Multiple Taxation, Poor Infrastructure Affecting Ease Of Doing Business In Nigeria- NACCIMA
The Nigerian Association of Chambers Of Commerce, Industry, Mines And Agriculture (NACCIMA), has lamented the impending factors affecting the ease o doing business in Nigeria, stating that it include multiple taxation, multiple exchange rates, government policies somersaults, poor infrastructure, high cost of power.
President of the association, John Udeagbala made the statement in Lagos, stressing that the federal government to consider these impending factors affecting the EoDB in Nigeria and implement various solutions we have suggested in time past for lasting solutions to these myriads of challenges.
“This spiral decline in growth rate has continued unabated. Many of the challenges impeding the ease of doing business in Nigeria include multiple taxations, multiple exchange rates, government policies somersaults, poor infrastructure, high cost of power etc.
“Collaboration with the OPSN and implementations of suggested solutions to these challenges will help ginger the economy back to inclusive growth and development.”
He also emphasised the need for public private partnerships (PPP) in bridging infrastructural deficits which make the country less attractive to investors.
“There is a need for urgent solutions to meet the infrastructure needs of our economy, as the Nigerian private sector must now prepare for increased competition from trade agreements such as the African Continental Free Trade Area (AfCFTA) Agreement.”
Udeagbala further advised the incoming government to consider a reduction in the size of government functionaries to reduce costs and save funds for infrastructural development, pointing out the need to make elective positions and principal appointments into various government agencies, offices and ministerial offices less financially attractive, redirect attention into production economy to revive the ailing Nigerian economy.
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