*Ask govt to tackle multiple taxation
By; BAYO AKAMO, Ibadan
Chief Executive Officer of Bullion Go-Neat Global Limited, Ambassador Olufemi Ajadi Oguntoyinbo has charged the Nigerian government to tackle the problem of multiple taxation facing manufacturers in the country.
Speaking at the 38th Annual General Meeting (AGM) of the Ogun State branch of the Manufacturers Association of Nigeria (MAN), he said development of manufacturing industry, is the key to economic growth of any nation.
He emphasized that there is the need for governments both at the federal and state levels to look into the issue as the challenges of multiple taxation by different government have resulted in high cost of production as well as making things difficult for operators.
Represented by the General Manager of Bullion Go-Neat Global Limited, Mr Samuel Oluseyi Oguntade, Ambassador Ajadi listed other challenges as the difficulty in accessing foreign exchange as well as harassment by touts purporting to represent local government councils submitting that these were making it difficult for manufacturers to operate.
According to Ambassador Ajadi, it is time for the concerned authorities to address the issue in the interest of growth in the economy, he tasked manufacturing industry to generates employment opportunities, enhances productivity, and boost government revenue through taxation.
He pointed out that the fact remains that manufacturing industry heavily depends on foreign exchange for sourcing raw materials and that this has made it difficult for it to achieve its needed contribution to Nigeria’s Gross Domestic Product (GDP).
Emphasizing that multiple taxes and the menace of road touts, also hinder the growth of manufacturing sector, he expressed concern that vehicles transporting goods and personnel for manufacturers faced harassment from various entities demanding undisclosed taxes and levies.
Ambassador Ajadi however, tasked government and the Joint Tax Board, Ajadi to intervene with actionable resolutions to curtail these illegal road taxes and foster a more conducive environment for the manufacturing industry to thrive.
He noted that the collectors of these taxes and levies often claim to represent local government authorities, adding that these touts resorted to violence when drivers resisted, resulting in damage to both individuals and vehicles.
Ambassador Ajadi maintained that government and the Joint Tax Board intervention should be an actionable resolutions to curtail these illegal road taxes and foster a more conducive environment for the manufacturing industry to thrive.
