The Kwara Chamber of Commerce and lndustry, Mines and Agriculture (KWACCIMA) has urged the government to address the issue of multiple taxation faced by businesses in the state.
Olalekan Ayodimeji, president of KWACClMA, who spoke with journalists in Ilorin, on Tuesday, said apart from multiple taxes and levies, spiraling prices of raw materials and diesel were also suffocating businesses, a development he said required urgent intervention by the government.
Ayodemeji, who was addressing a press conference on the hosting of the annual general meeting/conference of the Nigerian of Chamber of Commerce, Industry, Mines and Agriculture (NACCIMA) slated for llorin from May 25 to 27 2022, said it was time the Kwara State government took steps to harmonise taxes and levies imposed businesses.
The KWACCIMA president, who also lamented the state of the economy, zeroed in on the nation’s piling debt and the huge cost of servicing the debt, saying “this is becoming unsustainable.”
He said the debt/GDP ratio which stood at 34 percent and debt/revenue nearing 86 percent required proactive ways to shore up earnings.
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He equally suggested the introduction of Certificate of Origin (CoO) for crude oil export to check oil theft, widening of tax net instead of introducing new taxes, deliberate reduction in government costs, leveraging investment through public-private partnerships and national assets register to know which assets can be disposed of to earn income, among others.
On the border closure, Ayodimeji appealed to the Federal Government to consider the opening of Chikanda and Babara borders in Kwara and Niger States so as to promote trade along those corridors and boost economic activities in the affected areas.
He lauded the state governor, Abdulrahman Abdulrazaq for maintaining harmonious relationship between the government and the private sector and urged him to do more in infrastructure provision in order to fast-track the economic growth of the state.
Ayodimeji also advised the state government to create industrial parks in major Kwara cities, a permanent trade fair ground to showcase the potential of the state to investors as well as a forum for senior government officials to present plans and policies to business leaders on economic development.
Among other measures he recommended was the energising of MDAs relevant to activities of the business.
