Newsletter

Governance Simplified: FRCN’s 2024 Corporate Guidelines for MSMEs 

  • September 30, 2024
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The Financial Reporting Council of Nigeria (FRCN) recently released its 2024 Corporate Governance Guidelines for Micro, Small, and Medium Enterprises (the “Guidelines”). These Guidelines aim to improve the governance framework for Micro, Small, and Medium Enterprises (MSMEs), enhancing their sustainability, access to capital, and overall contribution to Nigeria’s economy.

Newsletter

Proposed Tax Exemptions on Essential Goods and Services: What You Need to Know 

  • September 30, 2024
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On September 2, 2024, the Chairman of the Presidential Committee on Fiscal Policy proposed a tax exemption plan to the Federal Government of Nigeria. The proposal includes removing taxes, such as Value Added Tax (VAT), on essential goods and services, including food, public transportation, housing and other necessities, aiming to alleviate the financial burden on citizens. 

Newsletter

Understanding the New Windfall Tax on Forex Gains

  • August 31, 2024
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Introduction to Windfall Tax A windfall tax is a special tax levied by governments on businesses that earn extraordinarily high profits due to favourable economic conditions, often beyond their typical/normal earnings. These “windfall profits” typically arise from unforeseen market shifts or exceptional conditions that a business did not directly influence. Globally, windfall taxes have been […]

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First Steps in Free Trade: Nigeria’s Inaugural AfCFTA Shipment

  • August 31, 2024
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Introduction to Nigeria’s Trade Milestone On July 16, 2024, Nigeria marked a significant milestone by completing its first shipment under the African Continental Free Trade Area (AfCFTA). This shipment involved ten (10) Nigerian companies, including prominent names like Dangote, Tolaram Group, and Flour Mills Nigeria, exporting locally made products to five (5) countries across East, […]

Newsletter

Closing the Energy Gap in Nigeria – A New Roadmap for Renewable Energy

  • August 31, 2024
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Introduction to the Renewable Energy Roadmap The Rocky Mountain Institute (RMI) and the Global Energy Alliance for People and Planet (GEAPP) have recently introduced an innovative roadmap to revitalize Nigeria’s energy sector. Aimed at generating a 20-gigawatt (GW) renewable energy market by 2034, this strategy focuses on enhancing Distributed Renewable Energy sources (DERs) and battery […]