Economy: MATAN Tasks FG On Informal Sector Involvement

• signs MOU with Major Market in Lagos

The Market Traders Association of Nigeria MATAN has counselled the Nigerian government that the continued neglect of the informal sector will pose grave consequence on the nation’s socio-economic well-being.

MATAN National Secretary Ambassador Olakunle Johnson made this assertion while citing the importance of good relation between government and the informal sector.

Johnson who is also the National Chairman Project Steering Committee Integration Market Trader’s Revenue Management System, on VAT Direct Initiative VDI said that, “given the demographics bloc classification, the informal sector takes a larger chunk of close to 80 percent while the remaining 20 percent is occupied by the formal sector and that affirms the fact that the informal sector drives the system.

“Government need MATAN for the negotiation with the people in the informal sector because it has the require data to access them appropriately. Only MATAN can talk to everyone in the informal sector and they will listen because they understand their language.

“If they are neglected it will not speak well for the country, it is not about speaking too much English, let us speak to them in the language they understand.

“We are collaborating together to make sure we bring more of our members to the tax net, for the purpose of implementation of the integration of the market revenue management system, VAT initiative.”

Speaking in a chat with newsmen after signing a memorandum of understanding with the NDIGBOAMAKA Progressives Markets Association, the umbrella body of major markets in Lagos State led by its President Comrade Chinedu Ukatu, MATAN National Secretary Olakunle Johnson harps on the importance of the Igbo traders in the commerce of the state and Nigeria.

“Lagos have almost over 400 markets of which Igbo trader controls about 68-70 markets, so we met the Igbo traders’ section, they are important in Lagos because if removed from the markets in Lagos we will be left with pepper and all other perishable market traders.

“MATAN having signed MOU with the Federal Internal Revenue Services FIRS, the Joint States Internal Revenue services, the Association of Local Government in Nigeria and other government agencies, all strata of the informal sector have keyed into this project.

“So, government need go back to the grassroots and bring them to the tax net, including those exempted from paying tax. Once we know ourselves and the data is available, we will be able to decipher if any change of status occurs and ensure tax payment accordingly.”

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“Government should involve MATAN as regards its efforts geared towards ensuring the welfare of the citizenry, if this is done, I assure you there is no politician that can use the people against the government.

“All the crisis in the land was informed by the fact that the informal sector was left behind, their services need be recognized by government, bring them on board by creating a template for them, when you neglect them, you have endorsed illegality in the nation.” MATAN National Secretary said.

In his take on the importance of the MOU signed with MATAN, the NDIGBOAMAKA Progressives Markets Association President Comrade Chinedu Ukatu said that they being the entry point of over 23million traders, including major import and export businesses in Lagos and those coming from outside state to trade, major international markets which are practically growing the nations GDP, a partnership with MATAN is most beneficial.

“The MOU we signed with MATAN is an historic one because for so long we have been contributing so much to grow the nation’s GDP but nothing is coming our way in terms of benefit, looking at the MATAN Idea we find it good enough and that informs our decision to partner with them.

“Our market covers major international markets where importers and exporters trade, an entry point of well over 23 million verifiable traders here. Also present at the official signing of the MOU is the Lagos MATAN executives led by their Chairman, Chief Moshood Awusinu Fadaka.