SPECIAL REPORT: Jigawa villagers link declining farming output, urban drift to abandonment of damSPECIAL REPORT: Katsina farmers lament impact of climate changeAgenda for the new NBA president, By Gbemiga OgunleyeSPECIAL REPORT: Jigawa villagers link declining farming output, urban drift to abandonment of damSPECIAL REPORT: Katsina farmers lament impact of climate changeAgenda for the new NBA president, By Gbemiga Ogunleye has said all manufacturing companies in the country lost about N1.
“It concerns the government because by our law, we will not be able to collect any taxes from them until they recover all those losses, till next 10 years, five years. Even when they make a profit next year, they will tell you they have losses they are carrying forward,” he said. Among the manufacturing companies that have discontinued operations in Nigeria are GlaxoSmithKline , Procter & Gamble , Sanofi, a French multinational pharmaceutical company and Equinor, a Norwegian oil firm.PREMIUM TIMES delivers fact-based journalism for Nigerians, by Nigerians — and our community of supporters, the readers who donate, make our work possible. Help us bring you and millions of others in-depth, meticulously researched news and information.
“When you talk about the real feature of taxes, does it help in standby? Yes. It is when we don’t do it that people think as a country we don’t know what we are doing. If that is not done, that is when the real investor will run away from Nigeria because this is a way to balance the economy indices and this is what shows that we actually know what we are doing, and we have a plan for where we are going.