Borno State Governor, Prof. Babagana Umara Zulum, has granted a two-year tax waiver to traders in the state who were affected by the devastating flood disaster in September 2024. The tax relief is aimed at easing the financial burden on business owners and supporting economic recovery in the state.
The governor’s decision was announced by the Chairman of the Borno State Internal Revenue Service (BO-IRS), Professor Ibrahim Bello Alhaji. Alhaji explained that the tax waiver is part of Zulum’s broader tax reforms to enhance the ease of doing business in the state.
The flood disaster had a significant impact on the state’s economy, with many residents losing their livelihoods. The tax waiver is expected to provide some relief to traders who were affected by the disaster.
Alhaji noted that Borno State has made significant improvements in tax digitization and administration, ranking 12th nationally. He highlighted ongoing state-funded projects in various areas, emphasizing that tax revenue is benefiting all parts of the state.
The tax waiver is expected to benefit traders operating in Maiduguri’s Monday Market, who were severely affected by the flood disaster. The market is a major hub for trade and commerce in the state.
Zulum’s decision to grant a tax waiver to flood-affected traders is seen as a move to support the state’s economic recovery. The governor has been working to revitalize the state’s economy, which was severely impacted by the Boko Haram insurgency.
The tax waiver is also expected to encourage traders to rebuild and restart their businesses. Many traders had lost their livelihoods due to the flood disaster, and the tax waiver is seen as a lifeline to help them recover.
