In a bid to promote economic stability and human prosperity, the Edo state governor Mr. Godwin Obaseki has directed a 40% reduction in levies paid by market women in the state to ease their business. By the new directive, market women are expected to pay the sum of three thousand Naira only instead of the previous five thousand Naira. This directive is a timely one considering the poor state of the economy which has led to increase in the price of goods which has further reduce the purchasing power of the consumer. By doing this, the state government has lessened the burden of the market women.
It is instructive that other states in the country take a cue from this through the implementation of economic friendly policies and not harsh ones. Few years ago, two new generation banks and some companies closed down in Ekiti state due to the implementation of obnoxious tax policies by the state government which was unbearable to them. After all effort to engage the state government failed, they had to close down their businesses resulting in loss of jobs among other economic imbalances. The situation is almost the same in Lagos a state renowned for its multiple taxation policies.
The latest decision by Edo state government is a viable one that other states in the country should implement in their bid to promote ease of doing business. Taxes and levies imposed on citizens should be reviewed from time to time by government in relation to the state of the economy as Obaseki has done. This is important as it will give the government a clear image of the state of its economy and what to do to improve it while also contributing to the lot of the citizens in the state.