Amid firms’ exit, stakeholders have charged manufacturers to put in place new measures and cost optimisation strategies to support their growth. Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf

Earlier this year, the Presidential Committee on Tax Reform, chaired by Taiwo Oyedele, proposed four separate bills to modernise the country’s tax system and align it with global best practices.

The newly gazetted withholding tax (WHT) regulations have generated reactions from the business community, with some stakeholders demanding that the exemption turnover ceiling be raised to as much as N200 million to reflect the current reality.

Stakeholders across the real sector have lamented the worsening business environment, saying that the decline in total merchandise trade in Q2 2024, compared to Q1, does not come as a surprise in light of current realities.   

About a week after the fresh spike in the price of petrol, businesses have complained about the inability to cope with the rising energy costs.

Entrepreneurs business owners and industry stakeholders have kicked against the directive from the Federal Competition and Consumer Protection Commission (FCCPC) to traders, who last week, gave traders nationwide, a 30-day ultimatum to reduce the prices of goods or face sanctions.

(FX) rate benchmark to N1,618/$1, stoking concern about the sincerity of the government in addressing the challenges facing manufacturing.    The increase, manufacturers said, is extremely insensitive to their plight, especially at this time when they are asking for concessions. They lamented that despite the hardship they are forced to go through, the government has turned…

The last five weeks have been an agonising period for Small and Medium Enterprises (SMEs), especially artisans – welders, frozen food operators, barbers, among others – due to the disruption in power supply in some parts of the country.