Small business owners have urged President Bola Ahmed Tinubu to tackle the issue of multiple taxation burdening Small and Medium Scale Enterprises (SMEs) in the country.
This appeal was made during the 11th edition of the Inspiring Change Conference 2024, themed ‘Enormous possibilities: Navigating uncertainty with confidence’, which recently occurred in Lagos.
Stakeholders at the conference expressed concern over the adverse effects of heavy taxation on SMEs, noting that it compounds the challenges posed by the current unfavorable economic conditions.
They also emphasized the urgent need for President Tinubu to address the longstanding issue of poor electricity supply, which has hindered economic growth and garnered criticism both locally and internationally.
Mrs Ayodeji Megbope, the Founder and CEO of No Left-Overs Nigeria Limited, highlighted the detrimental impact of multiple taxations on small businesses and stressed the need for an enabling environment that reduces the tax burden on SMEs.
She underscored the paradoxical situation in which growing businesses are targeted by tax agents instead of being supported, urging a reversal of this trend.
Megbope encouraged women entrepreneurs not to be deterred by the challenging economic climate but to persevere and continuously develop their skills to thrive in the competitive marketplace.
Adesunmbo Adeboye, the founder and convener of the Inspiring Change Conference, advised women to tap into their innate potential, trust in divine guidance, and remain resolute in pursuing their goals despite uncertainties.
The conference, known for its transformative impact on women’s lives, has received accolades for empowering participants with valuable insights and practical strategies for success.
Other speakers at the event included Mayokun Oreofe, a personal finance coach; Jennifer Awirigwe; and Morenike Molehin, who shared their expertise and experiences to inspire attendees to achieve greater goals.
