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Tag: January

Nigeria’s Inflation Eases Slightly To 15.10% In January 2026

Wale busari04 mins

Nigeria’s headline inflation edged down to 15.10 per cent in January 2026, slightly lower than the 15.15 per cent recorded in December 2025, the National Bureau of Statistics (NBS) reported on Monday. The modest decline came despite earlier projections by analysts that inflation could rise to 19 per cent in the month. The CPI fell to 127.4 in January from 131.2 in December, representing a 3.8-point drop. Year-on-year, the headline inflation rate is 12.51 percentage points lower than the 27.61 per cent recorded in January 2025. Month-on-month, inflation fell by 2.88 per cent in January, following a 0.54 per cent rise in December, indicating a reduction in average price levels. The NBS stated: “The Consumer Price Index declined to 127.4 in January 2026, reflecting a 3.8-point decrease from the preceding month. Headline inflation eased to 15.10 per cent, down from 15.15 per cent in December 2025, a decline of 0.05 percentage points.” The bureau noted that the twelve-month average CPI ending January 2026 was 21.97 per cent, up from 17.59 per cent in January 2025. Urban and Rural Inflation Urban inflation dropped to 15.36 per cent year-on-year, from 29.45 per cent in January 2025, while rural inflation fell to 14.44 per cent from 25.04 per cent. Month-on-month, urban prices declined by 2.72 per cent and rural prices by 3.29 per cent. Food and Core Inflation Food inflation slowed to 8.89 per cent year-on-year, down from 29.63 per cent in January 2025, while month-on-month food prices fell by 6.02 per cent. The NBS attributed the slowdown to lower prices for staples including water yam, eggs, green peas, groundnut oil, soya beans, palm oil, maize grains, guinea corn, beans, beef, and cassava. Core inflation, which excludes volatile agricultural and energy items, stood at 17.72 per cent year-on-year, compared with 25.27 per cent in January 2025. Month-on-month, core inflation decreased by 1.69 per cent. State-Level Inflation Among states, Benue recorded the highest year-on-year inflation at 22.48 per cent, followed by Kogi (20.98 per cent) and the Federal Capital Territory (19.25 per cent). Ebonyi (8.72 per cent), Katsina (8.94 per cent), and Imo (10.61 per cent) had the lowest rates. For month-on-month changes, Imo and Ondo posted the largest increases at 1.93 per cent and 1.932 per cent, while Cross River, Ogun, and Kogi recorded the sharpest declines at negative 6.34 per cent, negative 6.30 per cent, and negative 6.03 per cent, respectively. In food inflation, Kogi led with 19.84 per cent, followed by Benue (18.38 per cent) and Adamawa (17.29 per cent), while Ebonyi, Abia, and Imo had the slowest increases. The figures reflect continued easing in Nigeria’s inflationary pressures, particularly in food prices, providing some relief for households after periods of high price growth.

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NANS Plans Nationwide Protest On January 14 Over New Tax Laws

Wale busari02 mins

The National Association of Nigerian Students (NANS) has announced plans for a nationwide protest on January 14, 2026, over the introduction of new tax laws. In a statement on Wednesday, NANS President Comrade Olushola Oladoja said the reforms could worsen economic challenges for students and millions of Nigerians. He criticised the Federal Government’s approach, accusing advisers to President Bola Ahmed Tinubu of giving misguided counsel that could create unnecessary tension nationwide. Oladoja also took aim at the Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, for inadequate stakeholder engagement and consultation before the rollout of the tax policy. He warned that poor planning and weak implementation could undermine progress in other sectors of the economy. “The decision to commence implementation of the Tax Reform Law from January 1, 2026, sets a dangerous precedent for a government that claims commitment to democratic values and participatory governance,” he said, noting that the National Assembly had reportedly raised concerns about discrepancies in the gazetted law. He added that civil society organisations, youth groups, and student bodies had called for a suspension of the policy to allow for greater transparency and public sensitisation. As part of the protest, NANS declared January 14 a National Day of Action, directing chapters, state councils, and zonal coordinators to organise peaceful demonstrations nationwide, including marches to the Presidential Villa in Abuja. “There can be no government without the governed. While power may reside in offices, the power of the people will always be greater,” Oladoja said.

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New Tax Reforms to Begin January 1, 2026, Says Taiwo Oyedele

Wale busari02 mins

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has confirmed that Nigeria’s new tax reforms will be implemented starting January 1, 2026. Speaking to journalists after the National Tax Policy Implementation Committee (NTPIC), chaired by Joseph Tegbe, visited President Bola Tinubu in Lagos, Oyedele explained that the reforms aim to ease the tax burden on Nigerians and stimulate economic growth. He said, “The implementation of the two remaining new tax laws will proceed as scheduled on January 1, 2026. These reforms are designed to provide relief to the Nigerian people. “About 98 per cent of workers will either pay no PAYE tax or reduced amounts; small businesses, representing 97 per cent of the sector, will be exempted from corporate income tax, VAT, and withholding tax, while larger companies will see a reduction in their tax obligations. “The goal is to foster economic growth, inclusivity, and shared prosperity. We are pleased with the progress and look forward to the reforms taking effect at the start of the new year.”

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Roma considers January bid for Ola Aina

Fola Badmus02 mins

Roma are considering a January bid for Nottingham Forest full-back Ola Aina, a former Torino defender. The Giallorossi need reinforcements on the right flank, as Saud Abdulhamid still needs time to settle in and challenge Zeki Celik for a starting spot. For this reason, the Serie A side have reportedly set their sights on ex-Torino defender Ola Aina, currently under contract with Premier League side Nottingham Forest. The 28-year-old’s deal runs out in June 2025, so the Giallorossi hope he’ll be available for a reduced transfer fee during the winter transfer window. Ola Aina is a versatile full-back who can also play on the left flank, which is one more reason the Giallorossi are monitoring him. According to the report, Roma will need from €12m to €15m to secure the defender’s signature in two months, but the Giallorossi will likely negotiate a lower fee and may try to include Nicola Zalewski in a player-plus-cash swap deal. Zalewski was recently reintroduced to the Roma squad after snubbing a summer move to Galatasaray. He’s currently in talks to extend with the Giallorossi as his deal runs out at the end of the season. Ola Aina scored two goals and provided seven assists in 113 appearances with Torino.

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