E-Business
Presidential Tax Reforms Committee Moves to Boost BPO Business in Nigeria

Worried by the dwindling fortune of Business Process Outsourcing (BPO) business in the country, Presidential Fiscal Policy and Tax Reforms Committee has identified the impediments to its growth and moves to remove them to ensure that the country takes a pride place in the sector.

Taiwo Oyedele, chairman of the committee, said at a workshop for journalist in Lagos on Thursday that his committee identified tax structure in the country which hinders international organizations from hiring Nigerians living in the country to work for them.
“Our existing tax structure demands that any company outside of Nigeria that hires Nigerians living in the country to work remotely will be expected to pay tax on the company’s income as well as on the income of the Nigerian working for the company.
“This tax structure has pushed overseas companies away from Nigeria to countries such as India and Philippines that their BPO sector have grown exponentially. With the removal of tax on the company’s income, we have created a level playing ground for BPO business to flourish in the country,” he said.
It would be recalled that Kashifu Inuwa Abdullahi, director general, the National Information Technology Development Agency (NITDA) had put the worth of Business Process Outsourcing (BPO) ecosystem in the country at $285.8Million.
According to Inuwa, “today, Nigeria Outsourcing sector worth $285.8M employing 16,540 Nigerians mostly living in Nigeria and working for companies outside Nigeria.
“We started in 2020 with a strategy and engaged with the Business Process Outsourcing (BPO) to develop the strategy and some of them started operations in the mid of 2020 and we want to expand this because we believe the sector will create more jobs than any other sector in Nigeria”.
Oyedele, added that his committee has proposed a single digit number of 8 taxes to be collected by all the tiers of governments in the country.
“One of the critical challenges facing the tax system in Nigeria is the shockingly high level of non-compliance as a result of low tax morale. Tax Morale is the willingness to comply with taxes and the belief that tax evasion is wrong,” he noted.
He said the principle behind these is to do away with nuisance taxes with very low revenue yield, high cost of collection and ultimate burden on the poor and small businesses.
“Focus on high revenue yielding taxes, that are broad-based and relatively ease to collect. Merge taxes and levies that are imposed on the same or substantially similar tax base. Institutionalize the tax harmonization reform to ensure sustainability,” he stated.
According to him, “the outcomes expected include; Eliminate informal & implicit taxes, harmonise tax administration, rationalize tax incentives, leverage technology and big data, modernise customs administration, simplify compliance, optimise resources and government assets.
Budget better – Restructure the budget (classify items under infrastructure; human capital investment; personnel cost, headcount & productivity; administrative overheads; debt service & sinking funds), fully implemented zero based budgeting, and introduce long term appropriation.
Spend better – Tackle systemic corruption, prioritise spending on basic needs to address multidimensional poverty, restrict borrowing to productive spending and self-financing projects, leverage PPP and equity financing for viable projects, enhance public procurement effectiveness.
Manage better – Leverage technology for revenue, debt, and expenditure management. Adhere to fiscal rules and benchmark with strict penalties for violations. Establish a national fiscal risk framework and processes to prevent, detect, and correct financial infractions.
Report better – Harmonise and standardise reporting, provide transparent and timely information, enhance audit & internal control, administer consequences.
The eight proposed taxes are; Income Tax; Value Added Tax; Property tax; Customs duties; Excise tax; Stamp duties; Special levy and Harmonised levy.
E-Business
Report Shows Start-ups Fuel Innovations in Africa

Bloomberg has released its second annual “25 African Startups to Watch” list, underscoring the growing influence of venture-backed innovation across the continent.

Published thursday, the list highlights companies building solutions in “environments where infrastructure or systems have failed to deliver.”
The featured start-ups build solutions to challenges such as accessing healthcare in Chad, moving goods in Kenya, securing loans in South Africa, and safeguarding borders in Nigeria.
Nigeria, South Africa and Kenya jointly lead with four companies each, reflecting the ongoing strength of Africa’s three most visible start-up ecosystems.
The 25 companies span 13 countries and sectors including healthcare, fintech, security, climate resilience, waste management, and transport.
Nigeria’s four startups are 10mg Health, Remedial Health, Sycamore and Terra Industries, covering areas from healthcare financing and pharmaceutical supply chain integrity to digital lending and defence technology.
South Africa’s contingent includes Omnisient, Amesect, AURA and Jem. Omnisient uses grocery purchase data and AI to extend credit to those outside traditional financial systems.
Kenya’s notable four include Zeraki, a school-data analytics platform partnering with Safaricom to reach secondary students across the country.
According to Bloomberg, a defining theme this year is the source of funding.
Nearly half of the total capital raised by these start-ups came from African investors, marking a shift from previous years when international capital predominantly drove early growth.
International backers such as 8VC, controlled by Palantir Technologies co-founder Joe Lonsdale, and Google continue to see value in investing in African companies, Bloomberg noted.
The report also highlights that start-ups across the continent almost doubled their debt fundraising in 2025, even as equity financing from venture capital firms declined.
Separately, the Start-up Ecosystem Report 2026 states that Kenya has overtaken Nigeria as Africa’s top startup investment destination, attracting $984 million in 2025.
Jennifer Zabasajja, Bloomberg Television’s chief Africa correspondent and anchor, highlighted the dual significance of the list, the variety of solutions being built and the growing role of African-sourced capital in backing them.
She noted that the list comes at a consequential moment, one shaped by global disruptions, from the conflict in Iran to sweeping cuts in US foreign healthcare assistance, that have made the case for African-owned capital more urgent than ever before.
E-Business
NDPC Raises Alarm: Fake News, Data Abuse Could Destroy Nigeria’s 2027 Elections

Nigeria Data Protection Commission has warned that the growing misuse of personal data and digital platforms could undermine Nigeria’s democratic process ahead of the 2027 general elections.

NDPC
The warning was delivered during the 2026 Press Week organised by the FCT Council of the Nigeria Union of Journalists in Abuja.
Speaking at the event, Vincent Olatunji, national commissioner and chief executive officer, NDPC, who was represented by Itunu Dosekun, head of Media Unit at the commission, said disinformation and unlawful exploitation of personal data posed serious threats to credible elections.
The event had the theme: “2027 Election: Defending Democracy in the Era of Disinformation.”
Dosekun said the struggle for credible elections was no longer confined to polling units, noting that digital platforms had become major channels for manipulated narratives, fake news, propaganda and AI-generated misinformation.
According to him, the rapid growth of social media platforms, messaging applications and data-driven political campaigns has created vulnerabilities capable of influencing voter perception and weakening public trust in democratic institutions.
He warned that the abuse of personal data for political profiling and psychological targeting had become one of the most dangerous threats facing democracies worldwide.
“The misuse of citizens’ personal information carries serious social implications, especially for vulnerable groups who may not fully understand how their data is harvested, processed and weaponised online,” he said.
Dosekun noted that coordinated disinformation campaigns could inflame ethnic tensions, spread fear and discourage civic participation, particularly among young Nigerians.
He described the Nigeria Data Protection Act, 2023, as a critical legal framework aimed at protecting citizens against unlawful data processing and digital exploitation.
According to him, the law gives Nigerians greater control over their personal information while placing obligations on organisations, institutions and political actors to handle data responsibly.
Dosekun also called for stronger collaboration among political parties, media organisations, technology firms, civil society groups and citizens to promote responsible digital behaviour ahead of the elections.
He stressed the role of journalists and media professionals in combating fake news, fact-checking information and safeguarding public discourse.
According to him, protecting personal data should not only be seen as a privacy issue but also as a democratic responsibility necessary for maintaining public confidence, national stability and electoral credibility.
Stakeholders at the event emphasised the need for improved digital literacy, stronger regulation and increased public awareness to prevent the abuse of digital platforms during future elections.
E-Business
Anthropic Raises $65 Bn to Expand AI Research, Innovation

Anthropic, artificial Intelligence company, has said that it has secured sixty-five billion dollars in a new funding round, raising the company’s valuation to about nine hundred and sixty-five billion dollars.

The development places the company ahead of its rival, OpenAI, maker of ChatGPT, which was valued at about eight hundred and fifty-two billion dollars earlier this year.
Anthropic, founded by former OpenAI employees and led by Dario Amodei, chief executive officer, has emerged as one of the leading firms in the global Artificial Intelligence industry.
The company is widely recognised for its advanced coding capabilities and generative AI models, particularly its AI assistant known as Claude.
Unlike some competitors focusing mainly on general consumers, Anthropic has concentrated on delivering AI solutions to enterprise and business clients.
The company also says it places strong emphasis on AI safety while expanding its products and services amid growing competition in the sector.
Krishna Rao, chief financial officer of Anthropic, said the new funding would support the company’s research efforts and help meet rising global demand for its AI technologies.
Reports indicate that the investment round attracted major Silicon Valley venture capital firms, including Altimeter Capital, Dragoneer, Greenoaks and Sequoia Capital.
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