From Uche Usim and Esther Akwete, Abuja
President Muhammadu Buhari, has asked offshore and local investors to look beyond the current challenges plaguing the country to invest massively in it as the gains of doing so far outweighs the pains.
Buhari gave the advise in Abuja on Monday, at the 42nd Technical Conference of the Commonwealth Association of Tax Administrators (CATA).
The President, who was represented by the Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, described Nigeria as investors’ haven as it holds a litany of opportunities with high returns on investment.
He explained that his administration has marshalled out potent strategies, systems and procedures to drive investments and guarantee investors fertile grounds to plough in their resources.
“The implementation of our ease of doing business programmes monitors all indices of doing businesses in Nigeria with a view of removing frauds that are potentially employed in the way of economic progress.
“Come and do business in Nigeria and I am sure you that those who have already acquainted themselves with identified challenges will testify that the benefits outweigh the challenges.
“It is no longer news that rapid advancement in science and technology have led to the evolution of communication channels that have reduced distinct barriers in trade to the barest minimum”.
President Buhari noted that the digitalization of businesses has increased purchasing power and ensured that remote access to goods and services has grown.
“The challenge is for tax administrators now to seize the moment and ensure that the opportunities presented by technology will not serve as a basis for loss of revenue due to our inability to keep up with the gaps”, he added.
In her remarks at the event, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said Nigeria has always championed the global efforts at finding equitable and lasting solutions to international tax issues which included the long-standing issue of imbalance in the allocation of taxing rights between source and resident jurisdictions.
