Speaker of the House of Representatives, Yakubu Dogara, said investigation into tax incentives/waivers granted multi-national corporations is aimed at ensuring that Nigeria is not short-changed from the benefits of Foreign Direct Investments (FDIs).

Dogara dropped the hint at the opening of an investigative hearing by the House Joint Committee on Finance and Public Accounts.

He said the exercise would prevent revenue leakages from taxes and enhance employment opportunities.

“The overall aim of this investigation is to address anomalies that may impede the operations of foreign direct investments. We lawmakers are desirous of seeing a new vista of competitive, transparent and efficient FDIs to boost technology, skills and expertise, which have spurred growth in Japan, China, South Korea and others,” he said.

Chairman of the committee, Babangida Ibrahim (APC, Katsina), expressed disappointment at the attitude of the invited Ministries, Departments and Agencies (MDAs), which he said were in the habit of sending junior officers to represent them at investigative hearing.

He therefore declined to admit the representatives of the Nigerian Customs Service (NCS), the Federal Inland Revenue Service (FIRS) and the Ministry of Finance, and ordered heads of the concerned agencies or their management officials to be present in a yet to be announced date for continuation of the hearing.

https://www.torimill.co/news/8935/dogara-probe-on-tax-waivers-in-nigerias-interest.html

Lalasticlala Mynd44 Dominique

Dogara is right.