I Will Cut Industrial Taxes To Allow For Industrial And Economic Growth

by James

The economic growth of a nation depends on the growth of the industrial sector.

If the industrial sector, the manufacturing sector, or the real sector fluorishes, jobs will abound and poverty will diminish.

So, my priority as president of the federation will be to focus on industrial growth by heavily supporting the industrial sector.

My approach will be in two fold:

1. I will cut taxes for companies who choose to establish their manufacturing facilities in Nigeria.

Companies who set up their manufacturing facilities in Nigeria will enjoy tax free operation for 5yrs

2. If these companies choose to establish in remote areas - for example, areas outside Lagos - they will enjoy tax free operations for 10 yrs.

The purpose of this measure is to ensure decentralization of industries. That is, all of the industries should not be located in Lagos thereby resulting in congestion.

Decentralizing the industries will spread economic growth to remote areas of Nigeria thereby resulting in near-uniform growth of the economy.

People won't have to abandon their villages anymore since many companies will choose to site their manufacturing facilities in remote villages where they have access to cheap labour and heavy tax relief.