According to Yakubu Dogara, the former Speaker of the House of Representatives, Nigeria has lost a great deal of foreign investment over the years because of its numerous and antiquated taxes, which have made prospective investors reluctant to establish their companies there.
Dogara opined that new tax legislation in Nigeria is long overdue in order to support domestic companies.
He made this statement on Thursday in Kaduna during a town hall gathering for Christian leaders to discuss and decide on the proposed tax reform measures that President Bola Tinubu had forwarded to the National Assembly.
According to Dogara, new tax legislation in Nigeria is long overdue in order to support domestic companies.
He remained in favour of the plan, pointing out that the current tax structure has cost the nation a lot of foreign investment.
The former Speaker further emphasized that neither the tax code nor outside forces can be held responsible for the social and economic difficulties facing the North.
The town hall meeting, which had as its theme “Church and Society: Tax Reform and Matters Arising,” was attended by Christian leaders from across the North, including bishops, pastors, and other clergy, as well as Mr. Sunday Dare, who was represented by a former Deputy Governor of Kogi State, Simon Achuba, among others.
