Business
FG Approves RMRDC’s Tax Incentive Scheme to Boost Research and Local Raw Materials Development
By Joel Ajayi
The Raw Materials Research and Development Council (RMRDC) has secured the Federal Government’s approval to implement a new tax incentive regime aimed at boosting research and the development of local raw materials in Nigeria.
This was disclosed by the Director-General of RMRDC, Prof. Nnayelugo Ike-Muonso, during the media briefing on Friday in Abuja.
According to Prof. Ike-Muonso, the approval marks a significant milestone in the council’s efforts to promote indigenous research and innovation, and reduce Nigeria’s dependence on imported raw materials. He said the incentive scheme is designed to encourage private sector investment in research and development, particularly in sectors critical to Nigeria’s industrialization.
“This tax incentive framework will catalyze innovation by rewarding companies that invest in the development and utilization of local raw materials. It is a strategic step toward achieving sustainable industrial growth and self-reliance,” he said.
The RMRDC boss noted that industries participating in the programme would benefit from tax rebates, deductions, and other fiscal incentives, provided they commit to measurable R&D activities and adopt locally sourced inputs in their production processes.
He added that the council had engaged relevant stakeholders, including the Federal Inland Revenue Service (FIRS), the Ministry of Finance, and private sector players, to ensure smooth implementation and compliance.
“This initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes economic diversification and industrial growth through science, technology, and innovation,” he emphasized.
Prof. Ike-Muonso also revealed that the RMRDC would roll out a nationwide sensitization campaign to educate manufacturers, investors, and research institutions on how to access and benefit from the incentives.
Stakeholders have welcomed the move as a timely intervention that could significantly enhance Nigeria’s capacity to process and add value to its abundant raw materials, drive job creation, and strengthen the nation’s industrial base.
Business
NTDA: Naija Flavour Poised to Create Wealth, Empower SMEs, and Drive National Growth
Joel Ajayi
The Director General of the Nigerian Tourism Development Authority (NTDA), Olayiwola Awakan, has affirmed that the 2025 edition of Naija Flavour… Destination December will play a pivotal role in creating wealth, empowering local businesses, strengthening the creative economy, and accelerating national growth.
Scheduled for December 13, 2025, Naija Flavour will showcase a vibrant marketplace of culture, food, fashion, games, live theatre, and music. Designed as a platform for SMEs to increase visibility, attract customers, and build partnerships, the event aligns with President Bola Ahmed Tinubu’s economic priorities under the Renewed Hope Agenda.
Speaking at the launching in Abuja on Friday, the DG described Naija Flavour as a strategic cultural tourism initiative that channels Nigeria’s identity, creativity, and entrepreneurial energy into economic impact.
“Naija Flavour has been conceptualised to generate wealth, empower local businesses, strengthen our creative economy, and build a tourism experience that sustains itself and stimulates national growth,” Awakan said.
He noted that Nigeria’s globally recognised Detty December culture has become a magnet for visitors seeking the country’s music, food, nightlife, and cultural vibrancy. NTDA, he explained, saw an opportunity to transform this natural phenomenon into a structured tourism product.
“Nigeria is not just a country; we are a global vibe. So, we asked ourselves: how do we package that vibe into a tourism experience that drives jobs, revenue, and international attention? Naija Flavour is our answer,” he said.
To amplify cultural tourism, NTDA also unveiled a theatrical production titled Echoes of the Drums—a celebration of unity, ecotourism, folklore, and Nigeria’s ancestral heritage. Written by Ola Awakan and directed by Isioma Williams, the production will serve as a centrepiece for cultural storytelling.
Awakan expressed appreciation for institutional partners including The Monoliza Abuja, NIHOTOUR, the National Troupe of Nigeria, CBAAC, NFVCB, and GOTHAD.
He called on the media, corporate bodies, SMEs, and creative entrepreneurs to support the movement and seize the opportunities Naija Flavour will unlock.
“Let the flavours travel. Let the world know that Nigeria is shaping tourism with innovation, entertainment, and economic impact,” he said.
Encouraging Nigerians and global visitors to save the date, he added: “Naija Flavour is a celebration of our diversity, creativity, and innovation. Under the Renewed Hope Agenda, we will continue to build a tourism industry that generates income, sustains jobs, and promotes national pride. Let the drums speak. Let the flavours rise. Let Nigeria shine.”
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