Business Hilights
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Soludo adopts market reform recommendations of Mandilas President, Okeke

Development analysts have observed that the Anambra State Governor, Prof Chukwuma Soludo is a smart listener of advice following the observation of several stakeholders’ recommendations to his administration in the beginning.

In a recent report titled: ‘WEEKEND DIGEST ON ANAMBRA TAX MATTERS: Focus on Communication flow for the Transport in Anambra State’, presented by Sylvia Tochukwu-Ngige, the Head, Taxpayer Education and Enlightenment Team, Anambra State Internal Revenue Service (AiRS), it was observed that the recommendations of Chief Anthony Amaechi Okeke, Ezekwueche Aguleri, Anambra State and President, Mandilas International Trade Centre (MITC), Lagos Trade Fair Complex, was adopted in full.

Business Hilights recalls that Chief Okeke, the Coordinator, Soludo Support Group (SSG), Lagos State Chapter and Convener/Sponsor; Anambra Men & Women For Soludo, has in February submitted his recommendation paper titled; Markets Refrom Potentials in the emerging economy of Anambra State.

In the paper, he said “In my views as a market leader in Nigeria, when these markets are given the needed business enabling infrastructures, it will afford the government the opportunity of either raising market taxes or introducing new ones. By this strategy, the government will be in a position to make more than double of what it has been making from Anambra market.

“Besides, part of the market reforms will be capturing of all traders in a digital registration model across all the markets so as to make it easy for the government to know who does business where across the state. The registration will also stamp out touting in markets.

“The government may introduce or hinge the digital registration reform on the reason of easy identification of genuine traders and business operators in the state for delivery of social amenities and security reasons. Again, the idea will afford the government easy access to capturing all traders in its tax net for the state’s posterity and access to funds.”


Now, the recent report published by AiRS under the Market Tax Reforms Said In Parts As Follows;

*STEP 1*. Go to any of the designated locations and enrol yourself.

*STEP 2*. Ensure that you pay the sum of N2,000 N700 for the Enumeration sticker and Permit to Trade, and N1,300 for the Trader’s identity Card.

*STEP 3*. Receive your payment code and make payment.

*STEP 4*. The minimum payment duration is 1 year while the minimum payment amount is N12,200 for the public market and N7,400 for the private market.

*STEP 5.*  Ensure you pay ONLY through the Bank or  the location of any of their agents into the right revenue code.

*STEP 6.* Ensure you collect your E-receipt as evidence of payment.

*STEP 7*. Collect your Permit to Trade sticker with an expiry date.

*STEP 8*. Do not Pay cash to anyone except to a bank or its agent and collect your receipt.

*NOTE:* By August 1, 2022, anyone caught without a Permit to Trade, his or her shop will be sealed and be made to pay double the yearly subscription payment as a penalty for default.

For those in the Transportation sector, by August 1, 2022, if caught without a Permit to Operate the vehicle will be impounded and the operator will pay double the monthly subscription payment as a penalty for default.

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