{"id":1284,"date":"2023-12-29T08:57:20","date_gmt":"2023-12-29T08:57:20","guid":{"rendered":"https:\/\/arritoneconsult.com.ng\/blog\/?p=1284"},"modified":"2023-12-29T08:57:22","modified_gmt":"2023-12-29T08:57:22","slug":"nigerias-non-oil-asset-hold-trillions-potential-to-earn-n10tn-annually","status":"publish","type":"post","link":"https:\/\/arritoneconsult.com.ng\/blog\/2023\/12\/29\/nigerias-non-oil-asset-hold-trillions-potential-to-earn-n10tn-annually\/","title":{"rendered":"Nigeria’s Non-Oil Asset Hold Trillions Potential to Earn N10tn Annually"},"content":{"rendered":"\n

In a groundbreaking revelation, Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has underscored the colossal potential of Nigeria’s Non-Oil Asset, estimating their worth to be between N80tn and N100tn. Speaking at a high-profile stakeholders’ forum organized by the Harvard Business School Association of Nigeria in Lagos, Oyedele asserted that the efficient management of these overlooked assets could pave the way for an annual revenue windfall of N10tn.<\/p>\n\n\n\n

Nigeria’s Non-Oil Asset, Shedding light on the mismanagement plaguing these valuable resources, Oyedele revealed shocking instances, including the registration of a company with the Corporate Affairs Commission to hold assets worth trillions of naira, while shareholders remained within the nation’s borders. This stark negligence, according to the chairman, has hindered the realization of the full economic potential of these assets.<\/p>\n\n\n\n

The visionary chairman emphasized the urgent need for enhanced asset management, advocating for the sale of underperforming assets to generate liquidity and invigorate economic growth. Oyedele highlighted the transformative impact of efficient management, stating, “Imagine that you become more efficient with a N100tn asset alone, even if you get a return of 10 per cent yearly, that’s easily N10tn. If you cannot manage the asset well, then sell it, and get liquidity in.”<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The Committee, under Oyedele’s leadership, is set to unveil a comprehensive tax reform package aimed at catalyzing economic growth and alleviating the tax burden on businesses. Central to this reform agenda is a keen recognition of the challenges faced by businesses, particularly the strain imposed by taxes on working capital.<\/p>\n\n\n\n

Revealing insights into the proposed tax reforms, Oyedele disclosed the drafting of a new tax regulation, currently awaiting legislative approval. He clarified, “We have drafted a new tax regulation. The only reason why it hasn’t been published is that some of the things we included will amend the existing laws, so we put the amendment in the emergency bill waiting for the lawmakers to pass, so we can then issue the regulation.”<\/p>\n\n\n\n

This revelation marks a pivotal moment in Nigeria’s economic strategy, positioning non-oil assets as a key driver of sustainable revenue and economic prosperity. The anticipated tax reforms further reflect a commitment to fostering a balanced and conducive environment for businesses to thrive and contribute to the nation’s economic growth.<\/p>\n\n\n\n

For more news visit https:\/\/arritoneconsult.com.ng\/blog<\/a><\/p>\n\n\n\n

For more educational post visit examhood.com.ng<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In a groundbreaking revelation, Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has underscored the colossal […]<\/p>\n","protected":false},"author":4,"featured_media":1285,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-1284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nNigeria's Non-Oil Asset Hold Trillions Potential to Earn N10tn Annually - Arritone Consult<\/title>\n<meta name=\"description\" content=\"Nigeria's Non-Oil Asset valued in trillions could yield an annual windfall of N10tn, reveals Chairman of Fiscal Policy Committee.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/arritoneconsult.com.ng\/blog\/2023\/12\/29\/nigerias-non-oil-asset-hold-trillions-potential-to-earn-n10tn-annually\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria's Non-Oil Asset Hold Trillions Potential to Earn N10tn Annually - 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