Abuja Chamber of Commerce Calls for Harmonized Tax Policies and Support for MSMEs in 2025
The Abuja Chamber of Commerce and Industry (ACCI) has called on the federal government to establish a comprehensive database of active businesses in the country, aimed at enhancing support for Micro, Small, and Medium Enterprises (MSMEs).
In a statement on Wednesday, Emeka Obegolu, the President of ACCI, praised the resilience of Nigeria’s business community, especially in overcoming the economic challenges of 2024. He commended the innovative spirit and unwavering commitment of businesses, expressing optimism for renewed opportunities in 2025.
Obegolu emphasized the importance of harmonizing tax policies across all levels of government, addressing the issue of multiple taxation, and reducing the high operational costs that hinder business growth. He also urged the government to prioritize improving the ease of doing business in Nigeria to enhance the country’s global competitiveness.
“Streamlining regulations, eliminating administrative bottlenecks, and implementing business-friendly policies are crucial steps,” Obegolu stated. “The government should also improve access to financing and establish a reliable database of active businesses to support MSMEs, which are crucial to Nigeria’s economy.”
He also expressed support for the N4.06 trillion infrastructure allocation in the 2025 budget, viewing it as a potential catalyst for boosting productivity, creating jobs, and driving economic growth, particularly in key sectors such as transport, energy, and housing.
Obegolu welcomed the government’s macroeconomic stabilisation goals, such as reducing inflation and stabilizing the exchange rate, which are necessary for attracting investments and improving the business climate. However, he stressed the importance of effective budget implementation, urging the government to adhere to deadlines, ensure transparency, and adopt a results-oriented approach to maximize the impact of allocated funds.
The ACCI president also advised the government to adopt cautious revenue projections and improve tax collection mechanisms to reduce leakages, while implementing balanced tax policies that foster business growth. He further reiterated the chamber’s commitment to collaborating with the government to align policies with business realities and promote private-sector-led growth.
Additionally, Obegolu advocated for greater investments in green initiatives and inclusive strategies that benefit rural and marginalized communities, underscoring the need for a more sustainable and equitable economic approach in the coming years.
