Infrastructure in Nigeria

Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme

His Excellency, President Muhammadu Buhari, GCFR, on 25 January 2019, signed the Executive Order No. 007 on Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme (“the Scheme”). The Scheme is for a period of 10 years from its commencement date.

The Scheme is a public-private partnership intervention that enables the Federal Government of Nigeria (FGN) to leverage private sector capital and efficiency for the construction, refurbishment and maintenance of critical road infrastructure in key economic areas in Nigeria.

Participation in the Scheme is open to every Nigerian company, acting on its own or in concert with other Nigerian companies, and institutional investors (hereafter referred to as “Participants”) wishing to construct or refurbish any road identified and designated by the FGN as an “eligible road”under the Scheme.

Participants will be entitled to utilize the total cost, hereafter referred to as “Project Cost”, incurred in the construction or refurbishment of an eligible road as a Tax Credit against their future Companies Income Tax (CIT) liability, until full cost recovery is achieved.

Contact Us

Lagos

KPMG Tower,

Bishop Aboyade Cole Street Victoria Island

Tel: +234 9068459329

Abuja

84, Kwame Nkrumah Crescent,

Asokoro Abuja. FCT.

Tel: +2349062278732

Business In Nigeria KPMG Nigeria

 KPMG Business Services (KBS) addresses the growing demand from our clientele to outsource non-core business functions effectively. Operating within Nigeria, KBS serves as a strategic partner, alleviating clients of the complexities associated with regulatory compliance, thereby enabling them to concentrate on their primary business objectives. Our comprehensive suite of services encompasses:

Immigration Solutions:

We offer expert guidance on immigration compliance requirements, facilitating the acquisition of appropriate visas for individuals seeking to visit, reside, or work within Nigeria. Our services include securing Business Permits, Expatriate Quota facilities, relevant Entry Visas, Work Permits, filing of Statutory Returns, resolving Immigration Queries, and conducting Immigration Compliance Audits.

Administrative Staff Recruitment and Contract Personnel Management:

KBS specializes in recruiting administrative staff and managing temporary and contract personnel for our clients. Our services extend to training, payroll administration, and the remittance of all statutory deductions and contributions, ensuring seamless operations.

Country Briefing Services:

Tailored to expatriate personnel and their families, our Country Briefing sessions provide invaluable insights into the nuances of living and working in Nigeria. Covering topics such as Culture and Communication, Economic and Business Environment, Security Issues, Social Services, Recreational Facilities, Entry and Exit Protocols, and Pre-assignment Visits, these briefings equip individuals with essential knowledge for a successful transition.

Home and Office Space Rental Assistance:

Recognizing the importance of efficient time management during the initial stages of operations, we collaborate with reputable estate agents to facilitate the inspection and evaluation of residential and commercial properties. Our process involves compiling a shortlist of properties that align with client specifications and requirements, streamlining the selection process.

Meet and Greet Services:

Ensuring a warm welcome for our clients, KBS arranges seamless immigration clearance and airport transfers upon their arrival in Nigeria, fostering a positive and hassle-free experience from the outset.

By leveraging KPMG Business Services, clients can optimize their operational efficiency while navigating the complexities of the Nigerian business landscape with confidence.

Financial advisory - KPMG Nigeria

KPMG Nigeria Advisory Team works with the world’s leading organizations to create and protect the sustainable value of their business.

KPMG Nigeria Advisory professionals work with you to cut through the complexities of today’s rapidly changing marketplace. We leverage the knowledge and skills across our global network of firms to develop practical recommendations designed to help you work smarter, grow faster and compete stronger.

We are trusted financial advisors to the world’s organizations. They choose us because we are known for our talented people, technical expertise, deep industry insights and our ability to get the job done.

Contact Us:

Lagos

KPMG Tower,

Bishop Aboyade Cole Street Victoria Island

Tel: +234 9068459329

Abuja

84, Kwame Nkrumah Crescent,

Asokoro Abuja. FCT.

Tel: +2349062278732 

Fintech Services - KPMG Nigeria

Fintechs are the new economic currency in the emerging markets providing the opportunity for customers and service providers to realize increased financial inclusion, innovation and disruptive business models for profitability, growth and overall value creation. However, with advanced technology and changing business models comes associated risks which need to be mitigated for survival.

KPMG‘s Fintech Assurance Service focuses on identifying, managing, and mitigating the

risks associated with Fintechs Technology environment. Our experienced cross-functional team possesses industry, regulatory and functional knowledge, as well as the requisite technical skills to help you design and implement appropriate risk mitigating controls for your business.

Our Fintech (IT) Assurance Services are specially tailored for FinTechs and covers the following core IT areas:

• Technology Gap Assesment 
• IT Internal Audit Services
• Revenue Assurance 
• Data Analytics & Big Data
• IT Governance, Risk & Compliance Review
• IT Performance and Change Managements Review
• IT Due Diligence (IT Deals Audit)

Who We Help

Our services are benficial to FinTechs involved in the following areas:

• Savings and Invetsment
• Lending and Credit
• Payments
• Enterprise Financial Software
• AgriTech, RegTech, other FinTech players

Business that typically benefit from our services include:

Firms that require independent IT risk assessments and and/or compliance reviews, along with recommendations for risk mitigation.

Companies that require in-depth revenue assurance reviews to ascertain completeness and accuracy of reported revenue.

Information technology, Information security, risk management, internal audit, legal and compliance and application development teams looking to assess (a) development and deployment procedures, (b) secure coding practices and policies, and/or (c) governance and operational processes. 

infrastructure in Nigeria

 Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme

His Excellency, President Muhammadu Buhari, GCFR, on 25 January 2019, signed the Executive Order No. 007 on Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme (“the Scheme”). The Scheme is for a period of 10 years from its commencement date.

The Scheme is a public-private partnership intervention that enables the Federal Government of Nigeria (FGN) to leverage private sector capital and efficiency for the construction, refurbishment and maintenance of critical road infrastructure in key economic areas in Nigeria.

Participation in the Scheme is open to every Nigerian company, acting on its own or in concert with other Nigerian companies, and institutional investors (hereafter referred to as “Participants”) wishing to construct or refurbish any road identified and designated by the FGN as an “eligible road”under the Scheme.

Participants will be entitled to utilize the total cost, hereafter referred to as “Project Cost”, incurred in the construction or refurbishment of an eligible road as a Tax Credit against their future Companies Income Tax (CIT) liability, until full cost recovery is achieved.

tax - KPMG

 Attitudes to tax are changing. Organizations of all sizes are ever more exposed to new trends in tax regulation, not just locally but globally.

KPMG is at the forefront of an evolving tax landscape

As a leading tax network, we believe that we – as individual tax professionals have a duty to engage in the discussion and debate surrounding Tax Transparency and Responsibility. As the tax strategies of multinationals and domestic companies continue to be examined by both tax authorities and the public alike, we work with our clients to develop tax strategies that are fit for purpose in the tax system of tomorrow.  

Working with clients to define the tax department of tomorrow. To keep pace with the reporting changes, multinational corporations will need to evaluate their in-house resources to determine if they will be able to manage additional requirements and responsibilities. They will also need to assess their systems to ensure that they can meet new requirements for multijurisdictional reporting. 

Our tax professionals are also bound by our Principles for a Responsible Tax Practice, which set out additional fundamental ethical principles and behaviours.

Contact Us

Lagos
KPMG Tower,
Bishop Aboyade Cole Street Victoria Island

Tel: +234 9068459329

Abuja
84, Kwame Nkrumah Crescent,
Asokoro Abuja. FCT.

Tel: +2349062278732

Digital strategy - Kpmg

 Boye Ademola, Partner & Lead, Digital Transformation, KPMG Africa, in his overview of the event, said “At KPMG, we believe one of the enduring responses to the pandemic now and post-COVID19 is Digital. In simple terms, banks need to urgently scale up on capabilities to deliver products and services via digital channels. It is in this light that we have performed a series of user journey-centered assessments culminating in the Digital Channels Scorecard for retail banks in Nigeria. The Scorecard provides an industry perspective of how effective banks are in delivering products and services to customers via digital channels by measuring user experiences across a range of journeys for each bank. This webinar will attract a variety of business leaders from financial services, telecoms and other sectors that have a keen focus on retail growth via digital capabilities.”

Ngozi Chidozie, Strategy and Digital, Management Consulting, KPMG in Nigeria, commented as follows, “The webinar will highlight our observations on leading practices, emerging trends and perspectives on opportunities for improvement of the overall digital channels experience across the Nigerian retail banking sector. That is why this upcoming event is themed: “Leveraging Superior UX on Digital Channels to drive Retail Banking Growth.”

Ladi Asuni, Partner, Digital Transformation opined that, “The release of the Digital Channels Scorecard publication is the first in a series to come, designed by KPMG for retail banks in Nigeria to have an objective understanding of their competitive positioning with respect to leveraging digital capabilities to deliver products and services. The upcoming webinar will also feature industry experts such as Akeem Lawal (Divisional Chief Executive Officer, Payment Processing, Interswitch), Bode Abifarin (Chief Operating Officer, Flutterwave) and Meaghan Johnson (Internationally renowned Fintech Researcher and UX Expert).

Boye Ademola also added ”The KPMG Digital Channels Scorecard unveils in-depth sector and domain insights from our user journey-centered assessments. It includes a benchmark of Digital Channels for retail banks in Nigeria using the proprietary KPMG Digital Channels UX Assessment Framework which employs the “mystery shopper” review approach. This edition of the publication covers the 17 commercial banks that have a strong focus on retail banking. These banks have international or national banking licenses and retail banking operations across the country.”

Egheosa Onaiwu, Associate Director, Clients & Markets, KPMG in Nigeria, in his statement encouraged “industry stakeholders to register for the event on the KPMG website using the web address, while the main hashtag for the webinar, #KPMGDigitalChannelsScorecard can be used to engage content across the KPMG social media channels, which include LinkedIn, Twitter, Facebook and Instagram.”

Contact Us

Lagos

KPMG Tower,

Bishop Aboyade Cole Street Victoria Island

Tel: +234 9068459329

Abuja

84, Kwame Nkrumah Crescent, 

Asokoro Abuja. FCT.

Tel: +2349062278732