Business Group Warns Unfair Tax System Hurts Nigeria’s Growth
A leading business association has warned that Nigeria's economic growth is being threatened by an "unfair" tax system that disproportionately burdens the private sector. The Bauchi State Chamber of Commerce (BACCIMA) stated that the system holds businesses to strict deadlines and penalties while government agencies delay payments and refunds without consequence. The Chamber's President, Aminu Danmaliki, called this imbalance "economically destructive." A key issue highlighted is the delay in Withholding Tax (WHT) refunds, which are legally due to compliant companies. BACCIMA proposed that these funds be held in a jointly managed account with the private sector to ensure refunds are processed within 30 days. The group also demanded that federal, state, and local governments be legally bound to pay contractors within a fixed 30-day period, with penalties for delays, just as businesses face penalties for late tax payments.