Tinubu woos G-20 investors, FAAC meets over multiple taxation 

President Bola Tinubu has extended reassurances to international investors from G20 nations, affirming the safety of their investments within Nigeria’s borders.

This announcement was made during a panel discussion titled “Fostering Local Value Chains and Investments in Africa — The Role of the German Private Sector” at the G20 Compact with Africa Economic Conference, hosted by German Chancellor Olaf Scholz in Berlin on Monday.

Tinubu emphasized Nigeria’s substantial market size and expressed the country’s readiness to capitalize on its advantages for mutual success.

Concurrently, as President Tinubu engages in investor outreach in Germany, the Federation Account Allocation Committee (FAAC) is deliberating on measures to address the issue of multiple taxation in the country.

Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, conveyed this during the opening of FAAC’s retreat on Monday in Delta.

Edun assured that the government’s focus is not on burdening taxpayers with additional levies but rather on broadening the tax base while simplifying and streamlining tax administration across the nation.

President Tinubu underscored to the investors that his administration, in office since May 2023, has been actively implementing transformative changes, removing obstacles that impede business operations in the country.

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