Multiple taxation ‘killing Nigeria’s transport sector’

Chidi Anyanegbu, the chairman of Chisco Transport Ltd., on Monday urged the federal government to reduce the multiple taxation imposed on transport operators in the country.

Speaking in Lagos during an interview with NAN, Anyanegbu complained that multiple-taxation was hitting transporters hard and killing the transport sector.

“Commercial transport operators are finding it difficult to break even, as they have to pay interest on loans borrowed from banks,” he said.

“We pay over 23 different taxes and it is affecting our businesses. This is responsible for the frequent hike in transport fares.

“The transport business is a business that touches the masses and most of the beneficiaries are the less-privileged and civil servants who earn meagre incomes.”

Reiterating the importance of the transport sector to the nation’s economy and the masses, he described import duties charged on buses used for mass transportation as “enormous”.

“Ad when transporters pay these charges, it is the passengers that bear the burden through fare hikes,” he said.

“The government should look into these challenges by acknowledging that transporters are solving one of the problems facing the masses.

“The government must also realise that transport operators are adding value to the economy by providing employment opportunities to many Nigerians. The profit accruing to operators of this business is very low when compared to what the oil companies and multi-national organisations are making.”

Anyanegbu also urged the national assembly to set up a trust fund that could grant low-interest loans to transporters in the country.

He also urged the federal and state governments to step up rehabilitation of roads, which were in “deplorable conditions”.

“We spend so much money on maintenance of our vehicles owing to the deplorable state of most roads,” he lamented.