By Dele Ogbodo
The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has expressed preparedness to address concern surrounding the Financial Reporting Council of Nigeria (FRCN) levy
A statement signed by the Ministry’s Director of Public Affairs, Mr. Adebayo Thomas said at the centre of the discussions is Section 33(1)(c) of the FRCN Act, which stipulates that quoted companies are to pay annual dues based on 0.002% of their market capitalization or ₦25 million, whichever is lower.
He said the Ministry is therefore collaboration with the FRCN, is convening a stakeholder forum to address the annual FRCN levy.
He said: “This engagement comes in direct response to concerns raised by the organized private sector and other key stakeholders.
“The forum, scheduled to hold on Wednesday, March 26, 2025, in Abuja and streamed online, will serve as a platform for open dialogue and a review of the current framework.
” In line with President Bola Tinubu’s 8-Point Agenda, the administration remains committed to being a listening government.
“This convening reflects the federal government’s broader commitment to transparency, fairness, and alignment with international best practices, with a strong focus on improving Nigeria’s business environment.”
Considering the issues raised, he added that the Minister reaffirmed the Ministry’s dedication to stakeholder collaboration, stating:
“The Ministry remains committed to working closely with stakeholders. Constructive dialogue around regulatory policies is essential to ensure that all businesses — large and small — are supported in a fair and sustainable way.
“This is critical to enhancing business competitiveness and aligning with Nigeria’s broader economic transformation agenda.”
