• Saturday, May 18, 2024
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BusinessDay

Controversy trails property tax bill in Akwa Ibom

A pending bill before the Akwa Ibom House of Assembly aimed at taxing property owners in Uyo, the state capital, has become a subject of controversy among the lawmakers and the ordinary citizens alike.
Known as Real Property Charge Bill, 2016 and sponsored by a member representing Esit Eket/Ibeno, state constituency, Usoro Akpanusoh, opposition to the bill has come from many quarters including property owners and other lawmakers.
Checks by BusinessDay show that criticism of the bill comes on the heels of a development levy introduced by the state government to generate revenue from business operators in the state which is being enforced by the state internal revenue service.
Opponents of the bill say it is wrongly timed coming at a time the country is in economic recession which, according to them, makes life unbearable for many. They further argue that it would further bring hardship to property owners.
According to Aniekan Uko, a member of the state House of Assembly representing Ibesikpo/Asutan state constituency, the bill will aggravate, adding law-making should be guided by good conscience.
Another resident of Uyo maintains that there are “enough issues to deal with at the moment adding that “such a bill can be introduced in developed countries where citizens get access to basic human amenities. The state government can generate revenue through other sources.”
However, explaining the rationale behind the bill which has gone through its second reading, Akpanusoh said it is well intentioned.
“People are always looking for what to comment and oppose. That one out of 26 members of the house opposed the bill is not enough for people to rise to dramatise his sentiment”.
Akpanusoh who regretted that the state has been cheated for decades said multinational companies, construction companies, private schools and other private facilities have made billions from the state without contributing to the revenue base of the state.
Citing estates within the Uyo capital city for instance, the lawmaker said estates such as Ewet Housing, Shelter Afrique and others are populated by the wealthy class who should generate revenue through property tax to the state.
Akpanusoh who hinted that many investors have indicated interest to build housing estates in the state, wondered why many would oppose a bill that is intended to make such investments beneficial to the state beyond the business interest of the owner.
He urged people to understand that roads linking most of the magnificent business complexes in the state were constructed by the state government at very exorbitant rate and it was only reasonable and for the interest of the state to fashion out a legal means to recoup such investment for the interest of the state and her future.
“Some government offices are rented and government pay very exorbitant amount to such landlords. Oil companies spend over N200 million yearly as rent. Construction companies with heavy duty equipment all have property that should generate revenue to the state,” he argued.

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