In order to mitigate the economic impact of COVID-19 on Micro, Small and Medium Enterprises (MSMEs) in Nigeria, the National Agency for Food and Drugs Administration and Control (NAFDAC) has reduced tariff for registration of products by small businesses for a three month period. Announcing this during a virtual launch[Read More…]
Tag: business
MTN Nigeria rewards trade partners
Keeping to its tradition of rewarding long-standing partnership, MTN Nigeria recently held its Annual Sales Conference, starting with a forum on January 26, 2019, and culminating in an award ceremony on January 28, 2020. The award ceremony, which took place in Lagos, played host to MTN’s business partners from across[Read More…]
We’ve lost N6bn to demurrage over delay in SONCAP — Clearing Agents
The Association of Nigerian Licensed Custom Agents (ANLCA) says its members have lost over N6 billion to demurrage in two months following inability to access the portal and process Standard Organisation of Nigeria Conformity Assessment Programme (SONCAP). The Vice President of ANLCA, Dr Collins Farinto, told newsmen of the loss[Read More…]
New VAT will affect small businesses
A section of the Nigerian economy which will feel the impact of the recent increase in Value Added Tax from 5% to 7.5% is Micro Small and Medium Enterprises (MSMEs). President Muhammadu Buhari recently signed the Finance Bill which among other things, increased Value-Added Tax (VAT) from 5% to 7.5%[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]