Tinubu To Scrap Multiple Taxes, Hints Of Rail, Housing, Aviation Expansion
The Presidential Candidate of the All Progressives Congress, Asiwaju Bola Ahmed Tinubu, has promised to scrap multiple taxations and hinted of rail and aviation expansions.
Tinubu made the declaration at a stakeholders’ consultation session with the Federation of Construction Industry in Nigeria, FOCI, the umbrella body of construction companies in the country in Abuja.
The APC presidential candidate disclosed that if elected president next month, he would separate fiscal from monetary policies and end the multiplicity of taxes in the country to give Nigerians and a new lease of life and encourage them to pay reasonable taxes for development.
According to him, “Taxes should not become a burden to either the citizen or the corporate organization doing business in the country”.
He also said that his administration would surmount the security challenges confronting the country by taking appropriate measures to defend secure all parts of Nigeria, if elected next month.
Tinubu said that the current administration’s reenergized approach to the Reviewed National Integrated Infrastructure Masterplan has automatically committed his the incoming administration under him to invest massively in infrastructure and by so doing, add value to the national economy while enhancing private sector participation in infrastructure development in the country.
He said that from the outset of the campaign, he had declared his commitment to furthering the developmental feats achieved by the administration of President Muhammadu Buhari.
Tinubu said: “I will do everything possible to stabilize Nigeria’s security by adopting appropriate strategy to ensure that every inch of the country is adequately protected and secured.
“Security will be our number one priority and we will employ all means available including appropriate technology to ensure that nobody in the country is threatened by any form of insecurity,” the APC flagbearer stated.
He also promised to look into the possibility of floating a construction bank to make sustained credit available for the construction industry and increase infrastructure stock in the country.
The APC leader said, “God willing, as we assume the mantle of leadership, we shall build an even more prosperous economy. This means additional investment in relevant infrastructure: Roads, Bridges, Rail, Airports, Schools, Power facilities, Hospitals and more. These will enhance efficiency, support industrial growth, spur trade and investment, and improve the Ease of Doing Business.
“My commitment to increase annual Gross Domestic Product (GDP) growth will heavily depend on the quality of the infrastructure we shall build to facilitate and sustain growth in all facets of our national life.
“Here, I make a plain and clear promise: I will be your partner in building this life-defining infrastructure so essential to creating the nation of our dreams. The framework on Infrastructure in our Renewed Hope action plan encapsulates, among others, the renewal and expansion of the existing stock of our national infrastructure. This means sound transport networks across the country, modern ports and reduced transportation costs for Nigerians.
“We plan to build high-capacity telecommunications networks to facilitate faster communication across a wider expanse of the national territory.
“Building on the accomplishments of the current Government, my administration will invest heavily in road transport which accounts for the lion’s share of passenger and cargo movement across the country. In 2021 alone, road transportation accounted for roughly 90 percent of all transportation activities in the country.
Overall, the transportation sector is valued at N37 trillion. Transport activities contributed 1.84% to real GDP in Q2 2022. Sustaining the political will and technical capacity to move people and goods in a safe, affordable and accessible manner will create a better future for Nigerians.
“We will, therefore, work hard to improve our various transportation systems and, in the process, unlock the value chain of opportunities therein.
“The Government that I hope to lead shall focus on policies and interventions in all the key methods of transportation: road, rail, maritime and air.
“Concerning roads, we shall continue the rehabilitation and expansion of existing federal roads and expressways. We shall accelerate construction of new roads as well as the rehabilitation of existing ones through already established funding mechanisms, including accessing capital markets.
“I must, at this juncture, commend the Muhammadu Buhari administration for its commitment in this direction. The administration has worked with singular purpose to expand and increase the stock of road and bridge infrastructure of our country. We intend to follow this exemplary path.
“In doing so, I acknowledge the progress of the Ministry of Works and Housing under its indefatigable Minister Mr. Babatunde Fashola, in establishing the Highway Development and Management Initiative (HDMI). It will be our springboard to achieving the envisaged nationwide highway system. Advancements made in executing these projects elevates the APC Government, ably led by President Muhammadu Buhari, head and shoulder above its predecessors.
“My government will enhance the use of our railways to reduce the cost of moving goods and services across the nation. We will sustain the investments already made by the Buhari administration and deepen ongoing reforms in the sector. Apart from its cost-effectiveness, enhanced rail use will reduce strain and congestion on our roads and expressways thereby significantly lowering the number of vehicular accidents. My administration will also encourage State Governments to build public transportation or metro systems in their capital cities.
“The metros will link with existing national rail lines and revolutionize urban transport in Nigeria. This will boost commerce and contribute significantly to GDP growth.
To achieve these objectives, which include promoting greater private sector inclusion, we shall work with the National Assembly to review the organization, structure and operations of the Nigerian Railway Corporation. We shall also prioritize the completion of critical ongoing national railway projects such as: Lagos – Kano; Benin – Abakaliki; Port Harcourt – Maiduguri; Lagos – Calabar; and Kano – Maradi. In addition, we shall deploy technology and security assets to protect travelers and ensure the safety and integrity of our railway infrastructure.
Earlier, the President of the Federation of Construction Industry, High Chief Vincent Barrah, in an address, had said that the body which was founded in 1954 and remains the largest employer of labour after the government, had praised the government for continuing with the infrastructure projects it inherited from the previous administrations and for settling liability of members.
High Barrah said however that though the federation does not endorse of support political parties, the members were committed to interacting with various political parties to discuss ways to ensure the survival and continuity of their business for the good of the Nigerian people.