CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Nigeria Gives Tax Holiday To Exporters

Nigeria Gives Tax Holiday To Exporters

by Lorys Charalambous, Tax-News.com, Cyprus

19 December 2001


The Nigerian government has announced a seven-year tax holiday for exporters in a bid to encourage local manufacturers to enter the export market. The incentive forms part of a package of measures adopted by President Olusegun Obasanjo to broaden and diversify Nigeria's revenue base, move the economy away from its monolithic nature, and reduce its over-dependence on oil wealth. Earnings from petroleum provide Nigeria with more than 90% of its foreign exchange and account for 28% of the gross domestic product.

Suraj Yakubu, the chief operations officer of the state-run Nigerian Investment Promotion Commission, said the move aimed to encourage an export-driven economy Nigeria wanted to end its dependence on imports and to support companies that would earn foreign exchange for the country through exports. Yakubu said that an Investment, Climate Improvement and External Relations Department had been set up to co-ordinate the activities of export firms. He also said that 15 foreign missions had been set up to popularise Made in Nigeria products and to attract investors. The Nigerian government had also initiated a matchmaking programme to bring together Nigerian and foreign companies.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »