Group kicks against tax holidays for power operators

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The Tax Justice and Governance Platform, TJ&GP, has kicked against government moves to grant further tax holiday to power investors, saying it was a shortchange for both government and the public.

It instead urged federal government to declare a state of emergency in the power sector and prioritize investment in power.

“The proposed tax holiday is not targeted at making electricity available for Nigerians but to serve the purpose of the elites who are benefiting from the charade, called privatisation of the power sector,” the platform’s steering committee said in a statement.

It said the power sector has degenerated to even more deplorable state than before it was privatized, with investors increasing tariffs severally, charging Nigerians for darkness and denying government revenue under cover of tax holiday.

The platform said further tax holiday incentive was alarming, considering investors never proved their technical and financial capacity for participating in the sector since government had to extend them financial assistance to aid their bidding for blocks.

In the statement sent to Daily Trust the platform urged a stop to further granting of incentives, tax holidays or waivers to operators in the power sector.

“The entire privatization process should be reviewed and evaluated, both the technical and financial capacities of the operators,” it noted.

The statement was signed by Harry Udoh, from TJ&GP in Akwa Ibom, Chibundu Uchegbu for the Imo state TJ&GP and James Eustace for the Nigerian Labour Congress.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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