BENIN CITY – Following far-reaching reforms in the tax system, favourable investment climate and an endearing support structure for their operations, led by Governor Godwin Obaseki, more small scale manufacturers are now relocating to Edo State.
Managing Director and Chief Executive Officer (CEO), Cradle Peak Limited, Mr. Ikponmwosa Obanor, said a number of his partners and business associates have moved to Edo State with many others on the verge of moving due to the impressive reforms in the state championed by the state government.
He said some of the reasons they cited for their relocation include good road network occasioned by ongoing road construction and reconstruction across the state; the ban on the use of thugs for revenue collection; improved access to information from government officials, ease in acquiring land titles and the governor’s tax regime reform.
Mr. Obanor, whose firm, Cradle Peak Limited, is one of those that have moved from Alagbole, in Ogun State, to Edo State in the new year, said he is into the manufacturing of packaging materials for small and medium enterprises (SMEs).
He noted that he was influenced to move operations also because a number of his clients have relocated their businesses to the state and he needed to be close to the market.
As it stands now, Edo State offers more incentives to small scale manufacturers. In Edo State, manufacturers would not be bothered to deal with the challenges of multiple taxation, land ownership issues, and there is open governance which offers manufacturers access to government offices for information that will enable businesses to operate with ease.”