Market News

Multiple taxation worsening inflation, affecting many families – Traders tell govt - DAILY POST

SEPTEMBER 23, 2022


Nigerian traders, under the auspices of the Market Traders Association of Nigeria (MATAN) have disclosed that multiple taxation by the government will lead to more inflation across the country.

The traders, who spoke on Thursday in Ibadan, the Oyo State capital, added that multiple taxation by the government would lead to an increase in the price of goods and services.

The traders made these declarations during the flag-off of the benefit scheme enrollment for traders, held at the Lekan Salami stadium, Adamasingba, Ibadan.

Some of those who spoke at the event, included the National President of the association, Hon. Jamilu Abbas, MATAN Chairman in Oyo State, Princess Folasade Nurudeen, Chairman, Project Committee of the scheme, Amb Olakunle Johnson and MATAN Board of Trustee, Hon. Muhammad Labaran.

They explained that multiple taxation would affect many families negatively.

Abbas, while speaking, explained that the programme was organised in order to address the menace of multiple taxation imposed on traders by the government.

He lamented that market men and women in Nigeria are facing a lot of crisis in terms of multiple taxation.

He added that many of the traders were finding it difficult to survive, insisting that the federal government should address the issue of multiple taxation.

Abbas said, “We are here to tell the Federal Government to help us address the issue of multiple taxation and insecurities. And we want Nigerians to know that we don’t have any political affiliation with any individual or political party. We are doing our business as market men and women in the country.

“We are here to inaugurate State chapters of the association in South West for the benefits of the traders because without traders, there is no nation”.

Nurudeen, in her address, promised to run an inclusive government.

On his part, Johnson noted that the federal government was losing over N31 trillion to illegal tax collectors who were extorting Nigerian traders.

He said traders pay a lot of money before their goods could get to their destination, adding that the increase in the dollar rate against the naira was also another problem facing the traders.


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