Invest in Nigeria

In 2014, when global commodity prices dropped, Nigeria plunged into economic trouble and in 2016 the country faced its first recession in over two decades. Heeding the call to diversify, the Nigerian government rose to the challenge and started to implement a number of initiatives to not only grow its economy but to protect it from similar commodity downswings in the future.

Federal Ministry of Interior provides further directives on the full-automation process for applications

Following our earlier communication on the decision of the Federal Ministry of Interior (“FMI” or “the Ministry”) to automate the application processes for Business Permit/Expatriate Quota and Place of Worship, the Ministry has now communicated 3 September 2018 as the commencement date for the full online automation.

Vacancies for Experienced Consulting Professionals

Position Title: Energy Sector Advisor/ Environment Specialist Direct Report: PMO/Results Management Lead Programme Description Deloitte is leading a power sector transformation programme which has been established by a development agency to support reform within Nigeria’s power sector.

An overview of Nigeria’s 2018 Income Tax (Country by Country Reporting) Regulations

Background The Federal Inland Revenue Service (FIRS) recently released the Income Tax (Country by Country Reporting) Regulations, 2018 (“CbCR Regulations” or “the Regulations”), which marks yet another significant step by Federal Government of Nigeria in its quest to align the Nigerian tax system with outcomes of ongoing international tax reforms.

Nigeria Immigration Service suspends biometrics enrolment and associated charges for Visa on Arrival

The Nigeria Immigration Service has temporarily suspended the biometrics enrolment process and associated $90 charge for Visa on Arrival (VoA). The suspension only applies to the recently introduced biometrics enrolment aspect of the VoA policy.

Analysis of Federal Government of Nigeria’s 2018 Budget

Introduction President Muhammadu Buhari, on Wednesday 20 June 2018, signed the 2018 Appropriation Bill of the Federal Government of Nigeria (FGN) into law. The final assent came 7 months after presenting the Appropriation Bill to a joint session of the National Assembly on 7 November 2017.

The Conversation (2): Millennials Shaping the Future

Millennials (people born between 1977 and 1995) are regarded as a force to propel the future of work and thus they are in a position to transform organisations and by extension an economy. They are a generation who know no other world than that driven by technology, collaboration and connectedness. As they have come into the workplace in an era of exponential technology, they are digital natives, global savvy and leading the way.    These young adults have less inhibitions like generations past, they challenge the status quo, they want in on decision making that affect them, they can be restless but are loyal when their needs are met. As a rule, they refute been described as lazy but see this as adventurous – a certain audacity; they have a different worldview and live in their own world, they have anactive lifestyle and thrive in a ‘sharing economy’, preferring access rather than acquiring…

FIRS issues Nigeria’s Country-by-Country Reporting Regulations

The Federal Inland Revenue Service (FIRS) in exercise of powers conferred on it by Section 61 of the Federal Inland Revenue Service (Establishment) Act No.13 of 2007, and all other powers enabling it, has issued the Income Tax (Country by Country Reporting) Regulations, 2018 (the CbCR Regulations). The CbCR Regulations take effect from 1 January 2018, and form part of the enhanced tax disclosure requirements set out by Action 13 of the Base Erosion and Profit Shifting (BEPS) project. The Regulations aim at providing tax authorities with improved information to enable them better assess international tax avoidance risks. Under the CbCR Regulations, where the Ultimate Parent Entity (UPE) or a Constituent Entity (CE) of a Multinational Enterprise Group (MNE Group) is tax resident in Nigeria, such Nigerian resident entity will be required to file a Country-by-Country Report (CbC Report) with FIRS for an accounting year where the Group has a…

President Buhari signs 2018 Appropriation Bill into law

President Muhammadu Buhari, on Wednesday, 20 June 2018, signed the 2018 Appropriation Bill of the Federal Government of Nigeria (FGN) into law. The final assent came 7 months after the presentation of the 2018 Budget to a joint session of the National Assembly on 7 November 2017. 

Guide to Fiscal Information – Key Economies in Africa 2018

The latest publication of the Guide to Fiscal Information – Key Economies in Africa 2018 is now available to download.