FG maps 500,000 MSMEs to drive industrial growth, competitiveness
…Disburses over N600bn through BoI to support business By Yinka Kolawole The Federal Government has captured more than 500,000 Micro, Small and Medium Enterprises (MSMEs) in a national database as part of efforts to strengthen industrial development, improve policy planning and enhance Nigeria’s competitiveness in regional and global trade. This is even as over N600 billion has […]
Private sector, financial experts raise alarm over multiple budget system
By Emeka Anaeto, Business Editor and Peter Egwuatu, Assistant Business Editor Private sector operators and financial analysts have stepped up criticism of multiple budget system run by the Federal Government, pointing at the grave consequences to transparence, financial discipline and fiscal responsibility. Recall that in a major move to resolve Nigeria’s persistent “overlapping budget” crisis, […]
‘Why Dangote Cement is cheaper outside Nigeria’
President of Dangote Group, Aliko Dangote, has blamed high taxes and regulatory burdens in Nigeria as the reasons why cement produced by his company is more expensive in the country than outside. Explaining the price differential between exported cement, he said exporting permits his company to avoid a variety of taxes that would dramatically increase production […]
Companies to retain tax holidays for 2yrs under new law
•As tax credits replace tax exemptions By Yinka Kolawole As Nigeria transitions to a new tax regime with effect from January 2026, the 149 companies currently enjoying pioneer status incentives (PSI) have been assured of retaining their tax holidays for at least two more years. Chairman of the presidential tax reform committee, Taiwo Oyedele, disclosed this […]
NDIC, NIBSS partner to speed up depositors’ reimbursement
By Babajide Komolafe The Nigeria Deposit Insurance Corporation (NDIC) and the Nigeria Inter-Bank Settlement System (NIBSS) Plc. are set to formalise a partnership through a Memorandum of Understanding (MoU) aimed at ensuring faster and more efficient reimbursement of depositors in the event of bank failures. The development was disclosed by NDIC Managing Director/CEO, Mr. Thompson Oludare […]
Stock market adds N1.67trn as bullish momentum persists
By Peter Egwuatu Nigerian equities extended their bullish run last week as investors added about N1.67 trillion in value to their portfolios, with the stock market closing higher on a week-on-week basis despite the Yuletide slowdown in trading activities, reflecting sustained confidence in fundamentally strong stocks. Market data showed that investors gained over N1.672 trillion during […]
