The Kano state government in northwest Nigeria has announced plans to streamline tax and revenue collection to eliminate loopholes and bolster the economy.
Governor Abba Yusuf, while engaging with business owners in the state, emphasised the administration’s focus on centralising revenue collection to curb corruption and financial leaks. He urged businesses to fulfil their tax obligations, underscoring their importance in supporting government initiatives.
Furthermore, Governor Yusuf disclosed the formation of a committee tasked with collaborating with the state legislature to devise a comprehensive blueprint for foreign businesses operating in Kano State.
The governor also cautioned against hoarding products, emphasising the detrimental effects on Nigeria’s interests.
In light of inflationary pressures, Governor Yusuf stressed the necessity of collaboration between the government and businesses to alleviate the burden on citizens. He acknowledged the adverse impact of rising costs on businesses, leading to closures and exacerbating social challenges like drug abuse, theft, and unemployment.
Recognising the struggles faced by businesses, particularly in the foreign exchange market, Governor Yusuf urged stronger partnerships and reiterated the importance of tax compliance to boost government revenue.
Additionally, the governor appealed to Kano-based business owners to support the state’s populace, assuring them of government cooperation.
Deputy Governor Alhaji Aminu Gwarzo emphasised the role of commerce and industry in the administration’s agenda. He underscored the meeting’s purpose to address prevailing economic challenges and explore strategies for improvement.
Commissioner of Commerce Alh. Sani Abbas highlighted Kano’s significance as an economic hub and acknowledged concerns raised by businessmen regarding forex fluctuations and insecurity, which contribute to price hikes.
Businessmen at the meeting echoed similar sentiments, citing forex instability and insecurity as key factors driving price increases. They urged government intervention to stabilise the forex market and ensure a consistent power supply to support local production.