An expert on power, Mr. Kunle Olubiyo, has appealed to the Federal Government to grant tax holidays in the power sector to promote the ease of doing business.
Olubiyo, who is also the President of the Nigerian Consumer Protection Network, said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday
“As much as possible, we are looking at the Federal Government granting a tax holiday (physical and non-physical) in the power sector during this emergency period.
“Like some of the revenue-collection agencies of the government, such as Customs, the Federal Inland Revenue Service, and what have you, they pride themselves on the figures that they are able to generate.
“But it has multiplier and negative effects on our competitiveness and cost of doing business in the power sector.
”The government is supposed to create some holidays or incentives, particularly at this period where we have a global food crisis, he said.
According to him, if the government gives a tax holiday for the electricity production value chain, it will translate to lowering the cost of electricity.
“And a lot of investors will like to come into the country to invest in the power sector.”
Olubiyo also said that the tax holiday would help boost disposable incomes and create more jobs in the sector.
“When more jobs are created, issues of tension strikes and unrest will be minimised,” he said. (NAN)
