Lawmakers Advocate Tax Incentives For Businesses In FCT

ABUJA – Some members of the 10th Nigerian House of Representatives have called for tax incentives to support business growth in the Federal Capital Territory (FCT).

The lawmakers made this appeal on Friday in Abuja at the launch of Dreamskin Luxe Empire, an entrepreneurial center, as part of activities marking the celebration of St. Valentine’s Day.

They emphasized the need for policies that create a conducive business environment, stressing that tax reliefs would encourage entrepreneurship, attract investment, and boost economic development in the FCT.

The Member representing Abuja Municipal/Bwari Federal Constituency, Rep. Obika Chinedu, has acknowledged the Federal Capital Territory (FCT) as a thriving hub for businesses. However, he has called on the Minister of the FCT, Nyesom Wike, and relevant authorities to intervene and curb multiple taxation imposed on small-scale business owners.

Rep. Chinedu warned that excessive taxation discourages entrepreneurship and stifles economic growth at the area council level.

“Some tax administrators impose various levies, including tenement rates, business premises charges, and other taxes, which place an undue burden on small businesses. This practice must be checked to create a more supportive environment for entrepreneurs,” he stated.

He urged policymakers to ensure a fair and business-friendly tax system that encourages sustainable growth in the FCT.

“The relevant authorities must harmonize taxes in a way that does not overburden businesses, leading to their closure. When businesses shut down, those who rely on them for livelihood are left without jobs, increasing the risk of social vices, as an idle mind is the devil’s workshop.

“It is the responsibility of the Area Councils to create an enabling environment for businesses by offering tax rebates or reductions to encourage growth and sustainability.

“I, therefore, appeal to the Chairmen of AMAC and Bwari Area Councils to review their taxation models and ensure that businesses in Abuja are not unduly strained.

“Businesses like these, which are springing up, should be encouraged. Instead of taxing them more, we should provide tax incentives to help them expand, create more jobs, and stimulate economic growth,” a lawmaker stated.

“This approach will help reduce unemployment. Rather than subjecting these small, young businesses to double taxation, we should engage with them to ensure they thrive,” he added.

Similarly, Rep. Ikenga Ugochinyere, representing Ideato Federal Constituency, highlighted the importance of the proposed Tax Reform Bills. He noted that once passed, the bills would provide significant support to small businesses, fostering a more conducive environment for entrepreneurship and job creation.

Rep. Chinwe Nnabuife, representing Orumba North/South Federal Constituency, has emphasized the need for stronger public-private partnerships to address unemployment in the country.

She noted that empowering youths would not only curb restiveness and agitations but also foster self-sufficiency.

Meanwhile, another lawmaker stressed the importance of shifting more tax pressure to large businesses and high-net-worth individuals who consume significant resources, while minimizing the burden on small businesses.

“When you empower somebody, you’re giving the person the go-ahead to explore, to explode, and to be self-sufficient.”

Earlier, the Chief Executive Officer of Dreamskin Luxe Empire, Mrs Nancy Irole, said that seeing the Spa launched was “a dream come through.

“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.

“A space where beauty, wellness, and self-care come together to create an experience that leaves you feeling refreshed, confident, and completely at ease.”

On his party, Member representing Faskari/Kankara/Sabuwa Federal Constituency, Hon. Mohamed Jamilu, said only government cannot provide the needed jobs for the teeming youth, calling on relevant players in the private sector to partner with the government to address unemployment, youth empowerment and in order to curb insecurity and other social vices in the society.