Posts

North'll Benefit Immensely From Tinubu's Proposed Tax Reforms - NEDF

Image
North'll Benefit Immensely From Tinubu's Proposed Tax Reforms - NEDF ...Forum Backs the Tax Reforms Policies Northern Economic Development Forum (NEDF) has allayed fears raised by Northern governors and backed  the new tax reforms policies initiated by President Bola Ahmed Bola Tinubu, saying the North will benefit from the reforms. The Northern Governors had opposed the Tax Reform Bill, and  asked the National Assembly to reject it on grounds that it  will be against the interest of the people of the northern region But the northern based development forum ,which expressed optimism about the reforms said, there is no cause for alarm as the proposed Tax laws as it will help to enhance and modernize Nigeria’s tax landscape. President Bola Tinubu and the Federal Executive Council recently sponsored a bill to restructure and streamline tax processes, establish a unified revenue service, and simplify financial obligations for businesses and citizens. However in a statement by North
Post a Comment
Read more

CBN's Drive for Local Currency Financing

Image
CBN's Drive for Local Currency Financing  By Nasir Dambatta Critics of the Central Bank of Nigeria (CBN) have often voiced concerns regarding its policies and the perceived limitations they impose on the country’s economic growth. However, recent initiatives by the International Finance Corporation (IFC) to boost local currency financing provide a compelling case for the CBN’s proactive role in enshrining progress. The IFC's focus on local currency financing highlights the importance of reducing dependence on foreign currency, mitigating exchange rate risks, and fostering an environment where small and medium-sized enterprises (SMEs) can thrive. This article explores how these five strategic areas reflect the CBN's commitment to fostering a more resilient economy.  *The Need for Local Currency Financing*  Nigeria, like many emerging economies, faces significant challenges due to its reliance on foreign currency financing. Fluctuating exchange rates can create volatility, ma
Post a Comment
Read more