TINUBU IDENTIFIES CREATIVE SECTOR AS KEY TO ECONOMIC DIVERSIFICATION. (PHOTO).

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  President Bola Tinubu has identified the creative economy as a pivotal element of his administration’s economic diversification agenda, reaffirming his commitment to positioning Nigeria’s creative sector as a driving force for global influence. The President stated this at the launch of the 2024 Abuja International Carnival at Eagle Square, Abuja. President Tinubu, represented by Vice-President Kashim Shettima, said the carnival reaffirms the essence of who Nigerians are—”a people of culture, a people of art, a people of colour, and a people of shared values”. In a statement signed by the Senior Special Assistant to The President on Media & Communications, Office of The Vice President, Stanley Nkwocha, under the theme, “Carnival of Renewed Hope: A Pledge to My Country”, the event showcased performances from across Nigeria and beyond, demonstrating the administration’s commitment to cultural diplomacy. The Federal Ministry of Art, Culture, and the Creative Economy, working alongsi
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STAKEHOLDERS CALL FOR N100M TURNOVER THRESHOLD FOR SMALL BUSINESS TAX EXEMPTION. (PHOTO).

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 Stakeholders call for N100m turnover threshold for small business tax exemption


Stakeholders have urged the federal government to increase the turnover threshold for small businesses to be exempt from the new Withholding Tax (WHT) regulation from N25 million to N100 million. While they welcomed the government’s efforts to ease the tax burden on businesses, they argued that N25 million is too low given current economic realities.


They praised the policy for supporting small businesses but emphasized the need for a higher threshold to better reflect inflation and the devaluation of the naira.

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