The Trade Union Congress (TUC) of Nigeria has firmly opposed the proposed increase in Value Added Tax (VAT) from the current rate of 7.5% to 10%, with potential increments to 12.5% and 15% as outlined in the Federal Government’s Tax Reform Bill. The Congress argued that such a move would exacerbate the financial struggles of … Read more
The Nigeria Extractive Industries Transparency Initiative (NEITI) has expressed support for the 2024 Tax Reform Bill currently under debate in the National Assembly, urging lawmakers to consider introducing tax exemptions for small businesses, startups, renewable energy initiatives, and other sustainability-focused projects. This recommendation aims to promote reinvestment and economic growth in Nigeria. In a memo … Read more
Abia-North Senator Orji Uzor Kalu has expressed confidence that the economic reforms introduced by President Bola Tinubu will yield positive results despite current challenges. Speaking during a New Year’s visit to Chief Daniel Eke, a former Abia governorship aspirant of the APC, Kalu emphasized the necessity of revamping outdated laws, some of which are over a … Read more