In the last election, Ambassador Olufemi Ajadi Oguntoyinbo has attributed difficulty in setting up companies in Nigeria and how they fold up easily to the huge tax being demanded by the government and the absence of basic amenities needed to function successfully.
Oguntoyinbo stated this during an interactive session with the League of Yoruba Media Practitioners (LYMP), held in his office at Ibafo, Ogun state on Thursday.
The young business man made it known that formation industries in Nigeria can not really be easy, owing to the fact that money invested in businesses are not recovered. This is as a result of huge tax the government demand from entrepreneurs, even as they (government) fail to provide essential amenities like electricity, good road, conducive working environment, among others.
The one time guber aspirant who hinted that he will vie for the post of the president of Nigeria 2027, said that, "If a manufacturer comes from abroad, investing his money in this kind of our economy, it is certain it will fold up in no time.
‘’That it is why you see companies that started with huge sum of money folding up within 2 to 3 years, because they lack amenities they ought to get from the government, yet, they still have to pay huge tax.
‘’It’s been three years I used light from NEPA, I had to tell them to remove their cables and let me face elsewhere for electricity generation, since they have not been giving me. I don’t benefit anything from the government, I provide my electricity myself, yet, I still pay tax. So, what is the government doing for us?
‘’In other countries abroad, everything has been standardized, no one asks for electricity before it is provided. These things are obstacles for people who wants to establish companies in Nigeria." He said.
Calling on President Bola Tinubu to not only allow states to generate their electricity, Oguntoyinbo said that it should be followed up by making sure power generation is not limited.
He adding that it should become competitive just as the telecommunication companies are in Nigeria now. This will give room for healthy rivalry to the advantage of the citizenry and company owners, Oguntoyinbo opined.
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