Borno State Governor, Babagana Zulum, has granted a two-year tax waiver to traders impacted by the September 2024 flood disaster and the Maiduguri Monday Market fire.
The Chairman of the Borno State Internal Revenue Service (BO-IRS), Prof. Ibrahim Bello, announced the development while addressing journalists in Maiduguri on Sunday. He stated that the initiative aims to support economic recovery and alleviate financial burdens on affected businesses.
Bello explained that the waiver is part of the state government’s broader tax reforms designed to improve the ease of doing business and stimulate economic growth.
The September 2024 floods severely disrupted economic activities in Borno, leaving businesses and households struggling to rebuild. Similarly, the fire at the Maiduguri Monday Market—one of the state’s major commercial centers—resulted in significant losses for traders earlier in the year.
According to the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), over 300,000 people displaced by the floods have been registered in 30 relocation sites across Maiduguri Metropolitan Council (MMC), Jere, and Konduga local government areas.
Governor Zulum’s tax waiver is expected to provide much-needed relief to affected traders, allowing them to reinvest in their businesses without the burden of tax payments.
Bello highlighted that Borno State has made significant progress in modernizing its tax system. He noted that tax revenues are already being used for key infrastructure projects, such as road construction and urban renewal in areas like Jiddari, Umarari, GRA, Bulumkutu, Custom, and Chad Basin.
The tax waiver is anticipated to ease financial strain on businesses, promote local trade, and boost investor confidence, ultimately fostering a more resilient and thriving economic environment. Additionally, the initiative is expected to encourage voluntary tax compliance as the state continues to strengthen its revenue systems.