant that transactions with European partners required enhanced due diligence, extensive documentation, and stricter regulatory scrutiny. These requirements often slowed cross-border transactions, increased compliance costs, and deterred potential investors.

Also Read: ADC Calls Out Tinubu for Missing 2026 National Armed Forces Ceremony

With the country now cleared from the list, businesses and banks can expect smoother trade operations, faster international payments, and renewed investor interest, marking a significant step in strengthening Nigeria’s financial reputation on the global stage.

News, Politics

ADC Calls Out Tinubu for Missing 2026 National Armed Forces Ceremony

/

The African Democratic Congress (ADC) has faulted President Bola Ahmed Tinubu for not attending the 2026 Armed Forces Remembrance Day ceremony, describing his absence as inappropriate for a national event meant to honour fallen military personnel.

The annual remembrance ceremony was held on Thursday, January 15, at the National Cenotaph in Eagle Square, Abuja. Vice President Kashim Shettima represented the President and led the observance, which honours members of the Nigerian Armed Forces who lost their lives in the line of duty.

President Tinubu was absent from the event as he is currently in the United Arab Emirates, where he is participating in the Abu Dhabi Sustainability Week 2026.

Reacting to the development, the ADC issued a statement signed by its National Publicity Secretary, Bolaji Abdullahi, to mark the remembrance day. While paying tribute to fallen and serving military personnel, the opposition party strongly criticised the President’s decision to be away from the country during what it described as a solemn and symbolic national occasion.

According to the party, the presence of the Commander-in-Chief at the Armed Forces Remembrance Day ceremony carries deep moral and symbolic importance, especially at a time when Nigerian troops are engaged in multiple security operations across the country.

The ADC argued that leadership in moments of national reflection should not be delegated, stressing that the physical presence of the President serves as a powerful message of solidarity with soldiers and their families.

The party further urged the federal government to go beyond ceremonial gestures, calling for stronger political commitment, clearer security strategies, and responsible leadership that reflects the sacrifices made by members of the armed forces.

“Remembrance must be more than wreath-laying and speeches. It must be matched by leadership that shows up, takes responsibility, and demonstrates genuine commitment to the safety and welfare of Nigerians,” the ADC stated.

Also Read: Comedian DeeOne Calls for Investigation Into NGO Finances in Nigeria

The party concluded by reaffirming its support for serving personnel and military families, noting that their sacrifices must be honoured through competent governance and decisive action on national security.

News, Politics, Trending

Atiku Abubakar’s Son, Abba, Defects from PDP to APC at National Assembly

/

Abubakar Atiku Abubakar, popularly known as Abba and son of former Vice President Atiku Abubakar, has officially left the Peoples Democratic Party (PDP) for the ruling All Progressives Congress (APC).

The defection was announced on Thursday at the National Assembly, where Abba was formally received by the Deputy President of the Senate, Senator Barau Jibrin, alongside top APC leaders from the North-East region.

Explaining his decision, Abba said his move was motivated by personal conviction as well as historical considerations. He announced the dissolution of his political base, the Haske Atiku Organisation—established in 2022—and directed its members and coordinators nationwide to immediately align with the APC in support of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

“I am Abubakar Atiku Abubakar, fondly called Abba. Today, I formally announce my exit from the party we worked with during the 2023 elections and my decision to join the APC,” he stated.

Abba also commended Senator Barau Jibrin’s leadership and praised the performance of the Tinubu administration, expressing his readiness to contribute to the president’s re-election efforts.

“With this step, I will work closely with Senator Barau to ensure the success of President Bola Ahmed Tinubu’s second-term ambition in 2027. I have therefore instructed all coordinators of my political structure to join the APC and mobilise support for the president,” he added.

Welcoming him into the party, the APC National Vice Chairman (North-East), Comrade Mustapha Salihu, described the defection as significant and symbolic, noting that it underscored the evolving nature of Nigerian politics.

“This is a joyful moment for us. He has carefully observed the policies and programmes of the Tinubu administration and has chosen to align with its vision,” Salihu said, assuring Abba of equal treatment and opportunities within the party.

Senator Barau Jibrin congratulated Abba on what he described as a bold and principled decision, noting that the defection would strengthen the APC’s consolidation efforts ahead of the 2027 general elections.

Also Read: Fubara Orders Jobs for Children of Fallen Soldiers

“This decision is rooted in ideology, not family influence. You are here because you believe in President Bola Ahmed Tinubu, his leadership philosophy, and the Renewed Hope Agenda,” Barau said.

News, Politics

Fubara Orders Jobs for Children of Fallen Soldiers

/

Rivers State Governor, Siminalayi Fubara, has ordered the immediate employment of children whose parents died while serving in the Nigerian Armed Forces, reaffirming the state government’s commitment to supporting families of fallen heroes.

The directive was issued on Thursday at the Armed Forces Remembrance Day ceremony held at the Government House in Port Harcourt, as part of activities marking the 2026 Armed Forces Remembrance Day.

Governor Fubara instructed the Secretary to the State Government, Dr. Benibo Anabraba, to ensure the employment initiative is implemented without delay, stressing that affected families should receive timely economic relief.

According to the governor, the decision forms part of Rivers State’s broader welfare policy for the Armed Forces, other security agencies, and the relatives of officers who lost their lives in the line of duty. He noted that supporting these families is both a moral obligation and a practical step toward helping them rebuild their lives after tragic losses.

Fubara further assured that the state government would continue to collaborate with military formations operating within Rivers State, providing both welfare and logistical support to enhance their effectiveness.

He commended Nigerian troops deployed across the country, including those engaged in counterterrorism operations against Boko Haram and other insurgent groups in the North-East, as well as personnel confronting banditry and kidnapping in the North-West and North-Central regions. The governor also acknowledged security efforts in the South-East and South-South, where forces are working to curb pipeline vandalism, crude oil theft, and other land and maritime crimes.

Also Read: Comedian DeeOne Calls for Investigation Into NGO Finances in Nigeria

In his address, the governor paid tribute to fallen soldiers from the First and Second World Wars, the Nigerian Civil War, international peacekeeping missions, and recent internal security operations. He also praised President Bola Tinubu for initiatives aimed at improving military welfare, upgrading equipment, and strengthening national security.

Entertainment, News, Trending

Comedian DeeOne Calls for Investigation Into NGO Finances in Nigeria

/

Popular Nigerian comedian and reality television personality, DeeOne, has urged the Federal Government to closely scrutinise the financial operations of Non-Governmental Organisations (NGOs) across the country, claiming that some are being exploited for illegal activities.

The entertainer made the appeal in a video posted on his Instagram page on Wednesday, where he raised concerns about what he described as the increasing abuse of NGOs as cover for criminal enterprises. According to DeeOne, certain organisations operating under the guise of humanitarian work may be channeling funds into activities that threaten national security.

He alleged that some NGOs are linked to the financing of terrorism, kidnapping, child trafficking, and other forms of violent crime. Calling on authorities to take urgent action, DeeOne appealed directly to the Federal Government to investigate the financial records of all NGOs operating in Nigeria.

“Federal Government of Nigeria, please investigate all NGO accounts in the country,” he said. “Some of them are allegedly being used to sponsor terrorism, kidnappers, child trafficking, and even human organ harvesting.”

DeeOne also questioned the sudden rise in wealth of some individuals who establish NGOs, suggesting that their lifestyles often do not align with the charitable nature of their organisations. He expressed concern that rescue or humanitarian efforts are sometimes quickly followed by the creation of NGOs that later generate unexplained fortunes.

While acknowledging that many NGOs are genuinely committed to humanitarian and development work, the comedian warned that the actions of a few bad actors could damage public confidence in the sector and further aggravate Nigeria’s security challenges.

Also Read: FG Denies Suspending Implementation Guidelines for New Tax Laws

He therefore called for a nationwide audit of NGO finances to promote transparency, accountability, and restore trust in organisations meant to serve vulnerable communities.

News, Politics, Trending

FG Denies Suspending Implementation Guidelines for New Tax Laws

/

The Federal Government has refuted reports suggesting it has halted the release of implementation guidelines for Nigeria’s newly introduced tax laws.

In a post shared on X on Thursday, Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, described the reports as false, stating clearly that no such suspension has occurred.

The clarification comes amid increasing public debate over the tax reforms, which officially came into force about two weeks ago. Since their introduction, the new laws have attracted criticism and sparked calls for a pause in implementation from several quarters. Among those urging the government to suspend the reforms are former presidential candidate Peter Obi, the Nigeria Labour Congress (NLC), and various civil society organisations.

Despite the mounting pressure, the government appears firm on its stance. Zacch Adedeji, Executive Chairman of the Nigeria Revenue Service (NIRS), recently dismissed suggestions of a suspension.

Also Read: AFCON Semi-Final: FG Rallies Behind Super Eagles Ahead of Morocco Clash

Speaking during an interview on TVC, Adedeji maintained that the tax reforms are designed to improve Nigeria’s fiscal system and ultimately benefit citizens, insisting that halting the process would be counterproductive.

News, Politics, Trending

2026 Armed Forces Remembrance Day: Shettima Honours Fallen Nigerian Soldiers

/

Vice President Kashim Shettima on Thursday, January 15, presided over the 2026 Armed Forces Celebration and Remembrance Day ceremony held at the cenotaph of the Unknown Soldier in Eagle Square, Abuja.

Shettima attended the event on behalf of President Bola Tinubu, who is currently in the United Arab Emirates for the Abu Dhabi Sustainability Week 2026.

The annual ceremony, organised by the Ministry of Defence, is dedicated to honouring members of the Nigerian Armed Forces who lost their lives while defending the country. It serves as a solemn moment to remember fallen soldiers from the First and Second World Wars, the Nigerian Civil War, international peacekeeping missions, and various internal security operations.

Special recognition was given to troops who have made the ultimate sacrifice in the ongoing fight against terrorism and insurgency. The Federal Government described these security threats as a direct challenge to Nigeria’s unity and continued existence.

Beyond remembrance, the event also celebrates surviving veterans and provides a platform to raise both financial and moral support for their welfare. It further highlights the needs of families left behind by fallen service members, many of whom continue to endure the long-term impact of their loved ones’ sacrifices.

Although Armed Forces Remembrance Day is marked in many countries around the world, Nigeria’s observance reflects its unique history. As a Commonwealth nation, Nigeria initially commemorated the day on November 11, in line with other member states, to honour soldiers who died in the World Wars. The date symbolises the end of the First World War in 1918, marked at the 11th hour of the 11th day of the 11th month.

However, Nigeria later adopted January 15 to align the remembrance with the conclusion of the Nigerian Civil War, ensuring the commemoration resonates more deeply with the nation’s own historical experience.

This year’s event carried added significance amid reported military successes in the North-East and other troubled regions of the country. The occasion offered an opportunity to commend the bravery, discipline and professionalism of officers and soldiers working tirelessly to address Nigeria’s security challenges and maintain peace nationwide.

You May Like: AFCON 2025: Eric Chelle Explains Super Eagles’ Penalty Defeat to Morocco

The Federal Government reaffirmed its appreciation for the dedication of the Armed Forces and called on citizens, corporate bodies and private organisations to continue supporting military personnel and their families. It stressed that sustained backing for the Armed Forces remains vital to national security and long-term stability.

News, Sports, Trending

AFCON 2025: Eric Chelle Explains Super Eagles’ Penalty Defeat to Morocco

/

Super Eagles head coach Eric Chelle has acknowledged that Nigeria fell short in key areas during their dramatic semi-final exit at the 2025 Africa Cup of Nations, admitting his team lacked the energy and dynamism required to overcome host nation Morocco.

Nigeria’s AFCON journey came to an end on Wednesday night after a tightly contested encounter finished scoreless, before Morocco edged the Super Eagles 4–2 in a penalty shoot-out.

Reflecting on the clash, Chelle explained that his side’s aggressive pressing game was intentional but conceded that their overall performance did not match the level shown in earlier matches of the tournament.

“We chose to press high because sitting back would have created too much space and made things very difficult for us,” Chelle said. “However, technically, we were not as sharp as we had been in previous games.”

While stopping short of blaming exhaustion, the 48-year-old tactician admitted his team struggled physically on the night.

“I won’t say it was fatigue, but we clearly missed movement and power,” he added.

Amid ongoing speculation about his position, Chelle remained focused on the immediate task ahead rather than his long-term future with the national team.

“At this moment, I am still in charge of the Super Eagles,” he said. “Our attention is on the match against Egypt, and we want to win it.”

Nigeria will take on Egypt in the third-place playoff on Saturday at 5 p.m., a fixture Chelle insists carries significant importance despite the disappointment of missing out on the final.

The coach also addressed questions surrounding his tactical decisions, including the choice to replace suspended captain Wilfred Ndidi with Raphael Onyedika.

“This is not about one individual,” Chelle stressed. “It’s about the collective effort of the team.”

Defending his penalty selections after misses from Samuel Chukwueze and Bruno Onyemaechi, Chelle explained that the decision was based purely on training performances.

Also Read: NURTW Chieftain Koko Zaria Accuses MC Oluomo of Sleeping with His Wives and Girlfriends

“The players who took the penalties were the most reliable during training sessions,” he said.

With one match left to play, the Super Eagles will now look to finish their AFCON campaign on a positive note against Egypt.

Business, News, Trending

FG Approves VAT on Mobile Transfers, USSD and Card Fees

/

The Federal Government has announced a new directive requiring banks, microfinance institutions, and fintech companies to begin charging Value-Added Tax (VAT) on selected electronic banking service fees.

The policy, which takes effect from Monday, January 19, 2026, targets service charges linked to electronic transactions rather than the actual funds being transferred. Customers will therefore pay VAT only on the fees charged by financial institutions, not on the transaction amounts themselves.

According to the Nigerian Revenue Service (NRS), formerly known as the Federal Inland Revenue Service (FIRS), the move is aimed at harmonising tax collection across Nigeria’s rapidly expanding digital finance ecosystem.

Under the directive, financial institutions must deduct a 7.5 per cent VAT from applicable service fees. For instance, a ₦100 transfer charge will now attract an additional ₦7.50 as VAT.

One of Nigeria’s leading fintech companies, Moniepoint, has already notified customers of the change through an official email. The firm confirmed that it would begin collecting the tax in line with the government’s directive and remitting it to the NRS.

“From Monday, January 19, 2026, we are required to collect a 7.5 per cent VAT, which will be remitted to the Nigerian Revenue Service,” Moniepoint stated.

The company also clarified the types of services that will be affected. These include electronic banking-related charges such as mobile app transfer fees, USSD transaction costs, and card issuance fees.

Further details from the NRS show that VAT will apply to mobile money transfers, USSD sessions, and card-related services. However, income earned from savings and deposit accounts remains exempt from VAT.

To promote transparency, the tax authority has instructed financial institutions to clearly display VAT deductions on transaction receipts and account statements, allowing customers to easily identify the charges.

This development follows the recent reintroduction of the ₦50 stamp duty—also known as the Electronic Money Transfer Levy—on electronic transfers of ₦10,000 and above, implemented under the new Tax Act.

While VAT on certain banking services has existed in the past, the NRS says the renewed enforcement is designed to ensure uniform compliance across both fintech platforms and traditional banks, closing loopholes that have led to revenue losses.

Also Read: Kano Suspends Three Health Workers Over Death of Patient With Forgotten Surgical Scissors

As the implementation date draws closer, customers are expected to receive similar notifications from other banks and fintech providers, detailing how the VAT will apply to their electronic banking transactions.

Scroll to Top
site logo

Politics

Photo

News

Music

Lifestyle

Health

Gym

Games

Food

Fitness

Feature

Fashion

Entertainment

Education

Design

Dental

Construction

Business

Building

Beauty

Award

Join our newsletter channel