Vice President Kashim Shettima has stated that the federal government's ongoing tax reforms are specifically designed to improve the lives of Nigerians and reduce the burden on small businesses and low-income earners, rather than impoverish them. According to the vice president, a core aim of these reforms is to eliminate the multiple levies and charges that have long burdened small businesses and ordinary citizens. He emphasized that the reforms would also remove tax burdens on low-income earners, which is intended to help reduce poverty levels across the country.
The Vice President's comments come as he highlighted other gains from the administration's broader economic reform agenda. Shettima pointed to increased foreign exchange reserves and streamlined exchange rates as positive outcomes. He also cited the controversial removal of the fuel subsidy, arguing that this policy had benefited only a few individuals for many years prior to its elimination, framing it as a necessary step for broader economic health.
In a significant development for national reserves, the Central Bank of Nigeria (CBN) has taken delivery of responsibly sourced gold that has been refined to meet the stringent London Bullion Market Association (LBMA) Good Delivery standards. This gold, which was sourced within Nigeria, was aggregated by the Solid Minerals Development Fund (SMDF) through the National Gold Purchase Programme (NGPP). This move brings the CBN's total gold holdings to $3.5 billion, marking a notable step in the bank's strategy to diversify the nation's foreign reserves.
Parallel to these fiscal developments, the power sector has recorded substantial progress in customer metering over the past year. A total of 677,942 new meters were added to installations by the 11 electricity distribution companies within the 12 months of 2025. This development has increased the national metering rate significantly, moving it from 46.57 per cent in December 2024 to 57.27 per cent in December 2025, an increase of 10.7 percentage points.
The data shows that the number of metered customers in Nigeria’s power sector moved closer to its metering target for the first time, rising to 6,966,584 as of December 2025. This represents an increase from the 6,288,642 metered customers recorded in December 2024, resulting in a 10.78 per cent boost in year-on-year growth. The monthly figures also showed strong momentum, with 109,556 customers newly metered in December 2025 alone, up from the 88,592 recorded in the previous month of November.
This acceleration in metering is critical for Nigeria's electricity sector, as it improves billing accuracy, reduces revenue loss for distribution companies, and enhances transparency for consumers. The increase to a 57.27 per cent national metering rate indicates a concerted effort to address one of the long-standing challenges in the power value chain. However, it also highlights that a significant portion of electricity consumers remain without meters, underscoring the need for continued investment and policy focus in this area.
In another indicator of economic activity, a key government revenue command collected ¦ 202.9 billion in 2025, surpassing its annual target by 13%. This performance marks a clear leap from the ¦ 181.01 billion generated in 2024. While the specific command is not named in the verified claims, this increase in revenue collection suggests improved fiscal efficiency and compliance, which could support the government's broader reform objectives and public spending plans.
Together, these developments paint a picture of an administration pushing multiple levers of economic policy. From tax reforms aimed at structural fairness to tangible gains in infrastructure like electricity metering and strategic moves to bolster foreign reserves with domestic gold, the government is presenting a narrative of proactive economic management. The success of these interconnected reforms, however, will ultimately be measured by their impact on the daily lives and economic well-being of ordinary Nigerians, a point underscored by Vice President Shettima's focus on protecting low-income earners from undue burdens.
