FCTA pledges to harmonise regulations on taxation, improve ease of doing business

The federal capital territory administration (FCTA) says is it determined to harmonise overlapping regulations within the various secretariats, departments, and agencies (SDAs) that are militating against the ease of doing business in the Abuja.

Muhammad Bello, minister of the federal capital territory (FCT), spoke at the opening of a two-day retreat on the harmonisation of revenue and promotion of ease of doing business in the nation’s capital.

The event, organised by the FCTA in collaboration with the FCT Internal Revenue Service, was held in Ondo state, on Thursday.

Speaking at the event, Bello, represented by Olusade Adesola, permanent secretary, FCTA, said Abuja, being the mirror of the country, must be a model in the ease of doing business agenda of the administration.

“One of the biggest challenges we face is the need to harmonise revenue collection across the FCT,” Bello said.

“As you are aware, there are currently multiple agencies and departments responsible for collecting various types of taxes and fees from businesses and individuals. This has created confusion, duplication, and inefficiency, within the system.

“The FCT IRS was created to meet this challenge amongst others. However, despite its current efforts, we all must appreciate that there is a lot of room for improvement which I am sure this retreat will look into critically and recommend ways for advancement in this regard.

“I have no doubt that we shall make significant progress in the collective revenue generation and business promotion drive.”

The retreat, according to Bello, brings together a broad spectrum of stakeholders to rub minds and exchange ideas on how best to ensure the FCTA attains the highest IGR-generating sub-national status.

“As you all know, the uniqueness and dynamism of the FCT attracts people and businesses from all over the world. It is the seat of the Nigerian government, a budding centre of commerce and trade, and a hub for innovation and creativity,” the minister added.

“However, as with any growing and evolving city, there are challenges that we must address to ensure that the FCT remains competitive, efficient, and attractive to investors and entrepreneurs.

“The FCTA has, over the last few years, embarked on some reform programmes to encourage the establishment and growth of small and medium enterprises in the nation’s capital.

“Amongst them is the implementation of a digital platform for the issuance of permits, licences, and approvals known as the FCT business portal, which will allow businesses and individuals to apply for and receive all necessary permits and licences online, without the need for physical visits to government offices.

“In addition, we are working to streamline and simplify regulations and procedures for business registration, property registration, and land use planning. These will help to create a more transparent, predictable, and efficient regulatory environment for businesses.”

In his remarks, Rotimi Akeredolu, governor of Ondo, represented by Wale Akinterinwa, commissioner for finance, said there was a need to promote a more business-friendly environment, to attract investment, stimulate growth, and create job opportunities.