Suspend The Gaseous Emission Levy
Not many Nigerians especially business owners in the Federal Capital Territory ( Abuja ) are amused that Abuja Municipal Area Council levies N100, 000
According to the 2020 World Bank Doing Business report, Nigeria ranks 171 out of 190 countries in getting electricity which is seen as one of the major constraints for the private sector.World Bank Country Director, Shubham Chaudhuri, had said that Improving access and reliability of power is key to reducing poverty and unlocking economic growth in the aftermath of the global COVID-19 pandemic. We cannot agree less.
Vice President Yemi Osinbajo in 2019 had said that the federal government had pumped in about N1.5 trillion in intervention fund into Nigeria’s power sector in the last two years.Yet Nigeria has not been able to generate more than 5000mw of electricity.
It needs not be said that business owners in trying to stay in business use generator sets. This is expensive and has pushed the cost of production to the roof top. Now they are being taxed for trying to survive and generate employment for thousands of unemployed youths despite the harsh business environment in which they operate. headtopics.com
To be sure, it’s not only in FCT that business owners are saddled with different taxations, it’s the same all over the country .It is pertinent to note, therefore, that multiple taxations occur where the tax is levied on the same person in respect of the same liability by more than one State or Local Government Council.
According to experts, multiple taxation depletes returns on investment, erodes the capital base of listed firms, and subsequently trigger business collapse .Granted, the government at all levels are on an aggressive revenue drive in the face of dwindling oil revenues but that should not be do
ne at the expense of the survival of businesses as it is capable of driving more people into the pool of the unemployment market.In view of the foregoing, we call on AMAC to immediately suspend the gaseous emission tax as in our view it is senseless, inconsiderate and capable of killing more businesses. The tax can only come into place when the government has provided 24 hours power supply so that businesses can run effectively without the use of generator sets. .Read more: LEADERSHIP Newspaper »
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