Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, said that lack of accountability in the use of taxes in Nigeria is one of the major issues hindering micro and small enterprises. and medium (MSME) tax payers in Nigeria. government.
Speaking yesterday at the 18th Abuja International Fair organized by the Abuja Chamber of Commerce and Industry (ACCI), Anite said it is important to ensure that government uses tax collected to improve the local business environment. Direction is also another factor.
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The minister added that paying taxes for many small businesses and MSMEs is scary as they struggle with tight profit margins.
However, she said finance and taxation could play an important role in developing the new economy in Nigeria, especially for MSMEs.
“MSME is an important part of our economy and contributes significantly to economic growth and development. For me, consumer credit reform is a top priority. Imagine what access to affordable credit could do for your business,” she said.
Consumer credit will provide businesses like yours with the financial resources needed to invest in new equipment, hire more staff or develop new products and services.
On his part, FCT Minister Nyesom Wike said one of the key drivers of sustainable finance and taxation in the FCT is the territory’s diverse and growing economy.
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