New Tax Law Will Drive Investment, Says Powell Homes Boss

Governor Peter Ndubisi Mbah of Enugu State has been commended for signing into law the bill establishing a one-stop shop for tax collection and administration in the state.

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The Managing Director of Powell Homes and Shelters Ltd, Architect Chibuikem Onyekachi, made this known on Saturday during a media chat with newsmen on the importance of the new law signed by the governor to the state and its residents.

He lauded the new legislation, describing it as a transformative step towards enhancing the business environment and economic growth of Enugu State.

“This is a commendable initiative by Governor Mbah. With the consolidation of our state’s revenue collection process into one autonomous body, the Enugu State Inland Revenue Service, Enugu State will not only have eliminated the burden of multiple taxation but will also foster a more conducive atmosphere for businesses to thrive.”

He emphasized the significance of the new law in improving the Ease of Doing Business in the state. “For years, business owners, market women, and investors have struggled with the complexities and frustrations of dealing with numerous tax collectors. With this new law, all of that confusion ends. It brings transparency and simplicity, which are critical for attracting new investments,” he explained.

Architect Onyekachi highlighted that an autonomous revenue service would allow for greater efficiency and accountability. “Having the Enugu State Inland Revenue Service operate independently means they can set realistic targets and operate with the professionalism of a private enterprise. This autonomy is key to maximizing our internal revenue generation without imposing additional tax burdens on the citizens.”

He urged the people of Enugu State to applaud and support this progressive move by the governor, adding that it will be more beneficial to them in the near future. “We should all be proud of this achievement. It’s a bold step that reflects the administration’s commitment to creating a business-friendly environment. With streamlined tax collection, we can expect to see an increase in the state’s internally generated revenue, which translates to more funds for development projects that benefit everyone.”

Onyekachi also expressed optimism that the law would inspire other states in Nigeria to adopt similar measures. “Governor Mbah’s leadership in this area sets a precedent. It’s a model that other states can look to, as it balances government revenue needs with the realities of business operations. Enugu is truly setting the pace.”

However, the signing of the Enugu State Internal Revenue Service (Establishment and Consolidation of Revenue Administration) Law, 2025, has been widely received as a landmark achievement in the state’s economic reforms, signaling a new era of streamlined governance and economic prosperity.