Nigeria considering granting tax relief to manufacturers generating power – Jamodu

The Federal Government is considering granting tax relief to manufacturers, who are generating their own power for production and other uses. Chief Kola Jamodu, the President of the Manufacturers Association of Nigeria (MAN), disclosed this after a meeting of the Economic Management Team (EMT) presided over by President Goodluck Jonathan at the State House.
Jamodu, who addressed State House correspondents after the meeting, which lasted for about eight hours, said the decision was sequel to a presentation made by MAN to the Team. He said his Association acknowledged the improvement in power supply but underscored the need to encourage manufacturers “who have invested so much in power generation’’. Truly, the power situation is improving and manufacturers are benefiting from it.
“As for our members, who are still producing their own power, the Federal Government has agreed to give them tax relief to cushion the effects of the power situation, which is not perfect yet,” he said.
Jamodu hailed Federal Government decision to engage his association in the effort to revive the country’s industries. He said that the 15-page document submitted by MAN to government would go a long way in solving the problems industrialists were facing in the country. “A good number of our recommendations are being executed by the government and we are impressed with this. It gives us a lot of hope that the future is bright,” he said. The Minister of Trade and Investment, Dr Olusegun Aganga, said the meeting was about productivity, its barriers, what government needs to do and areas in which government is doing extremely well.”
“It is an opportunity for us to hear from the industrialists what the issues are and for them to also understand what government is doing to address those issues,” Gov. Peter Obi of Anambra underscored the need for Nigerians to patronise Made-in-Nigeria products.