Buhari ready help business grow
It seems like you're referring to the Nigerian President, Muhammadu Buhari, and his administration's efforts to support businesses in the country. Here's a summary of some initiatives and policies aimed at promoting business growth in Nigeria:
- Economic Recovery and Growth Plan (ERGP): Launched in 2017, the ERGP is a 4-year plan aimed at reviving the economy, promoting economic growth, and creating jobs. The plan focuses on key sectors such as agriculture, manufacturing, and infrastructure development.
- Small and Medium-Scale Enterprises (SMEs) Development: The Buhari administration has implemented various initiatives to support SMEs, including the creation of the Bank of Industry (BoI) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). These institutions provide financing, training, and other forms of support to SMEs.
- Agricultural Development: The government has launched several initiatives to boost agricultural production, including the Anchor Borrowers' Programme, which provides loans to farmers at a single-digit interest rate. This program aims to increase food production, reduce imports, and create jobs in the agricultural sector.
- Infrastructure Development: The administration has invested in infrastructure development, including the construction of roads, bridges, and rail lines. This is aimed at improving connectivity, reducing transportation costs, and increasing the ease of doing business in Nigeria.
- Tax Reforms: The government has implemented tax reforms aimed at reducing the tax burden on businesses and increasing revenue. The reforms include the introduction of a new tax regime, which reduces the corporate tax rate from 30% to 20%.
- Ease of Doing Business: The Buhari administration has implemented various reforms aimed at improving the ease of doing business in Nigeria. These reforms include the simplification of business registration processes, the reduction of bureaucratic hurdles, and the introduction of a single-window system for customs clearance.
- Investment Incentives: The government has introduced various investment incentives, including tax holidays, duty-free imports, and other forms of support to attract foreign investment and promote domestic investment.
While these initiatives are aimed at promoting business growth in Nigeria, it's essential to note that the country still faces several challenges, including corruption, insecurity, and infrastructure deficits. However, the Buhari administration's efforts to address these challenges and promote business growth are ongoing.