As part of efforts to restore investors confidence in the business environment of the state, the Rivers State Government  has planned to sponsored a fiscal Responsibility Bill in the state House of Assembly, with a view to tackling the challenges posed by multiple taxation in the state.

The Rivers State Governor, Rt. Hon. Chibuike Amaechi made this known  Friday at the opening ceremony of the 5th Port Harcourt International Trade Fair organised by Port Harcourt Chamber of Commerce Industry Mines and agriculture (PHCCIMA) at the Isaac Boro Park Port Harcourt.

The Governor who was represented by the Commissioner for Commerce and Industry, Hon Ogbonna Nwuke, said going by the need to protect and encourage business activities in the state multiple taxation must be discouraged to boost the economic moral of investors  as way of incentive noting that the bill when passed into law will harmonised all forms of taxes.

It would be recalled that the state government has recently banned all revenue agents, both at state and local government levels, while urging tax payers to pay their taxes to designated banks.

According to him, government will pay more attention to small and medium scale enterprises and designe a way to empower them, emphasising that any state that undermines the importance of SMEs is heading to economic downturn. As a result of this, government is providing good roads power supply, health and, good water, he added.

The governor regretted that inspite of enormous power generated by the state, distribution remains a set back, saying that government is partnering with Power Holding Company of Nigeria (PHCN) to ensure adequate distribution of power to the consumers in the state.

He enjoined PHCCIMA members to embrace the public private partnership programme of the state government, stressing that government is only interested in 20 per cent equity as a way of encouraging the organised private sector to participate.

He described the Trade Fair as an alternate market for manufacturers and marketers to showcase their products and wares, as consumers also make their choices and urge participants to avail themselves of the available business opportunities.      

Earlier, the President of PHCCIMA, Engr Vincent Furo, had said that the theme of this year’s fair is “stimulating the states economy through infrastructural development and effective public-private partnership”, noting that the major objective is to showcase investment and business potentials that abound in the state.

For the smooth running of business in the state, PHCCIMA boss calls for building of   a second run way  and installation of Landing Instrument System at the Port Harcourt International Airport, Omagwa to ensure effective night operations. A sustainable power policy be provided to encourage private sector participation Furo said,  for government support for the chambers skill acquisition scheme for the youths.

The President, National Association of Chamber of Commerce, Industry, mines and Agriculture, Dr S.C. Okolo commended the state government for creating enabling environment for business to thrive, saying that the fair is coming at the time when government and organised private sector (OPS) are partnering for economic development. 

He tasked federal government to improve on the power sector, put refineries in place, good road, security and in frastructural development before deregulating the down stream sector. 

King Alfred Diette-Spiff, the Amayanabo of Twon Brass, in his good will message called on oil companies operating in Port Harcourt to identify themselves with the chambers, and  as well drew the attention of government to the need to have a permanent Trade fair site.