The Centre for the Promotion of Private Enterprise, CPPE, has said President Bola Ahmed Tinubu’s suspension of arbitrary taxes signals a commitment to creating an enabling environment for businesses.
Muda Yusuf, the Director of CPPE, disclosed this on Thursday in his reaction to Tinubu’s postponement of the implementation of the 2023 Finance Act and removal of the 5 per cent telecoms, vehicle imports and other taxes.
Yusuf, the former Director General of Lagos Chambers of Commerce and Industry, LCCI, lauded Tinubu because he is sensitive to investor, manufacturer, and citizen concerns.
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“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 said.
“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 four executive orders to remove arbitrary taxes and postpone the 2023 Finance Act to September 1.
(Daily Post)
