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Eti-Osa HoR Candidate, Ferdinand Adimefe Releases Proposed Bill on SMEs if Elected

The candidate of the Federal House of Representatives, Eti-Osa LGA, Lagos under the platform of Alliance for New Nigeria, Ferdy Ladi Adimefe has released one of the five proposed bills he intends to sponsor when elected into the House of Representatives.

According to him, Eti-Osa constituency is one of the most influential constituencies in the country. The region boasts of an eclectic mix of assorted minds: from urban professionals to industrious entrepreneurs, from accomplished ‘A’ list celebrities and entertainers, to a fast-rising base of creative youth, from a thriving start-up ecosystem to hard working petty traders, from a large base of immigrant population of about 70% to an ever-growing international community with expatriates in teeming numbers.

He commended the tax-for-road deal between Aliko Dangote and the Government as a clear example of how we can use our tax to create an enabling environment across many sectors.

Speaking he said: “Dangote got a 3-year tax relief for the construction of the 35km Apapa-Oworonshoki road. When you consider the fact that the allocation for capital expenditure in the annual budget is at 25%, with our decaying infrastructure, the road to glory is a crawl. We can move this for the executive order or policy into a legislative framework, so it can become a law and can outlive the government in power.”

It is clear that a thriving SME sector is one great engine room for economic growth and job creation and this is why this Collateral Free Bill as proposed by Ferdinand Adimefe of the ANN may just be one good way to help SMEs grow more capital and create more jobs. According to Mr. Adimefe, this bill will create a framework for SMEs/Startups within their first three years to access a collateral-free, single-digit-interest rate capital from banks. All the SMEs/Startups would need to have good credit history, stable cash flow and 50% of the needed capital.

The bill will also recommend that banks who match capital funds to the tune of at least 1% of their annual profit be entitled to make claims on the remission of income tax obligation.

In conclusion he said “Tax system is simply about redistribution of wealth and we need to explore this channel to fund development. In this bill, everyone wins. The SMEs will grow with capital and create more jobs. The banks will enjoy tax waiver and reductions. The government will gain a new generation of tax paying entrepreneurs and expand the 5% of people within the tax bracket.”

Ferdinand Adimefe, a creative industrialist and Techpreneur. He has built three successful businesses with over 60 Staff in the past couple of years. Through one of his enterprises, he is currently training scores of young undergraduate students. He is passionate about people and making a change in the lives of people.

Speaking on his motivation for running he said “Eti Osa is more than a location to me, Eti Osa is my home, I am deeply involved here; my family, my businesses, my entire life rests on this Local Government and for this reason I am convinced that Eti Osa deserves more than just average and this is why I am running.

I would like to seek your support and contributions as I aspire to serve you as a member of the Federal House of Representatives, for Eti-Osa Constituency, Lagos.”



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