Trade facilitation: Customs unveils digital baggage import declaration
The Nigeria Customs Service, NCS has announced the deployment of a Simplified Baggage Import Declaration System at the Seme Area Command. This marks a new phase in its drive for digital innovation, trade facilitation, and improved passenger clearance processes. The initiative is designed to streamline baggage declaration, reduce clearance time, and enhance transparency for legitimate […]
Capital importation declines 62% to $1.13 bn
*As Foreign Direct Investment rises 140% By Elizabeth Adegbesan Nigeria’s capital importation fell by 62 percent month-on-month, MoM, to $1.13 billion in August from $2.98 billion in July 2025. Nigeria’s Foreign Direct Investment, FDI, increased by 140 percent, MoM, to $120 million in August 2025 from $50 million in the previous month. The Central Bank of […]
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 […]
