The Centre for the Promotion of Private Enterprise, CPPE, has mentioned President Bola Ahmed Tinubu’s suspension of arbitrary taxes signals a commitment to creating an enabling environment for companies.
Muda Yusuf, the Director of CPPE, disclosed this on Thursday in his response to Tinubu’s postponement of the implementation of the 2023 Finance Act and removing of the 5 per cent telecoms, automobile imports and different taxes.
Yusuf, the previous Director General of Lagos Chambers of Commerce and Industry, LCCI, lauded Tinubu as a result of he’s delicate to investor, producer, and citizen issues.
“As you know, the economy is getting overheated due to inflationary pressure, and the removal of fuel subsidies has further compounded this.
“So, what the President has done is to slow down on some of those additional policies that can put additional pressure on the citizens,” Muda Yusuf mentioned.
“We need to see some additional measures in all those directions too, but generally, it is a welcome development, it’s good for the industry, it’s good also for signalling to the citizens that the President with the administration is sensitive to the plight of the citizens whether corporate or individuals.
“The issue now is not even about GDP; the issue now is about the business environment, investments, and the welfare of the people. That is what is most Paramount, not GDP”, he added.
Tinubu had signed 4 govt orders to take away arbitrary taxes and postpone the 2023 Finance Act to September 1.
