**Naija News Recap: VAT Hits Record N1tn, Meter Refunds Galore, and More** Good morning, Nigeria! As we kick-start the day, let's dive into the top stories making headlines. Yesterday, Nigeria's Value Added Tax (VAT) collection reached a milestone of N1 trillion, marking a historic feat under the new sharing formula. Meanwhile, electricity customers are set to receive a whopping N20.33 billion in meter refunds from the Distribution Companies (DisCos). **VAT Hits Record N1tn: A New Era of Sharing** Nigeria's VAT collection has broken a record, rising to N1.08 trillion in January 2026, a significant 18.5 per cent increase from the previous month. The new sharing formula has taken effect, with the Federal Government now receiving 10 per cent, states claiming 55 per cent, and local governments retaining 35 per cent. The new allocation has seen the Federal Government pocket N100.32 billion, states receiving N551.77 billion, and local governments allocated N351.13 billion. **Meter Refunds: N20bn for Electricity Customers** In a major development, the Nigerian Electricity Regulatory Commission (NERC) has ordered DisCos to pay N20.33 billion in outstanding meter reimbursements to customers under the Meter Asset Provider framework. This is a welcome relief for electricity consumers, who will receive the refunds over 12 months from March 1, 2026. The commission has also directed that reimbursements be fully automated on customer accounts, ensuring that DisCos cannot offset the credits against customer legacy debts. **Rivers Assembly Screens Commissioner-Nominees** In Rivers State, the House of Assembly has commenced screening of nine commissioner-nominees forwarded by Governor Siminalayi Fubara. This development comes three weeks after the governor sacked eight commissioners and dismissed all his special advisers. The nominees are expected to undergo thorough screening to ensure they meet the necessary criteria for the positions. **INEC Promotes 2,339 Staff** The Independent National Electoral Commission (INEC) has approved the promotion of 2,339 personnel in its 2025 Senior Staff Promotion Exercise. The exercise saw 82 Chief Officers advance to Assistant Directors, 91 Assistant Directors elevated to Deputy Directors, and 45 Deputy Directors promoted to Directors. Additionally, 2,121 intermediate officers on GL 07–13 have been promoted. In other news, an Ondo couple has