President Bola Tinubu has written a letter to the Senate seeking approval to obtain a loan of $800 million from the World Bank to finance the Federal Government’s National Safety Net Programme. The president’s letter titled “Request for Approval of Additional Financing of the National Social Safety Net Programme Scale-up by the National Assembly” was […]
President Bola Tinubu has approved the establishment of a Presidential Committee on Fiscal Policy and Tax Reforms of which the Fiscal Policy Partner and Africa Tax Leader at PriceWaterhouseCoopers (PwC), Mr. Taiwo Oyedele, will serve as Chairman. The committee will also fiscal experts from both the private and public sectors as members and have responsibility […]
The Nigerian Employers’ Consultative Association (NECA) has commended the recent measures adopted by President Bola Tinubu-led administration to create enabling business environment in Nigeria through strategic tax reforms. The association’s Director-General, Mr. Adewale-Smatt Oyerinde, gave the commendation in a statement issued on Thursday following the signing of four executive orders by the President. The Director-General stated: “In this context, […]
A group of civil society organisations (CSOs) in the country committed to anti-corruption drive has flawed the Federal Government on the implementation of the Single Treasury Account (STA), the Open Treasury Portal (OTP) and many other fiscal efficiency initiatives in view of the abuses that characterized their implementation, such as the failure to remit funds […]
Worried about resurfaced long queues in petrol stations nationwide following the declaration by the newly elected President Bola Ahmed Tinubu in his inaugural address that fuel subsidy would be discontinued by the new administration, the Asiwaju Bola Ahmed Tinubu Media Centre has stated that the planned fiscal measure will not be implemented until the end […]
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued seven new regulations to guide operators in Nigeria’s oil and gas industry. The commission’s Chief Executive Officer, Engr. Gbenga Komolafe, who disclosed this in a statement issued on Thursday, clarified that the seven new regulations were aimed at creating a regulatory environment that assures efficiency, predictability, […]
“Fiscal policy measures must seek to ensure a good balance between objectives of revenue generation, boosting domestic production, enhancing the welfare of citizens, promoting economic growth, deepening economic inclusion, facilitating job creation and recognizing societal ethos, beliefs and values.”
“It is therefore insensitive of policy makers to impose a whooping 40% import duty on vehicles in an economy where there is no mass transit system and where vehicle ownership has become a necessity, especially for the middle class”
“The immediate risk is that the domestic wine market would be taken over by imported, and mostly smuggled wine. Ultimately, the Nigerian economy, domestic investors in the sector and the employees of these firms would be the victims of this policy.”
The Supreme Court on Wednesday ordered the Central Bank of Nigeria (CBN) to suspend its current old banknotes’ withdrawal drive aimed at completely withdrawing old Naira notes from circulation effective from this Friday, February 10, nationwide. The apex bank’s ruling was sequel to a suit filed by governors Nasir El-Rufai (Kaduna), Yahaya Bello (Kogi) and […]
The Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has hinged the improved Foreign Direct Investments (FDIs) in Nigeria’s ICT industry on the nation’s large population size and its emerging economic status in the global ecosystem among other factors. The industry expert, who made this remark while speaking at a meeting with […]
The Centre for the Promotion of Private Enterprise (CPPE) has flawed the provisions of the Finance Bill 2022 now undergoing review in terms of the proposed hike in tax rates in almost all sectors of the economy and advised the fiscal authorities to have a re-think on the provisions. The Centre strongly canvassed for the […]