Lawmakers in the 10th Nigerian House of Representatives Advocate for Tax Incentives to Support Small Businesses in Abuja
On Friday, February 14, during the launch of Dreamskin Luxe Empire, an entrepreneurial centre in the Federal Capital Territory (FCT), several lawmakers voiced their support for tax incentives aimed at aiding small businesses.
Hon. Obika Chinedu, representing Abuja Municipal/Bwari Federal Constituency, expressed concerns over the heavy taxation burden faced by businesses in the FCT. He urged the need for the authorities to harmonize tax policies.
“You see some of these tax administrators collect tenement rates, business premises taxes, and all kinds of levies,” Chinedu remarked.
“Instead of encouraging businesses, this excessive taxation forces them to shut down, leading to unemployment and social vices.”
Chinedu called on the Minister of the FCT, Nyesom Wike, and local council chairmen to consider implementing tax incentives rather than overburdening entrepreneurs.
Echoing these sentiments, Hon Ikenga Ugochinyere from Ideato Federal Constituency highlighted the significance of the proposed Tax Reform Bills, which aim to alleviate tax pressure on small businesses while shifting it towards large corporations and high-income earners.
Hon. Chinwe Nnabuife from Orumba North/South Federal Constituency emphasized the necessity of public-private partnerships to combat youth unemployment. “When you empower somebody, you’re giving them the opportunity to be self-sufficient,” she stated.
The CEO of Dreamskin Luxe Empire, Nancy Irole, expressed her enthusiasm over the spa’s launch, describing it as a venue where “beauty, wellness, and self-care come together.”
Additionally, Hon. Mohamed Jamilu from Faskari/Kankara/Sabuwa Federal Constituency stressed that job creation should not solely rely on the government. “The private sector must partner with the government to address unemployment and curb insecurity,” he urged.
