Professor Kenneth Amaeshi of the University of Lagos has called for policies that recognise the informal sector’s contribution to employment and household livelihoods.
Speaking at a FirstBank-sponsored business ethics lecture at UNILAG, Amaeshi said small enterprises deserve greater attention alongside large corporations.
He argued that bringing informal businesses into formal systems should improve access to finance and technical support, rather than simply impose rigid taxation.
According to him, business owners’ willingness to pay taxes is closely connected to confidence in how government spends public revenue. Greater transparency, he said, is essential to strengthening compliance.
FirstBank Managing Director and Chief Executive Officer Olusegun Alebiosu also highlighted the financing, infrastructure and organisational difficulties facing traders, artisans, farmers and other small operators.
He maintained that ethical conduct supports business survival, with integrity and transparency helping enterprises build trusted relationships with customers and financial institutions.
The lecture examined the relationship between small businesses, taxation and accountability
