Lawmakers canvass tax incentives for small businesses in FCT

Philip Daniel Yatai
Feb, Sat, 2025

Economy/Business

Lawmakers canvass tax incentives for small businesses in FCT

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By Naomi Sharang

Some members of the House of Representatives have advocated for tax incentives for small businesses in the Federal Capital Territory (FCT) to thrive.

The lawmakers made the call at the unveiling of an entrepreneurial centre, Dreamskin Luxe Empire, in Abuja on Friday.

The News Agency of Nigeria (NAN) reports that the unveiling of the centre was to commemorate St. Valentine’s Day.

Rep. Chinedu Obika, representing Abuja Municipal/Bwari Federal Constituency, specifically described FCT as a thriving environment for businesses.

Obika called on the FCT Minister, Nyesom Wike and others to prevail on tax administrators not to multi-tax small scale business owners.

He said that multiple taxes would discourage entrepreneurship and development in the area councils, as some of the tax administrators collected tenement rates, business premises tax and all kinds of taxes.

According to him, they should be able to harmonise the taxes in order not to put too much pressure on businesses and force them to close down.

“This is because when businesses are closed, the people who are engaged in them will fall back to the streets; and an idle mind is a devil’s workshop.

“So the area councils, it is their duty to make sure that the businesses are encouraged through tax rebates or tax reduction.

“I am appealing to the Area Council Chairmen who represent AMAC and Bwari Area Councils, to look into the way and the model they are using to tax businesses in Abuja.

“Businesses like this that have sprung up should be encouraged. Instead of taxing them more, you should give them tax incentives to encourage them to employ more people or create more businesses.

“This will help to reduce unemployment. So we should be talking to them to make sure that they don’t double-tax these small, young businesses that are springing up,” he said.

Also speaking, Rep. Ikenga Ugochinyere, representing Ideato Federal Constituency, said that the Tax Reform Bills, when passed, would give strong encouragement to small businesses.

Ugochinyere said that they would also ensure that the tax pressure was moved to big businesses, thus limiting the impacts on small businesses.

On her part, Rep. Chinwe Nnabuife, representing Orumba North/South Federal Constituency, called for more public/private partnerships to tackle unemployment in the country.

Nnabuife also called for youth empowerment, saying that it would tackle restiveness and agitations.

“When you empower somebody, you are giving the person the go-ahead to explore and to be self-sufficient,” she said.

Similarly, Rep. Mohammed Jamilu, representing Faskari/Kankara/Sabuwa Federal Constituency, called for collaborative efforts to tackle unemployment in the country.

“Relevant players in the private sector should partner with the government to address unemployment and ensure youth empowerment in order to curb insecurity and other social vices in the society.

Earlier, Mrs Nancy Irole, the Chief Executive Officer of the centre, said that seeing the Spa unveiled was ‘a dream come true’.

“Dreamskin Luxe Empire isn’t just a spa or a beauty lounge. It’s a place designed for Nigerians to check their wellness as they go about their normal businesses.

“It is a space where beauty, wellness and self-care come together to create an experience that leaves you feeling refreshed, confident and completely at ease,” Irole said. (NAN)

Edited by Florence Onuegbu and ‘Wale Sadeeq

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