Nigeria:FCTA, Others To End Multiple Taxes On Businesses

  • 02 December 2020 / News / 95 / Emerging Africa

Nigeria:FCTA, Others To End Multiple Taxes On Businesses

There will soon be respite for business owners as the Federal Capital Territory Administration (FCTA) has announced that it was collaborating with the Abuja Chambers of Commerce and Industry (ACCI) to end multiple taxes crises.

The Minister of the FCT, Mallam Muhammad Bello, disclosed this during the opening of the 15th Abuja International Trade Fair recently

While he agreed that multiple taxes have effects on business, he urged more entrepreneurs to move into FCT which has good road and rail networks, adequate telecommunication infrastructure and an international airport.

Daily Trust recently reported the woes of entrepreneurs as they battle with COVID-19 and multiple taxes in Nigerian including in the FCT. These have been further compounded by the threats they face from bandits and kidnappers as they travel to get goods for sale.

President of ACCI, Prince Adetokunbo Kayode, had said the aftermath of the #EndSARS, which led to many destruction, has cost businesses in the Federal Capital Territory about N900 million.

“We are all aware of the impact of the #EndSARS campaign, which affected so many businesses in Abuja and across the country. According to our findings by the Policy Advocacy Centre (PAC) of the Chamber, Abuja lost roughly N900 million to the protest,” he noted.