Former Vice-President Atiku Abubakar has accused the Federal Government of giving tax incentives and other benefits to oil companies while Nigerians continue to struggle with high petrol prices and the rising cost of living. Atiku, the African Democratic Congress (ADC) presidential candidate, made the allegation in a s…

…is designed to improve the economics of deep offshore oil and gas projects by providing tax incentives and a more predictable framework for investors. Amadasu said the reform could open a new phase of investment in Nigeria’s offshore petroleum industry, where projects typically require billions of dollars and take seve…

…also covers the treatment of income taxes, transaction taxes, development levies, tax incentives, exemptions, record-keeping obligations and transactions that span both the old and new tax regimes. Existing tax incentives and exemptions granted under the repealed laws will remain in place until their expiration dates.…

The Federal Government has assured businesses that tax incentives granted under repealed tax laws will remain valid until their expiration