investments

Olomola: Finance Bill Sets Nigeria To Attract Investments

December 18, 2019 5:50 am

Partner and Head, Deal Advisory and Tax Services, KPMG Nigeria, Mr. Ajibola Olomola, in this interview on Arise Television, provides insights on the Finance Bill 2019. Peter Uzoho presents the exerpts:

What’s is the Finance Bill all about and how is it differ from the current tax legislation?

The Finance Bill 2019 is epochal. It is significant that Nigeria is beginning to join the league of nations that moderate their economy by use of fiscal instruments such as the Bill of this nature which makes changes to try to align the micro-economy with the macro-economic direction of the federal …

FG Urged To Eliminate VAT On Capital Market Investments

November 28, 2019 3:50 am

The federal government has been urged to eliminate value added tax on commission and fees paid by investors to stockbrokers while investing in the capital market.

Partner, Financial Service Group, Deloitte Tax Function, Mr. Taiwo Okunade, who made the call at the Sixth Triennial Delegates Conference organised by the Independent Shareholders Association of Nigeria (ISAN) in Lagos, yesterday, said that government must ensure elimination of multiple tax audits currently discouraging investment.

According to him, government must come up with a mechanism for collaboration between the federal government and the state government to reduce multiple tax audits on tax payers.

Speaking …

Foreign Investments In Equities Market Soar To ₦1.2tn

October 23, 2019 3:51 am

Foreign transactions in the Nigerian equities market soared by 97.88 percent from ₦616 billion to ₦1.219 trillion in the last 12 years, figures released yesterday by the Nigerian Stock Exchange (NSE) have shown.

The jump, which is between 2007 and 2018, indicated foreign investors’ preference for the Nigerian equities market.

However, while foreign investors increased their investments, their domestic counterparts’ participation declined in the review period, falling by 66.6 percent from ₦3.556 trillion in 2007 to ₦1.185 trillion in 2018.

In 2018 alone, for instance, foreign transactions accounted for 51 percent while domestic investors accounted for 49 percent. But the …

Shell plans $15bn investments in Nigeria

April 6, 2019 2:49 am

To power over 1.2 million homes with Ohaji gas project

The Shell Petroleum Development Company (SPDC) yesterday said that it would be expending about $15 billion across 24 oil and gas projects in Nigeria in the next five years.
Speaking at 2nd Nigeria Oil and Gas Opportunity Fair (NOGOF), concluded in Yenagoa, Bayelsa State, Managing Director of Shell, Mr. Nosa Okunbor, who spoke on the need for Nigerians to take advantage of the opportunities in the oil industry, also said that the oil giant would, in the next five years, surpass a 70 per cent target in the deployment of

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