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Deloitte Backs NASME’s ‘Tax Amnesty for MSMEs’ Proposal

Deloitte Akintola Williams “Deloitte” has supported Nigerian Association of Small and Medium Enterprises (NASME) advocacy for Micro, Small & Medium Enterprises (MSMEs) in the country to be granted tax amnesty to rejig their records and recuperate from the present harsh business climate.
NASME leadership had made the call during a public presentation of Tax Advocacy Paper aimed cataloguing issues that limit MSMEs growth in Nigeria; a work executed by Deloitte Nigeria on behalf of NASME, through the support of Enhancing Nigerian Advocacy for a Better Business Environment (ENABLE), where it supported five-year tax amnesty to the small businesses by the Government.
According to Mr. Fatai Folarin, chief executive officer of Deloitte Nigeria, in spite government’s efforts and the clout garnered by MSMEs, small businesses suffer multifaceted limitations and have not played expected vibrant role in the economic growth and development of Nigeria.
Folarin 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”.
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.
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”.
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INTERPOL Report Shows AI Powers 55% of Cybercrimes in Africa Amid $484m Losses

INTERPOL’s African Cyberthreat Assessment Report 2026 revealed that Artificial intelligence accounts for 55 per cent of reported cybercrimes across Africa and making attacks faster, more sophisticated and increasingly difficult to detect.

The report warns that the continent’s rapid digital transformation, marked by more than 1.1 billion mobile subscribers in 2025, is being matched by an equally rapid evolution in cybercrime, while fragmented legislation and limited AI readiness among law enforcement agencies continue to weaken responses.
The 40-page assessment, based on survey data from 36 African member countries, said cybercrime has shifted from isolated criminal activity to an industrialised, borderless ecosystem powered by AI.
According to the report, East Africa has become a hotspot for mobile money fraud and ransomware attacks targeting critical infrastructure, while business email compromise (BEC) and romance scams are widespread across Central and West Africa.
Southern Africa, it noted, has become an attractive target for international cybercriminals due to its high level of internet connectivity.
The report also highlighted the growing financial impact of cybercrime across the continent, revealing that losses have more than doubled since 2024, rising from 192 million dollars to 484 million dollars.
It attributed the increase largely to AI-enabled scams, credential harvesting and automated social engineering attacks.
INTERPOL said online scams remained the most commonly reported form of cybercrime in 2025, with criminals exploiting mobile money platforms, social media and AI-generated content to deceive victims.
It added that 72 per cent of surveyed countries reported the existence of scam centres, with the highest concentration recorded in Southern and West Africa.
The report further identified digital sextortion and online harassment as persistent threats, driven increasingly by AI-generated deepfakes and synthetic media.
According to data from TrendAI, one of INTERPOL’s partners, about 600,000 sextortion incidents were detected during the reporting period.
Business email compromise schemes have also become more sophisticated, with AI being used to generate highly convincing email communications.
The report said Africa-based threat actors are increasingly targeting victims in Europe and North America using cyber infrastructure spread across multiple jurisdictions.
INTERPOL warned that the absence of real-time information sharing between banks, telecommunications companies and law enforcement agencies has created significant vulnerabilities in tackling financial cybercrime.
It said cybercriminals are no longer relying solely on stolen credentials but are now creating AI-generated synthetic identities by combining genuine personal information with fabricated details.
These synthetic identities, the report noted, have been used to bypass biometric verification systems, open bank accounts, obtain mobile loans and register SIM cards under false identities.
Neal Jetton, Director of INTERPOL’s Cybercrime Directorate, described cybercrime as one of the most significant criminal threats facing Africa.
“Cybercrime has emerged as one of the most significant criminal threats to the region. AI is automating every stage of a cyberattack from reconnaissance and phishing to extortion and evasion.
“However, we see that when countries work together, cybercriminal infrastructure can be identified, disrupted and dismantled,” he said.
Despite the growing threat, the report highlighted progress in strengthening cybersecurity across the continent.
It disclosed that 17 African countries enacted or amended cybercrime legislation in 2025, while Senegal launched an online reporting platform to improve responses to online offences affecting children.
The report also noted that regional capacity-building initiatives are helping to improve long-term cyber resilience.
INTERPOL said four major cybercrime operations conducted in 2025, Operation Serengeti 2.0, Operation Contender 3.0, Operation Sentinel and Operation Red Card 2.0, resulted in more than 1,500 arrests, the seizure of hundreds of electronic devices and the recovery of over 100 million dollars.
To address the growing threat, the report recommended the adoption of standardised digital forensic capabilities, stronger cross-border collaboration, greater investment in AI literacy for law enforcement personnel and formal public-private partnerships to improve cybercrime prevention, detection and response.
The African Cyberthreat Assessment 2026 forms part of INTERPOL’s African Joint Operation against Cybercrime initiative, funded by the United Kingdom’s Foreign, Commonwealth and Development Office, with data contributions from Fortinet, Mastercard, the Shadowserver Foundation, S2W and TrendAI.
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Nigeria Expands Deep-tech Skills Pipeline

Nigerian students will soon design, assemble, test and fly drones as part of their university education, following a partnership between Miva Open University and Abuja-based defence technology company Terra Industries.

The collaboration comes as Nigeria intensifies efforts to develop indigenous capabilities in advanced manufacturing and defence technology, with both organisations seeking to strengthen Africa’s pipeline of deep-tech talent.
The partnership will see students gain hands-on experience in drone engineering and related technologies through dedicated labs and industry collaboration.
The partners will establish robotics, drone and virtual reality laboratories across Miva’s study centres, beginning with a pilot facility in Abuja.
Students will also gain access to industry-led workshops, research opportunities, internships and mentorship in artificial intelligence, robotics, cybersecurity and autonomous systems.
According to the partners, Terra’s engineering teams will work alongside Miva faculty to integrate hands-on hardware training into academic programmes, exposing students to real-world engineering challenges and building industry experience before graduation.
Nathan Nwachuku, co-founder and CEO of Terra Industries, said Africa’s technological future depends on developing engineers capable of building solutions for local challenges.
“The engineers who will build Africa’s future must learn by building. This partnership creates opportunities for students to work with the technologies shaping modern security, infrastructure and autonomous systems,” said Nwachuku.
Miva Open University said the initiative forms part of its commitment to experiential learning, adding that students will have the opportunity to “design, test and fly drones as part of their academic experience”.
The partnership builds on Terra’s expanding role in Nigeria’s defence technology sector. Earlier this year, the company signed a joint venture with the Defence Industries Corporation of Nigeria to localise the production of drones, robotics systems and cybersecurity infrastructure, supporting efforts to strengthen domestic manufacturing and reduce reliance on imports.
News
Atte, Nigerian Develops AI Algorithm for Hair Transplants

Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.

Atte Ayodeji
Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.
Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.
His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.
Sunday Dare, special adviser on Media and Public Communication to President Tinubu, celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.
“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”
Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”
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