CITN Urges Capital Projects Plan

The President of Chartered Institute of Taxation of Nigeria (CITN), recently, urged the Federal Government to design a rolling plan for execution of capital projects in the country.

Mr Jegede said in Lagos that the spate of abandoned projects was becoming alarming and could cause a setback to voluntary tax payment.

According to Jegede, some projects in the country have been under construction for 20 years and above.

He said that one of such projects “is the road that has been under construction in Badagry to link Oyo town to Sokoto.

He said that if the road had been completed; it would take only seven hours to move from Badagary to Sokoto.

He said that abandoned projects put more financial stress on Nigerians, saying that such attitude would make them to evade tax.

He said that another of such abandoned capital projects was the Lagos-Ibadan Expressway and Niger Delta roads leading to Rivers, Bayelsa and other South-South states

“CITN will want to know the contractors and how much has been awarded for the completion of these roads.

“CITN frowns at a system whereby an administration will have an action plan on capital projects that could not be completed and be jettisoned by the next administration.

“The institute sees that as a waste of national resources and taxpayers’ money and so, the Federal Government needs to have a rolling plan that will be constitutionally adhered to.

“The effect of this is that it will ensure continuity of such capital projects until it is completed.

‘It will also ensure judicious use of tax payers’ money,” Jegede said.