The laws are the Nigeria Tax Act, the Nigeria Tax Administration Act, the Nigeria Revenue Service (Establishment) Act and the Joint Revenue Board (Establishment) Act, all operating under a single authority, the Nigeria Revenue Service. The NRS had, last December, said the new tax laws were designed to strengthen economic competitiveness, attract investments and improve long-term fiscal stability. However, recent developments indicate that some business owners are already raising the prices of their goods and services, attributing the hikes to the tax laws. The lawmakers went as far as taunting Fubara that he cannot win an election without the support of Wike in the state. The fuel supply arrangement between the refinery and 20 major petroleum marketers, under which the parties agreed to offtake 600 million litres of petrol monthly, has collapsed over pricing disagreements.

Source: Punch January 10, 2026 13:36 UTC