As of March 14, 2025, here are the latest updates from Nigeria:

Economic Developments:

Tax Reform Bills Passed: Nigeria's House of Representatives has approved four tax reform bills proposed by President Bola Tinubu to enhance the country's tax system. Notably, the Value-Added Tax (VAT) rate remains at 7.5%, contrary to the proposed increase to 12.5%. Additionally, minimum wage earners are now exempt from personal income tax. These reforms aim to boost revenue and improve fiscal efficiency.

Shell's Divestment: Royal Dutch Shell has finalized the sale of its onshore subsidiary, Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance, a consortium comprising four Nigerian exploration and production firms and one international energy group. This transaction grants Renaissance a 30% stake in the SPDC joint venture.


Health Alert:

Meningitis Outbreak: Authorities have confirmed a meningitis outbreak in Kebbi State, northwest Nigeria, resulting in at least 26 fatalities since late January. Over 200 suspected cases have been reported. In response, medical supplies have been dispatched, and isolation centers established to manage the disease's spread.


Diplomatic Movements:

Ambassadorial Appointments: Eighteen months after recalling all ambassadors, Nigeria is set to appoint new envoys to over 100 diplomatic missions. The delay was primarily due to funding constraints, which are now being addressed. Security services are conducting background checks on potential appointees, with official announcements expected soon.


Social Issues:

Child Labor in Mining: A recent report highlights the troubling trend of children leaving school to work in hazardous gold mines, particularly in central-northern Nigeria. Economic hardships and inadequate educational infrastructure contribute to this issue, with approximately 10.5 million children aged 5 to 14 out of school nationwide.


Cultural Insights:

Exclusive Clubs in Lagos: Lagos boasts several elite private members' clubs catering to the city's affluent, including industrialists, financiers, and politicians. Notable establishments such as the Lagos Polo Club, Gaia Africa, Mìlíkì, and the Capital Club offer exclusive environments for networking and leisure.


Please note that events and developments can evolve rapidly.



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