Benin City – The Business and Hotelier Stakeholders’ Forum (BHSF) in Edo State has expressed strong reservations over the recent implementation and increase of the consumer tax, describing it as a “devastating blow” to businesses already struggling to stay afloat.
In a press release, the group’s Chairman, Chief Dr. Omogiade Edokpolo, and Secretary, Dr. Osado Tabusite, urged Governor Monday Okpebholo to reconsider the tax, citing its potentially crippling effects on the state’s economy.
“The consumer tax is a double-edged sword that will not only compound the financial burden on businesses and consumers but also undermine the competitiveness of Edo State in the regional market,” the group warned.
The BHSF argued that the tax would exacerbate the existing economic challenges facing the state, where businesses are already struggling to maintain their customer base amidst rising operational costs.
“We appeal to Governor Okpebholo to use his good office to scrap the consumer tax, which is not only unjust but also unsustainable in the current economic climate,” the group said.
The BHSF also called on the state government to engage in constructive dialogue with business leaders and stakeholders to explore alternative revenue generation strategies that would not stifle economic growth.
By rescinding the consumer tax, the group believes that the state government can create a more conducive business environment, attract investments, and stimulate economic growth.
The BHSF’s appeal has been backed by various business groups and associations in the state, who are all calling for a review of the tax policy to ensure that it does not harm the economy.
