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The Nigeria Tax Bill and priority sectors: A path to sustainable growth? Part 1

Nigeria's economy experienced its fastest growth in three years in Q4 2024, but the full-year growth of 3.40% still fell short of the government's 6% target. To promote sustainable economic growth and address underperformance in key sectors, the Nigeria Tax Bill introduces tax incentives for priority sectors. These sectors, listed in the eleventh schedule, include agriculture, energy, mining, health, ICT, utilities, chemicals, steel, transportation, industrial machinery, environment, textiles, and other manufacturing, aiming to attract investment and generate employment with sunset dates varying by subsector.
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