Ogun State Government Cuts Down Double Taxation for Businesses

The Ogun State Government says it is diligently working to streamline taxes and levies to minimize double taxation that could impact businesses’ revenue in the state.

Commissioner for Industry, Trade, and Investment, Adebola Sofela, made this statement during a visit to Nestle Nigeria’s Managing Director, Wassim Elhusseini, on Friday.

Sofela mentioned that his visit was prompted by the aim of strengthening the current relationship between the state government and its diverse stakeholders. He also highlighted the desire to enhance collaboration and exchange ideas on mutual interests. Sofela emphasized the commitment of the administration led by Gov. Dapo Abiodun to fostering capacity development across all sectors.

As a tangible demonstration of this commitment, the commissioner stated that technical schools throughout the state were being upgraded to meet the technical requirements of companies, thereby minimizing any skill gaps.

Accompanied by senior management staff from the ministry, Sofela highlighted that the current administration had enhanced the land administration system. This improvement facilitates prompt issuance of title documents to investors, enabling them to leverage financing without delays.

He mentioned that the government had been establishing new industrial clusters to accommodate the increasing number of investors and to prepare for future growth.

The commissioner urged companies across the three senatorial districts to prioritize qualified residents of the state for employment, emphasizing this as a step towards strengthening their ties with host communities.

“We are working to ensure harmonisation of taxes and levies to reduce the incidence of double taxation.

“The governor is particularly interested in creating an enabling environment for business to thrive, considering government’s huge investments in security and infrastructure,” he said.

In his statement, the Managing Director of the firm mentioned that 80% of his company’s investments were located in Ogun. Elhusseini also expressed that the state government’s business-friendly policies were heading in the right direction.