Imo State Government to provide N50m interest free loans to market traders.

The Imo State Government has banned the collection of levies and taxes on traders until the end of 2012. Governor Owelle Okorocha disclosed this during an interactive meeting he held with the traders at the Government House, Owerri . While addressing them, His Excellency also stated that the government would provide a N50 million interest free revolving loan to the traders in the State. He said the suspension of all levies will enable government to reform all taxation laws and ensure that all levies were accounted for.

In the Governor’s words:

“Currently, most taxes and levies end up in private pockets and that is unacceptable”.

He further disclosed plans by the State government to give a “face lift” to all the four markets within the Owerri metropolis and build additional new one to provide space for those presently without stalls.

 

In response to the Governor,  President of the Market Association, Mr. Chukwudi Onuoha thanked the governor for his developmental strides in the state and for the reception accorded them.

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