Nigerians spend over $1bn on beer in 9 months as brewers hit record sales …..

Nigerians spent over $1 billion on beer within nine months as major brewers recorded record-breaking sales despite economic challenges. Industry reports show strong demand for alcoholic beverages, driven by population growth, festive seasons, and rising consumer spending on lifestyle products. The surge in sales has boosted revenues for leading brewing companies, even as inflation and high costs affect household budgets. Analysts say the trend highlights the resilience of Nigeria’s beer market and its continued appeal to consumers nationwide.
#fintternews

Nigeria Revenue Service Chairman Spotted Wearing ₦25.5 Million Patek Philippe While Citizens Face New VAT

As Nigerians struggle with inflation and a new 7.5% VAT on banking services, NRS Executive Chairman Zacch Adedeji was spotted wearing a ₦25.5 million Patek Philippe Golden Ellipse wristwatch. The luxury timepiece, featuring platinum casing and blue gold dial, highlights extreme wealth while citizens face economic hardship. The sighting has sparked outrage over the moral implications of public officials flaunting luxury amid rising taxes and financial strain.

#NigeriaVAT #NRS #LuxuryWatch #PatekPhilippe #EconomicHardship #NigeriaNews #TaxBurden

Nigeria’s New Tax Regime Sparks Confusion as Tenants, Businesses Feel the Heat

Nigeria’s much-talked-about tax “generational reset” is no longer an abstract policy debate—it is now hitting tenants and businesses directly, and painfully. In this opinion piece, Cheta Nwanze recounts receiving a rent renewal notice demanding a 10% withholding tax under the Nigeria Tax Act 2025, with little explanation on whether the rule applies to residential or commercial properties. The lack of clear government communication has fuelled widespread confusion, forcing landlords, tenants, and businesses into a chain of guesswork. As inflation bites harder, the uncertainty risks driving resentment, higher living costs, and tax evasion, undermining the very trust and compliance the reform aims to build.

#newtax

Lagos Woman Finds Okro Inside Meat Pie Bought in Traffic………

A Lagos woman has sparked reactions online after discovering pieces of okro inside a meat pie she bought from a roadside vendor while stuck in traffic. The incident, which she shared on social media, showed the unusual filling after she broke the pie open. Many Nigerians expressed shock and amusement, with some accusing vendors of cutting corners amid rising food costs. Others advised residents to be cautious when buying food in traffic due to hygiene and quality concerns. The post has since reignited debates about food safety, inflation, and street vending practices in Lagos.#fintternew

Tinubu Hails Abubakar Kyari on Birthday, Praises Food Reforms

President Bola Tinubu has congratulated Agriculture and Food Security Minister, Senator Abubakar Kyari, on his birthday, praising his leadership and reforms in Nigeria’s agriculture sector. Tinubu described Kyari as a seasoned statesman with years of service in the House of Representatives, Senate and APC leadership. He commended his push for mechanisation, stronger value chains and youth participation in farming. According to the president, these efforts have helped stabilise food prices, curb inflation and make agriculture more profitable. Tinubu prayed for Kyari’s strength to achieve food sufficiency.

#Tinubu #AbubakarKyari #FoodSecurity

Why Were At Least 17 Dubai–Iran Flights Suddenly Cancelled? Are Tehran Protests and a Nationwide Internet Blackout Disrupting Regional Travel?

Why are flights between Dubai and Iran being abruptly cancelled—and what does it reveal about the growing unrest inside the Islamic Republic? At least 17 Flydubai flights scheduled for Friday between Dubai and major Iranian cities, including Tehran, Shiraz, and Mashhad, were called off without prior notice, raising alarm among passengers and underscoring the widening impact of Iran’s escalating political crisis.

Data published on the Dubai Airports website confirmed the cancellations, showing multiple outbound and inbound routes affected. The disruption comes as Iran faces intensifying nationwide protests and a near-total internet blackout, reportedly imposed by authorities in an effort to restrict communication and contain the spread of demonstrations.

Iran has been gripped by widespread unrest since late December, driven by worsening economic conditions, soaring inflation, and deepening hardship for ordinary citizens. What began as localized protests has rapidly expanded across several cities, prompting a heavy security response from the government. Observers say the communication shutdown reflects growing concern within the Iranian authorities over the speed at which information—and dissent—is spreading.

A Flydubai spokesperson confirmed that all scheduled flights to Iran on Friday were cancelled, stating that the airline would “continue to monitor the situation” and adjust operations as needed. However, no specific reasons were publicly provided, leaving travelers uncertain about safety conditions, regulatory restrictions, and how long the disruption might last.

The cancellations were not limited to Flydubai. Turkish media reported that Turkish Airlines cancelled at least 17 flights to Iranian destinations, while Ajet reportedly suspended six flights. Pegasus Airlines was also said to have cancelled several routes. In the Gulf region, at least two flights between Doha and Tehran were reportedly cancelled, according to updates from Hamad International Airport.

The wave of suspensions points to a broader regional response to instability inside Iran. Airlines are increasingly forced to weigh passenger safety, operational risks, and regulatory uncertainty as protests grow and communication channels remain restricted.

The key question remains: Are these flight cancellations a temporary precaution—or an early sign of deeper regional disruption tied to Iran’s internal crisis? For travelers, airlines, and neighboring countries, the unfolding situation highlights how domestic unrest in one nation can quickly ripple across international transport, commerce, and security.

As protests persist and the blackout continues, aviation disruptions may expand further, signaling that Iran’s political turmoil is no longer confined within its borders but is now reshaping regional connectivity in real time.

Iranian women light cigarettes with burning photo of their country’s supreme leader

Iranian women have launched a striking new form of protest, lighting cigarettes with burning images of Supreme Leader Ayatollah Ali Khamenei in a bold act of defiance that has spread rapidly online.

Videos and photographs of the protests have been shared thousands of times across social media platforms, showing women without headscarves smoking cigarettes ignited by portraits of the country’s most powerful figure. Burning images of the supreme leader is a serious criminal offence under Iranian law, while women smoking in public has long been restricted or discouraged.

By combining both acts, and openly defying mandatory hijab laws,protesters are challenging not only Iran’s political authority but also its rigid social controls.

Observers say the symbolism of the act makes it particularly difficult for authorities to suppress.

“This kind of protest doesn’t rely on mass gatherings that can be dispersed,” one analyst noted. “It spreads digitally and privately, making enforcement far more complex.”

The trend has emerged amid deepening economic hardship and renewed nationwide unrest. Iran has been gripped by protests over inflation, unemployment and the collapse of the rial, with demonstrations breaking out in cities across the country.

While the current unrest has not yet reached the scale of the mass protests seen three years ago, human rights groups say dozens of people have been killed during clashes with security forces in recent weeks.

Authorities imposed a nationwide internet and phone blackout on Thursday night as protests intensified, largely cutting Iran off from the outside world. The blackout followed days of growing demonstrations and reports of escalating violence.

Ayatollah Khamenei has accused protesters of acting on behalf of foreign powers, particularly the United States and President Donald Trump. He said demonstrators were attacking public property and warned that Iran would not tolerate what he described as “mercenaries for foreigners.”

ICPC Rejects Dangote’s Petition Withdrawal, Continues Probe of Ex-NMDPRA Chief Farouk Ahmed

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has confirmed that it will continue investigating allegations of corruption against Engineer Farouk Ahmed, the former Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), despite the withdrawal of a petition by Africa’s richest man, Aliko Dangote.

Dangote initially filed the petition in December 2025, accusing Ahmed of corruption, including the alleged misappropriation of public funds and spending approximately $5 million on his children’s education in Switzerland, despite lacking a verifiable lawful income to support such expenditure. The allegations sparked nationwide outrage and intensified scrutiny of Nigeria’s downstream petroleum sector.

On January 5, 2026, Dangote’s legal team, led by Dr. O.J. Onoja, SAN, formally withdrew the petition, citing that another law enforcement agency had assumed responsibility for investigating the matter. However, the ICPC rejected the withdrawal, emphasizing that once a petition alleging corruption is received and an investigation commences, the process cannot be terminated at the discretion of the petitioner—particularly in cases of public interest and alleged abuse of office.

In a press statement, ICPC spokesperson Okor Odey stressed that the commission’s investigation would proceed in line with its statutory mandate to ensure transparency, accountability, and the fight against corruption in Nigeria. The ICPC also highlighted that the inquiry serves the interest of the Nigerian people and cannot be halted simply because the petitioner withdraws.

Following the accusations, Farouk Ahmed resigned from his position as NMDPRA Chief Executive, and President Bola Ahmed Tinubu appointed a successor. ICPC had earlier summoned Dangote to appear before a special panel of investigators in Abuja regarding his petition. Dangote had publicly criticized Ahmed’s alleged spending during a media briefing on December 14, 2025, highlighting the contrast between such expenditure and the economic struggles of ordinary Nigerians amid inflation and rising fuel prices.

The ICPC’s decision to continue its probe underscores the agency’s commitment to holding public officials accountable, regardless of a petitioner’s withdrawal, and signals a robust approach to anti-corruption enforcement in Nigeria.

TUC Urges Nigerian Government to Review Workers’ Salaries and Allowances Amid Rising Inflation and Cost of Living in 2026

The Trade Union Congress of Nigeria (TUC) has called on all levels of government to urgently review and increase workers’ salaries and allowances in response to the rising cost of living and persistent inflation affecting Nigerian workers.

In a statement issued on Monday by President Festus Osifo and General Secretary Nuhu Toro, the TUC expressed concern that workers’ purchasing power has been significantly eroded, emphasizing that the review of allowances should serve as an immediate relief measure ahead of the implementation of the new National Minimum Wage in 2027.

The union warned that workers should not bear the brunt of economic reforms without safeguards and urged them to remain united and vigilant in defending their rights and welfare. The TUC reaffirmed its commitment to building a strong, solidarity-based labour movement capable of advocating for workers and protecting their interests across Nigeria.

Trump Warns Iran of U.S. Military Action Amid Deadly Protests, Says America ‘Locked and Loaded’

U.S. President Donald Trump issued a stern warning to Iran, stating that the United States is prepared to intervene militarily if Iranian authorities violently suppress peaceful protesters. Posting on Truth Social, Trump condemned Iran’s “custom” of targeting demonstrators, declaring that America is “locked and loaded and ready to go.”

The remarks drew sharp responses from Iran, with senior adviser Ali Larijani warning that U.S. interference could destabilize the Middle East. The threats coincide with the largest wave of protests in Iran in three years, sparked by inflation, economic hardship, and government mismanagement.

At least six people have reportedly been killed since the protests began, including a Basij paramilitary member, while dozens have been arrested. Iranian President Masoud Pezeshkian acknowledged government responsibility for the crisis and called for dialogue with protest leaders.

Analysts note that escalating unrest, economic woes, and ongoing regional tensions, including U.S. and Israeli strikes, have heightened the risk of further violence and instability in Iran.

Revolutionary Socialist Movement Urges Nigerians to Resist Tinubu’s ‘Anti-Poor’ Tax Policies, Warns of Rising Hardship, Inflation, Fuel Hikes, and Growing Economic Inequality in 2026

The Revolutionary Socialist Movement (RSM) has called on Nigerians to actively resist what it describes as “anti-poor tax policies” introduced by President Bola Tinubu’s administration, warning that the measures will deepen economic hardship for workers and low-income earners. In a New Year message issued by its Publicity Secretary, Comrade Salako Kayode, the group said Nigerians are entering 2026 under intense economic pressure driven by high inflation, soaring food prices, unemployment, repeated fuel price increases, and declining public services.

RSM accused the federal government of responding to the economic crisis by shifting the burden onto ordinary citizens through new and increased taxes, while protecting wealthy individuals, big corporations, and political elites. According to the group, the current tax system has failed to improve essential services such as healthcare, education, housing, and employment, instead sustaining corruption, heavy debt servicing, and what it termed extravagant lifestyles among those in power.

The movement argued that Nigerians should not be forced to pay for an economic crisis they did not create and proposed alternatives including recovering stolen public funds, ending wasteful governance and jumbo salaries, taxing big businesses and the super-rich, and investing more in public services and decent jobs. RSM also called on trade unions, civil society groups, students, and communities to form a united front and engage in peaceful mass resistance to defend living standards and democratic rights, expressing optimism that a more equitable Nigeria is achievable.

2026 Begins New Era of Economic Growth, Stability and Reform as President Tinubu Projects Lower Inflation, Strong GDP Growth and Improved Security in New Year Address

President Bola Ahmed Tinubu has declared that 2026 marks the beginning of a more robust phase of economic growth for Nigeria, citing steady gains recorded in 2025 despite global economic challenges. In his New Year address, the President said the government sustained major reforms, achieved a fiscal reset and recorded measurable progress in GDP growth, trade surpluses, exchange rate stability and declining inflation.

According to Tinubu, Nigeria closed 2025 with quarterly GDP growth projected to exceed 4 percent annually, while inflation dropped below 15 percent in line with government targets. He noted that the Nigerian Stock Exchange recorded a strong 48.12 percent gain, foreign reserves rose to $45.4 billion, and foreign direct investment surged to $720 million in the third quarter of 2025, reflecting renewed investor confidence backed by positive assessments from global rating agencies.

The President reaffirmed his administration’s commitment to fiscal discipline and tax reform, stressing that harmonising taxes across all levels of government will reduce the burden on citizens, boost revenue sustainably and expand fiscal space for infrastructure and human capital development. He added that the 2026 budget is designed to consolidate reforms and position Nigeria for long-term stability and prosperity.

On security, Tinubu acknowledged ongoing threats from terrorism and criminal networks but said decisive actions, including coordinated operations with international partners, have weakened terror groups in the Northwest and Northeast. He pledged deeper cooperation with global and regional partners in 2026, while reiterating support for decentralised policing and regulated forest guards to tackle insecurity.

President Tinubu also outlined plans to accelerate inclusive growth through the Renewed Hope Ward Development Programme, targeting the empowerment of at least 10 million Nigerians across the country’s 8,809 wards. He said the government will continue investing in infrastructure, agriculture, mining, healthcare, education and food security to improve living standards nationwide.

Calling for unity, patriotism and shared responsibility, the President urged Nigerians to support ongoing reforms, expressing confidence that 2026 will deliver tangible improvements in the lives of citizens and strengthen national stability.

Africa’s Weakest Currencies in 2025: Why South Sudan and Ethiopia Crashed, Investor Fears Grew, and the Naira Escaped Africa’s Bottom 10

In 2025, currency weakness across Africa deepened economic hardship for millions, as sharp devaluations translated into soaring inflation, higher living costs, and reduced investor confidence. An end-of-year assessment shows that the South Sudanese pound and the Ethiopian birr emerged as Africa’s weakest currencies, each losing more than 10% of their value against the US dollar, underscoring persistent structural and macroeconomic vulnerabilities across the continent.

South Sudan’s currency collapse was largely driven by its heavy dependence on crude oil, which accounts for over 90% of foreign exchange earnings. Disruptions to oil exports following conflict in neighbouring Sudan severely reduced dollar inflows, triggering a steep depreciation of the pound. The fallout was devastating, with inflation surging to nearly 108% by September 2025, eroding purchasing power and worsening poverty.

Ethiopia’s birr also suffered a brutal year, ranking among the world’s weakest currencies alongside the Argentine peso and Turkish lira. Dollar shortages, high inflation, mounting debt pressures, and investor anxiety combined to push the birr down by over 15%, complicating economic stabilisation efforts and debt restructuring plans.

Across Africa, weak and volatile currencies continue to deter both foreign and local investment, as exchange-rate instability makes long-term business planning nearly impossible. Economies with limited export diversification, persistent inflation, and political or fiscal instability remain the most exposed to global shocks.

Notably, Nigeria’s naira was absent from Africa’s bottom 10 weakest currencies in 2025, despite its own struggles and ending the year around ₦1,445 to the dollar. Analysts say this highlights that currency strength is not determined by central bank policy alone but reflects deeper economic resilience, diversification, and stability. As Africa moves into 2026, the performance of its currencies remains a key signal of broader economic health across the continent.

Human Rights Lawyer Ejiofor Criticizes Tinubu Govt Over Widespread Hunger, Poverty, and Security Failures in 2025

Human rights lawyer Barrister Ifeanyi Ejiofor has condemned Nigeria’s socio-economic and security situation under President Bola Tinubu in 2025, citing insecurity, economic hardship, and legislative failure as defining issues. He described hunger and poverty as “democratised” and no longer selective, attributing worsening conditions to inflation, stagnant wages, and poorly conceived policies.

Ejiofor criticized the National Assembly for rubber-stamping bills like the Tax Reform Act without proper oversight and accused the government of selective responses to violent attacks, worsening inequality and shrinking the middle class. Despite the grim assessment, he expressed gratitude for survival and urged the emergence of compassionate leadership, people-centered policies, and a security architecture rooted in justice as Nigeria enters 2026.

Tinubu Sparks Outrage Wearing ₦400 Million Patek Philippe Watch at Lagos Eyo Festival Amid Economic Hardship

President Bola Tinubu stirred controversy after attending the Lagos Eyo Festival wearing a rose-gold Patek Philippe Nautilus wristwatch worth over ₦400 million ($271,000). The display of luxury has drawn public criticism, given Nigeria’s worsening economic situation, rising inflation, fuel subsidy removals, and widespread insecurity. The incident highlights growing concerns about the optics of presidential opulence during national hardship, as social media debates intensify over the appropriateness of such extravagance.

Nigeria Not at War: Finance Minister Wale Edun Reassures Investors After US-Nigeria Airstrikes in Sokoto

Finance Minister Wale Edun has assured investors and international partners that Nigeria remains peaceful and stable following joint counter-terrorism operations with U.S. forces in Sokoto State on Christmas Day. Emphasizing that Nigeria is not at war, Edun clarified that the strikes targeted only terrorist elements threatening lives and economic activity. He highlighted ongoing economic reforms, GDP growth of 3.98% in Q3 2025, decelerating inflation below 15%, and recent credit rating upgrades as indicators of resilience and stability. The ministry affirmed that Nigeria remains open for business and committed to sustainable economic growth.

Alleged Forgery Of Tinubu’s Tax Reform Law Is Treason, Assault On Democracy — Atiku Alleges

Former Vice President Atiku Abubakar has accused the Bola Tinubu administration of committing a “brazen act of treason” through alleged unauthorised alterations to the recently passed Tax Reform Law. In a statement issued by his media aide, Paul Ibe, Atiku claimed that key provisions were illegally inserted after the National Assembly had passed the bill, in violation of Sections 4 and 58 of the 1999 Constitution. He alleged that the changes granted excessive powers to tax authorities, imposed harsher financial burdens on citizens and businesses, and removed critical legislative oversight mechanisms. Atiku warned that the alleged forgery undermines constitutional democracy, due process and legislative supremacy, while worsening hardship for Nigerians already facing poverty and inflation. He called for the immediate suspension of the law’s implementation, legislative correction of the alleged alterations, judicial intervention to strike down unconstitutional provisions, and public resistance to what he described as an erosion of democratic governance.

EXCLUSIVE: Tinubu-Linked Alpha-Beta Sets ₦2.83 Trillion Lagos Tax Target for 2026 Amid Economic Hardship

An internal planning document obtained by SaharaReporters reveals that Alpha-Beta Consulting LLP, a firm long linked to President Bola Tinubu, has set an ambitious ₦2.83 trillion tax revenue target for Lagos State in 2026—more than double the state’s previous collections. The projection comes amid rising inflation, business closures, job losses, and growing public distrust of government tax policies. While Lagos generated about ₦1.41 trillion in tax revenue as of October 2025, Alpha-Beta’s 2026 target signals a more aggressive revenue drive that could intensify enforcement and pressure on struggling businesses. The document also exposes operational challenges within the firm, including power outages, network failures, weak monitoring systems, and difficulties tracking distressed companies, raising questions about the feasibility and social impact of the ambitious tax target under current economic conditions.

Malawi Confirms Vice President Jane Ansah’s UK Family Visit Will Cost Taxpayers $97,000 Amid Austerity

The Malawian government has officially confirmed that Vice President Jane Mayemu Ansah will embark on a two-week private family visit to the United Kingdom, a trip expected to cost taxpayers MK168,028,400 (approximately $97,000). The visit is scheduled to begin on December 26, 2025, and will run until January 10, 2026, with the Vice President travelling alongside a five-member delegation.

According to a statement issued in Lilongwe by the Minister of Information and Government Spokesperson, Dr. Shadric Namalomba, the trip received formal approval from President Peter Mutharika’s administration. The government noted that although the original projected cost of the visit was MK294,719,200, it was later reduced in line with the austerity measures announced by President Mutharika in October to curb public spending amid Malawi’s worsening economic situation.

Namalomba stated that the approved budget covers international flights and travel allowances for the delegation, insisting that the reduced figure reflects the administration’s commitment to prudent financial management and responsible use of public resources. However, the confirmation has intensified public debate, as the trip has been described as purely private, with no official diplomatic meetings or state engagements attached.

Critics argue that funding a private foreign visit with public money contradicts the government’s austerity narrative, especially at a time when Malawians are grappling with rising inflation, currency pressure, and economic hardship. The announcement has further fueled political backlash and scrutiny from civil society groups questioning the justification for the expenditure.

The confirmation follows earlier reports and public outrage over allegations that the Vice President planned to spend as much as $1.3 million in public funds to attend her husband’s 80th birthday celebration in the UK. The Office of the Vice President has since dismissed those claims as fake and misleading, maintaining that the approved cost of the trip is significantly lower. Despite this clarification, the controversy continues to dominate public discourse in Malawi.

Tinubu Urged to Sack Finance Minister Wale Edun Over Alleged Poor Economic Management

President Bola Ahmed Tinubu has been called upon to immediately remove the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, over allegations of poor handling of Nigeria’s economy. The call was made by political activist Theophilus Abu Agada, who publicly criticised Edun’s performance since assuming office in 2023.
In a social media post, Agada described Edun as a “terrible manager of the economy,” arguing that Nigeria’s economic challenges have been poorly addressed under his leadership. He claimed that the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has been shielding the finance minister through what he termed a more competent and proactive performance at the apex bank.
Agada further accused President Tinubu of making a grave mistake by entrusting the nation’s economic management to someone he described as having “stale and outdated” knowledge of economic realities. He insisted that Edun’s continued stay in office is detrimental to Nigeria’s economic recovery and urged the president to act swiftly by relieving him of his duties.
The statement has added to ongoing public debates and criticisms surrounding the Tinubu administration’s economic policies, reforms, and appointments, especially amid rising inflation, currency pressures, and cost-of-living concerns across the country.