Finance Act to significantly benefit MSMEs, FMCG, say experts

Experts in Nigeria’s financial services sector have said the provisions of the Financial Act 2020, recently signed into law by President Muhammadu Buhari, would significantly benefit the Fast-Moving Consumer Goods (FMCG) space, especially from the perspective of the Micro, Small and Medium Enterprises (MSMEs).
According to the experts, MSMEs with gross revenue of N25million and below are now exempted from paying Company Income Tax (CIT), which is a more