This seems like a pretty easy question don’t you think? I will easily take power as that is what every Nigerian wants to see. It is believed that with power cost of doing businesses will drop and output will increase astronomically as a result. This of course means more profit for your business. What about subsidies, like fuel? That is a hot burner issue, so Nigerians want that too and so rate it as important. So far, that is an unofficial response to the question. What does the Bureau of Statistics say about this?
The Bureau says Nigerians 33.6% of small businesses believe taxes are the number one Government Policy that affect business unfavorably. Power comes at a just under 20%!!!! Do you believe that??? Taxes over power??? See chart below
Note: Click into image to get expanded view
First of all, how many small businesses pay taxes and even if they do the right taxes?? This is hard to believe in my opinion. However, its the bureau and maybe they know something about Nigerian businesses we do not know.
in general I’d agree. Power is not really govt policy besides businesses have alternatives for power supply. Taxes are a real issue (actually everywhere), policy is fully under the purview of the govt, with limited alternatives (either pay your tax or face the consequences). Additionally it is not always pervceived to be an incentive for doing business successfully…..especially when Tax payments are not being used constructively by those who forcibly collect (i.e. why should I want to grow my business, go through all the hassle of registering formally and potentially seek to list when the result is that the FG will reward your hardwork by asking for more money?)
That’s in an ideal scenario. Here taxes are not so much of a bother for small businesses as most of them are yet to fall under the tax net. As per power, the inability for Govt to carry out its policy on power is disheartening and a barrier to the growth of most biz.
Guy, I’m talking about the same damn location. every time before person begin talk anything na to go arrange that nonsense tax clearance certificate and what exactly have they done for me? even the person when suppose sign am I still suppose still see am? (Lagos, Ogun, Anambra) same bloody issue? bros leave matter.
BLOG POST:: TAXES OR POWER, GUESS WHICH GOVT. POLICY MOSTLY AFFECT NIGERIAN BUSINESSES UNFAVORABLY? – This seems… https://t.co/bzG1qpbR
BLOG POST:: TAXES OR POWER, GUESS WHICH GOVT. POLICY MOSTLY AFFECT NIGERIAN BUSINESSES UNFAVORABLY? – This seems… https://t.co/mcLmDKUW