Economy

Nigeria’s Economy Recovery Sparks Optimism for Stronger Q4

Published

1 year ago

September 10, 2025

Nigeria’s economy recovery is gaining momentum, with experts predicting stronger growth in Q4 driven by rising consumer spending and government infrastructure projects

Nigeria’s economy recovery is sparking renewed optimism among experts, who project stronger performance in the final quarter of 2025.

Also read: World Bank: Nigeria’s economy to grow by 3.6% in 2025 despite global trade tensions

After months of economic turbulence marked by shrinking consumer wallets, cautious investments, and reduced corporate spending, indicators now point toward stability and growth.

Ademola Oladosu, Director of Media Sales at The Price is Right, highlighted rising disposable incomes as a key driver.

“Disposable income, which had been severely constrained, is beginning to improve thanks to government policies that are easing economic pressure,” Oladosu said.

He added that the marketing industry will benefit as brands regain confidence to increase advertising budgets, which had shrunk during tougher times.

Demilade Olaosun, Founder and CEO of Lohli, emphasized the role of media and technology in this rebound.

“With better consumer confidence, businesses will rely more on marketing, public relations, and advertising to stay competitive,” Olaosun said.

He also pointed to the increasing use of artificial intelligence to predict consumer patterns and strengthen brand connections.

Alfred Okugbemi, Managing Director of Nigerian Sinotrucks Limited, painted a positive picture of increased government spending on infrastructure projects, such as coastal roads and bridges, which are expected to stimulate sectors like construction, banking, and services.

“The rebound is visible, and if sustained, it could lead to longer-term growth, though the challenge remains ensuring that benefits reach grassroots communities,” Okugbemi noted.

As Nigeria moves into the last quarter of 2025, experts agree that government policies, consumer spending, and corporate strategies will be critical in maintaining the recovery momentum.

Also read: Lagos $1 Trillion Economy Ambition Gets Boost at GITEX

For now, there is cautious optimism that the economy will close the year on a stronger note.

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Economy

NRS Assures Taxpayers VAT Remains at 7.5% Amid Tax Reform Concerns

Published

23 hours ago

October 27, 2026

Peculiar Adirika

NRS VAT rate remains 7.5%, the agency says, while addressing concerns over bank deductions, loans and the implementation of Nigeria’s tax reforms

The Nigeria Revenue Service (NRS) has assured taxpayers that Nigeria’s standard Value Added Tax (VAT) rate remains 7.5 per cent, while addressing concerns over the implementation of the country’s new tax reforms.

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The assurance was given by the Tax Administrator responsible for Kano, Jigawa and Katsina states, Samaila Abdullahi, during an NRS stakeholders’ engagement and tax reform sensitisation programme in Kano.

Abdullahi said concerns raised by individuals, traders, business owners and other stakeholders about the new tax laws were understandable, particularly questions relating to bank transactions, loans, family transfers, business income and the potential impact on small businesses.

He urged taxpayers to understand the reforms through the provisions of the law rather than rely on assumptions or misinformation.

According to him, the tax laws do not automatically authorise deductions from personal bank accounts.

He stressed that tax collection and recovery must follow the applicable legal provisions and procedures.

Abdullahi also clarified that money received as a loan should not automatically be classified as business income or profit, explaining that proper documentation is essential to establish the nature of a transaction.

“For instance, when a trader receives a loan of N500,000, the amount should not automatically be treated as N500,000 in sales or profit, provided the transaction is properly documented,” he said.

The NRS official’s comments were aimed at addressing public concerns about how the new tax framework would affect personal finances and business transactions.

He emphasised the importance of distinguishing between taxable business receipts and other funds, such as documented loans, when determining a taxpayer’s obligations.

The clarification comes amid heightened public interest in Nigeria’s tax reforms and questions about their implications for individuals, traders and small businesses.