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KEGOZ MARKET WATCH KEGOZ BULLETIN · 23 OCT 2026 ·UPDATE
  • PMS · Depot average₦1,348/L— ₦0
  • DIESEL (AGO) · Depot average₦1,789/L— ₦0
  • COOKING GAS (LPG) · Depot average₦1,200/kg▲ ₦30
  • BRENT CRUDE · 22 Oct close$113.17/bbl▲ 4%
  • USD/NGN · CBN official · 21 Oct₦1,334.72/$1
  • USD/NGN · Parallel · 23 Oct bulletin₦1,360–1,390/$1
  • DANGOTE PMS · Gantry · 23 Oct bulletin₦1,325/L
  • DANGOTE AGO · Gantry · 23 Oct bulletin₦1,800/L
  • DANGOTE LPG · Depot · 23 Oct₦1,045/kg▲ ₦20
  • NNPC PMS · Abuja pump · 16 Oct₦1,405/L
Source: KEGOZ Daily Trading Intelligence Bulletin, Issue 054. Indicative prices; quote dates vary. Depot-average changes vs Issue 053. Some LPG quotes date from 16–19 Oct; the current median may be higher. Verify with suppliers before trading. Not a live feed.

Tax Ombud Warns Against Arbitrary Levies as Nigeria’s Tax Reforms Begin

The Chief Executive of the Office of the Tax Ombud, Dr John Nwabueze, has warned that arbitrary tax assessments, multiple levies and inconsistent enforcement could undermine public confidence in Nigeria’s new tax reforms.

Nwabueze spoke on Friday at a stakeholders’ engagement at the Ladi Kwali Conference Centre in Abuja, where he urged revenue authorities to protect taxpayers’ rights and ensure the reforms did not impose unlawful burdens on individuals and businesses.

He said the tax reforms, which commenced on January 1, 2026, were designed to simplify compliance, strengthen revenue mobilisation, support eligible small businesses and improve accountability.

However, he stressed that effective implementation, fairness and transparency were essential to achieving the objectives.

Nwabueze said the Office of the Tax Ombudsman, established under the Joint Revenue Board of Nigeria (Establishment) Act 2025, would provide an independent channel for resolving administrative complaints and identifying weaknesses in tax administration.

He disclosed that the office was developing a digital complaint management system, taxpayer education programmes, dedicated call centres and a Taxpayer Charter in English, Hausa, Igbo, Yoruba and Nigerian Pidgin.

Read Also: experts-warn-of-safety-lapses-in-nigerias-private-jet-operations

Also speaking, the Acting Chief Executive Officer of Abuja Markets Management Limited, Onya Ojiji, represented by Faruk Baffa, raised concerns about multiple levies, collections without receipts, unclear tax assessments and unauthorised revenue agents operating in markets across the Federal Capital Territory.

Ojiji pledged support for initiatives to educate traders about their rights, discourage illegal collections and provide feedback to the Tax Ombudsman.

The President of the Chartered Institute of Taxation of Nigeria, Innocent Ohagwa, called for sustained public education on the new tax laws, warning that inadequate understanding of tax obligations could create confusion and weaken compliance.

Similarly, the Senior Special Adviser on Intergovernmental and International Matters of the National Union of Road Transport Workers, Sulaiman Danzaki, complained about repeated tax collections from commercial drivers by different authorities.

Danzaki called for harmonised transport-related taxes, greater transparency and consultations with operators, noting that excessive levies increase operating costs and could ultimately affect passengers.

He said transport operators were willing to pay legitimate taxes but expected proper receipts, accountability and improved services in return.

Nwabueze urged revenue authorities to administer taxes consistently and proportionately, respect lawful exemptions and reliefs, and treat taxpayers with dignity while ensuring compliance with their legal obligations.

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