Globally, Nigeria ranks 182 out of 189 countries on the ease of paying taxes index.[1] Between 2010 and 2016, Nigeria dropped in ranking from 119 to 182. This largely explains the low tax to GDP ratio currently standing at 2.8%.[2] Amidst this poor ranking, drop in oil prices, and slow growth recorded in 2016, the Nigerian government is determined to make Nigeria one of the top 50 countries in the ease of paying taxes index. This has recently been demonstrated in the Revised

Businesses run at a loss due to lack of information on the best structure for their investments. In Nigeria, many business owners do not understand the basic and fundamental principles, and so tend to run their limited liability companies as sole traders. Naturally small and medium scale businesses face many challenges that limit their long-term survival and rate of development. This is further compounded where there is a lacuna in the business promoters’ knowledge base. Ther