THE TAXAIDER NEWSLETTER VOL 1.11 (NOVEMBER 2019)

The National Bureau of Statistics recently released Q3 2019 reports and I had cause to actually wonder if perhaps we were finally getting something right. The recent border closure and its attendant effects have been met with a lot of reactions from people across all divides in Nigeria. It was a sudden paradigm shift. For once, it was looking like the leadership had finally found the nerve to make certain daring changes and because this wasn’t something we were quite used to, the resulting apprehension was quite understandable in all fairness.

How were we going to feed? We practically depended on goods crossing the border into the country. Our rice, frozen foods and a host of other goods came from across the border and now this border was being closed? Could we produce enough at home to feed ourselves? Well, in all honesty, so far, it’s looking like we are finally stepping up to the challenge of becoming more responsible for our own survival and possibly the survival of others around us and enjoy the actual resultant benefits.

The economy grew over the last quarter (July to September) by about 2.28% with a 0.47% increase on YoY basis (Q3 2019 v Q3 2019) and 10.16% on QoQ basis (Q2 2019 v Q3 2019). I would like to watch how things pan out in Q4 2019 and if there is some significant growth as I expect, then maybe the Federal Government may have finally gotten things right for once from this perspective and more measures could be taken to push us on the path of self-sufficiency and a stronger economy.

That said, I would like to wish you a Merry Christmas in advance as this would be the last edition of The TaxaideR before the Christmas celebrations and I sure would not want to miss out on wishing you a wonderful celebration.