Nigerian business environment is bedeviled by multi Taxation – CEO Jackal Ventures Ltd


The Managing Director/CEO Jackal Ventures Ltd, Barrister Chinedu Onwuatuegwu has said that the Nigerian business environment is bedeviled by multi -taxation, power infrastructure deficiency and lack of political will to execute our extant laws, stressing that unless efforts made to remedy the situation the economy will continue to wobble.

The Managing Director who was speaking on the eve of his 28years milestone in the nation’s Oil and Gas sector and 60th birthday celebration within the week said we need to eradicate the errors before we can make a head-way.

According to him its the obvious lack of political will to do what needed to be done that made many people to concur that the problem of Nigeria is the lack of good leaders or credible leadership.

He therefore called on the powers that be to ensure that the electric power infrastructure is uplifted in the overall interest of the nation, saying that without power that there is not much that industrialists can do to create jobs or put the nation on the map of great economies.

As he suggested there is need for the state governments and the federal government to meet and rationalize the taxes paid by the private sector, saying that incidents of multiple taxation is killing a lot of businesses.

Speaking to us he said that within the next 15 years that the oil and gas industry will be revolutionized as the plan by EU countries to phase out fuel propelled cars by 2030 means that renewable energy is the way to go in the near future, thus his position that his compare would be going into the provision of gas infrastructure that would be needed as the electric car era emerges.

On the needed business and enterpreneurship skills to survive in the nation’s business environment, he posited that an executive needs to have ardent focus and financial acumen to survive, maintaining that good cash management ability is vital to succeed because inconsistent policies of government, multiple taxation and poor infrastructure.

He said he was glad of his performance in the sector as well his contribution so far in the legal profession, saying that he intends to keep on with his philantropic interventions both personnally as well as as a business concern as a way of giving back to society and expressing thanks to God almighty who gave him the opportunities in the first place.

According to him it was the tragic death of his mother as a youth that forced him to join the world of business and that even though he thought he had lost the opportunity to qualify as a lawyer that fate also ensured that he today owns a legal practice. Thus he is hinting that no matter the situation you find your self in life never ever lose your dream

- Advertisement -