The Borno State Governor, Babagana Zulum, has approved a two-year tax relief for traders that suffered losses during fire and flooding disasters in the state.
Through the waiver, Zulum hopes to provide relief, enabling environment affected traders to reinvest in their businesses.
Zulum’s approval came barely five months after the September 2024 flood disaster and the fire outbreak at Maiduguri Market.
Recall that the floods disrupted businesses across Borno, displacing over 300,000 people, while the market fire caused significant losses.
Chairman of the Borno State Internal Revenue Service (BO-IRS), Prof. Ibrahim Bello, announced the decision in Maiduguri, stating that the measure aims to ease financial burdens and support economic recovery.
“This tax waiver is part of the government’s broader tax reforms to create a business-friendly environment and drive economic growth,” Bello said.
Bello added that tax revenues continue to fund infrastructure projects across key areas in the state.
The initiative is expected to boost local commerce, enhance investor confidence, and promote voluntary tax compliance.
