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  "documentTitle": "2025 Nigeria Budget and Economic Outlook",
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      "text": "A timely implementation will restore confidence in governance and the economy, and build trust in the government's ability to attract and retain investors.",
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      "text": "Non-tax policies: Accelerated Stabilisation Advancement Plan, Import Duty Waiver on Food (105 days), New Minimum Wage, Subsidy removal in electricity sector, President signs three Executive Orders on Oil and Gas Reforms, Presidential Directive on Local Content Compliance Requirements, 2024, Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines, 2024, Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order, 2024",
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      "text": "Tax Policies: VAT Modification Order 2024, Deduction at Source (Withholding) Regulations 2024, Finance (Amendment) Act, 2024, Four Tax Reform Bills (Nigeria Tax Bill 2024, Nigeria Tax Administration Bill 2024, Nigeria Revenue Service Bill 2024, Joint Revenue Board Bill 2024)",
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      "text": "The current administration seeks to reform the tax laws which are believed to be old and unfit for current times. The VMO 2024 and WHT Regulations 2024 were introduced in 2024 while the four tax reform bills are expected to take effect when signed into law in 2025. The reforms were designed to stabilise and advance the economy, ease tax compliance, and optimise revenue generation in 2024 and beyond. A timely implementation will restore confidence in governance and the economy, and build trust in the government's ability to attract and retain investors.",
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      "text": "The government took some initiatives and legislative actions in the prior year aimed at influencing the fiscal environment. Some were proposed and yet to be implemented.",
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