By Daniel Olushola Michael
The director general of the Manufacturing Association of Nigeria,(MAN) Mr Segun Ajayi Kadiri MNI has cried out to the federal government to review some of its policies especially on power sector in Nigeria.
The call was made while responding to questions from pressmen at the just concluded J9C annual discourse held at Radisson Blue Hotel, Isaac John street Ikeja Lagos.
The lecture themed: "Business and Policy Strategy: The Role of Reform in Enhancing the Ease of Doing Business in Nigeria"
At the event, he mentioned three critical areas where the government should made adjustments to the policies on, firstly, Forex Reforms needed to be revisited for critical adjustment due to its negative and ripple effects on the economy especially manufacturing sectors.
He added, Subsidy management also should be looked into, to make ease of doing business achievable in Nigeria.
Thirdly, Policy on Power. The DG make case for equitable costs of tariffs for consumption of electricity. "tariffs that allows Band A to pay for consumption and not on higher Tarriff be enforced.
He added "Government should not use location to rate what people pays for electricity"
Mr Ajayi-Kadiri cited Manufacturing sectors spent about 40% of costs on electricity, about 250% increase on power cost is debilitating on all manufacturing sectors existence. That's why the sector is having "1.4 Trillions Naira worth of stocks of unsold inventory in manufacturing sectors due to citizens not having disposable income to purchase goods produced in the industries".
Youths in technology sector too needed to be encouraged to join manufacturing sides by removing inhibitions like high costs of production which is premised on Power.
He also call in government to soften credit access for the youths to engage in manufacturing,due to its long gestation periods, financial muscles to access credits is crucial for them simply due to inability to secure all collateral to obtain loans for productions activities.
Speaking on the J9C lecture, The MAN DG/ CEO commends the organisers for bringing people together in aggregation of ideas to move the nation forward with provisions to reach out to authority in influencing their policies.
Reacting to his position on Tax reforms, Kadiri urged Nigerians to read the Bill and understand the context for which is gain for the country and participate in it to ensure we do not lose the golden opportunity in the bills, our tax systems needed to be reformed . This is the First time in my adult life that I have seen govt with Bill in fundamental package to improve critical sector of our economy . Payment of tax is very crucial,it can improve and diminishes businesses.
He urge Nigerians to participate in Tax Reforms reforms bill for speedy passage to improve lives and give relief to more than 80% of Nigerians. Even the Rich ones need to pay more taxes for benefits of the Nation.
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