Power: Expert wants FG to address multiple taxation

Mon, Jun 10, 2024
By editor
2 MIN READ

Power

AN expert in the power sector, Mr Kunle Olubiyo has appealed to the Federal Government to  address multiple taxation in the sector.

Olubiyo, who is also the President, Nigeria Consumer Protection Network (NCPN),  said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday.

According to him, government need to reduce the multiple bullet being fired at the end users as taxes.

“All taxes that manufacturers are made to pay are being transferred to the end users.

“Businesses that have multiplier effect on job creation and production in the sector should be looked into.

“Taxes are making it difficult for us to breathe, so this is the area we want government to look at, particularly the manufacturing sector.

“When the physical and non-physical incentive is granted to the manufacturing sector, it translates into multiplier effect and productive activities,” he said.

Olubiyo said the issue of multiple taxation if not properly addressed would lead to the country losing the required competition, especially in the power sector.

According to him, most of the businesses that are supposed to be in Nigeria will be diverted to other West African countries.

Also speaking on the poor state of electricity, Olubiyo said government should henceforth ensure that Electricity Distribution Companies (DisCOS) should not be placed in the hands of individuals’ control.

“Most DisCos belong to two or three people, they should be properly restructured and listed on the stock exchange for public equity.”

He said by so doing, the issue of good governance, discipline and corruption would be checked. (NAN) 

F.A

June 10, 2024

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