Reps Move to Restrict Foreign Vessels in Domestic Coastal Activities The House of Representatives has taken steps to strengthen Nigeria’s shipping sector with a proposed amendment to the Coastal and Inland Shipping (Cabotage) Act, 2003 to restrict operations of foreign vessels in domestic coastal activities. The...

Oil Sector Reforms Attract $17bn Foreign Investments, Says NNPCL The Nigerian National Petroleum Company Limited has revealed that reforms in the oil and gas sector, driven by the enactment of the Petroleum Industry Act 2021 and Executive Orders issued by President Bola Tinubu, attracted about...

Reps Pass Nigerian Insurance Reform Act for Legal, Legislative Framework  The House of Representatives on Wednesday enacted the Nigeria Insurance Industry Reform Act, 2024, to provide for a comprehensive legal and regulatory framework for insurance business in Nigeria. The new Act repealed the Insurance Act, Cap...

AfDB, IITA Sign €5m Deal for 40m Farmers to Boost Agriculture The African Development Bank Group has signed an agreement with the International Institute of Tropical Agriculture to finance Phase II of the Technologies for African Agricultural Transformation programme. The TAAT programme is a core component...

Tax Reform Bills: NITDA, TETFUND to Remain as Reps c’ttee Proposes Major Changes The House of Representatives Committee on Finance has proposed major changes in the tax reform bills sent to the National Assembly by President Bola Ahmed Tinubu. Daily Trust reports that the committee modified...

E-invoicing to Boost tax-to-GDP Ratio, Curb Revenue Loss - FIRS The Federal Inland Revenue Service (FIRS) has stated that the implementation of the electronic-invoicing (e-invoicing) system will boost Nigeria’s tax-to-GDP ratio by improving tax compliance, enhancing transparency and curbing revenue losses. The e-invoicing, according to the...