Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing...
Although the local economy has continued to recover from the negative impacts of the oil price shock of 2014 and the 2016 recession, more remains to be done to achieve economic diversification. The results of our second Business Barometer: Nigeria CEO Survey show increased confidence among C-suite executives, with 85% expressing positive or...
With Nigeria’s economy growing again in 2018, policymakers are now in a position to move from avoiding problems to making structural changes. One potential change could be the unification of the various exchange rates for the country’s currency, the naira. The multiple rates now available are a legacy of the past years of crisis, which...
On what metrics can the FIRS assess the performance of the Voluntary Assets and Income Declaration Scheme (VAIDS)?
Foreign portfolio investment (FPI) has risen to become the main growth driver of capital inflows to Nigeria. Supported by strong expansion in money market instruments and bonds, FPI inflows recorded double-digit growth in both 2017 and the first half of 2018. While this suggests there is positive investor sentiment and confidence in Nigeria’s...
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