…abolishes tax for SMEs,Civil Servants earning below 100,000 naira
By Ike Uchechukwu
Cross River state governor, Prof Ben Ayade has presented the 2020 budget estimate of 1.1trillion naira tagged budget of “Olimpotic Meristemasis” to the State House of Assembly.
Ayade has also abolished payment of tax by small scale entrepreneurs like barbing saloon, welders, stylists amongst others.
According to him, he would rather tax his brain than tax the people, so no more daily payment of N500 by Okada riders and taxis but they will now pay 1000 and 2000 monthly for Okada and taxis respectively adding that all civil servants whose salaries were below 100,000 naira were also exempted from paying tax.
Presenting the budget on Thursday on the floor of the State House of Assembly, Ayade said all low income earning people in the state were hereby exempted from taxes including civil servants whose salaries were less than 100,000 naira as well as stylish, saloon operators, welders and more.
His words: “All low-income earners are hereby exempted from taxes, including civil servants who salaries are below 100,000 nairas.
“The budget is an audacious step towards reducing recurrent expenditure and focus on increasing capital expenditure with Capital expenditure standing at 911 billion while recurrent stands at 188 billion which is 82.8% and 17.2 % respectively.
“Nigerians must realise that any state whose budget is driven by the envelop size has limited vision. There are two ways budgets are derived in business or public sector management, it is either as an expression of ambition or an expression of your envelope size.
“The expression of the ambition of the progressive agenda set for Cross River does not allow me the agony to adopt an envelope size budget. The value of our projects have not been commoditised into value , with the intellectual capacity we have reduced a lot of waste,” he said.