The IMF’s recommendation that Nigeria impose excise duties on telecommunications services and extend VAT to petroleum products raises a fundamental question: How do you tax people deeper into poverty and then promise to help them with social interventions? That logic is difficult to defend. That is precisely where the IMF’s latest recommendation runs into trouble. The contradiction is glaring. In the same report, the IMF acknowledges that poverty remains widespread, food insecurity is increasing, inflation continues to strain household budgets, and millions of Nigerians are struggling to cope with the aftermath of fuel subsidy removal and currency depreciation. Yet the…
Author: Elvis Eromosele
…Fund says additional tax reforms needed to create fiscal space for development and social spending The International Monetary Fund (IMF) has urged Nigeria to consider imposing excise duties on telecommunications services and extending Value Added Tax (VAT) to petroleum products as part of broader efforts to strengthen government revenue and improve fiscal sustainability. The recommendation is contained in the IMF’s latest Article IV Consultation Report on Nigeria, which argues that stronger revenue mobilisation will be necessary to support development projects, social interventions and long-term economic growth. The proposal comes at a time when Nigerians are grappling with rising living costs,…
The long wait is finally over for the New York Knicks. The Knicks clinched their first NBA championship in 53 years on Saturday night, defeating the San Antonio Spurs 94-90 in a thrilling Game 5 of the 2026 NBA Finals to secure the franchise’s third NBA title and first since 1973. At the heart of the historic triumph was superstar guard Jalen Brunson, who delivered a performance for the ages, pouring in 45 points to lead New York to glory and earning the NBA Finals Most Valuable Player (MVP) award. The victory capped a remarkable playoff run that showcased resilience,…
…Enugu records highest enrolment, Zamfara lowest despite Federal Government incentives A total of 15,281 candidates sat for the 2026 National Common Entrance Examination (NCEE) for admission into Federal and State Technical Colleges across Nigeria, according to the National Business and Technical Examinations Board (NABTEB). The figure represents a significant decline from the 29,260 candidates who registered for the examination in 2025, raising concerns about enrolment levels in the country’s technical and vocational education system despite ongoing government efforts to promote Technical and Vocational Education and Training (TVET). Mohammed Aminu Mohammed, Registrar and Chief Executive Officer of NABTEB, attributed the drop…
Members of The Eternal Kingdom Wealth Ministry (EKWM) gathered on Saturday, June 13, 2026, for the church’s Spiritual Illumination Service (SIS), where the Lead Pastor, Pastor Monday Irenoa, delivered a thought-provoking message titled: “Success: The Enemy of Divine Advancement.” In a sermon that challenged conventional thinking, Pastor Irenoa warned that while success is often celebrated, it can become a subtle obstacle to God’s ultimate purpose for believers. According to him, many people are not advancing spiritually because they have become trapped by their present successes. “Many ignore God’s grace because of success,” he said. “You were not created merely to…
…Ranger’s success is more than a football story – it is a masterclass in vision, resilience, and strategic brand building. By Elvis Eromosele When Afrinvest signed a sponsorship deal with Rangers International FC in October 2023, few could have predicted the scale of the transformation that would follow. At the time, the partnership appeared to be little more than a corporate social responsibility initiative. Rangers were not among Nigeria’s dominant clubs, and Afrinvest’s expectations were modest. The investment firm saw the sponsorship as an opportunity to support a historic institution while generating some goodwill and brand visibility. Today, that partnership…
Every Democracy Day offers an opportunity for reflection. It is a moment to assess how far Nigeria has come, how much progress has been made, and how much remains undone. President Bola Ahmed Tinubu’s June 12, 2026 address sought to do precisely that, honour the heroes of democracy, defend his administration’s policies, and reassure Nigerians that better days lie ahead. The speech was rich in symbolism, history, and optimism. Yet, beyond the rhetoric, it raises critical questions about governance, economic hardship, security, and the state of Nigeria’s democracy. The challenge for the President is that while Nigerians appreciate speeches, they…
The Nigeria Internet Registration Association (NIRA) has expressed concern over the slow adoption of Nigeria’s country code top-level domain, .ng, warning that the trend could weaken efforts to strengthen the nation’s digital identity and online sovereignty. Speaking at the 2026 Nigeria DigitalSENSE Forum on Internet Governance for Development (IG4D), Akinsola Adesanya, NIRA President, represented by Seyi Onasanya, said Nigeria’s domain name penetration remains far below its potential despite more than two decades of managing the .ng registry. According to him, the number of registered .ng domain names is disproportionately low when compared to Nigeria’s estimated population of 240 million people and…
President Bola Ahmed Tinubu has announced plans to confer national honours on 50 distinguished Nigerians in recognition of their contributions to the June 12 pro-democracy struggle and the fight against military rule. The honours, unveiled during the 2026 Democracy Day commemoration, will be bestowed on journalists, activists, lawyers, academics, public figures, and military officers who played significant roles in Nigeria’s journey back to democratic governance. According to the President, the recipients endured detention, harassment, persecution, exile, and other forms of repression during the struggle to restore democracy following the annulment of the June 12, 1993 presidential election. Tinubu said their…
First City Monument Bank (FCMB) Limited has appointed Bismarck Rewane as its new Non-Executive Director and Chairman of the Board of Directors, following approval by the Central Bank of Nigeria. The appointment brings one of Nigeria’s most respected economists and business strategists to the helm of the bank’s board as FCMB positions itself for its next phase of growth. Rewane has more than four decades of experience spanning macroeconomic research, investment banking, financial advisory, and corporate strategy. He is the Managing Director of Financial Derivatives Company Limited, widely regarded as one of Nigeria’s leading economic consulting firms. A Fellow of…