Ekiti traders urge Tinubu to suspend new tax policy
Several traders in Ekiti State have requested President Bola Tinubu to halt the existing tax policy, citing severe economic challenges faced by small business owners and low-income earners nationwide.
As reported by BusinessDay, the traders expressed that the current economic climate has made it increasingly tough for small traders and informal sector workers to sustain themselves, warning that ongoing taxation could exacerbate poverty and suffering among everyday Nigerians.
Discussing the effects of the tax policy on small businesses, Samuel Okorafor advocated for the policy's suspension until the economy shows definite signs of improvement.
He stated that implementing taxes at a time when businesses are struggling to survive would only intensify economic difficulties and push more individuals into poverty.
Okorafor emphasized that taxation should be strictly aligned with income levels, noting that many small traders operate on very narrow profit margins and struggle to fulfill basic family needs.
He remarked that not everyone has the ability to pay taxes, especially women and individuals in the informal sector who depend on low-profit ventures for their livelihood.
Okorafor mentioned that many Nigerians make a living selling food items, firewood, pepper, crayfish, tomatoes, and other essential household goods, arguing that such businesses should not be burdened with taxes in the current economic situation.
He said, “The tax issue should be paused for now, until the economy of the country stabilizes. The government should impose taxes based on individuals' income levels.
“Taxation is not designed for everyone. Specifically, consider my business; it is small. It's merely petty trading. So if you tax me based on my income, I won’t make it. I cannot support my family while paying taxes to the government.
“Therefore, taxes should reflect a person's income. But in my opinion, given the current circumstances, the tax issue should be suspended for now until the country's economy is stabilized.
“The government needs to take into account individual situations regarding tax, as not everyone can afford to pay.
“My business is small, just petty trading. If I am taxed according to my income, I would struggle to support my family.
“How can you tax women who are making a living in Lagos to provide for their families? What about women selling roasted corn, firewood, or peppers? Is that the type of business you are aiming to tax?”
Another trader, Toyin Dudulewa, shared her worries regarding the tax reforms, describing them as both imitative and provocative.
She called upon the Federal Government to be considerate in executing the policy, ensuring it benefits all, particularly small traders and low-income earners.
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