The Federal Government on Tuesday unveiled its Economic Recovery and Growth Plan after consultations with stakeholders from both the public and private sectors of the economy.
The plan includes raising the Value Added TAX (VAT) rate on luxury items from current 5% to 15%. The Government is projecting raising N350bn through the increase in VAT rate on luxury items and improvement in company’s income tax, which would commence in 2018.
Nigerian Bottling Company Limited (NBC), bottler of the famed Coca-Cola soft drinks in Nigeria has been honoured with the prestigious National Productivity Order of Merit Award (NPOM) by his Excellency, Muhammadu Buhari, President of the Federal Republic of Nigeria.
The Award ceremony which took place on 21 February, 2017 in Abuja was part of the 16th National Productivity Day Celebration themed ‘Productivity for Sustainable Entrepreneurship and Employment’.
