Business
CICAN Conference X-rays“Manufacturing’s $1 trillion GDP target by 2030: Realities & Possibilities
The Commerce and Industry Correspondents Association of Nigeria (CICAN) has chosen “Manufacturing: $1 trillion GDP target by 2030: Realities & Possibilities,” as its 2024 conference theme.
The event will hold at the Radisson Blu Hotel in Lagos on November 21.
A statement from the CICAN Secretariat signed by its Chairman, Mr. Charles Okonji, said that the Director-General of Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi-Kadir, will address government officials, captains of industry and other stakeholders on the plight of the private sector in a commatoes economy.
He also disclosed that the Minister of Federal Ministry of Industry, Trade, and Investment (FMITI), Dr. Jumoke Oduwole; the Lagos State Governor, Babajide Sanwo-Olu; Gombe State Governor, Muhammadu Inuwa Yahaya; including the Chairman, Federal Inland Revenue Service (FIRS), Zacch Adedeji; Registrar -General, Corporate Affairs Commission (CAC), Sir. Hussaini Ishaq Magaji (SAN), and President of the Manufacturers Association of Nigeria (MAN), Otunba Francis Meshioye, would grace the event.
Others expected dignitaries include the President of Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Otunba Dele Oye Kelvin; and Chief Executive Officer (CEO) of Bullion Go-Neat Global Limited, Ambassador Olufemi Ajadi Oguntoyinbo.
Also, the CEO, Mallinson & Partners, Mr. Afam Mallinson Ukatu; Chairman, Nigerian in the Diaspora Organisation (NIDO), Russia branch, Mr. Uwem Sampson Edimo; CEO, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, and others would be available at the event.
The event would also be graced by representatives of Standards Organisation of Nigeria (SON); Bank of Industry (BOI); UBA Plc, Access Bank Plc, NQC, Moniepoint, Capacious Farms Limited, and many others.
The conference sponsors include Coleman Wire and Cables, Dufil Prima Foods Limited, Nigerian Breweries (NB) Plc; Nigerian Bottling Company (NBC), Rite Foods Limited, Unilever Nigeria Limited, Origin Tech Group, Dangote Industries Group (DIL), Tascon Plastic Industry; and TGI Group,.
Business
KPMG, NRS settle rifts over new tax laws
In its newsletter on January 9, KPMG said there are “errors, inconsistencies, gaps, omissions, and lacunae” in the new tax laws that require urgent reconsideration to ensure the achievement of their stated objectives.
KPMG executives and Zaach Adedeji, chairman of the Nigeria Revenue Service (NRS), held a meeting on Monday following the disagreement over the new tax laws.
In its newsletter on January 9, KPMG said there are “errors, inconsistencies, gaps, omissions, and lacunae” in the new tax laws that require urgent reconsideration to ensure the achievement of their stated objectives
However, on January 10, the presidential fiscal policy and tax reforms committee pushed back against KPMG’s critique, noting that KPMG does not understand the laws.
The committee said a significant proportion of the issues described as “errors,” “gaps,” or “omissions” by KPMG are either the firm’s own errors and invalid conclusions, or matters not properly understood by the firm.
In a statement on Monday, the NRS said that Adedeji hosted a courtesy visit from the delegation of the tax advisory firm.
” During the visit, the KPMG team clarified that their earlier opinion on the new tax laws “had been misconstrued and expressed regret over the misunderstanding.
“They sought further clarity on the provisions of the laws and highlighted areas where recommendations could be made.”
The source said that the meeting ended with the delegation commended the NRS chairman for efficiently and promptly implementing the reforms.
Business
IMF to release January 2026 World Economic Outlook update on Monday
The January WEO Update is expected to provide revised global growth forecasts and insights into inflation trends, monetary policy direction, and key risks facing the global economy in 2026.
The International Monetary Fund (IMF) will release its January 2026 World Economic Outlook (WEO) Update on Monday, January 19, 2026.
The report will be presented during a press conference hosted at the National Bank of Belgium in Brussels.
The press conference is scheduled for 10:30 a.m. The Brussels time and will be streamed live via the IMF website and Press Centre, allowing journalists to participate both in person and virtually.
The IMF’s economic assessment will be presented by Pierre-Olivier Gourinchas, Economic Counselor and director of the Research Department; Petya Koeva Brooks, deputy director of the Research Department; and Deniz Igan, Division Chief, Research Department.
The January WEO Update is expected to provide revised global growth forecasts and insights into inflation trends, monetary policy direction, and key risks facing the global economy in 2026.
Business
Heineken boss resigns after ‘turbulent’ six-year stint
“I believe this is the right moment,” said Van den Brink, 52, after almost six years at the helm “during which he has guided the company through turbulent economic and political times”.
• Dolf Van den Brink
Dolf van den Brink said on Monday he would step down on May 31 as the chief executive of Dutch brewer Heineken.
Van den Brink unexpectedly announced his resignation, as the company grapples with lower beer sales and job cuts in a difficult economic environment.
“I believe this is the right moment,” said Van den Brink, 52, after almost six years at the helm “during which he has guided the company through turbulent economic and political times”.
The change of leader comes at a tricky moment for Heineken, the world’s second-largest brewer after AB InBev.
Its most recent quarterly results, published in October, showed a steep decline in the amount of beer sold, with Europe and the United States driving the drop.
Van den Brink acknowledged at the time that the firm was dealing with a “challenging environment, resulting in a mixed performance”.
Heineken posted total net sales of 7.3 billion euros ($8.5 billion) for the third quarter, down from 7.6 billion in the second quarter.
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