Zinox’s N2.1 Billion Tax on DDC machines – Economy Does Better With Local Companies

Zinox’s N2.1 Billion Tax on DDC machines – Economy Does Better With Local Companies

The nation does better when local companies handle most contracts in the country, where possible. It is the right way to develop their capacity, improve their confidence and nurture indigenous technology capability. There is no better example than the N2.1 b tax Zinox paid on the DDC machines. A foreign company would have paid to their national treasury and the nation gets nothing. But here, Zinox created job,  did the job, and also paid tax. That is simply awesome.

 

Few days, Leo Ekeh, the Group Chairman of Zinox technologies noted that his company paid up to 2.1 billion in tax for the 60 percent contract share of the Direct Data Capturing DDC machines used in the registration process of the last April general elections.

 

It is simply great that the nation gave Zinox that opportunity and today no one will fault a process that was cheaper to government, work executed as expected and N2.1b added as tax. We think everyone wins and the nation moves forward. More jobs to local companies.

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