Edge Of The World

When President Bola Ahmed Tinubu assumed office, he inherited an economy weighed down by heavy subsidies, low oil production, dwindling reserves, and widespread investor distrust. Many believed the challenges were insurmountable. Yet, just two years into his administration, the economic indicators tell a powerful story of resilience, tough choices, and steady progress. The reforms have not been without pain, but they reflect a deliberate strategy: dismantling old structures that held Nigeria back and laying a foundation for lasting prosperity. From Deficit to Surplus: Reversing Nigeria’s Trade Balance In Q1 2023, Nigeria recorded a ₦20 billion trade deficit . Two years later, the country now boasts a ₦5.7 trillion surplus . This dramatic turnaround reflects improved oil exports, reduced importation of refined products, and stronger non-oil contributions. This surplus is more than a statistic — it shows Nigeria is regaining control of its economy and reducing reliance on foreign de...

President Bola Tinubu’s tax reform bills have sparked a lively debate in Nigeria. Many experts believe that if implemented effectively, these reforms could significantly benefit the country and its citizens. The proposed reforms aim to lay the foundation for Nigeria’s fiscal policy and are based on recommendations from the Taiwo Oyedele led Presidential Committee on Fiscal Policy and Tax Reforms. Key Provisions of the Tax Reform Bills The tax reform bills introduce several key changes to Nigeria’s tax laws. Among the notable provisions are: 🔴 Tax Exemption for Low-Income Earners : The proposed Nigeria Tax Bill offers tax relief to average Nigerian salary earners by exempting individuals earning below N800,000 per year from paying taxes. 🔴 Reduced Tax Rates for Small Businesses : The bill also proposes to exempt small businesses with annual incomes below N25 million from paying profit taxes. Additionally, the top profit tax rate for larger companies would be reduced from 30% to ...