Nigeria’s Finance Act 2020: Insights Series and Sector Analysis

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By PwC Analysts   Economic Context The outbreak of COVID-19 pandemic led to a contraction of the Nigerian economy by -6.1% in Q2 2020 compared to 2.1% in Q2 2019. Mining and Quarrying contracted by 6.6%, Manufacturing by 8.8%, Real Estate by 22%, Insurance by 29.5%, Construction by 31.8%, and Trade by 16.6%. However, Information and Communication grew by 16.5%, Financial Institutions by 28.4%, and the agricultural sector remained resilient as it grew by 1.6% in Q2 2020. The GDP growth trend continued in Q3 2020 and for the rest…

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Finance Act 2020: NCC, sister agencies to strengthen collaboration with FIRS

Finance Act 2020

Finance Act 2020: NCC, sister agencies to strengthen collaboration with FIRS   An inter-agency committee set up by Isa Pantami, the minister of communications and digital economy, to discuss areas of collaboration between the agencies of his ministry and the Federal Inland Revenue Service (FIRS) in relation to the Finance Act 2020 has held an interactive session. Chaired by Umar Danbatta, the executive vice chairman (EVC) of the Nigerian Communications Commission (NCC), the membership of the committee is comprised of the executive chairman of FIRS and heads of agencies in…

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