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Stats: 1,335 members, 11,704 Topics. Date: August 21, 2019, 9:19 pm

Stop Using Heavy Tax To Scare Investors – Otti Tells South East Governors

BiafraSay Forum | BiafraSay General | Investment | Stop Using Heavy Tax To Scare Investors – Otti Tells South East Governors (187 Views)

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The former Group Managing Director of Diamond Bank Plc, Dr Alex Otti, has called on governors of the South East states to refrain from using contractors in their revenue drive.
Speaking on Wednesday at the ongoing Enugu State Investment Summit, Otti said that the time was rife for the chief executives of the states to harmonise their tax regimes to attract investors.

The former governorship candidate in Abia who spoke on South East Economic Integration with the theme: “Finance Opportunities for Regional Integration,” said that businesses in the area had suffered setbacks.

“Most states contract out their revenue drive thereby using tax to torment people. In most cases, investors are scared.

“They may think that they are generating revenue for their states without knowing that they are scaring investors away,” he said.

Otti said that the state governments needed to create the enabling environment for businesses to thrive.

He said that the time had come for the state governors to work together to develop the region as an economic hub.

“The situation in the South East needs thinking outside the box if only our governors will realise this.

“Our leaders should get out of the negative mindset, share services together and pay more attention to agriculture,” he said.

He said that Enugu and Anambra states had shown commitments in transforming their states through quality leadership.

“I am not too sure all the states in the zone boast of the type of leadership Enugu has had.

“The truth is that it is because of my realistic stand that I had to give up the job that I was doing to see how I could contribute my own quota to salvage my state.

“This is not a political forum, but if you visit my state you will not be happy if you relate it to what is happening in Anambra and Enugu states,” he said.

Otti said that what the zone needed was pragmatic leadership that should think on how to leverage on the resources in their area for the benefit of the people.

“It is ridiculous that the South East which sits on gas deposits does not benefit from gas gathering facilities.

“We should think of a way to do businesses together and not fighting ourselves,” Otti said. (NAN)​

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