The brewery industry is now facing severe cost pressure as prices of local raw materials rise astronomically undermining their backward integration strategy. Industry stakeholders said the cost pressures coming from sorghum, wheat and others would remain elevated, driven by the impact of rising inflation, insecurity across agricultural belts in the country as well as other…
▪︎ Wale Edun The Federal Government has categorised all electricity companies, including the Generation and Distribution Companies (GenCos and DisCos), as those exempted from the payment of Withholding Tax in the country. This was contained in the new Withholding Tax regulation document signed by the Minister of Finance, Wale Edun. The new Withholding Tax regulation…
The President of the Pharmaceutical Society of Nigeria (PSN), Prof Cyril Usifoh, has conveyed the gratitude of the operators in the sector, to President Bola Tinubu for haven granted zero tariffs, excise duties and VAT specified on pharmaceuticals, machineries, equipment and raw materials. In a statement, Prof said that the tariffs removal will encourage local…
▪︎ECOWAS Office, Abuja . Finance Ministers and Central Bank Governors from the 15 Economic Community of West African States, have advanced plans to launch the single currency initiative, known as the ECO. The ECO is envisioned to propel economic growth and development throughout the West African sub-region, received Nigeria’s endorsement. The single currency is part…
▪︎Dele Alake The Senate is worried about Nigeria missing out of the $110 billion bitumen global market. The apex legislative Chamber, through its Committee on Solid Minerals, made the revelation on the $110 billion global bitumen market during public hearing on a bill seeking for an Act to establish Bitumen Development Commission. The public hearing…
We are thrilled to welcome RMB Nigeria Stockbrokers Limited into the Zedcrest family,” said Adedayo Amzat, CEO, Zedcrest Group.
Withholding Tax is a method of collecting Income Tax in advance, deducted at rates ranging from 5 percent to 10 percent based on the transaction. Returns are due by the 21st of the following month.
To pay salaries on time, to make sure you pay your taxes, you pay your power energy bills, and you follow the rules is an expensive proposition.
Dharkage Empire has been declared the winner of the 2024 National MSME Awards, an annual event organised by the Federal Government to celebrate outstanding indigenous MSMEs.This event is sponsored by the Bank Of Industry (BOI).
A report had earlier said that the Indian steel maker was planning to exit Nigeria, with African Industries and Bhari already bidding.
