Atiku Abubakar, presidential candidate of the Peoples
Democratic Party (PDP), says if elected, he will grant tax holidays to the
private sector to enable them to intervene in infrastructure development.
The former vice-president spoke on Wednesday at an
interactive session with members of the Nigerian Guild of Editors, in Lagos.
A tax holiday, also known as tax relief or tax subsidy, is a
temporary reduction or removal of tax. Governments usually create tax holidays
as incentives for business investment.
Abubakar said this will create more jobs and encourage more
investments in the country.
The PDP candidate also said he will ensure that the
necessary constitutional amendments are made so that more powers are
transferred to state and local governments.
“Let me, therefore, use the opportunity of this gathering
today with the gatekeepers of the Nigerian media to say that my restructuring
agenda is intact and it will be implemented from my first day in office,” he
said.
“Already, I have received a report from a team of
constitutional law experts which I assembled to look into our constitution and
highlight areas where there are items that can be moved to the concurrent and
residual lists of the constitution.
“Let me tell you that
I will start work on the implementation of that report from my very first day
in office if I am elected president next year.
“The private sector is pivotal to my agenda to rejuvenate
the economy and close our infrastructure deficit gaps. If I am elected
president, I will work closely with the private sector by giving them
incentives to create more jobs, and also grant them tax holidays for them to
intervene in our infrastructure development.
“It is obvious to all that the government doesn’t have all
the money and the debt burden has continued to weigh us down. Therefore, the
government has to be creative, and engaging the private sector is one way of
solving our infrastructure problems sustainably.
“If you look at the thriving economy in the world, they
allow the private sector to run the economy. If you see the amount of work the
government has to do in terms of constructing and decongesting our ports, and
railway, and you have to borrow, I will rather concession most of these
projects to the private sector and give them tax incentives. This will bring
progress, prosperity, and peace.”
While promising to set up a “government of national unity”
if elected, Abubakar added that he will consider the six geo-political zones
when appointing people into his cabinet.
“It is one of the ways to unite this country. Every section
or geo-political zone will be carried along in appointments in every sector,”
he said.
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