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Cross River declares 5-yr tax holiday for outdoor practitioners

By Princewill Ekwujuru

Cross River State Signage and Advertisement Agency, CRISSAA, has declared a five years tax holiday and other incentives for Outdoor Advertising Association of Nigeria, OAAN members, who intend to invest in the state.

Governor Ben Ayade
Governor Ben Ayade

Director General of CRISSAA, Mr. Stanley Nsemo, made this declaration at the Extra Ordinary General Meeting of the Association in Abeokuta, Ogun state, while delivering a paper titled: Sustainable Partnership for Economic Development, where he listed among the incentives to include discounted charges on processing fees and sites fees, direct reduced labour cost, income tax of 30 percent in all sectors, tax holidays of five years in urban areas and seven years in rural areas, investment in infrastructure attracts 20 percent tax holiday on cost of facilities, Industries with local value-addition enjoy 10 percent tax concession of up to five years and additional incentives for businesses in the free trade zones.

On the other hand, Director General of Oyo State Signage and Advertisement Agency (OYSAA), Mr. Babs Fagade, who is also a member of OAAN, promised to remove all illegal structures affecting outdoor advertising for value creation.

He also promised to implement the design of Oyo State outdoor master plan and flexible payment plan for 25 percent permit fee already agreed on vacant sites.

Reacting, President of the Association Mr. Tunde Adedoyin who talked extensively on challenges and benefits in states such as Edo, Lagos, Kaduna, Cross River, Enugu, Anambra and Abuja, said the association is discussing with the authorities in the states to ensure mutual understanding.

As the stakeholders also deliberated on issues affecting the Association, its members and how to create a balance between operations and regulations as it affects the profession in Nigeria, resolved to make much improved relationship between it and state governments and their agencies.

The Association advised members to continue to be at the right side of the law so as to distinguish themselves as professionals. “The relationship between OAAN, state governments and regulators has continued to improve over the years and we intend to keep it that way,” he stated.

The EOGM is part of a three day CEO’s Retreat that hosted a large turnout of outdoor advertising practitioners and regulators from all over the country.

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