Business
Sack Power minister now, tax expert tells Tinubu
BY EMEKA EJERE
Convener of Blakey’s National Conference, Chief Okwudili Ijezie, has called on President Bola Tinubu, to relieve the Minister of Power, Chief Adebayo Adelabu,, of his appointment without further delay, stressing that the minister lacks the requisite expertise to oversee such a critical sector efficiently.
Ijezie, an ardent advocate of President Tinubu’s Tax Reform Bills, was delivering a keynote address titled, “The Way Forward,’’ at the eighth edition/grand finale of the bi-monthly pro bono Blakey’s National Conference with the theme “Unlock the Benefits of the New Tax Regime in Nigeria,” held in Lagos on Thursday.
Nigeria’s national electricity grid suffered another collapse on Wednesday, throwing the country into darkness, the 12th time since the beginning of this year.
The grid collapse occurred on same day the minister assured Nigerians that the country’s power grid would achieve significant stability with the completion of phase one of the Presidential Power Initiative (PPI), also known as the Siemens project.
Ijezie argued that to encourage Nigerians to pay their taxes voluntarily, government should put the right people in the right positions so as to give the taxpayer value for their money, through provision of quality public goods and services.
According to him, enhancing power supply is critical to widening the tax base, as it will bring more people into profitable economic activities.
Apparently irked by the situation, Ijezie wondered what an accountant will be doing as minister of Power when Prof Barth Nnaji, founder of Geometric Power, is still alive and healthy.
“I am calling on President Tinubu to sack the Power minister immediately”, Ijezie fumed.
“What does an accountant know about power?
“Why can’t the President go and bring Prof Nnaji, let another person be managing his (Nnaji’s) Aba Plant (Geometric) for him?”
He, however, commended the President for the choice of Mr. Taiwo Oyedele, as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, describing Oyedele as a round peg in a round hole.
Ijezie was optimistic that with Oyedele leading the implementation of the reforms, Nigeria’s target of 18 percent tax-GDP from the current 10.5 percent in the next three years is achievable.
He urged the National Assembly to defer the planned increase in value added tax (VAT), from the present 7.5 percent to 10 percent till 2026, saying doing so now will worsen the plight of ordinary Nigerians.
The conference witnessed robust discussions on tax reforms, economic growth, and national development.
Speakers were in agreement that passing the Tax Reform Bills into law was the way to go, but cautioned against any step capable of jeopardising proper implementation of the recommendations.
More detailed report on the conference to come later…