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NASME Advocates 5-Year Tax Amnesty for MSMEs
Federal government has been urged to grant five-year tax amnesty to the Micro, Small & Medium Enterprises (MSMEs) in the country as a means to galvanise them, especially into aligning the small businesses with the formal sector tax related matters.
The Nigerian Association of Small and Medium Enterprises (NASME), made the call as part of its advocacy and mediation drives to broker compromise between the government and the MSMEs, especially on taxation.
Meanwhile, the Nigerian Association of Small and Medium Enterprises (NASME), Nigeria in collaboration with Deloitte, with the support of Enhancing Nigerian Advocacy for a Better Business Environment (ENABLE), on Thursday officially released an advocacy paper targeted at proffering a better tax framework for the MSME sector of the Nigerian economy.
According to NASME, statistics shows that Nigeria has currently has over 35 million small business, who account for 90% of job creation, contributing about 50% of the economic growth, regrettably, the sector are heavily taxed and allowed to grapple with multifaceted challenges.
The informal economy or grey economy which is usually regarded as part of the economy that is neither taxed, nor monitored by any form of government, the experts said, deserves to be treated fairly and included into the activities of the formal sector economy.
Speaking during public presentation of Tax Advocacy Paper aimed at MSMEs in Nigeria, a work executed by Deloitte Nigeria on behalf of NASME, Fatai Folarin, chief executive officer of Deloitte Nigeria, said in spite of government’s efforts and the clout garnered by MSMEs, MSMEs have not performed creditably well and hence have not played the expected vital and vibrant role in the economic growth and development of Nigeria.
He said the report findings show an existing or perceived disconnect between policy intent and the realities of MSMEs.
“The need to bridge the gap between policy intent and MSME reality has necessitated this position paper. The drivers for this position paper are: Encouraging interaction and adoption of a concerted approach to issue of strategic importance to the development of MSMEs in Nigeria; Establishing a frame work that ensures effective realization of government objectives and targets for MSMEs; and Creating an active platform for policy advocacy on issues affecting MSMEs in Nigeria”.
The Tax Advocacy paper focuses on key objectives as the challenges faced by MSMEs in Nigeria; bridging tax and regulatory gaps in relation to MSMEs – Our Recommendations and benefits to the government.
Also speaking, Oluseye Arowolo, partner, Tax & Regulatory at Deloitte Nigeria, said that the executive summary of the paper, it has clearer, “apart from where the policy defined MSMEs, the policy does not specifically address nor differentiate the needs of each segment, which is principally the disconnect that needs to be addressed”.
He said, “Each category of MSME has its own peculiar characteristics and problems which require targeted policies to address them. If you look overview of MSMEs in Nigeria, the country’s economy is largely driven by MSMEs with 96% of Nigerian businesses falling under this category; The MSME sector accounted for 84.02% of the total labour force in Nigeria in 2013; MSMEs contribution to the Nation’s Gross Domestic Product in nominal terms stood at 48.47% in 2013; MSMEs contribution to export stood at 7.27% in 2013 and MSMEs, the world over are said to generate about 90% of employment in the private sector. So, we started work on this position paper about two years ago. Since then so many things have changed, however, there are current events in the country that show the releasing of this position paper is apt and should be adopted by the Government to cater for this segment of the economy,” Arowolo said.
The document jointly presented by NASME, Deloitte and ENABLE identifies that currently, only about 27.7% of registered businesses in Nigeria pay taxes out of the recorded number of 450,000; MSMEs account for a significant portion of the remaining 72.3%, hence “an improved tax and regulatory framework will result into widened tax net to accommodate these MSMEs as a result of the VDP and simplified tax registration process”.
“If the Total tax revenue generated by the revenue authorities in 2015 was N3.7bn; The target tax collection in 2015 was N4.6bn, government granting MSME requests will encourage the level of compliance and consequently, more revenue generation. For instance, unemployment rate and GDP in the 1st quarter of 2016 are recorded at 12.1% and -13.7% respectively. Enactment of preferential tax rules and other tax incentives requested will boost investment and encourage more players in the sector. Consequently, increased employment, more goods being produced for export and increased GDP,” he said.
The Partner, Tax & Regulatory at Deloitte Nigeria added that the paper recommends for the Government to have special MSME tax regime “where MSMEs will not be assessed under the provision of either PITA or CITA, but on a new tax and regulatory framework dedicated to MSME in clear and definite terms”.
To this end, Prince ‘Degun Agboade, president/chairman of Council of NASME thanked Deloitte for executing the work seamlessly, adding that the findings are critical to the members.
According to Agboade, MSMEs in Nigeria today are faced with challenges ranging from “Government’s perceived lack of sensitivity; Rigid and stringent requirements for start-up business; Over-regulation; Insufficient access to funds/finance and lack of awareness; Inefficiency in the administration of government’s incentives; Multiple and high taxes, among others.
He said, “In a situation you present you bankers with collateral worth N200million and they say you can only borrow N12million, whereas N50million was approved for you, does it augur well for such manufacturers? Manufacturers are going through turbulent times especially in sourcing for funds, and tax system is not harmonised. We want the Government to look into this. So, the call for tax amnesty is justified, because it is going to inject life into the MSMEs and help the government to increase tax earnings”.
Nodding in agreement, Ladi Jemi-Alade, zonal vice president, South-West at NASME said reiterated that “MSMEs are able to manufacture products up to international standards for export which will boost foreign trade, and increased innovation and technology as MSMEs tend to be major drivers of innovation while achievement of wider socio-economic goals such as poverty alleviation”.
“That is why we are saying 5-year tax amnesty for the MSMEs will bring about a programme for voluntary disclosure of records. For instance, most companies are indebted to Corporate Affairs Commission (CAC) and the FIRS, because the penalties are stringent. So, companies need help. They need to be granted amnesty to voluntarily disclose their records and the inequalities in the tax system must be addressed”.
He said that stakeholders’ view is that the current disconnect in policy and the reality of MSMEs must be eliminated through appropriate combination of options, expressing their desire “to assist government to appreciate expectations from the MSME sector has necessitated the preparation of this sector-wide position paper. Stakeholders within the MSME sector through NASME are prepared to engage and dialogue further with Government at all levels”.
Also, Kevin Conroy, team leader, Enhancing Nigerian Advocacy for a Better Business Environment (ENABLE), expressed confidence that if implemented, provisions in the paper will help to unleash the potential of MSME for the benefit of Nigeria’s economy.
He said that is has become imperative for government to revisit its approach to the challenges of the MSME sector, particularly by reducing the tax burdens on small businesses.
Federal High Court in Abuja, on Tuesday adjourned the $150 million dollars suit filed by Chianugo Peter, a Nigerian, against Google LLC and GoDaddy.com LLC over shutdown of his YouTubeAudio.com domain name until April 22 for hearing.
The case, which was before Justice Obiora Egwuatu, could not proceed due to the absence of the judge in today’s proceedings.
Although Emmanuel Ekpenyong, Peter’s lawyer, and Mark Mordi, who is counsel to Google LLC, were in court, Justice Egwuatu was said to be in another official assignment.
The matter was consequently fixed for April 22 for hearing.
Peter had filed the suit over allegations bordering on the shutdown of his YouTubeAudio.com domain name after eight years of promotional and marketing efforts in breach of the contract.
Peter, through his lawyer, named GoDaddy.Com LLC and Google LLC as the 1st and 2nd defendants in the suit filed on April 14, 2023 and marked: FHC/ABJ/CS/238/2023.
In his earlier originating summons filed by Ekpenyong of the law firm of Fred-Young & Evans LP, the Nigerian sought a $150 million in compensation from Google LLC and GoDaddy.com LLC for the alleged cyberspace contract breach.
The plaintiff alleged that the defendants shut down his domain and business name: YouTubeAudio.com and transferred the rights over the name to Google LLC, an American multinational technology company.
Google LLC, in its initial statement of defence dated Nov. 9, 2023, and filed Nov. 10, 2023, by its lawyer, Mr Mordi, SAN, of the law firm of Aluko & Oyebode, urged the court to dismiss Peter’s suit as being unmeritorious and lacking in merits.
Justice Egwuatu had, in April 2024, gave Chianugo Peter the go-ahead to amend his originating processes after his lawyer moved the application for same and it was not opposed by the defence counsel.
In his amended statement of claim dated April 29, 2024, Peter sought ten reliefs.
He sought a declaration that GoDaddy.com was wrong to shut down the YouTubeAudio.com domain name on Dec. 7, 2022 and that Google was wrong to remove “YTAudio” with its website youtubeaudio.com from its Google PlayStore on Dec. 25, 2023 without adequate compensation to him.
He said this is notwithstanding that YouTubeAudio.com domain and business name is different and distinct from YouTube trademarks.
Chianugo Peter wants the court to declare that he is entitled to compensation from the defendants for the loss of the YouTubeAudio.com brand and goodwill which has accrued on the brand and domain name for eight years of promotional and marketing works from July 2, 2015 to Dec. 7, 2022.
He sought an order directing the defendants to pay the sum of $50 million to him for promotional and marketing works on the YouTube Audio business name and YouTube Audio.com domain name for eight years from July 2, 2015 to Dec. 7, 2022.
He sought a $100 million in damages for loss of anticipated profits associated with the brand equity and goodwill of YouTube Audio and YouTube Audio.com domain name.
Peter also sought from the defendants, the sum of 50 million naira to enable him to carry out fresh registrations of its new name and secure an alternative domain name to host its application to attract users.
The Nigerian sought an order directing the defendants to pay the sum of 10 million naira to him for prosecution of the suit.
Alternatively, Peter prayed the court for an order for GoDaddy.com to reinstate and hoist the YouTubeAudio.com domain name which was shut down on Dec. 7, 2022 and for Goggle to also reinstate YouTubeAudio.com on its Google PlayStore platform which was unilaterally removed on Dec. 25, 2023.
Chianugo Peter submitted that he acquired rights over YouTubeAudio.com domain name from Go Daddy.com LLC who conducted a search before confirming that he could make use of the name.
The plaintiff averred that he promoted the domain and business name from 2014 to 2022 and even wrote to Google to introduce YouTubeAudio’s services and to partner with it in 2014 and 2021 but received no response from it on both occasions.
He said in February 2021, he applied for and YouTubeAudio.com was registered on Google Adsense platform for displaying advertisement on the website.
Besides, Peter said in August 2021, the domain and business name was registered on Google Playstore.
According to him, the plaintiff consistently paid GoDaddy.com LLC for registration and use of the domain name from 2015 to 2022.
But Google LLC, in its amended statement of defence and counterclaim dated and filed May 31, 2024, averred that its registration of the YOUTUBE trademarks at the Trademarks Registry gives it the exclusive night to the use of the said trademarks.
It submitted that it has incurred expenses in the sum of 24,040 64 dollars in dealing with Peter’s “deliberate infringement of the counterclaimant’s YOUTUBE trademarks.”
The company, therefore, sought a declaration that Peter’s registration and use of the YouTubeAudio business name with BN 2395035 at the CAC is an infringement of its YOUTUBE registered trademarks.
It prayed the court for an order directing Peter to pay the company the total sum of $24,040.64 being the expenses incurred in dealing with his infringement of the YOUTUBE registered trademarks.
It equally sought an order directing the plaintiff to pay the company the cost of defending the suit.
In his amended reply to Google’s amended statement of defence dated 12th July 2024, Peter responded that it is not in doubt that Google LLC owns YouTube trademarks, however, YouTubeAudio is distinct and different from YouTube trademarks.
Chianugo Peter submitted that Google LLC, being a foremost search engine in the world, knew that he had earlier written to it, that he was making use of the YouTubeAudio domain name for the past eight years without any objection or caveat by either GoDaddy.com or Google.
“Hence, Google LLC is estopped from claiming any right over the YouTubeAudio domain name,” he said.
GoDaddy.com LLC had neither filed any process nor represented in court.
LG Electronics has announced the launch of a nationwide campaign aimed at celebrating decades of customer loyalty and technological heritage by searching for the oldest still-functioning LG television sets across the country.
The initiative, themed “The Oldest LG TV”, seeks to honour long-time customers whose LG screens have stood the test of time, while introducing them to the future of home entertainment through LG’s advanced AI QNED TVs.
For generations, LG televisions have been more than an electronic device in Nigerian homes, they have been silent witnesses to family milestones, cultural moments and shared memories.
This campaign bridges nostalgia with innovation, acknowledging the emotional connection Nigerians have built with the brand while showcasing LG’s leadership in AI-powered display technology.
The campaign features a storytelling -driven narrative that highlights community, heritage and the evolution of viewing experiences. Participants are invited to share the stories behind their long-serving LG TVs, transforming everyday screens into symbols of trust, resilience and innovation.
In creative twist, the campaign also introduces LG’s AI-enabled televisions as responsive companions that understand viewer preferences, recommend content and enhance picture quality in real time. This shift from nostalgia to futuristic interactivity underscores LG’s continued commitment to delivering smarter, more personalized entertainment solutions.
To participate, simply visit https://lgsearchcampaign.vercel.app/ upload a photo or video of your old LG TV and share the story behind it – how long you’ve had it and the memories it holds.
The winner walks away with a brand-new LG AI QNED TV, effectively trading legacy for luxury.
At its core, this campaign reminds us that technology is not only about pixels and processors, but about people. It’s about the laughter in the living rooms, the silence during tense match moments and the comfort of family routines.
By celebrating the oldest TVs still standing strong, LG is celebrating the people who kept the on, families who trusted the brand through changing times and evolving technologies. In doing so, LG isn’t just upgrading television, it’s upgrading memories into the future.
According to Mr. Choongbae Seok, General Manager, Media Entertainment Solutions, LG Electronics Nigeria, “The journey from our classic CRT Televisions to today’s AI QNED technology reflects how far both our customers and our innovation have come. Those early sets were built to last, and many are still functioning today, a testament to durability and consumer trust. This initiative allows us to honour that legacy while introducing a new era of intelligent viewing, where the screen does more than show content; it adapts, learns and enhances every moment”.
LG Display 2026 TV Models at InnoFest
LG Electronics (LG), a leader in AI-powered solutions for the home, outlined plans to accelerate growth in emerging markets at LG InnoFest 2026 MEA. The event, held in Abu Dhabi, provided a forum to share LG’s strategic direction and market outlook with regional partners. At the exhibition, LG displayed its premium 2026 AI TV lineup focusing heavily on advanced processing power, smarter picture and sound technologies. The flagship OLED evo G6 and 100-inch Micro RGB evo TVs are powered by the new Alpha 11 AI processor Gen 3 enabling faster and more intelligent performance. The OLED evo W6 Wallpaper TV, an ultra-slim television designed to sit flush against the wall like artwork uses true wireless connectivity, reducing cable clutter and creating a cleaner, minimal setup.
African leaders used the AU Summit in Addis Ababa over the weekend to sharpen the continent’s technology agenda, with Ethiopia positioning artificial intelligence (AI), digital infrastructure and connectivity as pillars of Africa’s economic future.
Opening the 39th African Union Summit, Ethiopian prime minister Abiy Ahmed outlined an ambitious vision to place Africa at the forefront of the global AI race, anchored by Ethiopia’s plan to launch what he described as Africa’s first AI-focused university.
“In 2020, Ethiopia established Africa’s first Artificial Intelligence Institute. Building on this foundation, we are preparing to launch an AI university anchored in the philosophy of Medemer, purposeful collaboration, to unite human values with machine intelligence and position Africa as a global leader in the age of intelligence,” Abiy told delegates. “
He framed AI not as a standalone sector, but as a cross-cutting enabler for governance, industry and social development. “Every river we manage, every city we design, and every digital platform we deploy must generate resilience, opportunity and dignity,” Abiy said. He further linked digital transformation to Agenda 2063’s long-term prosperity goals.
Beyond AI, the high-powered AU summit discussions highlighted digital identity, cross-border connectivity and telecom expansion as critical building blocks for an integrated African market. Ethiopia’s Digital Ethiopia 2030 roadmap, including its Faida digital ID ecosystem, was cited as a model for secure, interconnected public services.
Abiy pointed to aviation and telecom infrastructure as key accelerators for economic development across the continent. “Through Ethiopian Airlines, we connect people and markets. Ethio Telecom is expanding partnerships across Africa to bridge the digital divide,” he said.
The Ethiopian leader added that large-scale infrastructure projects are designed to anchor Africa deeper into global value chains.
The broader summit tech agenda also touched on regulatory harmonisation, digital trade and data governance, with leaders emphasizing that continental cooperation is essential to avoid fragmented digital markets.
UN Secretary-General António Guterres underscored the need for inclusive innovation, telling delegates that Africa’s digital rise must be “people-centered and opportunity-driven,” while African Union Commission Chair Mahmoud Ali Youssouf stressed coordinated policy frameworks to accelerate adoption.
“AI capability, digital infrastructure and unified regulation are no longer optional ambitions, but strategic imperatives shaping the continent’s competitiveness in the intelligence era,” he said.
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