Business

Advertisers get 5-yr bonus in Cross Rivers

Published

8 years ago

December 23, 2015

Outdoor advertising practitioners willing to practice in Cross Rivers State have been given a boost as the Cross River State Signage and Advertisement Agency, CRISSAA, has declared a five years tax holiday and other incentives for members of the Outdoor Advertising Association of Nigeria (OAAN) who intend to invest in the state.

This was made known by CRISSAA Director General, Mr. Stanley Nsemo, at the Extra Ordinary General Meeting of the Association in Abeokuta, Ogun state, while delivering a paper titled: Sustainable Partnership for Economic Development.

He listed the incentives to include discounted charges on processing fees and sites fees, direct reduced labour cost, income tax of 30 percent in all sectors, tax holidays of five years in urban areas and seven years in rural areas, investment in infrastructure attracts 20 percent tax holiday on cost of facilities, Industries with local value-addition enjoy 10 percent tax concession of up to five years and additional incentives for businesses in the free trade zones.

On the other hand, Director General of Oyo State Signage and Advertisement Agency (OYSAA), Mr. Babs Fagade, who is also a member of OAAN, promised to remove all illegal structures affecting outdoor advertising for value creation.

Reacting, President of the Association Mr. Tunde Adedoyin who talked extensively on challenges and benefits in states such as Edo, Lagos, Kaduna, Cross River, Enugu, Anambra and Abuja, said the association is discussing with the authorities in the states to ensure mutual understanding.

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