Connect with us

Business

Wealthy Nigerians to Face 25% Personal Income Tax Under New Proposed Law, Says Fiscal Reforms Chairman.√√√Newzspy.

Published

on

In a bold move aimed at enhancing government revenue and ensuring fairness in taxation, Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has revealed that Nigerians earning over N100 million per month could soon be subject to a 25 percent personal income tax rate. The announcement was made during a breakout session at the ongoing 30th Nigeria Economic Summit, held in Abuja on Monday, October 14, 2024.

 

The proposal, if passed by the National Assembly, would impose a higher tax burden on Nigeria’s wealthiest citizens, while relieving lower-income earners of excessive tax pressures. Oyedele stressed the importance of balancing the nation’s fiscal books by ensuring that the rich contribute a fair share to government finances, while also protecting the less affluent from excessive taxation.

 

“If you earn N100 million a month, we’re taking up to 25 percent from the rich people. That’s because we need to balance the books,” Oyedele explained during the session. He pointed out that this move is part of a broader strategy to redistribute the tax burden in a more equitable manner, ensuring that the wealthy bear a larger share of the responsibility for funding government programs and services.

 

Currently, Nigeria’s tax system has been criticized for being skewed, with many wealthy individuals and businesses benefiting from tax loopholes while low-income earners and smaller businesses bear a disproportionate share of the tax burden. The proposed reforms aim to correct these imbalances by ensuring that higher earners contribute more, while relieving smaller businesses and individuals with lower incomes of excessive tax obligations.

 

In addition to the personal income tax hike for high earners, Oyedele also discussed a significant overhaul of the Value Added Tax (VAT) system. He explained that under the current system, businesses bear the cost of VAT on assets they acquire—whether they are building factories, purchasing equipment like laptops, or buying vehicles. This, in turn, raises the overall cost of goods and services, leading to higher prices for consumers.

 

However, once the proposed reforms are fully implemented, businesses will be able to claim 100 percent credit on VAT paid for both services and assets. This will alleviate the financial burden on businesses, reduce their operating costs, and allow them to keep their prices more competitive. Oyedele believes this change will spur greater investment and economic growth by reducing barriers for businesses looking to expand or upgrade their operations.

 

These proposed reforms are a part of a broader fiscal strategy by the Nigerian government to increase revenue and improve the country’s tax system. The government has faced criticism for low tax collection rates, with many experts pointing out that Nigeria’s tax-to-GDP ratio is one of the lowest in the world. Oyedele and his committee have been tasked with developing comprehensive reforms that will help the government generate more revenue without stifling economic growth or burdening vulnerable populations.

 

If the bill is passed, the new tax measures could have far-reaching effects on Nigeria’s economy. Wealthy individuals may be incentivized to explore tax planning strategies to mitigate the impact, while the government’s increased revenue could be used to fund essential services, infrastructure projects, and social programs that benefit the broader population.

 

The announcement has sparked debate among economic experts, business leaders, and policymakers, with some applauding the proposed measures as a necessary step towards fiscal responsibility, while others caution that such reforms must be carefully implemented to avoid discouraging investment and entrepreneurship in the country.

 

As the 30th Nigeria Economic Summit continues, these fiscal reforms are expected to remain a key topic of discussion, with stakeholders closely watching how the government plans to implement these changes and ensure that the benefits are felt across all sectors of the economy. The final outcome will depend on the political will of the National Assembly and the cooperation of key economic players in driving Nigeria towards a more balanced and sustainable fiscal future.

Credit: X/Imran Muhammad, Newzspy.

 

 

Share this:

WhatsApp

Tweet

Share

Save

Like this

NEWZSPY-AAA-2-scaled Wealthy Nigerians to Face 25% Personal Income Tax Under New Proposed Law, Says Fiscal Reforms Chairman.√√√Newzspy.Send your press invite, news, press releases/articles to newzspy25@gmail.com Also, follow us on Twitter @newzspy and on Facebook on facebook.com/newzspy or call the Publisher/Photojournalist on 08068030592.

At Newzspy we are dedicated to delivering high-quality news and information to our readers. We are dedicated to providing our readers with high-quality news and information daily.

 

 

Leave a Reply:

Your email address will not be published. Required fields are marked *

For , Event Coverage, PR, Story/Article Publication & Other Media Services Pls., Send Email To: newzspy25@gmail.com

Please Kindly Visit Our New Online News Web http://newzspy.ng/wp/ To Read More Latest, Health, Politics, Business, Sports, Happenings And Interesting News.

 

MISSION STATEMENT

To provide an exceptional news, balance our stories and shine a positive light on our society.

 

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake. If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

 

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Categories: Arts And Culture, Breaking News, Business, CrimeControl, CSR, EMPOWERMENT, ENLIGHTENMENT, Environment, General News, Headlines, Health, Humanitarian, INTERVIEWS, Judiciary, LEADERSHIP, PERSONALITY, Property, Safety, Security, Technology, TRANSFORMATION Tags: #Abia, #Adamawa, #AkwaIbom, #Algeria, #allLGAallocationspaidToFGaccounts, #Anambra, #Angola, #Argentina, #Australia, #Bangkok, #Bauchi, #Bayelsa, #Belgium, #Benue, #Bharian, #Bolivia, #Borno, #Brazil, #Bulgaria, #Canada, #Chile, #China, #Congo, #Croatia, #CrossRiver, #Cuba, #Delta, #Dubai, #Ebonyi, #Edo#Ekiti, #Enugu, #Europe, #Finland, #Georgia, #Ghana, #Gombe, #Greece, #Guinea-Bissau, #Hungary, #Imo, #India, #Indonesia, #Israel, #Italy, #Jamaica, #Japan, #Jigawa, #JusticeEmmanuelAgim, #Kaduna, #Kano, #Katsina, #Kebbi, #Kogi, #Kuwait, #Kwara, #Lagos, #Laos, #Lesotho, #Liberia, #Libya, #Malaysia, #Mauritania, #Namibia, #Nasarawa, #NewZealand, #Niger, #Norway, #Ogun, #Oman, #Ondo, #Osun, #Oyo, #Pakistan, #Plateau, #Portugal, #Qatar, #Rivers, #Russia, #SaudiArabi, #Sokoto, #SouthAfrica, #StateOfPalestine, #Supremecourt, #Switzerland, #Taraba, #Thailand, #Togo, #Turkey, #U.S, #Yobe, #Zamfara @jidesanwoolu @drobafemihamzat @Lamataonline @gbenga_omo @gboyegaakosile @BSaluHundeyin @Mr_JAGs #LASG #AGreaterLagosRising @NigeriaGov @NGRSenate @Ho

useNGR @TradeInvestNG. #Flip #Filminthepark

Share this content:

Art and Life

CSR-in-Action Converges Industry Leaders to Drive Dialogue on Green Transition at the 13th SITEI Conference.√√√ Newzspy.

Published

on

CSR-in-Action Group, a leading voice in sustainability advocacy, convened top industry stakeholders, policymakers, and international experts at the 13th Sustainability in the Extractive Industries (SITEI) Conference, held recently at the Ford Foundation in Lagos.

 

The event, themed“Extractives for Green Growth: The Strategic Role of Extractives in the Just Transition into an Inclusive Green Economy”, examined the transformative potential of extractive industries in the green economy transition, spotlighting Africa’s unique challenges and opportunities in achieving sustainable economic development through innovation and inclusivity.

 

Bekeme Masade-Olowola, Chief Executive and Convener of SITEI, opened the proceedings by underlining CSR-in-Action’s commitment to fostering sustainable change in Nigeria’s extractive industries. “Growth can best be achieved through interdependence and adaptive innovation,” she stated. “At CSR-in-Action, we have embraced cultural humility and deep respect for all stakeholders, a necessity in the extractives sector, where host communities are significantly impacted by the just transition. This respect brings rewards not only for today but for years to come.”

 

Delivering the keynote address, Dr. ChiChi Aniagolu-Okoye, Regional Director of Ford Foundation West Africa, called for an African-centric approach to green energy. “Transitioning from fossil fuels to green energy is pivotal, and we must approach it through an African lens. Africa’s transition is not an end to extraction but a shift that maintains autonomy and enables economic control,” she stated, underscoring the continent’s need to leverage its resources for long-term growth.

 

In an engaging first panel titled, “Multi-Stakeholder Engagement in Policy Development for the Shift to Green Growth,” Olumide Idowu, Executive Director of International Climate Change Development Initiative Africa, led discussions with prominent figures including Dr Victoria Gbadegesin of Cambridge University, Lucy Okeke from the National Midstream and Downstream Petroleum Regulatory Authority, Dele Ayanleke of the Miners Association of Nigeria, and Dr Bunmi Akinlade from the Lagos State SDG Office. The panellists explored Nigeria’s energy transition potential, with speakers underscoring how local solutions could drive cleaner, more sustainable energy initiatives.

 

A pivotal moment was the lightning talk by Dr Gbadegesin, who presented insights from her research on Earth Women, CSR-in-Action’s award-winning documentary that highlights the economic impact of extraction activities on women in host communities. Her findings revealed that women in these regions often suffer economically when extraction begins, leading to calls for green job creation, gender-responsive climate policies, and expanded access to renewable energy sources.

 

The second panel, “Innovative Financing Models for Green Extractive Projects in Africa,” moderated by Abbas Agbaje, CEO of ImpactCrest, included Foluke Micheal, CEO of Caterina D’Medici Africa; Dr Babatunde Ajayi of the Lagos State Environmental Protection Agency; Bankole Oloruntoba, CEO of Nigeria Climate Innovation Center; and Lookman Martins, Group Head of Access Bank’s Commercial Banking Division. The discussion showcased novel financial strategies essential for green economic initiatives and addressed the challenges of creating sustainable and profitable financing models.

 

The Conference’s third panel, “Resource Curse: Solutions for an African Extractive Renaissance,” brought together speakers from across Africa and North America to consider alternatives for sustainably managing natural resources. Moderated by Ms Achare Takor, Head of Intellectual Property Practice at Centurion Law Group, panellists included Georgia Mutagahywa, Corporate Communications and Country Liaison Manager; Dr Pete Hollings, NOHFC IRC Chair in Mineral Exploration at Lakehead University, Ontario; and Titus Arannilewa, Assistant General Manager, HSE & ESG at North South Power. This panel addressed how African nations might redefine their resource management approaches to ensure more equitable economic outcomes.

 

Dr Hollings’s Talk, “Sustainable Mining: The Canadian Experience,” resonated with many, as he addressed Canada’s strides and challenges in responsible mining. “Despite Canada’s advancements, achieving true transparency and avoiding superficial greenwashing remains challenging. Sustainable mining should involve zero-footprint goals, green technology, and renewable power sources, but we must also protect indigenous lands and cultures,” he said.

 

Culminating the Conference was the SITEI Green Financing Solution Competition pitch, where finalists Taiwo Adewole and Favour Onsachi presented innovative solutions to the financial hurdles of green economies. With 87% of the online votes, Taiwo Adewole emerged as the winner and was awarded ₦250,000, while Favour Onsachi received a special recognition plaque. Both finalists will also benefit from media promotion opportunities to showcase their ideas.

 

The 13th SITEI Conference reinforced CSR-in-Action’s dedication to fostering critical discourse and collaboration that drives sustainable advancements in Nigeria’s extractive industries, propelling Africa towards a greener, fairer economic future. The event was supported by the Ford Foundation, Access Bank, and Pistis Life and Leadership Institute, alongside key partners such as NEITI, the Ministry of Solid Minerals Development, Zenera Consulting, and the Miners Association of Nigeria.

 

CSR-in-Action continues to play a leading role in catalysing constructive dialogue and driving actionable solutions for a sustainable future in Nigeria’s extractive industries. Through the SITEI Conference, CSR-in-Action remains committed to uniting diverse voices and galvanising industry transformation that aligns with global sustainable development goals, underscoring its dedication to ensuring Africa’s extractive industries are both economically productive and environmentally responsible.

 

 

 

About CSR-in-Action Group:

CSR-in-Action Group is a sustainability-driven global consortium with a presence in Nigeria, Canada, and internationally. We specialise in consulting, advocacy, and training services, focusing on organisational development, corporate governance, and sustainability management. Our mission is to deliver solutions for sustained business development through ethical professionalism, flexibility, innovation, and global partnerships.

 

 

 

 

Share this:

WhatsApp

Tweet

Share

Save

Like this

FB_IMG_1729282500236 CSR-in-Action Converges Industry Leaders to Drive Dialogue on Green Transition at the 13th SITEI Conference.√√√ Newzspy.Send your press invite, news, press releases/articles to newzspy25@gmail.com Also, follow us on Twitter @newzspy and on Facebook on facebook.com/newzspy or call the Publisher/Photojournalist on 08068030592.

At Newzspy we are dedicated to delivering high-quality news and information to our readers. We are dedicated to providing our readers with high-quality news and information daily. 

 

 

Leave a Reply:

Your email address will not be published. Required fields are marked *

For , Event Coverage, PR, Story/Article Publication & Other Media Services Pls., Send Email To: newzspy25@gmail.com 

Please Kindly Visit Our New Online News Web www.newzspy.ng To Read More Latest, Health, Politics, Business, Sports, Happenings And Interesting News.

 

MISSION STATEMENT 

To provide an exceptional news, balance our stories and shine a positive light on our society.

 

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake. If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

 

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Categories: Arts And Culture, Breaking News, Business, CrimeControl, CSR, EMPOWERMENT, ENLIGHTENMENT, Environment, General News, Headlines, Health, Humanitarian, INTERVIEWS, Judiciary, LEADERSHIP, PERSONALITY, Property, Safety, Security, Technology, TRANSFORMATION Tags: #Abia, #Adamawa, #AkwaIbom, #Algeria, #allLGAallocationspaidToFGaccounts, #Anambra, #Angola, #Argentina, #Australia, #Bangkok, #Bauchi, #Bayelsa, #Belgium, #Benue, #Bharian, #Bolivia, #Borno, #Brazil, #Bulgaria, #Canada, #Chile, #China, #Congo, #Croatia, #CrossRiver, #Cuba, #Delta, #Dubai, #Ebonyi, #Edo#Ekiti, #Enugu, #Europe, #Finland, #Georgia, #Ghana, #Gombe, #Greece, #Guinea-Bissau, #Hungary, #Imo, #India, #Indonesia, #Israel, #Italy, #Jamaica, #Japan, #Jigawa, #JusticeEmmanuelAgim, #Kaduna, #Kano, #Katsina, #Kebbi, #Kogi, #Kuwait, #Kwara, #Lagos, #Laos, #Lesotho, #Liberia, #Libya, #Malaysia, #Mauritania, #Namibia, #Nasarawa, #NewZealand, #Niger, #Norway, #Ogun, #Oman, #Ondo, #Osun, #Oyo, #Pakistan, #Plateau, #Portugal, #Qatar, #Rivers, #Russia, #SaudiArabi, #Sokoto, #SouthAfrica, #StateOfPalestine, #Supremecourt, #Switzerland, #Taraba, #Thailand, #Togo, #Turkey, #U.S, #Yobe, #Zamfara @jidesanwoolu @drobafemihamzat @Lamataonline @gbenga_omo @gboyegaakosile @BSaluHundeyin @Mr_JAGs #LASG #AGreaterLagosRis

ing @NigeriaGov @NGRSenate @HouseNGR @TradeInvestNG. #Flip #Filminthepark

Share this content:

Continue Reading

Art and Life

SystemSpecs Founder John Obaro Bags Honorary Doctorate for Trailblazing Impact in Tech Innovation.√√√Newzspy.

Published

on

Photo Caption: Celebrating Trailblazing Leadership L-R: Ms Yemi Adeyinka, Team Lead, Eaglecrest Legal Consult, Lagos State; Matthew Ashimolowo, Chancellor, Kings University; Dr. John Tanimola Obaro, Founder and Group Managing Director, SystemSpecs Holdings Limited; Mr Paul Alaje, Senior Economist and Partner, SPM Professionals, Abuja; and Professor Adenike Kuku, Vice-Chancellor, Kings University, during the conferment of Dr Obaro’s Honorary Doctorate Degree in Science (D.Sc.) at the 5th and 6th Combined Convocation Ceremony at Kings University, Odeomu, on Friday, 25 October 2024.

SystemSpecs Founder John Obaro Bags Honorary Doctorate for Trailblazing Impact in Tech Innovation.√√√Newzspy.

DEL_2784-scaled SystemSpecs Founder John Obaro Bags Honorary Doctorate for Trailblazing Impact in Tech Innovation.√√√Newzspy.Pastor Matthew Ashimolowo, Chancellor of Kings University and Senior Pastor of Kingsway International Christian Centre, confers an honorary Doctor of Science (D.Sc.) degree on John Tanimola Obaro, Founder and Group Managing Director of SystemSpecs Holdings Limited, at Kings University, Odeomu, Osun State.

In a notable acknowledgement of his transformative contributions to Nigeria’s technology landscape, John Tanimola Obaro, the Founder and Group Managing Director of SystemSpecs Holdings Limited, has been honoured with an honorary Doctor of Science (D.Sc.) degree by Kings University, Odeomu, Osun State. This distinguished award highlights Obaro’s pioneering impact on technological innovation and his outstanding leadership within the industry, celebrating a career dedicated to advancing digital transformation and empowering future generations of innovators.

 

The honour was conferred during Kings University’s 5th and 6th Combined Convocation Ceremony on Friday, October 25, 2024, marking a significant milestone in Dr. Obaro’s illustrious career. His journey, marked by relentless dedication, has not only reshaped Nigeria’s digital landscape but has also influenced technological advancements in the country. Through his leadership at SystemSpecs Holdings Limited, Dr. Obaro has consistently championed innovation, fostering a culture of creativity and progress within the software tech industry.

DEL_2783-scaled SystemSpecs Founder John Obaro Bags Honorary Doctorate for Trailblazing Impact in Tech Innovation.√√√Newzspy.

Presenting the distinguished award, Pastor Matthew Ashimolowo, Chancellor of Kings University and Senior Pastor of Kingsway International Christian Centre, commended Dr. Obaro’s impactful contributions to technology. He praised Dr. Obaro’s commitment to regional growth and development, recognizing him as a visionary whose work continues to drive progress and inspire future generations of innovators.

 

Dr. Obaro’s transformative leadership at SystemSpecs, one of Africa’s premier software technology powerhouses, has left an indelible mark on the digital landscape of Nigeria and beyond. Under his guidance, SystemSpecs has pioneered solutions that drive growth and foster innovation, notably through its flagship e-payment platform, Remita, as well as its Human Resource management application, HumanManager. These groundbreaking products empower governments, businesses, and individuals to harness technology as a powerful tool for streamlining financial transactions and human resource management, setting new standards in the industry.

 

SystemSpecs extends its impact through its forward-thinking subsidiaries namely Remita Payment Services Limited (RPSL), HumanManager Limited (HML), SystemSpecs Technology Services Limited (STSL) and SystemSpecs Deelaa Limited. STSL offers bespoke technology solutions and consulting services tailored to meet the unique challenges of the African market, while SystemSpecs Deelaa delivers eCommerce tools to drive business growth, provides efficient travel solutions, and offers diverse entertainment options. Together, these entities embody SystemSpecs’ commitment to expanding access to technology-driven success across various sectors, reflecting a dedication to regional advancement and sustainable progress. During the event, Dr. Obaro delivered a lecture titled “Navigating the Digital Era: Embracing Creativity and Unlocking the Boundaries of Technology,” in which he emphasised the importance of creativity in the ever-evolving digital world. He encouraged the graduands to explore new possibilities within technology, saying:

 

“As we navigate this digital age, creativity becomes the key to unlocking boundaries and pushing the frontiers of technology. Innovation is not confined to traditional tech sectors; rather, it can benefit several fields seamlessly. The integration of technology in areas like law, medicine, and engineering opens unprecedented pathways for growth and success. Our capacity to innovate and embrace the opportunities before us will define not just our future, but that of generations to come.”

 

He also advised the graduating students to embrace the responsibility of innovation, emphasising that the future hinges on their courage to push boundaries and create transformative change. “As you enter this next chapter, remember that each of you owes humanity a debt of innovation. You are the inheritors of a legacy, with the tools to build on past achievements and the responsibility to chart new courses for progress. Make excellence your calling card as you step into new spaces, owning your narrative and pushing beyond boundaries, because the world is watching,” remarked Dr Obaro.

 

The convocation ceremony brought together notable figures from various sectors, including distinguished awardees Mr. Paul Alaje, Senior Economist and Partner at SPM Professionals, Abuja, and Ms. Yemi Adeyinka, Team Lead at Eaglecrest Legal Consult, Lagos State. Both were honored with Awards of Excellence in recognition of their outstanding achievements and contributions within their respective fields, adding to the significance of the event.

 

In his address to the graduating class, Pastor Matthew Ashimolowo encouraged them to recognize the abundant opportunities within Nigeria, a nation he described as rich with potential for those ready to innovate. “There is serious unemployment everywhere in the world; it is your creativity that companies want to hire you for. There is money in Nigeria, and you can find it by making a difference through creativity, innovation, the digital world, and business ideas,” he emphasized. “If anybody tells you there is no money in Nigeria, they lie to you. Nigeria is at a crossroads with a record number of graduates without jobs. Look into the horizon. It’s hard for anyone to promise you anything better than what you see for yourself.”

 

Expressing his heartfelt gratitude to Kings University for the prestigious honor, Dr. Obaro also took the opportunity to acknowledge the unwavering support of his family and the talented team at SystemSpecs. He remarked, “I am deeply honoured to receive this recognition, and I dedicate this award to the many innovators who continue to shape Africa’s digital ecosystem. This recognition is as much a testament to the passion and dedication of the incredible minds I have had the privilege of working with.”

 

Dr. Obaro’s words reflected his belief in collaborative success and his commitment to advancing technology across the continent through a shared vision of innovation and progress.

 

The Group Managing Director of SystemSpecs, Dr. John Tanimola Obaro, is a distinguished alumnus of Ahmadu Bello University, where he earned his Bachelor’s degree in Computer Science and Mathematics in 1979. He furthered his academic journey with an MBA from the University of Lagos in 1981, followed by the Chief Executive Program at Lagos Business School in 1999. His dedication to the advancement of Nigeria’s tech industry was also recognized by Trinity University in 2024, which awarded him an Honorary Doctorate in Computing and Information Technology for his pioneering contributions to the software sector.

 

Dr. Obaro’s professional affiliations underscore his impact across policy, finance, and technology. He is a Fellow of the Centre for African Policy Development and Research in Glasgow, Scotland, a Fellow of the Chartered Institute of Bankers of Nigeria, and a Fellow of the Nigeria Computer Society. His visionary leadership at SystemSpecs has been instrumental in driving technological advancements and shaping the future of digital payments and human capital management across Africa, reinforcing his influential role within the continent’s technology landscape.

 

About SystemSpecs

 

SystemSpecs is a leading technology group that has operated in Nigeria and other African countries for over 33 years. The company invests in and manages software technology companies through leadership expertise, support services, and advisory. Its mission is to empower businesses driving innovation and growth by delivering strategic expertise across its subsidiaries: Remita Payment Services Limited (RPSL), HumanManager Limited (HML), SystemSpecs Technology Services Limited (STSL), and SystemSpecs Deelaa Limited.

 

Share this:

WhatsApp

Tweet

Share

Save

Like this

FB_IMG_1729282500236 SystemSpecs Founder John Obaro Bags Honorary Doctorate for Trailblazing Impact in Tech Innovation.√√√Newzspy.Send your press invite, news, press releases/articles to newzspy25@gmail.com Also, follow us on Twitter @newzspy and on Facebook on facebook.com/newzspy or call the Publisher/Photojournalist on 08068030592.

At Newzspy we are dedicated to delivering high-quality news and information to our readers. We are dedicated to providing our readers with high-quality news and information daily. 

 

 

Leave a Reply:

Your email address will not be published. Required fields are marked *

For , Event Coverage, PR, Story/Article Publication & Other Media Services Pls., Send Email To: newzspy25@gmail.com 

Please Kindly Visit Our New Online News Web www.newzspy.ng To Read More Latest, Health, Politics, Business, Sports, Happenings And Interesting News.

 

MISSION STATEMENT 

To provide an exceptional news, balance our stories and shine a positive light on our society.

 

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake. If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

 

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Categories: Arts And Culture, Breaking News, Business, CrimeControl, CSR, EMPOWERMENT, ENLIGHTENMENT, Environment, General News, Headlines, Health, Humanitarian, INTERVIEWS, Judiciary, LEADERSHIP, PERSONALITY, Property, Safety, Security, Technology, TRANSFORMATION Tags: #Abia, #Adamawa, #AkwaIbom, #Algeria, #allLGAallocationspaidToFGaccounts, #Anambra, #Angola, #Argentina, #Australia, #Bangkok, #Bauchi, #Bayelsa, #Belgium, #Benue, #Bharian, #Bolivia, #Borno, #Brazil, #Bulgaria, #Canada, #Chile, #China, #Congo, #Croatia, #CrossRiver, #Cuba, #Delta, #Dubai, #Ebonyi, #Edo#Ekiti, #Enugu, #Europe, #Finland, #Georgia, #Ghana, #Gombe, #Greece, #Guinea-Bissau, #Hungary, #Imo, #India, #Indonesia, #Israel, #Italy, #Jamaica, #Japan, #Jigawa, #JusticeEmmanuelAgim, #Kaduna, #Kano, #Katsina, #Kebbi, #Kogi, #Kuwait, #Kwara, #Lagos, #Laos, #Lesotho, #Liberia, #Libya, #Malaysia, #Mauritania, #Namibia, #Nasarawa, #NewZealand, #Niger, #Norway, #Ogun, #Oman, #Ondo, #Osun, #Oyo, #Pakistan, #Plateau, #Portugal, #Qatar, #Rivers, #Russia, #SaudiArabi, #Sokoto, #SouthAfrica, #StateOfPalestine, #Supremecourt, #Switzerland, #Taraba, #Thailand, #Togo, #Turkey, #U.S, #Yobe, #Zamfara @jidesanwoolu @drobafemihamzat @Lamataonline @gbenga_omo @gboyegaakosile @BSaluHundeyin @Mr_JAGs #LASG #AGreaterLagosRising @Nigeri

aGov @NGRSenate @HouseNGR @TradeInvestNG. #Flip #Filminthepark

Share this content:

Continue Reading

Business

Nigeria Engages IMF on Growth and Reform Strategies: A Crucial Step Toward Economic Sustainability.√√√Newzspy.

Published

on

In a significant move aimed at boosting Nigeria’s economic trajectory, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, commenced his participation at the IMF Annual Meetings in Washington DC with a pivotal discussion involving the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva. This meeting also saw the attendance of the Governor of the Central Bank of Nigeria (CBN), Dr. Yemi Cardoso, reflecting the Nigerian government’s commitment to addressing its economic challenges head-on.

 

The talks centered around Nigeria’s economic growth prospects and the ongoing reforms under the leadership of President Bola Tinubu. One of the critical issues highlighted during the discussions was the need to strengthen social protection systems to cushion vulnerable populations from the adverse effects of economic shifts, particularly in the context of ongoing reforms. This comes as Nigeria faces significant socioeconomic challenges, including inflationary pressures, unemployment, and a fragile fiscal environment.

 

Mr. Edun and Dr. Cardoso both emphasized the notable progress made in President Tinubu’s reform agenda. These reforms, which include subsidy removals, a more unified exchange rate regime, and efforts to stimulate investments in critical sectors, are seen as essential steps toward stabilizing Nigeria’s macroeconomic environment. The Tinubu administration has also introduced initiatives aimed at improving governance, fostering transparency, and creating a more business-friendly environment, all of which were discussed during the meeting.

 

Furthermore, the meeting with the IMF’s leadership signals Nigeria’s intention to deepen its partnership with international financial institutions as it seeks technical and financial support to navigate its economic reforms. The collaboration between Nigeria and the IMF is expected to help the country access necessary funds and expertise to support the ongoing economic transformation.

 

Throughout the week, further discussions are set to focus on Nigeria’s long-term commitment to advancing sustainable economic development. Key areas of interest will likely include fiscal reforms, debt management, and enhancing the ease of doing business. The IMF’s technical assistance will also be crucial as Nigeria seeks to implement policies that will improve the living standards of its citizens while maintaining economic stability.

 

The engagement with the IMF represents a critical step for Nigeria as it strives to balance immediate fiscal pressures with the need for long-term growth. President Tinubu’s administration is hopeful that these conversations will lead to stronger support for its economic vision, ensuring that Nigeria remains on the path toward sustainable growth and development.

 

As Nigeria continues its engagement with the IMF and other global partners, stakeholders and citizens alike will be keenly observing how these meetings translate into actionable steps that can help steer the country toward a more prosperous future.

 

Credit: X/Federal Ministry of Finance, Newzspy.

 

 

Share this:

WhatsApp

Tweet

Share

Save

Like this

FB_IMG_1729282500236 Nigeria Engages IMF on Growth and Reform Strategies: A Crucial Step Toward Economic Sustainability.√√√Newzspy.Send your press invite, news, press releases/articles to newzspy25@gmail.com Also, follow us on Twitter @newzspy and on Facebook on facebook.com/newzspy or call the Publisher/Photojournalist on 08068030592.

At Newzspy we are dedicated to delivering high-quality news and information to our readers. We are dedicated to providing our readers with high-quality news and information daily.

 

 

Leave a Reply:

Your email address will not be published. Required fields are marked *

For , Event Coverage, PR, Story/Article Publication & Other Media Services Pls., Send Email To: newzspy25@gmail.com

Please Kindly Visit Our New Online News Web www.newzspy.ng To Read More Latest, Health, Politics, Business, Sports, Happenings And Interesting News.

 

MISSION STATEMENT

To provide an exceptional news, balance our stories and shine a positive light on our society.

 

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake. If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

 

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Categories: Arts And Culture, Breaking News, Business, CrimeControl, CSR, EMPOWERMENT, ENLIGHTENMENT, Environment, General News, Headlines, Health, Humanitarian, INTERVIEWS, Judiciary, LEADERSHIP, PERSONALITY, Property, Safety, Security, Technology, TRANSFORMATION Tags: #Abia, #Adamawa, #AkwaIbom, #Algeria, #allLGAallocationspaidToFGaccounts, #Anambra, #Angola, #Argentina, #Australia, #Bangkok, #Bauchi, #Bayelsa, #Belgium, #Benue, #Bharian, #Bolivia, #Borno, #Brazil, #Bulgaria, #Canada, #Chile, #China, #Congo, #Croatia, #CrossRiver, #Cuba, #Delta, #Dubai, #Ebonyi, #Edo#Ekiti, #Enugu, #Europe, #Finland, #Georgia, #Ghana, #Gombe, #Greece, #Guinea-Bissau, #Hungary, #Imo, #India, #Indonesia, #Israel, #Italy, #Jamaica, #Japan, #Jigawa, #JusticeEmmanuelAgim, #Kaduna, #Kano, #Katsina, #Kebbi, #Kogi, #Kuwait, #Kwara, #Lagos, #Laos, #Lesotho, #Liberia, #Libya, #Malaysia, #Mauritania, #Namibia, #Nasarawa, #NewZealand, #Niger, #Norway, #Ogun, #Oman, #Ondo, #Osun, #Oyo, #Pakistan, #Plateau, #Portugal, #Qatar, #Rivers, #Russia, #SaudiArabi, #Sokoto, #SouthAfrica, #StateOfPalestine, #Supremecourt, #Switzerland, #Taraba, #Thailand, #Togo, #Turkey, #U.S, #Yobe, #Zamfara @jidesanwoolu @drobafemihamzat @Lamataonline @gbenga_omo @gboyegaakosile @BSaluHundeyin @Mr_JAGs #LASG #AGreaterLagosRising @NigeriaGov @NGRSenate @HouseNGR

@TradeInvestNG. #Flip #Filminthepark

Share this content:

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.