Businesses, Residents Reject Plan to Raise Levies in Oshodi-Isolo

AkoniTV December 7, 2024 Business Leave a comment 64 Views

Residents and business owners in Oshodi-Isolo Local Government Area, Lagos State, have rejected a proposed increase in levies and taxes by the local council. They say the plan is unfair and poorly timed, given Nigeria’s tough economic situation.

Dr. Barnabas Otoibhi, a sociopolitical activist, wrote an open letter urging the council to abandon the plan. His letter came after a public hearing on December 3, 2024, where the new rates were discussed.

The proposed bill includes higher levies for various businesses and residents. For example; Large hotels would pay N700,000 yearly, Medium hotels N300,000, and Small hotels or Lounges N150,000. Beer parlours and guest houses would pay N30,000 and N70,000, Shops would pay between N13,000 and N30,500, depending on their size respectively. Also, Companies would pay radio/TV fees ranging from N50,000 to N200,000, while schools would pay N5,000 to N10,000. Residents would also pay radio/TV fees, ranging from N1,500 for bungalows to N5,500 for taller buildings.

In his letter, titled “Don’t Increase Taxes at This Time of Hardship and Hunger,” Otoibhi warned of the negative impact the new levies could have.

“People are already struggling with hunger and hardship. Increasing taxes now will only make things worse,” he said.

He added that the plan could increase poverty, damage public trust, and undo any goodwill the government has built with the people.

“The result will be more suffering, and people will blame the government for adding to their problems,” Otoibhi concluded.