Manufacturers Score FG’s Ease Of Doing Business Low
Manufacturers in the Food and Beverage sector have rated the Federal Government’s programme on Ease of Doing Business low. They believe it has not provided any relief to businesses. Rather, it has compounded their problems.
This was as the manufacturers said the Economic Recovery and Growth Plan (ERGP), which came with a bang of publicity when it was launched, has not made any appreciable impact.
The President of the Association of Food, Beverage and Tobacco Employers (AFBTE), Chief Patrick Anegbe, in his address at the Annual General Meeting (AGM) of the association, said despite the laudable programmes, the business environment has remained uninspiring.
“The business environment in the last year as in previous years remained toxic. Although Nigeria came out of a 15-month recession in the second quarter of 2017. However, the economy is still weak and fragile. Many sectors, including manufacturing, are still weak,” he said.
Anegbe noted that part of the challenges is the high cost incurred as a result of non-existing or inadequate infrastructure. These include energy, multiple taxes and levies by federal, state and local governments. Also, in some cases, taxes levied by communities. Especially where member companies are operating in rural areas.
He listed other problems to include high cost and shortage of foreign exchange. Also, disruption in the supply of petroleum products.
“These and many others shoot up the cost of doing business, a situation which calls into question the well touted government’s policy on “Ease of Doing Business”. These developments certainly do not provide any relief to businesses,” he said. Continue reading…
Learn more at www.smefinance.org