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NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER, 2016 The useful life of trailers was adjusted from 4 years to 6 years. This resulted depreciation expense falling by ₦1.5 billion. 4.2.4 Valuation of deferred tax The recognition of deferred tax assets requires an assessment of future taxable profit. Deferred tax assets are only recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. The availability of future taxable profits depends on several factors including the Group’s future financial performance and if necessary, implementation of tax planning strategies. 170 Annual Report 2016

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