Obaseki signs six executive orders on investments.

Obaseki signs six executive orders on investments.

Godwin Obaseki, the governor of Edo state, has signed six executive orders aimed at further enhancing the state’s economic environment. 

He claimed that his administration has received $3 billion in investments during the last seven years.

He clarified that the executive directives will make it easier for Edo state residents to conduct business. 

One noteworthy item in the contents is a tax exemption for small enterprises whose owners make less than the state minimum wage.

He said: “We are very keen on supporting small and medium size businesses and we are also conscious of the fact that we don’t want to overburden them with tax while they are at their nascent stage of development.

“So the adoption of pre-emptive income tax regime for small businesses in Edo State now ensures that except you are earning above the minimum wage as a proprietor or an entrepreneur you will not be liable to tax and when you begin to make money then we expect that you meet your obligations.

“We have received in excess of $3 billion in the last seven years in various areas as investments, either in agriculture, in technology, in manufacturing, in services and this is just the beginning.

“With these executive orders I have just signed, I expect that we will see rapid increase in investors who want to take advantage of the opportunities which Edo offers.”