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Tinubu Intensifies Lobbying Efforts Amid Northern Opposition to Tax Reform Bills
Tinubu Intensifies Lobbying Efforts Amid Northern Opposition to Tax Reform Bills
President Bola Tinubu has ramped up efforts to win support for his administration’s contentious tax reform bills, enlisting emissaries and back-channel negotiations to address concerns from the northern elite. This move comes amid fierce opposition from northern governors and stakeholders who argue that the proposed reforms would disproportionately disadvantage their region.
Lobbying the Northern Elite
According to sources within the Presidency, Tinubu has been consulting influential northern leaders both individually and as groups to garner support for the bills. A senior official, speaking anonymously, revealed that consultations began even before the holidays.
“What I know is that he [President Tinubu] has been consulting with some of the northern elite at an individual level and as groups, even before the holidays,” the source disclosed.
Another insider confirmed that the President is using “back channels” to address contentious aspects of the bills. “He is reaching out through different channels that are available to him to make sure that the grey areas of the bills are smoothened out,” the source said.
Northern Governors Stand Firm
Despite Tinubu’s overtures, the Northern Governors Forum has maintained its staunch opposition to the reforms. The governors are demanding that the bills be withdrawn from the National Assembly to allow for further consultation.
In a communiqué issued on October 28, the forum expressed deep dissatisfaction with the proposed amendments, particularly the shift to a derivation-based model for Value Added Tax (VAT) distribution. They argued that this model, which allocates VAT based on the location of a company’s headquarters, tax office, and where goods or services are consumed, would undermine the economic stability of the northern region.
“The forum notes with dismay the contents of the recent Tax Reform Bills forwarded to the National Assembly. The reforms, particularly the proposed amendment to the distribution of VAT to a derivation-based model, are detrimental to the interests of the north and other sub-nations,” the communiqué read.
Bauchi State Governor Bala Mohammed criticized the reforms, calling them “anti-northern” and warning of potential consequences. “If these policies persist, the northern region will show its true colors in response,” he cautioned during an interview.
Tinubu Stands His Ground
Undeterred by the backlash, Tinubu defended the tax reform bills during a media chat in December. The President emphasized the need for sweeping reforms to address the country’s economic challenges.
“Tax reform is here to stay. We cannot just continue to do what we were doing yesteryears in today’s economy. We cannot retool this economy with the old broken tools,” Tinubu said.
The President also dismissed concerns about the reforms being anti-poor, explaining that vulnerable groups would not be taxed. “This tax reform is pro-poor. All we are asking for is to widen the tax net and bake the cake larger so that we can share a larger meal,” he added.
Looking Ahead
The tax reform bills, introduced to the National Assembly in October 2024, include the Nigeria Tax Bill 2024, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
With Tinubu’s administration doubling down on consultations and the northern governors refusing to budge, the fate of the proposed reforms remains uncertain. The unfolding political tussle highlights the challenges of implementing sweeping policy changes in a country marked by diverse regional interests.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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