By Ahmed Kaigama
Business leaders in Bauchi have lauded the economic reform programmes initiated by President Bola Tinubu, aimed at boosting Micro, Small and Medium Scale Enterprises (MSMEs) in the country.
They described the reform programmes as catalyst for business expansion and sustainable economic development.
Malam Mustapha Shehu, Chairman, Muda Lawal Market Traders Association, stated this at a sensitisation exercise on the mid-term achievements of the Tinubu administration’s, on Wednesday in Bauchi.
The two-day sensitisation exercise was being organised by the Federal Ministry of Information and National Orientation.
Shehu highlited that viable grant and loan schemes, tax reforms, and the implementation of the new minimum wage had spurred growth in the market, enabling traders to expand operations and attract more investments.
“When salaries are paid whether big or small they circulate back into the market and stimulate businesses,” he said.
He, however, stressed the need for effective policy implementation to maximise benefits for entrepreneurs, and continued collaboration between government and stakeholders to sustain economic growth.
Mr Abdulkarim Abdulsalam, an official of the Federal Inland Revenue Service (FIRS) in Bauchi State, said the tax reform programme was designed to benefit citizens in many ways by reducing cost of living, especially on essential goods and services like food, healthcare, education, transportation, and accommodation, exempted from Value Added Tax (VAT),
This, he said, would lower the cost of living for millions of Nigerians, particularly low income earners.
“Small businesses earning below N50 million annually are exempt from paying company income tax, allowing them to invest more in growth and job creation,” he said.
Also, ACI Mohammed Ardo, Nigeria Immigration Service (NIS), said the Tinubu administration had deployed an electronic border surveillance system to strengthen national security.
He said the gesture has significantly improved monitoring of the Nigeria’s borders, curbed irregular migration, and created a safe environment for cross border trade.
“Enhanced border control builds investor confidence and promotes legitimate businesses,” Ardo said.
Earlier, Mr Ibrahim Ladan, Head of the Federal Information Centre, Bauchi State, outlined several government’s policies with direct impacts on citizens’ livelihoods.
He listed some the policies to include economic diversifications, social investment programmes, and infrastructure development initiatives aimed at fostering inclusive growth.
The exercise attended by traders, government officials and security agencies, was designed to educate Nigerians on the Tinubu administration’s progress since assumption of office. (NAN) (www.nannews.ng)