Experts have said that the government should revoke taxes, incentives and waivers already granted to companies and the revenue be used to achieve economic recovery.
Browsing: Nigerian Investment Promotion Council
The minister gave some of the signs that the economy was on its way out of recession as marginal reduction in inflation rate which is the first in 15 months, relative stability in the foreign exchange market, steady increase in the foreign exchange reserves and renewed investor confidence which resulted into the oversubscription of the country’s $1bn Eurobond by eight times.
The agency therefore, said that pioneer status should not be granted to any company in the oil and gas sector, unless it is evidently clear that the company is actually pioneering an aspect of the industry in the country.
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