Home Business Economic Recession: FCT Minister Grants Waiver To Businesses

Economic Recession: FCT Minister Grants Waiver To Businesses

by Amadu Victor
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According to report reaching oyogist.com, the Federal Capital Territory Minister, Malam Muhammad Musa Bello, has reportedly granted a tax waiver to businesses operating within the FCT.

The FCT minister made this revelation during a flag off event organized by the Department of Outdoor Advertisement and Signage DOAS in the FCT Administration.

The noted that the advert waiver was initiated as a means of reducing the effect of the Covid-19 pandemic and also the current economic crisis (recession).

“As part of our support for the Small and Medium Scale Enterprises that are needed to catalyse the growth and the development of FCT, we have granted waiver to enterprises that have their signage and billboard on their walls to enable them benefit from some of the concessions of government for this period of COVID-19.”


“It is a gesture of government to ensure that non-monetary palliative of COVID-19 gets to everyone. It will enable the beneficiaries plough back the revenue that would have been paid to government into their businesses,” he said.

Mr. Bello also announced that the government had given a 30% percent discount to those with large billboards. “We have given about 30 per cent discount for those with bigger billboards because for the period of April, May and June, there was a total lockdown, so when we are billing for the big signboards (third-party), we have deducted a whole quarter.”

He also stated that the banking sector of the Federal Capital Territory FCT has also been granted a 50% discount from the government.

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