Calabar news in brief for January 1: Thursday’s top headlines

Calas Vegas Band Achieves Hat-Trick

The Calas Vegas band has secured its third consecutive victory at the Carnival Calabar street party, marking a significant achievement in the event’s history. This year’s win solidifies their reputation as a dominant force in the competition. The band’s consistent performance and new presentations have captivated audiences and judges alike, setting a high standard for future participants. Their success underscores the lively and competitive spirit of Carnival Calabar, a major social event for the state. Source

NIMET Boosts Weather Forecast

The Nigerian Meteorological Agency (NIMET) is committed to enhancing its weather forecasting capabilities in 2026 to bolster climate resilience across the nation. This initiative aims to provide more accurate and timely weather information, which is critical for sectors such as agriculture, aviation, and disaster management. The agency plans to achieve this through improved technology, data analysis, and staff training. These advancements are expected to help communities in Cross River State and beyond better prepare for and respond to climate-related challenges, thereby mitigating potential losses and promoting sustainable development. Source

New Tax Laws Begin January 1

President Bola Tinubu has confirmed that new tax laws will take effect as scheduled on January 1, 2026. This directive ensures that the planned fiscal reforms will be implemented without delay. The new legislation aims to enhance government revenue and simplify tax administration across the nation. Residents and businesses in Cross River State, like others nationwide, should prepare for these changes, which are expected to effect various financial activities. Further details on the specific provisions and their implications for individuals and corporate entities are anticipated as the commencement date approaches. Source

Nigeria Records BOP Surplus

Nigeria has recorded an overall Balance of Payments (BOP) surplus of $4.60 billion in the third quarter of 2025. This surplus was primarily driven by a significant increase in the current account balance, which rose to $5.16 billion from $2.78 billion in the previous quarter. The capital and financial account also contributed positively, although to a lesser extent. This positive BOP position indicates a healthy inflow of foreign exchange into the country, which can help stabilize the Naira and support financial growth. The Central Bank of Nigeria (CBN) attributed the improvement to increased receipts from oil exports and a rise in non-oil exports. This development is expected to bolster Nigeria’s foreign reserves and provide greater fiscal flexibility for the government. Source

Obudu LG Presents N13.78bn Budget

The Chairman of Obudu Local Government Area has presented a budget of N13.78 billion for the year 2026. This budget prioritizes key sectors including infrastructure development, agriculture, and social services. The allocation aims to drive significant progress and improve the quality of life for residents within the local government area. Specific projects and initiatives within these priority areas are expected to be detailed further as the budget is implemented. Source

FG, IFAD-LIFE-ND Boost Value Chain

The Federal Government, in collaboration with the International Fund for Agricultural Development (IFAD) and the Value Chain Development Programme (VCDP), is set to enhance agricultural value chains from production to export in 2026. This initiative aims to significantly boost the financial potential of Cross River State’s agricultural sector by improving productivity and market access for farmers. The program will focus on key commodities, providing support for post-harvest management, processing, and allowing direct links to export markets. This planned intervention is expected to increase farmer incomes, create employment opportunities, and strengthen the overall agricultural economy of the state. Farmers in Cross River are encouraged to participate and use the resources and training that will be made available through this program. Source