Nigeria Gazettes New tax laws for businesses
Companies transacting in foreign currency may now pay taxes in naira at official exchange rates.
Regulators
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Taiwo Oyedele defends 5% fuel tax
This is not a new tax. It was first introduced into law in 2007, and the intention was to collect that five per cent and use it to fix roads.
NAFDAC issue Fake products alerts on Promasidor’s Cowbell Milk, cite health risks
The counterfeit products currently in circulation are imitations of the discontinued ‘Our Milk’ packaging and are not manufactured or distributed by Promasidor,” the agency stated.
Four New Operators Enter Nigeria’s Sugar Industry – Bakrin
The four operators which will each develop 100,000-tonne facilities across Nigeria’s agricultural belt are: Brent Foods in Oyo State, Niger Foods in Niger State, Legacy Sugar in Adamawa State, and UMZA in Bauchi State.
Tax Incentives Coming for Manufacturers Using Local Raw Materials – Nnaji
•Chief Uche Nnaji, the Minister of Innovation, Science and Technology The Federal Government is considering the introduction of tax incentives for Nigerian manufacturers who utilise locally sourced materials. Chief Uche Nnaji, the Minister of Innovation, Science and Technology, made this announcement during the 2025 edition of the Nigeria Manufacturing & Equipment and Nigerian Raw Materials…
Global push to end plastics pollution by 2040 nears finish line
The latest Global Trade Update shows that plastic production reached 436 million metric tons worldwide in 2023, with the traded value surpassing $1.1 trillion and accounting for 5% of total merchandise trade.
Bakrin Urges Farmers Association to Invest in Nigeria’s $2bn Sugar Industry
The country’s sugar consumption figures, foreign exchange realities and rising global supply chain uncertainties have made investments in local production more profitable than ever before.
CPPE Urges Sustained Support for High-Performing Sectors and Targeted Assistance for Sectors in Recession
• Dr Muda Yusuf, MD/CPPE The Centre for the Promotion of Private Enterprise (CPPE) has called for ongoing support for high-performing sectors of the economy and targeted intervention for sectors currently in recession. This appeal follows the recently rebased Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS), now based on…
We didn’t Shutdown Tummy Tummy Noodles Factory – NAFDAC
“The Tummy Tummy noodles facility in Anambra State was not sealed by the National Agency for Food and Drug Administration and Control (NAFDAC).” The Director-General of NAFDAC, Prof. Mojisola Adeyeye, made the confirmation on Wednesday in response to an audio recording circulating on social media, falsely claiming that the agency shut down the Tummy Tummy…
IMF to assist FIRS in effectively implementing new tax laws
• Zach Adedeji The International Monetary Fund (IMF) has expressed its commitment to supporting the Federal Inland Revenue Service (FIRS) in implementing new tax laws. Senior Economist Paulo Paz praised FIRS for its progress under Chairman Zacch Adedeji during a mission in Abuja. He emphasised the implications of the new tax laws and the IMF’s…