To address the challenges posed by the multiplicity of taxes, and promote a more harmonized taxation framework, the Nigerian government has introduced a suite of legislative proposals aimed at reforming the country’s tax system. Amongst these, is the...
On May 26, 2023, former president, Muhammadu Buhari signed into law the Arbitration and Mediation Act, 2023 (the Act, or AMA 2023), repealing Nigeria’s 35-year-old Arbitration and Conciliation Act Chapter A.18, Laws of the Federation of Nigeria, 2004...
As Nigeria considers significant tax reforms, the future of tax exemptions in Free Trade Zones hangs in the balance. Will the new Tax Bill maintain the tax-free benefits that have fueled investment and economic growth, or will these zones face unprecedented...
The Lagos State Internal Revenue Service (LIRS) recently launched the Eco Fiscal System (EFS), a software integrated into Point of Sale (POS) machines to streamline tax collection in the hospitality industry. While this system promises greater transparency...
On 29th July 2024, the Nigerian government approved a game-changing directive for the oil industry. Starting October 1st, NNPCL will sell crude oil to local refineries in Naira, a move designed to stabilize fuel prices and ease foreign currency pressures....
On 29th July 2024, the Nigerian government approved a game-changing directive for the oil industry. Starting October 1st, NNPCL will sell crude oil to local refineries in Naira, a move designed to stabilize fuel prices and ease foreign currency pressures....
The Lagos State Electricity Bill 2024 promises to reshape the power landscape of Lagos by creating an independent electricity market, reducing reliance on the national grid, and promoting renewable energy. With its focus on regulatory oversight, off-grid...
Africa\'s energy future is at a turning point. The newly established African Energy Bank aims to tackle the continent\'s energy poverty, reduce dependence on foreign capital, and drive sustainable development. Discover how this game-changing institution...
The Nigerian pension industry is increasingly embracing sustainability through the integration of Environmental, Social, and Governance (ESG) practices. With a growing focus on green investments, pension fund administrators (PFAs) are aligning their strategies...
Nearly two decades after the introduction of the Contributory Pension Scheme (CPS), the Nigerian pension industry has witnessed transformative changes. Despite these advancements, persistent concerns remain regarding the value of savings remitted by employers...