Happy New Year!
TWN News
The Week's Top Stories: Jan 1 - Jan 3, 2026
Welcome to 2026! I'm Omotola Oluwashindara, and we start the new year with positive momentum as Nigeria's stock market opens 2026 higher, pushing market capitalization close to N100 trillion. New tax reforms take effect aimed at providing relief to 98% of workers and 97% of small businesses.
Market & Sentiment Overview
NGX All-Share Index (ASI)
▲ 156,492.40
Opening Day 2026: +0.57%
Market capitalization: N99.9 trillion | Approaching historic N100 trillion milestone
2025 closed with impressive 49.17% year-on-year gains
Economy & Markets: A Positive Start
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Nigerian Stock Market Opens 2026 on Bullish Note
Nigeria's equities market began 2026 on a positive footing as the NGX All-Share Index advanced 0.57% (879.40 points) to close at 156,492.40 on the first trading day. Market capitalization climbed to N99.9 trillion, just shy of the historic N100 trillion milestone. FTN Cocoa Processors, Deap Capital, MBENEFIT, ABC Transport, and Alex Plc led the gainers, with several stocks hitting 10% price limits. NGX Group CEO Temi Popoola affirmed the exchange's commitment to deepening market development and strengthening Nigeria's position as Africa's preferred exchange hub.
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Pro-People Tax Reforms Take Effect January 1st
Nigeria's landmark tax reforms officially commenced on January 1, 2026, with the Nigeria Revenue Service (NRS) replacing the Federal Inland Revenue Service. Presidential Committee Chairman Taiwo Oyedele confirmed that 98% of Nigerian workers will either be fully exempt from Pay-As-You-Earn tax or see their burden significantly reduced. Additionally, 97% of small businesses will be exempted from Corporate Income Tax, Value Added Tax, and Withholding Tax. President Tinubu described the reforms as a "once-in-a-generation opportunity" to build a fair, competitive fiscal foundation, emphasizing they are designed to provide relief rather than raise taxes.
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2025 Emerges as Best Market Year Since 2020
The year 2025 proved exceptional for Nigerian equities, with about 40 listed stocks delivering returns exceeding 100%. Foreign portfolio investment more than doubled to N2.03 trillion, a 172.4% year-on-year increase. Fifteen companies now boast market capitalizations exceeding N1 trillion, up from eleven in October. Market analysts at Meristem remain "constructive on equities in 2026, supported by ongoing reforms, improved investor confidence and favourable yield dynamics."
Governance & Development
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President Tinubu's New Year Message: Building Prosperity
In his New Year address, President Bola Tinubu expressed confidence that 2026 will be "a more prosperous year for our nation." He highlighted the momentum sustained on major reforms throughout 2025, including fiscal reset and economic restructuring, emphasizing his administration's commitment to prosperity and shared responsibility.
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Anambra First Lady Celebrates New Year Babies
Dr. Nonye Soludo, Anambra State's First Lady, celebrated the state's New Year babies with generous gifts and cash, highlighting the state's free maternal healthcare services. Similar celebrations occurred in Abia State, where First Lady Priscilla Otti honored the first baby of 2026 with gifts and donations, demonstrating commitment to maternal and child welfare.
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Nigerian Army Foils Bandits' Revenge Attack in Kano
Nigerian Army troops successfully prevented a revenge attack by bandits in Kano's Shanono Local Government Area after a prolonged gun battle. The proactive operation prevented casualties and damage, showcasing improved security coordination.
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United Methodist Church in Nigeria Ends 13-Year Crisis
The United Methodist Church in Nigeria achieved historic reconciliation, ending a 13-year internal crisis. The restructuring includes new conference formations and episcopal areas, marking a fresh chapter for one of Nigeria's largest Christian denominations.
Regional & State News
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APC Expands to 28 States Following Governor Mutfwang's Defection
The All Progressives Congress expanded its dominance to 28 of Nigeria's 36 states following Plateau State Governor Caleb Mutfwang's defection from the PDP. While this consolidates APC's political control, political observers emphasize that democracy requires accountability, inclusive governance, and tangible service delivery regardless of party affiliation.
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Kebbi State Schools Resume January 5th
The Kebbi State Government directed all public and private schools to resume for the second term academic session on Monday, January 5, 2026, ensuring continuity in education delivery.
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Chief of Naval Staff Commends Operation HADIN KAI Troops
The Chief of Naval Staff praised Operation HADIN KAI troops, reaffirming the Nigerian Navy's security commitment to safeguarding the nation's waterways and maritime resources.
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New Chief Medical Director Appointed at Federal Teaching Hospital, Ido Ekiti
Dr. Olagoke Erinomo has been appointed acting Chief Medical Director of the Federal Teaching Hospital, Ido Ekiti, following Prof. Adekunle Ajayi's successful tenure.
Sports & Entertainment
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💚 Our Hearts Are With Anthony Joshua 💚
On December 29th, 2025, British-Nigerian boxing champion Anthony Joshua was involved in a tragic road accident on the Lagos-Ibadan Expressway that claimed the lives of two of his dear friends and team members: Sina Ghami (his strength and conditioning coach) and Kevin Latif Ayodele (his personal trainer).
Anthony Joshua has been released from the hospital and is recovering from minor injuries. President Bola Tinubu personally called AJ to convey condolences and spoke with his mother, offering prayers and support during this difficult time.
From all of us at TWN News, we extend our deepest condolences to Anthony Joshua and the families of Sina Ghami and Kevin Latif Ayodele. We pray that AJ finds peace and strength to deal with this tremendous loss. Our thoughts and prayers are with him during this difficult time. 🙏💔
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JS Darinho Sports Academy: Building Future Champions
JS Darinho Sports Academy continues to nurture young sporting talent in Nigeria, providing world-class training and development programs for aspiring athletes. The academy focuses on building not just skilled players, but well-rounded individuals through sports education. Learn more about their programs and training opportunities.
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UK-Based Nigerian Artist Lumiegee Marks Decade of Musical Evolution
Nigerian artist Lumiegee celebrated ten years of musical journey, showcasing his unique Afropop sound and evolution from 2015 to 2025, contributing to Nigeria's vibrant music scene and global cultural influence.
Social & Cultural Highlights
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President Tinubu Celebrates Notable Birthdays
President Bola Tinubu congratulated his Special Adviser Hadiza Bala-Usman on her 50th birthday, describing her as a dedicated patriot whose public career reflects service and national development commitment. He also celebrated His Majesty Eze Isaac Ikonne, Enyi 1 of Aba, on his 97th birthday and 52nd anniversary on the throne, and Alhaji Saleh Ahmadu, OON, Madaki Lokoja, on his birthday.
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Eyo Festival Organizers Pay Homage to President
Organizers of the prestigious Eyo Festival paid homage to President Tinubu at his Lagos residence in December to herald the forthcoming festival, celebrating Lagos' rich cultural heritage and traditional institutions.
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