The Kebbi State Government is taking significant steps to support small and medium enterprises (SMEs) by abolishing multiple taxation. This initiative is part of a broader plan to foster economic growth and encourage entrepreneurship within the state. The Director General of the Kebbi Investment Promotion Agency (KIPA), Dr. Muhammad Kabir Kamba, announced the upcoming changes during a forum on access to credit facilities for micro, small, and medium-scale entrepreneurs in Birnin Kebbi, the state capital.
The state government, under the leadership of Governor Idris, has introduced a ‘single demand notice’ as part of an Executive Order aimed at streamlining the tax payment process. This new directive is designed to eliminate the burden of multiple tax demands on small businesses, giving them much-needed breathing space. Dr. Kamba highlighted that the elimination of these tax hurdles will create a more favorable business environment, allowing SMEs to thrive.
Small and Medium Enterprises are key to economic growth, Dr. Kamba emphasized, noting that the administration is dedicated to removing any impediments that hinder business activities in the state. The establishment of KIPA last year is part of these broader efforts to attract investment, promote economic development, and ensure that Kebbi State is a conducive environment for entrepreneurship.
One of the main challenges faced by SMEs in Kebbi, as in many other parts of Nigeria, is access to credit. Acknowledging this, the forum brought together key stakeholders including bankers, microfinance institutions, and investment experts to discuss practical solutions. The forum also featured presentations from the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) and the Nigeria Incentive-Based Risk Sharing System (NIRSAL), highlighting available resources and financial support for SMEs.
Dr. Kamba reiterated KIPA’s commitment to facilitating a business-friendly atmosphere and improving the ease of doing business in Kebbi State. He added that the agency would continue to work closely with financial organizations to bridge the gap in accessing credit.
During the forum, the acting Head of Service, Hajiya Aishatu Usman, reaffirmed the state's dedication to economic development. She emphasized the crucial role SMEs play in driving innovation, creating jobs, and boosting economic growth in the state. She highlighted that the Kebbi State Government remains committed to ensuring businesses have the support they need to succeed.
This forum aligns with our mission to facilitate access to finance, a critical factor in unlocking the potential of small and medium businesses, she said, adding that the 2024 Budget has been designed to prioritize initiatives that promote economic growth, with a particular focus on improving access to credit for micro and small enterprises.
The forum was attended by a wide range of participants, including businessmen and women, financial institutions, investors, and KIPA representatives. Presentations focused on equipping SMEs with the necessary tools and knowledge to navigate financial challenges and grow their businesses.
By abolishing multiple taxation and fostering an environment conducive to entrepreneurship, the Kebbi State Government is taking proactive steps to support the growth of small and medium businesses. These initiatives will not only enhance the state's economy but also improve the livelihoods of many residents through increased job creation and innovation. The future looks bright for entrepreneurs in Kebbi as the state continues to prioritize economic development and investment.