Taiwo Oyedele, the Chairman of the Presidential Task Force on Fiscal Policy and Tax Reforms Committee, shares this insight on the Withholding Tax Regulations 2024 now gazetted and published as part of President Bola Tinubu’s economic reforms. How will the new WHT Regulations affect small businesses? Small businesses will enjoy exemptions from withholding tax under the new…
▪︎Dr. Doris Anite -Uzoka, Minister of Industry, Trade and Investment From the ban on styrofoam, popularly known as “take away packs” to Single-Use Plastics (SUP), the Lagos State Government is on the march again to ban pure water and table waters starting January 2025. The state’s Commissioner for Environment and Water Resources, Tokunbo Wahab, revealed…
▪︎File photo of Coca-Cola The U.S. Labor Department’s Bureau of Labor Statistics (BLS) says owing to investments provided by the Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act, over 700,000 new manufacturing jobs have been created and over $910 billion in private manufacturing investments have been announced nationwide in the industries of the future….
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has noted that while the most vulnerable people are paying multiple taxes, the middle, upper class and the politicians are evading tax. The Nation, reported that Oyedele said this on Thursday, during the Integrated National Financing Framework (INFF) Core Working Group Retreat…
The Botswana High Commissioner to Nigeria, Miss Philda Nani Kereng, is pushing for increase bilateral trades between the two countries.She commended the Nigerian governments for doing so much for the Micro, Small and Medium Enterprises (MSMEs). Kereng, who spoke on Monday in Abuja on the occasion of her country’s 58 Independence anniversary, said: ” Currently, the trade…
(Industrial Times) The World Steel Association (Worldsteel) says that Africa produced 1.9 million metric tons of crude steel in August 2024, out of the global 144.8 million metric tons. In Africa, Algeria, Egypt, Libya, Morocco, South Africa and Tunisia are the top steel-producing countries. The Association in its latest Crude steel production chart by region, also…
The Manufacturers Association of Nigeria (MAN) has enjoined the Central Bank of Nigeria to focus on promoting domestic production and economic recovery by allowing time for previous rate increases to take effect before implementing further hikes. MAN made the call in reaction to the September increase in the Monetary Policy Rate (MPR) by 50 basis…
The National Sugar Development Council (NSDC) has commenced talks with the Abuja Chamber of Commerce and Industry (ACCI) for potential collaborations aimed at mobilising about $5 billion to drive investments in the sugar subsector. The proposed agreement followed the visit of ACCI President, Mr. Emeka Obegolu, to the Executive Secretary of NSDC, Mr. Kamar Bakrin,…
The Newly elected President of Nigeria Employers Consultative Association (NECA), Ifeanyi Okoye,has given insight into challenges facing the manufacturing sector leading to the closure of some companies and exit of some multinational companies from Nigeria.The Vanguard Newspaper reported that Okoye said: “There are a lot of issues that are bothering manufacturers in this country.He said: “One…
Today, UNIDO says that it has helped over 400 enterprises around the world to convert their industrial production lines to climate-friendly options and supports the member states with its technical expertise and best practices from its projects. UNIDO Director- General Gerd Müller, disclosed this in a statement to mark the 2024 World Ozone Day. The theme for this year’s…
