Firms head for Edo for favourable tax, investment climate
By Francis Ogbuagu, Benin City
Following reforms in the Edo state tax system, favourable investment climate and an endearing support structure for their operations, more small-scale manufacturers are now relocating to the state.
Company managing director, Mr. Ikponmwosa Obanor, said a number of his partners and business associates had moved to the state, with many others on the verge of moving, due to the impressive reforms championed by the Godwin Obaseki-led state government.
He said some of the reasons they cited for their relocation included good road network occasioned by ongoing road construction and reconstruction works across the state, the ban on the use of thugs for revenue collection, improved access to information from government officials, ease in acquiring land titles and the tax regime reform.
Obanor, whose firm is one of those that have moved from Ogun state to Edo state in the new year, said he was influenced to move operations also because a number of his clients had relocated their businesses to the state and he needed to be close to the market.
As it stands now, Edo state offers more incentives to small-scale manufacturers who would no longer bother about the challenges of multiple taxation, land ownership issues and can enjoy open governance which offers manufacturers access to government offices for information that will enable businesses operate with ease.