- Tinubu says improving tax laws and electricity will ensure that businesses are competitive and attract investment.
- The Siemens Energy project will accelerate the delivery of power projects to deliver reliable electricity to homes and businesses.
President Bola Tinubu, in his New Year’s speech, said Nigeria will simplify its tax laws and improve its electricity supply this year. According to him, this is to ensure that businesses are competitive and attract investment. Furthermore, he stated that a deal signed with Siemens Energy in December 2023 will facilitate the delivery of power projects that will deliver reliable electricity to homes and businesses.
In 2019, the federal government of Nigeria contracted Siemens Energy to rehabilitate and expand its electricity grid by 2025. Tinubu noted, “Fiscal and tax policies will be codified and simplified to ensure the business environment does not destroy value, and obstacles that impede competitiveness will be addressed.”
“I will not hesitate to remove any clog hindering our path to making Nigeria a destination of choice for local and foreign investments. My administration recognises that no meaningful economic transformation can happen without a steady electricity supply,” he added.