Babagana Zulum, the Governor of Borno State, has approved a two-year tax waiver for traders in the state who were affected by the September 10, 2024, flooding and the fire disaster that struck the Maiduguri Monday Market.
Zulum’s initiative aims to alleviate their hardships and ensure that affected traders recover and rebuild their businesses.
Professor Ibrahim Bello, the Chairman of Borno State Revenue Service (BO-IRS), made this known while addressing journalists on Sunday.
According to him, the state government’s tax administrative reforms are geared toward enhancing the ease of doing business, encouraging economic growth, and promoting productivity.
The September 2024 flood disaster significantly disrupted economic activities in Borno, with businesses and households struggling to recover. Similarly, traders at the Maiduguri Monday Market—a major commercial hub—suffered heavy losses due to a devastating fire earlier in the year.
More than 300,000 temporarily displaced people have been registered in 30 relocation sites following relocations from flood-affected areas in the Maiduguri Metropolitan Council (MMC), Jere, and Konduga local government areas (LGAs), according to the United Nations Office for the Coordination of Humanitarian Affairs (OCHA).
Borno State has been proactive in its taxation system recently, stimulating the state’s economic system. The state now ranks 12th nationally for improved and digitalized tax administration, reflecting transparency and adequate revenue collection, according to Bello.
According to Bello, key areas where the Borno State government has made investments include road construction and urban renewal efforts in Jiddari, Umarari, GRA, Bulumkutu, Custom, Chad Basin, and other key areas.
The tax waiver, according to the state’s IRS boss, is expected to help traders sustain their businesses. It is also expected to boost local trade and instill confidence in investors, which would help stimulate the economy.
Bello said, “This waiver is part of our broader tax administration reforms aimed at fostering economic growth. Governor Zulum is committed to ensuring businesses affected by recent disasters receive much-needed relief to rebuild and thrive.”
“The government is committed to modernizing our tax system while ensuring revenue is channeled into vital infrastructure projects,” Bello added.
Additionally, the waiver aims to enhance economic resilience, ensuring that businesses and the economy can better withstand future challenges or disasters. Furthermore, as the state strengthens its revenue systems, the initiative is likely to encourage voluntary tax compliance, creating a more sustainable and cooperative fiscal landscape.
