Tinubu: We’re addressing double taxation to favour growth of businesses

President Bola Tinubu says his administration has commenced the process of addressing the issues of double taxation in the country.

According to a statement on Friday by Ajuri Ngelale, special adviser to the president, media and publicity, Tinubu spoke when he received Christophe Bazivamo, high commissioner of Rwanda, at the state house in Abuja.

The president also received letters of credence from Lorand Endreffy, ambassador of Hungary; Bazivamo, and Ivan Kholostenko, ambassador of Ukraine, Ivan Kholostenko. 

Speaking during the visit, Tinubu guaranteed foreign investors of meticulous and predictable fund repatriation.

He said the ambassadors must prioritise the exploration of new frontiers of trade partnerships that will be mutually advantageous as they carry out their duties in the country.

Tinubu also said the long-standing concerns over trapped funds are being addressed, and the funds will be processed for release as soon as possible.

“We are one family on the continent. We will continue to promote democracy and good governance. I will maintain an open-door policy, and the Minister of Foreign Affairs and the Chief of Staff are also available,” he said. 

“For the avoidance of doubt, we are already working on the issues of double taxation, and it will be properly streamlined to favour business growth. Nigeria is home and a haven for investors.”

Meanwhile, Tinubu asked the ambassador of Hungary to look into all possible avenues for forming alliances, particularly in the areas of agriculture and food security, as well as how to best utilise the nation’s technological know-how.  

“Thank you so much for taking care of our students who are in your country. We are a very big country, with huge potential to sustainably spur economic growth,” Tinubu said. 

“We are ready to improve relations, especially in the areas of agriculture and food security.” 

Also, Tinubu told the Ukrainian ambassador that Nigeria will always strive for world peace and harmony. 

“We are with you in prayers. We will continue to support good governance and democracy,’’ the president said. 

In his response, the Rwandan high commissioner said the government of Rwanda was ready to strengthen bilateral relations with Nigeria through new visa regulations and trade agreements.

On his part, the Hungarian ambassador expressed gratitude to the president for his bold, courageous, and strategic decisions to realign the Nigerian economy.

Several areas of cooperation with Nigeria, according to the ambassador, include medical technology, education, agriculture, food security, and security.