Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,201,045 members, 7,976,985 topics. Date: Wednesday, 16 October 2024 at 04:53 PM |
Nairaland Forum / Nairaland / General / Business / FEC Approves Tax Incentives For Dangote (44309 Views)
FEC Approves Executive Orders On VAT And Excise Duties / Access Bank Approves Paternity Leave For Male Employees / Gigantic Equipment Being Brought In For Dangote's Refinery In Lagos (Photos) (2) (3) (4)
(1) (2) (3) (4) (5) (Reply) (Go Down)
FEC Approves Tax Incentives For Dangote by olokfor: 2:20pm On May 18, 2016 |
The Federal Executive Council today approved tax incentives for Dangote Group which is owned by Africa's richest man, Aliko Dangote. The new move was announced by Babatunde Fashola after the meeting. See tweet from Aso rock official handle announcing the incentive: [img]http://www.nigerianbulletin.com/attachments/dango-png.81576/[/img] The Federal Executive Council (FEC) on Wednesday approved the proposal for business mogul, Aliko Dangote, to construct Lokoja-Obajana-Ilorin Road. http://thenationonlineng.net/fec-okays-dangote-lokoja-ilorin-road-construction/ 23 Likes 5 Shares
|
Re: FEC Approves Tax Incentives For Dangote by nickxtra(m): 2:25pm On May 18, 2016 |
I think this is good. We can then focus and channel the money to other roads 33 Likes |
Re: FEC Approves Tax Incentives For Dangote by Nobody: 2:26pm On May 18, 2016 |
Amazing decision See attached map, the distance is 43KM 29 Likes
|
Re: FEC Approves Tax Incentives For Dangote by modath(f): 2:27pm On May 18, 2016 |
Aliko Dangote is the luckiest human being alive!!! Very soon he will be handed Nigeria to "manage" Got Tax incentive to build the road that services his business, a road that was primarily damaged by his heavy duty trucks!! *modified* This is an improvement on the 1% tax he used to pay in the past... http://nairametrics.com/and-heres-a-recap-of-this-weeks-trending-stories/ 278 Likes 12 Shares |
Re: FEC Approves Tax Incentives For Dangote by Mynd44: 2:27pm On May 18, 2016 |
All hail Alhaji Putin. 4 Likes |
Re: FEC Approves Tax Incentives For Dangote by OlujobaSamuel: 2:33pm On May 18, 2016 |
modath:are you sure that road was ever in good condition? I'm aware of ayetoro-ibeshe-ilaro, he reconstructed the road without input from the government. 32 Likes 2 Shares |
Re: FEC Approves Tax Incentives For Dangote by modath(f): 2:36pm On May 18, 2016 |
OlujobaSamuel: Do you honestly believe any road exists that wasn't "ever in good condition"? The road was in a good shape even while the factory was being constructed,soon as he finished and those heavy trucks became a permanent fixture on that road, gbege happened.... I'm talking 07-11 or thereabout... 47 Likes 1 Share |
Re: FEC Approves Tax Incentives For Dangote by Mynd44: 2:38pm On May 18, 2016 |
modath:Actually, this has legal backing so it is not only about Alhaji Putin. Personally, I prefer coporations do this to paying taxes 23 Likes
|
Re: FEC Approves Tax Incentives For Dangote by modath(f): 3:04pm On May 18, 2016 |
Mynd44: God knows I don't have anything against his person or business ventures but how he gets "lucky" with every successive government is a source of mystery!! He should have fixed that road long before now!! That road shaved off more than 90mins of travel time between Abj and the SW... Its state of disrepair contributed to the death trap and vehicle damaging expanse of okene-lokoja!! That road is real inilara and afonilori... Anyway Alhaji Putin will always be Alhaji Putin sha... 20 Likes 1 Share |
Re: FEC Approves Tax Incentives For Dangote by Stalwert: 3:16pm On May 18, 2016 |
modath: If my memory serves me right that road has long been in a bad state. Though his trucks eventually murdered it beyond repair. I wonder does he even pay anything for using the mineral resources?He seems more interested in being world richest than doing more to developed our country. 12 Likes 2 Shares |
Re: FEC Approves Tax Incentives For Dangote by Stalwert: 3:17pm On May 18, 2016 |
modath: true talk 2 Likes 1 Share |
Re: FEC Approves Tax Incentives For Dangote by OlujobaSamuel: 3:19pm On May 18, 2016 |
modath:honestly, I don't know about the road, just speaking in comparison with the one at ibeshe, the road na eyesore before he established his factory there, but he reconstructed it. 3 Likes |
Re: FEC Approves Tax Incentives For Dangote by GenOrumov: 3:21pm On May 18, 2016 |
modath:Why do the government's duty if it won't give you anything in return? He's a smart businessman. Nothing goes for nothing! 5 Likes |
Re: FEC Approves Tax Incentives For Dangote by OlujobaSamuel: 3:24pm On May 18, 2016 |
Mynd44:@your attached image, I think big corporations should tap into that, there will be ease of life and business in almost every state of the federation, but some will still prefer the tax route because they know they can evade tax at will without much effort from the government to force them to pay. 8 Likes |
Re: FEC Approves Tax Incentives For Dangote by modath(f): 3:33pm On May 18, 2016 |
Stalwert: Nope! The road may not have been the best thing after sliced bread but it was motorable, you could do 100 without fear then... The road didn't become craters till trailers carrying 600-900 bags of cement became a permanent fixture... GenOrumov: I beg to differ, Nigeria is a peculiar place, he gets "breaks" and "favours" that other business people in other climes don't or will never ever get so "more" is expected! Moreover, his business spoilt the road nah & make a nor lie, bad belle join... just make person travel time increase for nothing! 6 Likes |
Re: FEC Approves Tax Incentives For Dangote by GenOrumov: 3:46pm On May 18, 2016 |
modath:I understand how you feel @ the bolded. I even fear that with the way he's going, he may end up owning Nigeria reason being that he has a huge share of vital sectors of our economy (food, cement then the most important which is OIL ). But I must admit, he's really a smart businessman. 3 Likes |
Re: FEC Approves Tax Incentives For Dangote by Lusola15: 3:48pm On May 18, 2016 |
If you hear SELL IT and you think is OLX Who gives me tax incentives for generating my own light, water and fixing the road in front of my house Naija 21 Likes 5 Shares |
Re: FEC Approves Tax Incentives For Dangote by ckmayoca: 3:54pm On May 18, 2016 |
Good move but same idea shld be applied to some other places this this. |
Re: FEC Approves Tax Incentives For Dangote by DropShot: 5:08pm On May 18, 2016 |
I think this is wrong. We need full details to be able to determine if this is good for us or not. 1. Is the 30% concession tax for the entire Dangote Grp or for just the cement factory in Lokoja? 2. For how many years will Dangote hold back the 30% tax? 3. By when must the project be completed and handed over? 4. Is there a minmum quality standard specified for the construction work? 5. Will the FG supervise the work to ensure standards are met? 6. Has a cost estimate for the project been done and compared to the 30% concession tax. That way, we will know how much we lose or gain by this arrangement. Without answers to these questions, I say it's not a good strategy. 95 Likes 10 Shares |
Re: FEC Approves Tax Incentives For Dangote by omenka(m): 5:18pm On May 18, 2016 |
Great business decision by both parties I must say. Tax rebate in return for provision of infrastructure by a party that stands to benefit the most from the project. Very sure he'd make a fantastic job of it, because anything short of that would result in him incurring heavy losses on repairs and maintenance of his fleet of trucks. We would like the government to provide a bit more details regarding the deal, just as they laid the budget bare for all to see. 3 Likes |
Re: FEC Approves Tax Incentives For Dangote by omenka(m): 5:24pm On May 18, 2016 |
nickxtra:Exactly. |
Re: FEC Approves Tax Incentives For Dangote by segalex: 5:25pm On May 18, 2016 |
I feel it's a good decision on the part of the government, because this guy has always tax waiver in the past without doing anything and he will continue to get tax waiver as far as Nigeria is concerned, so instead of him getting something for nothing, it's better this way at least he's giving something back to the society 2 Likes |
Re: FEC Approves Tax Incentives For Dangote by drss(m): 5:29pm On May 18, 2016 |
govt of a.bo.ki to a.bo.ki n for a.bok.i 8 Likes 1 Share |
Re: FEC Approves Tax Incentives For Dangote by greatiyk4u(m): 6:07pm On May 18, 2016 |
omenka: Intelligent input u gat there! Keep it up! 2 Likes |
Re: FEC Approves Tax Incentives For Dangote by BIGERBOY1: 6:08pm On May 18, 2016 |
Ok |
Re: FEC Approves Tax Incentives For Dangote by Hengineer: 6:27pm On May 18, 2016 |
This is a good deal in my honest opinion. If the monex for tax is paid to the FG, only God knows if the money wouldn't be used to fund some silly recurrent expenditures, e.g. Aso Rock feeding. Dangote building the road would benefit much more people than whatever the FG can do if it receives that tax money. I suppose Fashola is a smart man, he would certainly advertise and exploit tax incentive policies like this to skillfully maximise allocations to his ministry indirectly by reducing the FG's road burden. 4 Likes |
Re: FEC Approves Tax Incentives For Dangote by NOETHNICITY(m): 6:49pm On May 18, 2016 |
I am 100% sure that this govt will get it right! 5 Likes |
Re: FEC Approves Tax Incentives For Dangote by TonyeBarcanista(m): 6:55pm On May 18, 2016 |
Na wa o. Which kind country be this? For How long will he withhold the 30% tax? Is it eternal? When will he complete the road? May we see the specification? This looks fishy! BTW: Dangote is the real AGIP 10 Likes 1 Share |
Re: FEC Approves Tax Incentives For Dangote by NOETHNICITY(m): 6:56pm On May 18, 2016 |
DropShot:The govt will definitely take all the above points into consideration! 2 Likes |
Re: FEC Approves Tax Incentives For Dangote by DropShot: 7:00pm On May 18, 2016 |
NOETHNICITY:But we deserve to know those details. Only then we can hail the decision or condemn it. 10 Likes 2 Shares |
Re: FEC Approves Tax Incentives For Dangote by NOETHNICITY(m): 7:24pm On May 18, 2016 |
Stalwert:Nigerians loving awoof since 1914! 1 Like 2 Shares |
Re: FEC Approves Tax Incentives For Dangote by talk4free: 7:33pm On May 18, 2016 |
So I guess we can all request for tax breaks for all the street roads that lead to our houses that we have fixed. The law says any individual (you and I) and says any publicly owned (other people use the road too). Hence we are entitled to tax breaks as well. Heck it also includes buying of electric poles and transformers for our area. Hope we can hold Mr Fashola to this. Naija, lets wise up. If its good for Dangote, it's good for us too in our own little ways. 35 Likes 6 Shares |
CBN May Legalise Use Of Bitcoin / Sijibomi Ogundele Of Sujimotos To Give N5 Million For A Picture With MKO Abiola / How To Handle Money Transferred To Wrong Account number Case (worth Sharing)
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 63 |