By CHARLES ONYEKWERE
A chieftain of the All Progressives Congress ,APC, Chief Hyacinth Ngwu, has urged Nigerians to support the passage of the tax reform bills, to strengthen the country’s economic recovery and growth.
Ngwu, a former South-East Publicity Secretary of the APC, told newsmen yesterday in Enugu, that the legislation is a major solution to solving the economic issues of the country.
According to Ngwu, the steady growth in Nigeria’s Gross Domestic Product ,GDP, as announced by National Bureau of Statistics ,NBS, will be sustained, and made more robust when the real sector of the economy is reactivated through the bills.
“This can be achieved with the streamlining of the tax system which the tax reform bills, currently before the National Assembly are meant to achieve when passed, and assented to by President Bola Tinubu.
“It has been empirically proven beyond all reasonable doubts, that multiple taxation is a bane to real sector growth, particularly to Small and Medium Enterprises ,SMEs.
“It is our hope that the tax holidays envisaged in the tax reform bills will boost robust growth in SMEs, and this will translate to further increases in the GDP and GDP per capita “, he said.
The APC chieftain also said that other secures of the economy, is the level of insecurity that is hampering food production, as well as dilapidated rural roads.
“I must commend the presidential team on the good work they are bringing to bear on inter-state roads, and stable electricity.
“I also appreciate and commend President Tinubu for initiating, and pushing ahead with the tax reform bills as a visionary, and progressive leader”, he added.
