Mohammed Shosanya
The Manufacturers Association of Nigeria,MAN,is seeking reversal of increase in electricity tariffs or only 100% increase in electricity tariff for minimum of 20 hours of supply.
This,it said,will go a long way in onboarding the private sector in the new agreement on the minimum wage announced by the Federal Government recently.
Its Director -General,Segun Ajayi-Kadir,who said this in a statement,also emphasized the need for SMEs and MSMEs to be exempted from compliance due to their incapacity and prevailing operational challenges.
According to him,there should be Central Bank of Nigeria’s redemptions of all validly transacted outstanding forex forwards for companies in the productive sector.
He said there should be duty exemption on imported conversion kits and government subsidy on procurement of same,and a freeze on introduction of new taxes on businesses for the next five years
He reasoned that there should be fixed rate of N800 for the assessment of import duty on all production inputs,and a revisit of the recent Financial Reporting Council regulation to curtail its application to private businesses.
He also advocated discontinuation of the price verification portal as it is inimical to the smooth operation of businesses and the basis for setting it up no longer exist.
