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Oil and gas companies desirous to reduce their tax burden and grow profitability should consider increasing investments in research and development (R&D),
He also discussed the importance of tax incentives in attracting investments, stimulating economic growth, encouraging compliance, and supporting small businesses. Nami highlighted the need for tax incentives to be designed and implemented in a fair, transparent, and sustainable manner, and the potential of research and development (R&D) to drive innovation, job creation, and economic growth.
The Executive Secretary lamented the gross underfunding of research in Nigeria which is estimated to be less than 0.2 % of the national budget, expressed the believe that the needed awareness would be created through the workshop to enable private sector to reverse the trend