Given that the country’s exports are dominated by hydrocarbons, Nigeria’s agricultural sector provides an estimated 60% of jobs across the nation – a dynamic that is mirrored in many of the states, and Oyo is no exception. Agriculture is currently the main contributor to Oyo State’s economy, comprising 38% of gross state product (GSP) and...
Essentially a free enterprise country, Nigeria allows foreigners to own and operate businesses with minimal restriction. Except where eligible for exemption, all foreign investors are required to be incorporated as a separate entity in Nigeria and, until incorporation, shall not have a place for business in Nigeria other than for the receipt of...
As Nigeria continues to seek ways to diversify its economy, governments and corporate organisations recognise the importance of a dynamic tax system that is not only geared toward fiscal growth but addresses today’s business environment. The government, especially through the Federal Inland Revenue Service (FIRS) and the Joint Tax Board, is adopting...
Over the past five decades development of Nigeria’s education sector has proceeded unevenly. While the government has enacted several initiatives to improve the public school and university systems, ensuring that all citizens have access to high quality, affordable schooling remains a major challenge. With this in mind, in May 2012 the Federal...
The Petroleum Industry Bill (PIB), which is currently before the federal legislature, establishes the legal and regulatory framework, institutions and regulatory authorities for Nigeria’s petroleum industry and stipulates guidelines for operations in the upstream, midstream and downstream sectors.
Known as the “pace setter state”, Oyo is in south-west Nigeria and borders the states of Ogun, Osun and Kwara, as well as Benin. With an extensive interstate road network and the ability to capitalise on high volumes of cross-border activity, the state benefits from a strategic location, enabling companies to receive shipments from the ports of...
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