Markets Archives - Independent Digital News Network

Tax Reform Chaos: 48 Hours In, Nigeria Enforces a New Regime Amid Law, Trust and Legitimacy Crisis

Barely 48 hours into Nigeria’s new tax regime, controversy has shifted from policy to legitimacy. Allegations that the gazetted tax laws differ from what lawmakers passed have triggered confusion among businesses and citizens, even as President Bola Tinubu insists enforcement must continue. Critics warn Nigeria may already be collecting taxes under a law whose credibility is in dispute.

Nigeria Losing ₦20bn Daily to Port Collapse, Agbakoba Warns as Congestion and Inefficiency Deepen

IDNN2 months ago2 months ago0

Nigeria is losing over ₦20bn daily due to collapsing port infrastructure, inefficiency and severe congestion, maritime expert Olisa Agbakoba warns. He says delays, obsolete systems and logistical gridlock are crippling trade, driving costs up and weakening government revenue as importers and exporters struggle to move cargo efficiently.

Dangote Refinery Cuts Petrol Price to ₦840 as Global Oil Crash Hits Nigerian Market

IDNN2 months ago2 months ago0

The Dangote petrol price ₦840 reduction has rippled across Nigeria’s downstream sector after global crude prices plunged to $62 per barrel. Major depots including AIPEC and NIPCO have matched the new gantry price, sparking fresh debate about pump-price relief and market stability as OPEC+ maintains its production pause into early 2026.

NIGERIAN STOCKS SUFFER BIGGEST ONE-DAY CRASH IN 15 YEARS ON TAX SHOCK

IDNN2 months ago2 months ago0

💣 The Day the Tickers Turned Red At 9:30 a.m., the Nigerian Exchange (NGX) opened with cautious optimism. By noon, the screen had turned blood...

HOUSE OF REPS WARNS EFCC: STOP PROFILING CRYPTO TRADERS AS FRAUDSTERS

IDNN3 months ago3 months ago0

The Nigerian House of Representatives has issued a direct warning to law enforcement agencies, telling them to stop profiling cryptocurrency traders as fraudsters. Lawmakers at Monday’s crypto regulation hearing said the era of “innovation by suspicion” must end — urging the EFCC and NFIU to evolve from intimidation to intelligent oversight.

15% Fuel Import Duty Sparks Economic Shockwave — Marketers Warn of Price Surge, Otedola Backs Tinubu Policy

IDNN3 months ago3 months ago0

Nigeria’s 15% import duty on petrol and diesel has ignited fierce debate across the energy sector. While billionaire investor Femi Otedola applauds the move as a shield for local refiners, independent marketers warn it could send pump prices above ₦1,000 per litre. The presidency insists the measure will stabilise the market and boost energy security.

The Tariff Gamble — Inside Tinubu’s 15% Fuel Import Duty and the War for Nigeria’s Refining Future

IDNN3 months ago3 months ago0

The Federal Government’s approval of a 15% import tariff on petrol and diesel is reshaping Nigeria’s oil market. Beyond the headlines lies a calculated economic gamble to fortify local refining, restore forex stability, and tilt power away from foreign traders

Dangote Assures Stable Fuel Prices Despite 15% Import Tariff

IDNN3 months ago3 months ago0

The Dangote Group has moved to calm public concern, assuring that fuel prices will remain stable despite the Federal Government’s approval of a 15% import tariff on petrol and diesel.

⛽ Fuel Prices Set to Break ₦1,000 Mark as Tinubu Approves 15 % Import Tariff

IDNN3 months ago3 months ago0

Petrol could sell above ₦1,000 per litre after President Tinubu approved a 15 percent ad valorem tariff on fuel imports to protect local refiners. While government insists the duty will stabilise supply and boost revenue, marketers warn it could ignite another price surge and deepen hardship for millions already struggling with record inflation.

Rice Price Crash in Lagos Markets Leaves Traders Counting Losses

IDNN3 months ago3 months ago0

Across major Lagos markets — from Mile 12 to Daleko and Oke-Arin — the aroma of rice has turned sour for traders. A 50kg bag...