Nigeria to Experience Skyrocketing Food Prices in December, Transporters Warn
Food transporters in Nigeria warn of a sharp rise in food prices in December, citing high fuel costs, extortion, and double taxation on highways. The Amalgamated Union of Foodstuff and Cattle Dealers (AUFCDN) highlights that these challenges have forced many to stop operations, worsening food supply issues. They urge the government to intervene immediately to address these problems and prevent further hardship for Nigerians. Read More
Athena Commentary: The warning by Nigerian food transporters is as a result of systemic issues like high fuel costs, double taxation, and poor road management, which drive up food prices and worsen living conditions. In better-organized countries, governments prioritize efficient logistics, fair taxation, and subsidies to stabilize food supply chains and protect citizens from inflationary shocks. Without swift intervention, Nigeria risks exacerbating food insecurity and economic hardship for its people.
Tax Reform Bills Divide State Governments
The proposed Tax Reform Bills have sparked mixed reactions across Nigeria, with some states supporting them, others outright opposing them, and a few still studying the implications. Critics, including northern leaders, argue the bills could unfairly favor states like Lagos and Rivers, while proponents highlight benefits for small businesses and streamlined tax systems. The presidency insists the reforms aim to modernize tax administration, promote fairness, and alleviate economic burdens, urging public participation to refine the policy. Read More
Athena Commentary: The mixed reactions to Nigeria’s Tax Reform Bills show the country’s struggle with equitable tax distribution, an issue better-managed in advanced economies with clear and transparent frameworks. In successful systems, taxes are simplified, businesses are incentivized, and revenues are shared fairly to reduce regional disparities, ensuring no group feels marginalized. Nigeria can learn from these models by focusing on broader consultations, fairness in allocation, and reforms that support both economic growth and social equity.
EFCC Seizes 753 Abuja Duplexes in Latest Recovery Effort
The Economic and Financial Crimes Commission on Monday announced its largest asset recovery since its establishment. The recovered asset, located in the Federal Capital Territory, is an estate spanning 150,500 square meters and comprising 753 units of duplexes and other apartments. The estate is situated on Plot 109, Cadastral Zone C09, Lokogoma District, Abuja. The recovery followed a ruling delivered on December 2, 2024 by Justice Jude Onwuegbuzie. Read more
Athena Commentary: The EFCC’s recovery of 753 properties is a significant step in Nigeria’s fight against corruption, but it reveals the deep-rooted misuse of public resources that allows such wealth accumulation to go unchecked for years. In more developed countries, stronger institutional checks, transparent asset declaration systems, and robust anti-corruption frameworks often prevent such large-scale abuses. While this recovery is commendable, it also emphasizes the need for proactive measures to stop corruption before it occurs, rather than relying heavily on asset forfeitures afterward.
Judge Issues Bench Warrant for Former AMCON MD, Kuru, Over Alleged Office Charge Abuse
Former AMCON Managing Director Ahmed Kuru and others, including Arik Air’s CEO and a receiver manager, face charges of alleged theft, abuse of office, and fraudulent conversion of Arik Air assets worth billions of naira. The EFCC filed the case based on allegations by Arik’s founder and shareholders, accusing the defendants of unlawful acts such as creating a new company, NG Eagle Limited, for personal gain and destroying valuable aircraft. Following Kuru’s absence in court, the judge issued a bench warrant for his arrest. Read More
Athena Commentary: This case highlights systemic challenges in holding public officials accountable for alleged abuses of office in Nigeria, where delays, absences, and legal loopholes often impede justice. In more developed legal systems, cases like this are typically fast-tracked, with strict penalties for non-appearance and transparent processes to deter corruption. Such efficiency not only preserves public trust but also safeguards economic stability, unlike the recurring mismanagement seen in Nigeria’s aviation and public sectors.
Compiled by Ijeoma Esther Achebe