BY IFEANYI UWAGWU
THE Chief Executive Officer, SRV Stitches; an upscale fashion brand located in Asaba, Mr Solomon Edogbo, has called on government at all levels to streamline and harmonise the multiple taxes imposed on business owners across the country, warning that the present tax system is stifling enterprise and discouraging youth participation in legitimate ventures.
Speaking in an exclusive interview with The Pointer, Edogbo described the current tax structure as brutal and counterproductive to Nigeria’s push for economic growth, especially in the small and medium-scale business sector.
According to him, a range of levies from local, state, and federal agencies, alongside unofficial demands from agents and touts, are choking the survival of many businesses.
“The taxes we pay in this country are too much. From the local government to the state and federal levels, they eat deep into our pockets,” he lamented. “When you add the cost of electricity, fuel to run generators, and other operational expenses, it’s no surprise that many businesses have shut down.”
Edogbo, who has run SRV Stitches for several years, said his experience in the industry has helped him weather the storm, but he expressed concern for budding entrepreneurs.
“I can pay because I have been in business for many years. But what about someone who is just starting? How do you expect them to survive?” he queried.
He cited instances of multiple levies imposed by local government agents, including charges for signboards and arbitrary fees related to business operations. According to him, these taxes are often enforced through third-party contractors and touts who resort to intimidation and violence to extract payments.
“Sometimes, the government contracts revenue collection to individuals who see it as an opportunity for personal gain. They send touts to harass and beat up business owners if they refuse to pay. The government does not monitor what they collect,” he said.
As a solution, Edogbo urged the government to introduce a single, one-off annual tax for small businesses, arguing that such a measure would provide clarity, reduce corruption, and promote compliance.
“If the government could say, ‘Everything you will pay in a year is ₦10,000,’ and once you pay that, you’re done with taxes for the year, it would help a lot, it will encourage people to enter into business and remove the fear of being exploited” he said.
Beyond taxation, Edogbo also addressed the growing trend of young people turning to fraudulent means to make money, blaming the government for failing to incentivise and support skill-based enterprise.
“The government has indirectly promoted fraud. If someone has learnt a skill and is working, the government should subsidise their salaries. If a worker earns ₦40,000, the government should add ₦10,000 or ₦20,000 to support them,” he said.
