Business
Naira Gains Ground Against Dollar as Oil Output Climbs
The naira strengthened to 1,540 per dollar on Thursday as Nigeria's oil production hit a six-month high, easing pressure on the central bank's foreign exchange reserves.
PoliticsBy People's News Editorial Team
Senate Passes Amended Tax Reform Bill After Months of Deadlock
Nigeria's upper chamber passed the long-stalled tax reform legislation Thursday, paving the way for changes that economists say could reshape how businesses are taxed.
Nigeria's Senate on Thursday passed the amended Tax Reform Bill after months of legislative deadlock, a move that could significantly alter the country's fiscal landscape.
The bill, which cleared the upper chamber by 81 votes to 17, introduces changes to VAT distribution among states and modifies income tax thresholds for individuals and corporations.
Senate President Godswill Akpabio described the passage as a turning point. "This is about building a fiscal system that works for every Nigerian, wherever they live," he said.
What this means if you're in the diaspora: Remittances sent home will not be subject to the new VAT provisions under the current text of the bill, a clause diaspora advocates had lobbied hard to preserve. The House of Representatives must now concur before the bill can be sent for presidential assent.
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Diaspora
UK Home Office Tightens Nigerian Student Visa Rules: What You Need to Know
New guidance from the UK Home Office targets dependent applications linked to Nigerian student visas. Here is a plain-language breakdown of what changes, what stays the same, and what to do if you have an application in progress.