₦airaland Forum

The Federal Government Thursday disclosed a new regime of tax incentives targeted at supporting local investors in the Nigerian economy as well as to encourage more foreign investment flow into the country.

Minister of Trade and Investment, Mr. Olusegun Aganga, dropped the hint in Lagos at the on-going second edition of the Nigerian International Investment Forum (NIIF) organised by the ministry in collaboration with the Commonwealth Business Council (CBC).
The incentives are coming just as the Group Managing Director/Chief Executive Officer of Access Bank Plc, Mr Aigboje Aig-Imoukhuede, projected that by the end of this year, Nigerian banks would post a total profit to be equivalent to about 10 per cent of the aggregate profit of banks in the European Union.

Explaining the new incentives packaged in the form of tax credits, Aganga said going forward, companies that had invested in the development of infrastructural facilities such as access roads, power plants and water plants in the course of setting up their businesses are now entitled to tax credit of up to 30 per cent of the cost of generating the infrastructure.
Aganga described the initiative as a temporary relief measure introduced by the federal government to help cushion the debilitating effects of the challenges posed by the lack of infrastructural amenities in the country, which he described as a major setback to the inflow of investments into the country.

Another phase of the tax incentives, according to the minister, which is targeted at employment generation, provides tax reliefs for any employer that hires above 10 staff members.

The minister noted that for any 10 people employed by any company on a particular year, the employer gets tax credit for additional employments with more credits guaranteed if the employees are kept in the organisation further than two years.
“The federal ministry of works is currently working hard on the development of trade related infrastructure with a target time of completion of 2014. But before then we have introduced measures to cushion the effect of infrastructure deficiency one of which provides that any company that has invested in infrastructure will have tax credit of up to 30 per cent of the cost of generating the infrastructure,” he said.

Aganga also noted that the federal government had concluded plans towards fast-tracking the process of company registration in the country to less than 24 hours as has been achieved in Abuja.
He said the first step was to achieve the 24 hours target in Lagos, Kano and Enugu and then ensure that it becomes the norm even when you are registering the company from any other part of the world. He noted that the target for the achievement of the milestone is 2013.

“Investors like MTN took advantage of the opening up of the telecommunications industry in Nigeria while other global players were indecisive. Today those who failed to invest in the sector blame themselves when they see what MTN is making from its Nigerian operation.”

Meanwhile, explaining the comparative trend in profit in Nigeria and Europe, Aig-Imoukhuede, argued that about five years ago when the total profit posted by all European banks was about $60 billion, all the Nigerian banks recorded a combined profit of $386 million.
He, however, noted that in 2011, the figure changed significantly with the combined profit of all Nigerian banks climbing to $1.6 billion compared to an aggregate profit of $52 billion recorded by the European banks.
He said it was safe to project that by the end of 2012 the aggregate profit of all Nigerian banks would easily be up to 10 per cent of the total profit that would be declared by all the European banks.

Aig- Imoukhuede urged investors not to underestimate Nigeria’s economic potential and the profitability of business in the country.
“Nigeria cannot be ignored in the global business and economic scene for four major reasons, which include an extensive market; a rapidly growing economy; a stable political environment and a vibrant media and civil society sector,” he said.

http://www.thisdaylive.com/articles/fg-unveils-new-tax-incentives-for-investors-employers/126920/

Can a 40 years old bus move?
Na the buyer wan drive the bus abi na the bus go drive am?
I bow for your bus o!

Achukwunet has my vote!
JoJo!

fatdon2: One of her hand be like my hole body.

Your hole body for real!

I cant see any mammal on the bottle.
Just a man & a woman cuddling.

The link below is a video of the History of Nigeria.
How corruption changed the destiny of a country destined for greatness,

This is a must watch for every Nigerian.
You may air your view after watching the video.


https://www.youtube.com/watch?v=3aFc4VrV-94

I cant stop seeing Bakare in Aso rock.

Good job!
More grease to your elbows.

Apaja in my yoruba dialect.

Your price too high bros.
I would get an EOD for you at that price you are asking for a babyboy.
What you are missing is the 70-80% chance of selling your car within the first 2 weeks often thrown out by quoting high prices.
Best of luck though.

God forbid!

Where is the location?
serious buyer.

Is this car still available?

A millionaire at 29, that’s five years too late!
August 14, 2012 by Izere Imosemi
The title above is a catchy advertising statement that keeps getting my attention in several parts of the city where I live. Each time I see the caption, I ask myself if Nigeria, as it is presently, can actually produce a millionaire at 29 as boldly stated by the advert. As an undergraduate studying Law in a Nigerian university, my dad had a solid piece of advice for me; he would say, ‘Suffer for five years and enjoy forever.’ He said this to motivate me to work very hard at my studies, get good grades and graduate with a First Class or a Second Class Upper Division.

He reckoned that whatever inconvenience one had to endure during one’s sojourn as an undergraduate should be borne gallantly, as such inconvenience would be greatly compensated when one graduates with a First Class or Second Class upper division, and thereafter gets rewarded by being gainfully employed, and ultimately enjoys the good things of life. He was convinced that a good university grade was a ‘harbinger’ of the good life the gospel of which he preached to me. I believed him because he meant well.

And ‘suffer’ I did, like most students in Nigerian tertiary institutions, where electricity outage was (is) a norm. I literally burnt candles, attended lectures in overcrowded lecture theatres, copied my notes, did my assignments, bought lecturers’ handouts and textbooks at exorbitant prices. In fact, I did everything a good student should do, and what I had to show for it five years after was a very hard-earned second-class upper degree, and a pair of recommended glasses that cannot be done without. My degree certificate, and subsequently my call to Bar certificate, were supposed to be my key to wealth and prosperity, or at the barest minimum, my key to the good life.

Now, five years after graduation and almost four years after being called to the Nigerian Bar, I have yet to ‘enjoy’ as my dad promised. This is not just my story; it is the story of many Nigerian youths. A lot of them, brilliant, smart, hard working and ambitious, whose only crime was being born in a society governed by extremely corrupt and selfish leaders. Leaders whose selfish and corrupt acts have not only weakened our institutions, but are threatening to destroy whatever good we have left.

Many Nigerian youths at some point, had lofty dreams and aspirations such as conquering the information technology world, or becoming the next Bill Gates, or being ‘somebody’ or doing ‘something’ that would affect the world and perhaps put ‘them’ and their country in the eyes of the world for a positive reason. But, like a friend once wrote on her Facebook page recently, as you grow older, life becomes less about achieving your dreams and more about making your dreams fit into reality because the Nigerian society appears not to be very dream-friendly in terms of helping her youths and the entire citizenry aspire to become the very best they can be.

Speaking of Facebook, which a Nigerian minister (who should have known better, with regard to the nature of his office) graciously thanked our President for bringing to our country. One wonders if this minister ever knew that Mark Zuckerberg, one of the four co-founders of the social network site used by almost every internet savvy and not so savvy person in the world, launched the site as a 20-year-old Harvard undergraduate. Presently, not only is Zuckerberg one of the richest young people in the world, thanks to him, social networking has taken on a whole new meaning and a new place in the state of affairs of today’s world.

Today, we wonder what a 20-year-old Nigerian can create. The question we should ask ourselves is, were Zuckerberg a Nigerian, (emphasis on born and bred, not American or British trained) would he have founded Facebook? Does the Nigerian society as it is have the capacity to develop geniuses? From all indications, particularly from our decayed educational system and the structural Nigerian system generally, it appears to me that the Nigerian society ‘kills’ geniuses rather than creates a viable environment to promote innovation and enterprise.

I attended the last convocation ceremony of the University of Lagos where the overall best graduating student was a mechanical engineering student. Today, I hear he works in a bank in Lagos. If true, how sad! How pathetic! In a sane society, the lad would have been whisked off by the government or some top engineering firm, his intellect would be have been prodded, his mind pushed until the genius in him comes to fore.

The just concluded 2012 London Olympics is a case in point too. The abysmal performance of Nigerian athletes has very little to do with the absence of talent or skill but more to do with institutional deficiencies in sport, training and development in the country.

The sad truth is that Nigerian youths are working very hard but are barely getting by. What makes the situation sadder and more pitiful is the constant and the seemingly endless reports of corrupt leaders, top government officials, supposedly senior citizens, siphoning public funds brazenly and getting away with it while Nigerian youths watch helplessly as their future is taken out of their reach.

In Nigeria, it is commonplace to find many young people between the ages of 25 and 30 years still living with their parents or older relatives, still dependent one way or the other, not by choice but by circumstance. This ought not to be! It is the young that should take care of the old and not vice –versa. It is very frustrating and psychologically debilitating for young people going through this phase.

Ideally, in a society that has done its work and paid its dues in bringing up her youths, a 25-30 year-old man or woman should be completely independent of his or her parents or relatives in every sense and should at that age start giving back to the society. This is, sadly, not so in Nigeria; there is nothing normal about this situation and it should not be accepted! Just as a parent of a five-year-old child who still crawls and fails to walk should be alarmed and worried, our leaders should be worried, if at that age the majority of our youths have not attained full financial responsibility and are still being catered for like teenagers or children. This is really sad and portends great danger for the future of our country.

Beyond the failed political leadership and poor economic situation that have plagued our country and contributed to the pitiful plight of Nigerian youths, it seems that the society is configured to regard young people as incompetent and incapable. A little while ago, a serving youth corps member at the National Assembly in an article in a national newspaper wrote that youth corps members serving in the National Assembly were reduced to mere errand boys to carry out menial assignments like serving tea and kola nuts to the lawmakers. If true, how derogatory and demeaning! What a waste of young active minds and talents! It is time our leaders realised that young people in the right environment, with the right motivation and the right education can effectively hold positions of leadership and execute projects brilliantly. One does not have to be 50 years old before one becomes a CEO; a 28-year-old CEO can do just fine! And a 30-year-old senator can do just fine too, after all, what good have our older politicians and leaders done?

In reality, becoming a millionaire at the age of 24 in Nigeria without making recourse to ‘yahoo yahoo’ (Nigerian acronym for internet fraud), pilfering funds, or being used as a political thug or winning the grand prize in the Big Brother Africa or any other reality TV shows or becoming a pop star or sportsman, is a near impossibility.

It is possible to become a millionaire at the age of 24 legitimately (as Mark has shown us), in a society that is engineered to encourage and reward hard work. Truthfully, Nigeria is not that society yet and until Nigeria becomes that society, corporate organisations and advertising agencies need to be very mindful of the messages behind their advertisements. It is my humble submission that, to put up an advertisement with an inscription that reads ‘a millionaire at 29, that’s 5years too late’ to promote a product that is largely patronised by young people in Nigeria, is to throw existing realities into the bin in the name of creativity.

-Imosemi, a partner in the law firm of Fieldings and Grey Solicitors, Lagos wrote in via izereimosemi@yahoo.co.uk

http://www.punchng.com/opinion/a-millionaire-at-29-thats-five-years-too-late/

Torture or training? Inside the brutal Chinese gymnasium where the country's future Olympic stars are beaten into shape

Read more: http://www.dailymail.co.uk/news/article-2182127/How-China-trains-children-win-gold--standing-girls-legs-young-boys-hang-bars.html#ixzz22O46XFfP

I got my present job through Global Careers Company in Africa.
They came for a recruitment summit in Nigeria (Eko hotel) last year September and top Nigerian companies were there.
They will be in Nigeria again this year.
If you have some years of experience in your field with professional qualification,
please check this out.
http://www.globalcareercompany.com/
Best of luck.

Rocktation: Her pastor did not tell her anything. She cannot wait for you for four years like she's told you already. Work with that. Leave her be.

Word!

SO you can come to Nairaland and cry wolf?
You asked a girl to come see you all the way from Akwa-Ibom,
she got stranded in Portharcourt late in the night and asks you to send credit so she can use find her way to that village of yours you refused to pick her calls.
Why are you not saying that part of the story brother?
Hmmmm?

Clearly a good attempt by SSS to blackmail BH and stop the face off between muslims and christians.
Nice try anyways.

'We are aware that it is such mischief being orchestrated and in line with the operations of SSS like their counterparts in other parts of the world; all in the bid of blackmailingMujahedeens. And they will not succeed by the power of Almighty Allah, because everybody knows that we are doing only Jihad towards ensuring adhering to Muslim system'

@ Femi, thanks for the info.

It just got cheaper!

I usually deliver between 6 and 8 months but the processing takes most people upto 1 year.
You can call me up for details.

am expecting your call..........

I have been so occupied but now I am back.
If you are in need of C of O anywhere in Lagos state, please call me on 08034964978 and lets meet in my office at Lagos state secretariat Alausa for detailed discussion.
We have several testimonies already.

MTN just refund my credit,
MTN for life.

A country gets the leadership it deserves.

more

More

more pics

what a waste!

I lost the only key to my 1996 Honda last week, we were able to get it duplicated after much ado.
But unfortunately, the duplicate can only unlock the ignition but could not start the car.
The technician working on the car said it is coded, and we need to replace the brain box and some other things in the car before the car can start again.
This is strange to me, someone should please advise me on the best line of action.

Thank you

If you work with AMCON, just take the pain to mail me your number at daygee80@yahoo.com, believe me you will be glad you did.